PropTech is a new buzzword that you could have heard from different people. It is often called a new disruptor and innovation driver as it is considered the best remedy for real estate specialists. Proptech has opened several doors for property owners and property managers who were tired of handling loads of disassembled records in the form of spreadsheets and documents. Proptech, like Salesforce CRM For Real Estate, has made things easy and more manageable. Let's find out how!
Proptech involves tech tools that real estate experts have used to optimize how they perform renting and leasing tasks. Some other tasks involved are - buying, selling, renting, market research, and managing a property. These tasks are managed through innovative technologies and indicate the robust alignment between RealEstate and Tech. Basically, Proptech involves two domains:
Residential Proptech: This domain involves all digital products developed to facilitate renting or leasing residential properties like apartments, houses, or villas. The residential property landscape involves different tools and platforms like:
- Financing Tools
- Loan Management Systems
- Mortgage Lender Software
- Property Sale Tools
- Property Search Platforms
- Real Estate Closing Tools
- Real Estate Property Management Software
Commercial Proptech: Commercial Real Estate (CRE) Proptech covers all innovative software tools companies and CRE professionals use to run efficiently, search, rent, lease, and sell their commercial and retail property assets. The CRETech space is shared by:
- Asset Utilization
- Commercial Property Management Software
- Constructions Planning and Management Tools
- Evaluation and Financing Tools
- Property Search Platforms
Therefore, it can be concluded that Residential Proptech is more focused on smart property solutions while CRETech is all about driving efficiency in property management.
How REDA Is The Finest Example Of PropTech?
Proptech disruption has improved the daily routine of different real estate market players, from tenants to investors and property managers.
Let's find out how REDA can help Property Managers.
- Easier data collection & AI-driven marketing: Proptech like REDA can help Property Managers easily collect, maintain and manage customer/property data. Reda also makes screening and evaluating investment, leasing, buying, and selling operations easy and hassle-free. You don't need to pair REDA with any other software tool, as it allows you to expand your business's potential by structuring and documenting large data sets. Our Salesforce CRM For Real Estate will make you fully equipped to conquer more deals.
- Automation of paperwork & cost reduction: With paperless processes, REDA streamlines your brokerage back-office operations which saves time and resources for important tasks, like market research, communicating with prospects, and closing deals.
- Secure remote transactions & digital agreements: With REDA, Property Managers can allow their customers to make remote transactions, giving them a faster and easier buying experience. Also, digital agreements make the process paperless. No need for tons of paper to read and sign at closing!
- Direct digital engagement: REDA reduces physical contact and limits physical interactions through digital engagement with high-use surfaces and people. Since the onset of Covid-19, different contactless solutions have become the new normal in this digital era.
REDA has also changed the way landlords and tenants interact. Let's find out how REDA helps both parties.
- Online Transaction through REDA: Tenants can make rent payments through REDA. We accept different payment modes like credit cards, debit cards, and other online payment modes. A property owner can check the transactions and receive updates through the REDA application itself.
- Centralized communication: REDA allows property owners to send messages and generate rental agreements and bills through REDA. With centralized data, they can access information of all the tenants, see rental updates, check agreements, contract renewal, and so many other things through REDA. With information caching and data storage, you would not find any previous conversations falling through the cracks!
- No geographical boundaries: From leasing or renting property to paying rent, REDA gives property owners, and tenants ease to do almost everything from the comfort of their homes.
REDA also positively helps Real Estate investors. Let's find out how!
- Improved market research: REDA helps investors track the investment, leasing, buying, and selling opportunities.
- Secure contracts: REDA also helps them secure their agreements with no "middle man" involved as it might have skewed customers' interests in the property purchase and sale process.
Wrapping up!
80% of companies implement PropTech solutions to improve their real estate business operations and deliver high-quality customer services. Adopting Proptech is essential for businesses as they have to nurture their digital capabilities and evolve their business. Though it could be difficult for you to put technology into your business straight away without any previous experience, REDA and its team can help you seamlessly integrate our Salesforce for property management tool into your business. For queries, feel free to call!
