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May 21, 2024 11:04AM

How to Make the Most of a Real Estate Software Investment

Staff Member Adam Levitt
Article by
Consultant

We often notice that our clients do not know how best to leverage the real estate software they have licensed or purchased. Organizations may make a large investment based on what they’ve been told about a software solution’s capabilities and functionalities, but then they discover that their staff lacks the time or the expertise to properly utilize the technology and achieve the desired results. 

In this post, we will take a close look at the most common pain points involved in real estate software adoption and implementation and how working with an expert consulting team such as REdirect can solve them. 

Choosing the Right Real Estate Software

Before they have even selected and purchased a real estate software solution, our clients find that they are bombarded with sales pitches and claims that they do not know how to verify. They rely upon word of mouth from colleagues in the industry to assess the validity of marketing claims and the usefulness of various products, but such advice may or may not be coming from a credible source. This means that clients may end up committing significant resources to initiatives or products that they do not fully understand. 

As a general rule, there are no guarantees of ROI when it comes to real estate software, and previous “success story” case studies may be of limited usefulness if the underlying principles of the software are poorly understood.

There are many competing products on the market claiming to solve the same problems, and clients need help cutting through marketing hype and information overload to gain actionable insights. Real estate software experts—such as the REdirect team—can be an invaluable resource at this stage of the process because we understand the needs of your business and have real-world experience with the various platforms and solutions on offer. Decision-makers can benefit from the insights of professionals to get practical guidance on the solutions that are most likely to be effective for their specific needs, their culture, and their guiding vision.

At REdirect, we have partnerships with a small and carefully selected number of leading software companies in the real estate space. However, we do not work for anybody but our clients, and our only interest is in their success. As experienced professionals in the PropTech sector, we have a broad practical knowledge of the many real estate software options available. We use this knowledge not to promote a particular approach or solution, but to craft the best recommendations with the highest likelihood of success in meeting the goals of our clients.

Real Estate Software Implementation Challenges 

Even once a real estate software solution has been selected, the actual implementation of a new technology is rarely as easy as it appears in the demo. This means that clients often discover that they have been given a set of tools they do not know how to use effectively, that they do not have people on their team with the right expertise and training, or that they do not have a plan for integrating the tool into their day-to-day operations. These clients need help learning how to utilize their resources most effectively and how to delegate responsibility for any ongoing associated activities. 

A reasonable understanding and investment of resources in the implementation process will go a long way toward achieving optimal results over the life of a technology solution. In order to maximize the return on your real estate software investment, it is vital to have experts on hand to assist you in tailoring the processes to your organization’s unique environment and goals. 

Our REdirect implementation consultants work with businesses across the Property Management sector, easing their transition into using new platforms and optimizing the real estate software solutions they have adopted. Our team members have the expertise necessary to simplify the often complicated and daunting setup and deployment process, and they will take the time to assess your organization’s needs and provide experience-driven guidance and input. 

Software Staffing and Training Considerations 

Companies frequently invest in real estate software because they believe that it will reduce their staffing commitments. However, many find that the time and effort involved in maintaining and utilizing the solution offsets or outweighs the anticipated benefits. 

Ultimately, what real estate owners and operators want is for their software investments to yield improvements in productivity that offset the costs of adoption and provide long-term benefits. However, as many of our clients’ experiences show, it is not enough to simply purchase or license a software tool. It is also necessary to understand how to properly configure the solution, use it, and leverage it for the desired results. 

We are able to support clients by providing comprehensive training for all staff who will utilize the new real estate software solution, as well as ongoing support through the steep learning curve that comes with adopting a new technology. 

Real Estate Business Process Overhauls 

In many cases, achieving the desired outcome from the adoption of a new real estate software requires a comprehensive review of business processes, the establishment of clear procedures, and the effective delegation of duties. This is an area in which partnering with the correct experts—those with real-world experience and the necessary depth of knowledge about products and processes—is critical to achieving the desired result. 

At REdirect, our specialists come from the world of real estate property management and typically have many years, or even decades, of experience in utilizing technology in industry-leading companies across the sector. They know the software and solutions inside-out from extensively using them in real business scenarios, and they have a robust understanding of how to respond to (and prepare for) emergencies and non-conforming situations. This means that they are ideally situated to provide comprehensive support in assessing, overhauling, and redefining business processes and procedures. 

Get Real Estate Software Support From REdirect Today

Whether you are at the beginning of your real estate software journey, struggling with the challenges of implementation, or trying to learn how to better maximize your real estate software investment, the team at REdirect is here to help. 

Please contact us to learn more, to ask any questions, or to get started. 

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About the Author

Adam Levitt

Adam has almost twenty years of experience in real estate management, during which time he managed diverse portfolios of residential and commercial properties. Adam created budgets, multi-year capital programs and strategic repositions of struggling assets. He has run successful lease …

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