According to the researchandmarkets survey, the real estate industry’s USA revenue is estimated to reach USD 11.24 billion by 2023, proving it to be a highly competitive industry and a challenging one to stay ahead of the curve. Additionally, according to another survey, the size of the Real Estate Software Market is estimated to grow at a CAGR of 9.9% between 2022 and 2027, with a forecast of increasing by USD 16.41 million. However, the growth of the market depends on various factors, including the growing need for cost optimization in real estate software usage, the middle-class population growth, and the increased adoption of cloud-based software by real estate companies.
Real estate SaaS software applications assist real estate companies in operational undertakings and procedures, including reports of project management software, enterprise resource planning (ERP), computer-aided drafting (CAD) software, customer relationship management (CRM), structural engineering software, comprehensively overlaying market segmentation by deploying (cloud-based and on-premises), geography (North America, Europe, APAC, South America, and Middle East and Africa) and application (residential and commercial). It also involves a thorough analysis of trends, challenges, and drivers.
Providentially, SaaS tools are making it easier for real estate agents to cut costs, reorganize their processes, and upsurge their profits. In this blog post, we’ll explore why the real estate industry should be chosen for SaaS application, but before indulging right into the main topic, let us have an insight into the basics first.
What Is SaaS?
SaaS, pronounced as Software as a Service, refers to a customized cloud-based software providing applications to the users with its licensing system providing several benefits while being implemented within your company.
The SaaS platform functions through a subscription model easily used over an internet browser. The SaaS software development stages comprise design, launching, maintenance, and development testing, further including performance and security along with scalability and capability.
What Is SaaS For Real Estate?
In recent years, the real estate industry has seen a substantial transference due to software-as-a-service (SaaS) solutions contributing a range of tools that allow real estate experts to succeed and automate various processes, from property management and lead tracking to reporting, account management marketing, and accounts. The real property SaaS options available in the marketplace can be categorized into Electronic signature solutions, property management solutions, customer relations management (CRM) options, CRM solutions, lead management services, and listings and marketing solutions.
Each of these solutions holds definite capabilities and tools that can help real estate professionals accomplish their objectives and boost their usefulness. All the credit goes to the technology advancement for allowing SaaS solutions to become an imperative and central tool, allowing real estate professionals to keep up with the competition and propose the highest quality solutions to their customers.
SaaS solutions permit real estate agents to access valuable data and complete indispensable tasks irrespective of location, time, or on any device using Internet access. It assists companies by keeping them ahead in the industry market through its affordable pricing campaigns and user-friendly interface, which ultimately has made it a preferred choice in the real estate industry and among real-estate experts looking for an ultimate solution for streamlining their overall and day-to-day activities, with improved efficiency, and improved profits.
Why Use The SaaS Model For Real Estate Software?
Real estate organizations possess tons of data related to client information, property details, agreements, and finances, and in order to share and manage it quickly and efficiently, they require swift, accessible, and reliable Custom Software Development without making a large upfront investment. It has changed the way the real estate industry and professionals have been working by allowing them to access novel technologies and deliver the best possible experience to their clients.
An Overview Of The SaaS Model For Real Estate Software
Businesses, irrespective of their sizes, are speedily attaining comprehension of the substantial benefits of “software as a service,” as expected, and the real estate industry has been experiencing a revolution after the commencement of SaaS (Software as a Service) and Apps with efficient and tranquil processes of buying, selling, and organizing properties. SaaS systems help with persistent success and growth in the market, specifically in the real estate industry, and allow recognized companies to develop rapidly without profligacy, which ultimately results in the production of smaller independent estate agents due to the cost-effectiveness of several SaaS. However, it helps a number of landlords, mainly those owning several properties, by allowing them to expand and manage manifold properties and make leases less grim.
The Applications Of Saas In Real Estate
The above information demonstrates how valuable SaaS systems can be to the real estate industry. But the way through which it can be used in this sector is explained below.
Upgraded information regarding several properties in a timely manner can be complex as much as administration intricate in rental maintenance and other matters. Make this a part of the complexities of being out and about for a large portion of the day, and it will give you hard times.
However, with the employment of software that can be maintained and upgraded on the go and retrieved by all relevant workforces, such issues become much more easily adaptable.
Client Relationship Management:
Staying connected with buyers, tenants, and contractors has been made easier with SaaS as not only does it provide email accessibility from any location, but it also makes information sharing and update receiving convenient for anyone and everyone with access. Additionally, task management has also become more streamlined and easier to keep up with.
Marketing methods, especially SEO, direct marketing, and social media campaigns become much more stress-free for management when using a cloud-based system. It also makes the remote work on novel campaigns much easier with the ability to directly engage potential customers and the updates organization and handling along with the social posts responses while making reviews more streamlined.
Lastly, the reporting and analysis related to campaign effectiveness can easily be commenced and shared through SaaS, facilitating you to produce a cohesive approach among all contemporaries.
The Benefits of Using SaaS for Real Estate
SaaS integrated solution facilitates real-estate companies by helping them manage their properties, clients and transactions all in one unified place. Furthermore, it helps real estate professionals stay organized and ahead in the competitive market, including productivity and efficiency with the use of automation key tasks and developments.
The following are some of the benefits proving SaaS holds the ability to assist real estate professionals and plays a key role in the real estate industry’s growth and success:
Access from any location and any device:
Cloud-based solutions allow users to access the system and interact through different desktops, operating systems, and mobile devices so that real estate agents can search for data or double-check information even if they’re communicating with clients out of the office. This is also useful for departments like human resources and accounting when it comes to remote work.
Scalability of services:
With the SaaS model assistance, businesses can recompense for the used functionality and storage space. If demand increases, a business can obtain extra features and additional storage space via a few clicks without requiring a new solution deployment and the possibility of significant changes to the IT infrastructure.
Another financial benefit SaaS solutions provide companies is low-cost consumption on hardware, physical upgrades, and system maintenance in comparison to the on-premises software. SaaS products provide more affordability for real estate companies from the origin.
Ability to integrate with third-party services:
Agencies are often required to use numerous third-party software types for running their businesses, and SaaS systems usually offer extensive integration capabilities for compatibility associated with the most prevalent accounting, project management, human resources, and other solutions.
The industry-specific solution aids organizations by accelerating their day-to-day business operations. Therefore, SaaS software proposes real estate companies for process automation, including tax form filing, payment tracking, bill issuing, and property inspection management.
Quick deployment and easy maintenance:
SaaS products don’t involve time-consuming installation and setup, similar to on-premises products. Agents can arrange a solution in almost no time and quickly learn the way to use it due to the ability of cloud-based products, usually possessing an instinctive interface and offering a quick guide. SaaS providers also permit automatic and seamless upgrades, not requiring users to restart the system manually, suggestively abridging maintenance, and not disturbing the workers.
Keep your Data Safe:
For Cloud API computing, system updates do not involve the possibility of important data destruction that might require access in the future. Each time a system is updated, or a platform is modified, SaaS, as a part of cloud computing infrastructure, will keep that information by advancing your real estate company.
Easy to Grow & Highly Scalable:
All credit goes to cloud computing and “remote” data storage development in real estate; an agency, allowance, or client database does not entail server or software update as your company keep escalating and your technology is running.
One Place for Everything & Everyone:
The times when you must store the client’s information in physical servers or ask for access to your IT Department to a shared drive to which only you can get access via your workplace. Cloud computing allows your business or team’s information to be retrieved from anywhere using internet access and creating quicker processes for everyone.
Scalability and Automatic Updates:
The capability to scale is a significant feature of cloud computing, which allows businesses to increase their capacity while they expand. It helps companies by updating their plans without demanding hardware upgrades and quickly keeping up with their ever-evolving demands, as most SaaS companies offer automated and seamless upgrading options at users’ availability in a single session. It also reduces the time needed to install and test updates.
The Future of SaaS in the Real Estate Industry
The subscription model upsurge and the cloud-based services popularity profoundly influence the real estate industry, and particularly the Software-as-a-Service (SaaS) growth has been a paradigm shifter for the sector, providing a more flexible and cost-effective way for businesses to access the required software.
The SaaS flexibility and scalability have made it predominantly popular with small and medium-sized enterprises (SMEs), often seeking ways to cut costs and increase efficiency. In reality, according to the predictions made by research from Gartner by 2020, SaaS will be accountable for the mainstream of new application purchases made by SMEs.
Not only are SMEs advancing from SaaS in the real estate industry, but large organizations are also preferring the shift to SaaS-based applications, with the global market for SaaS in the real estate industry probable to reach $5.8 billion by the end of 2022.
There are several reasons why SaaS is becoming popular in the real estate industry. Foremost, it’s an extremely cost-effective way of retrieving the latest software applications. Instead of making a large upfront investment in software, businesses can subscribe to a SaaS service and can get access to monthly or annual basis payment methods.
This pay-as-you-go model means that businesses are only required to pay for the software they employ, helping to save a significant amount of cost. Additionally, SaaS providers often offer markdowns for businesses signing up for longer-term contracts, with the probability of further reduced costs.
Why Choose Progatix as Your SaaS Development Partner?
When it comes to evolving residential or commercial real estate using SaaS solutions, it’s vital to have in-depth insights related to the industry and technical expertise. Preferably, you must require a development partner who not only knows how SaaS applications are built but is also aware of the real estate terminology.
And if you have a pioneering concept but an absence of industry knowledge or you solely want to share the development workload, Progatix is here to help, holding expertise in the real estate industry and SaaS solutions for more than two decades of excellence.
As developers of SaaS solutions ourselves, we hold a portfolio of 50+ real estate SaaS products with a comprehension of the convolutions of converting groundbreaking ideas into fully practical solutions catering to the requirements of the real estate market.
Progatix, based in Mary, Florida, USA, with several additional offices worldwide, influences our local, national, and international experience for delivering disrupting real estate SaaS products with a goal of providing remarkable solutions at modest rates with assured 24-hour support.
At Ascendix, we offer flexible engagement models that give you the freedom to choose your level of involvement in the development process. We understand that every project is unique, and we tailor our approach to meet your specific needs.
Tell us more about your project, and we will provide you with the knowledge, resources, and support to turn your innovative ideas into reality. Let us help you drive innovation for your business and achieve your goals in the real estate industry.