Finding software can be overwhelming. Software Advice helps small businesses select the right real estate development software to manage project finance and track key tasks, subcontractors bids and more.

Showing 1-20 of 144 products

Procore

Procore manages your projects, resources and financials from project planning to closeout. The platform connects every project contributor with the owner and general or specialty contractor. The centralized dashboard allows managers... Read more

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Recent recommendations: 106 recommendations

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Deployments: Cloud
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PlanSwift

PlanSwift is an on-screen digitizing and takeoff system that is suitable for both commercial and residential GCs and subcontractors in a number of industries, such as electrical, heavy/highway, plumbing, and custom and production home... Read more

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Recent recommendations: 88 recommendations

Platforms: Win
Deployments: CloudOn premise
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UDA ConstructionOnline

UDA Technologies’ ConstructionOnline offers a web-based, integrated approach to project management, project scheduling, and customer management. Designed for emerging construction businesses in the homebuilding and remodeling industries,... Read more

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Recent recommendations: 39 recommendations

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Deployments: CloudOn premise
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PlanGrid

PlanGrid is construction management solution built for general contractors, specialty contractors, design teams and owners. PlanGrid provides project teams with access to all project drawings and all related documents including specifications,... Read more

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Recent recommendations: 27 recommendations

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WeBuild

WeBuild is a cloud-based, all-in-one software platform that enables zero-cost, frictionless project collaboration. WeBuild empowers contractors, engineers, architects, developers, subs, and consultants alike to collaborate like never... Read more

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Recent recommendations: 24 recommendations

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Deployments: CloudOn premise
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Acumatica ERP

Acumatica ERP delivers a cloud and mobile technology platform designed for mid-sized customers with a complete, real time view across the business anytime, anywhere and on any device with a browser. From on-line accounting to full... Read more

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Recent recommendations: 19 recommendations

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ProjectTeam

ProjectTeam is a cloud-based construction project management solution that caters to businesses in the construction industry. Key features include requests for information (RFIs), drawing management, action forms, file management and... Read more

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Recent recommendations: 14 recommendations

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Jonas Premier

Jonas Premier is a true cloud, all in one accounting, job cost, project, document and drawing management solution, specifically designed to meet the needs of General Contractors, Land Developers, and Homebuilders. The cloud-based solution... Read more

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Recent recommendations: 13 recommendations

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e-Builder

e-Builder is a cloud-based construction program management solution for capital projects that provides performance data across the project lifecycle. Facility owners can track business processes with centralized project information,... Read more

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Recent recommendations: 7 recommendations

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Deployments: CloudOn premise
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Oracle Primavera P6

Primavera P6 Enterprise Project Portfolio Management is a cloud-based project and portfolio management solution for prioritizing, planning, managing and evaluating projects, programs and portfolios. This system can only be deployed... Read more

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Recent recommendations: 7 recommendations

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A-Systems JobView

JobView by A-Systems is a software solution for the construction industry, specializing in construction accounting. It is available for on-premise deployment. Key features of JobView include job costing, payroll, a general ledger,... Read more

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Recent recommendations: 7 recommendations

Platforms: Win
Deployments: CloudOn premise
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Fieldwire

Fieldwire is a cloud-based construction management solution that allows foremen and engineers in businesses to collaborate with the mobile workforce and share files, blueprints and RFI’s with them. It can be synced to existing cloud... Read more

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Recent recommendations: 6 recommendations

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Oracle Aconex

Oracle Aconex is a cloud-based operation management solution for managing information and processes between companies on complex construction and engineering projects. Several functions include document management, workflow automation,... Read more

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Recent recommendations: 5 recommendations

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Deployments: Cloud
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WinEst

WinEst is an on-premise database-driven estimating solution that helps estimators in businesses across various industries to manage and integrate project estimates using cost-knowledge management. Key features include construction... Read more

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Recent recommendations: 4 recommendations

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Deployments: On premise
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Budgetrac Real Estate Development Accounting

Budgetrac is a cloud-based, comprehensive construction and real estate development solution specifically for real estate developers. Budgetrac is designed for small- to large-scale development projects and portfolios. Key features... Read more

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Recent recommendations: 3 recommendations

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PMWeb

PMWeb is a cloud-based solution geared toward construction project management. The solution is built on the Microsoft .NET technology and can be accessed via a web client anywhere with Internet access. PMWeb can serve real estate development,... Read more

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Recent recommendations: 3 recommendations

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iSqFt for General Contractors

With iSqFt, contractors of any size can streamline their entire pre-construction process and bid effectively. Designed to address the unique challenges of general contractors, design-build firms, and construction managers, iSqFt's... Read more

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Recent recommendations: 2 recommendations

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VPO

VPO offers construction teams a single and secure Microsoft 365 platform with portfolio-wide views for owners, project managers, designers, and contractors to work collaboratively from any device, anywhere, in the business apps that... Read more

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Recent recommendations: 2 recommendations

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Maestro

Canadian based Maestro Technologies is a developer of integrated software solutions for the construction industry – and only the construction industry. From a fully integrated construction management software to manage all your accounting... Read more

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Recent recommendations: 2 recommendations

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Deployments: CloudOn premise
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Smartsheet

Smartsheet is a work execution platform with a familiar spreadsheet-like interface that helps teams plan, track, and manage projects in real-time. The collaborative platform offers a range of project management tools, such as document... Read more

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Recent recommendations: 1 recommendations

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Buyers guide


Last Updated: April 7, 2020

Small business real estate developers need to make many complicated decisions. Here's a look at just a few of their responsibilities:

  • Identifying property (land/buildings) for purchase
  • Creating project ideas (new construction/renovation)
  • Bringing together a team (architects/builders/engineers)
  • Procuring necessary finances (bank loans/investors/self-finance)
  • Managing compliance requirements (legal approvals/licenses)

To execute these responsibilities efficiently, real estate developers need to be able to record and analyze large sets of information, such as project cost estimations, profit and loss reports, invoices, subcontractors bids, change orders and a ton of legal documents.

What becomes an administrative nightmare is when SMBs manage these responsibilities using cumbersome manual methods, such as Excel sheets. Moreover, costly human errors creep in, which limit businesses from making timely and accurate decisions.

The way to tackle this is by using real estate development software that helps small developers manage their work more efficiently.

That said, the right real estate development software for your business depends on factors such as what type of features you need, whether you own a full construction company or are looking to subcontract most of the work, and, finally, your software budget.

In this Buyer's Guide, we will closely examine the key factors that businesses should keep in mind while evaluating real estate development software.

Here's what we'll cover:

What Is Real Estate Development Software?
Common Features of Real Estate Development Software
What Type of Buyer are You?
Key Considerations

What Is Real Estate Development Software?

Real estate development software helps businesses analyze and track development projects. The software comes with process automation functionalities that simplify financial analysis, subcontractor management and project management.

An example of automation is the automatic analysis of project feasibility involving calculations of property lot types, estimated expenses and loans, as well as the tracking of financial reports such as profit and loss statements, budget reports and cash flow.

Budgetrac project budget estimation interface

Construction project budget estimation in Budgetrac

Using the process automation features of these solutions, real estate developers can make better land purchase and construction decisions.

Common Features of Real Estate Development Software

Besides managing financial data to make faster and more accurate business decisions, real estate development solutions help developers manage different aspects of real estate construction, such as subcontractor compliance. The tool can be used to automatically identify and block subcontractors whose certifications have expired.

Likewise, these solutions offer many features that help developers manage various stages of the development process.

Here are some of the common features:

Finance management

Conduct automated profit and loss calculations, create project budget, monitor accounts payable/receivable and track invoices/billing.

Project management

Monitor each facet of the job to ensure all tasks are moving along in accordance with the schedule. Determine process efficiencies to shave off tasks/time.

Document management

Build a centralized file repository, that provides version control and allows teams to share and retrieve relevant project documentation such as change orders, contracts, RFIs etc.

Bid management

Receive job prospects, upload plans to an online plan room, solicit and procure bids from subcontractors and put the best bids together in a quote for the job.

Reporting

Understand financial status and project profitability with cost breakdown reports such as charts and graphs.

What Type of Buyer are You?

The right real estate development software depends on various factors, but most importantly on which industry you belong to and your business size.

Listed below are three buyer types of real estate development software and their typical concerns:

Small business buyers: By small business buyers, we mean those that are currently using manual methods to manage and track real estate development projects. At best, these buyers would be using Quickbooks or other basic accounting solutions to build project costs estimates, track payments and invoices.

These buyers are typically evaluating real estate development solutions for the first time. Hence, they would be primarily concerned with software costs, rather than checking out specific features.

Enterprises buyers: Theses buyers are large real estate construction companies that are looking to replace existing systems with solutions that can meet their needs for large scale project management and financial analysis.

These buyers typically work on multiple projects spread across different locations and time zones. As a result, they need a system than can consolidate different aspects of managing real estate development projects such as financial accounting, bid management, compliance management and even sales/marketing management.

Best-of-breed buyers: Owing to the variety of real estate development projects, there are specialized solutions catering to the needs of businesses working in a niche space. For instance, if you're a real estate builder specializing in home construction, then what you need is home builder construction software.

Likewise, if you're a developer who also needs to manage the property post-construction, then you need property software for maintenance management, tracking tenant details, lease dates and collecting rents.

Key Considerations

Businesses buying real estate development software need to understand more than just features to make the right choice.

For instance, small businesses typically do not have experienced technicians to manage bug fixes and install upgrades to the software. In such cases, a cloud-based tool where the vendor takes care of software maintenance is more preferable than an on-premise solution, in which the company has to manage data storage and software maintenance.

We have grouped the key considerations when buying real estate development software into two categories:

Software budget. The pricing of software is a primary concern for small business real estate developers. As a result, cloud-based tools with a subscription-based pricing is easier on the wallet than on-premise solutions, which come with an upfront license fee.

However, tracking just the license fee for using the software is not enough. Businesses should also account for additional software costs, which include fees for phone support and third-party software integration costs.

Size of projects. Businesses working on multiple and large scale projects need advanced functionalities, especially when it comes to project accounting. This makes integration with third party core accounting solutions a key requirement.

Likewise, large businesses also need to integrate with their existing enterprise solutions, which typically consist of CRM solutions and ERP software. Last but not the least, mobile access is also important to manage and track the work of field service agents.