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Real Estate Development Software


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Procore is a cloud-based construction management software application that helps firms increase their project efficiency and accountability by providing streamlined project communication and documentation. Users are able to manage... Read More
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Procore is a cloud-based construction management software application that helps firms increase their project efficiency and accountability by providing streamlined project communication and documentation. Users are able to manage... Read More
 
 
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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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
 
 
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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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
 
 
Sage 100 Contractor, formerly known as Sage Master Builder, focuses on small to midsize construction companies, whether they are a general contractor, service or specialty contractor or a home builder. Suitable for companies that... Read More
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Sage 100 Contractor, formerly known as Sage Master Builder, focuses on small to midsize construction companies, whether they are a general contractor, service or specialty contractor or a home builder. Suitable for companies that... Read More
 
 
Sage Estimating is an on-premise based construction estimating software designed specifically to serve contractors and sub-contractors in construction and real estate industries of all sizes. The solution provides interactive tools... Read More
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Sage Estimating is an on-premise based construction estimating software designed specifically to serve contractors and sub-contractors in construction and real estate industries of all sizes. The solution provides interactive tools... Read More

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Sage 300 Construction and Real Estate, formerly Sage Timberline Office, is part of Sage’s line of construction and real estate solutions. Sage 300 Construction and Real Estate is a construction management system that offers functionality... Read More
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Sage 300 Construction and Real Estate, formerly Sage Timberline Office, is part of Sage’s line of construction and real estate solutions. Sage 300 Construction and Real Estate is a construction management system that offers functionality... Read More
 
 
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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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
 
 
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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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
 
 
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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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
 
 
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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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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ProjectStream 365 is a cloud-based integrated project management and job costing solution that caters to businesses across various industries such as construction, project manufacturing and professional services. Key features include... Read More
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ProjectStream 365 is a cloud-based integrated project management and job costing solution that caters to businesses across various industries such as construction, project manufacturing and professional services. Key features include... Read More
 
 
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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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
 
 
Smartsheet is a project management application with a spreadsheet-like interface to help teams collaborate, plan projects and manage tasks. The software offers a suite of project management applications, such as document management,... Read More
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Smartsheet is a project management application with a spreadsheet-like interface to help teams collaborate, plan projects and manage tasks. The software offers a suite of project management applications, such as document management,... Read More
 
 
BuildingConnected is an online bid management solution designed to serve general contractors and sub-contractors across the construction industry. The solution helps to streamline the bidding process, manage projects and build a network... Read More
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BuildingConnected is an online bid management solution designed to serve general contractors and sub-contractors across the construction industry. The solution helps to streamline the bidding process, manage projects and build a network... Read More
 
 
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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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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VPO

VPO Cloud CM Software is a cloud-based construction management solution offering construction teams a secure online platform for managing reviews of key design and construction documents like RFIs, submittals, change orders and more. Field... Read More
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VPO Cloud CM Software is a cloud-based construction management solution offering construction teams a secure online platform for managing reviews of key design and construction documents like RFIs, submittals, change orders and more. Field... Read More
 
 
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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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
 
 
Job Accounting Plus is a single-entry construction job cost software and accounting solution which helps in job costing, billing, bookkeeping and financial reporting for home builders and contractors. It can be purchased as a stand-alone... Read More
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Job Accounting Plus is a single-entry construction job cost software and accounting solution which helps in job costing, billing, bookkeeping and financial reporting for home builders and contractors. It can be purchased as a stand-alone... Read More
 
 
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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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
 
 
Project Insight is a project and portfolio management solution for project driven organizations. Provides visibility into the workloads of resources, project budget and status with real-time reports. Project Insight is a collaborative... Read More
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Project Insight is a project and portfolio management solution for project driven organizations. Provides visibility into the workloads of resources, project budget and status with real-time reports. Project Insight is a collaborative... Read More
 

Buyer's Guide

by Eileen O'Loughlin,
Market Research Associate
Last Updated: December 12, 2018


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.

 

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