The consumers’ trend to shop online has also affected the ways real estate used to work in the past. Now people prefer using the internet from searching for the right property to comparing price and quotation analysis, before going for onsite property analysis. This trend has enhanced the need on the part of real estate businesses to set up a user-friendly website with detailed property cataloging or exclusive listings. However, real estate is more than just the property display website a full-fledged real estate business has to deal with and manage sales agents and leads, manage contracts, and negotiate either from a seller or buyer perspective. Therefore, to assist the real estate industry, Odoo is offering a complete solution that covers everything. Using Odoo for real estate offers multiple benefits, such as it makes property management and contract tracking easier, and secondly it makes rental property management, along with invoice creation, a piece of cake for the realtors.
Here in this article, we have given a complete overview of what problems a real estate industry is facing because of online shopping trends, and how consulting Odoo Partners for real estate Odoo Consulting Services can help you with one click real-estate management.
Read More About: How To Choose the Right Odoo Partner?
Needs of Real Estate
Like we said above the real estate business is more than just showing properties to potential buyers. Now it includes curating properties, managing, and nurturing sale leads, assigning and managing sale agents, and managing contracts as well as negotiating the sale or purchase prices. Here is a brief overview of what restrictions real estate businesses face that prevent them from scaling, especially, if they don’t have the right system in hand.
1. Sale Agent Management
The first and foremost thing is sale agent management. Whether you are operating within a specific region or trying to manage property across the states, having a team of sale agents matters a lot. But, things become difficult when you have a pool of sales agents, specialized in a different field. Moreover, tracking every sale agent’s availability, success rate, commission, and the ratio of closed deals becomes difficult.
2. Project Development Management
Another problem faced by the real-estate business is tracking the progress of development projects, this includes tracking the development process and managing the sales as the project transgresses towards completion. And, selling the units to potential buyers before the project reaches its limit.
3. Property Management
Last but not least, managing property, tracking the sale contract to negotiating the purchase price, along with tenants scrutinization and rent contract drafting to rent collection is also a major concern of the real estate business. Hence having a traditional system for record-keeping can not benefit. Therefore, having an ERP system that keeps track, assists in collaboration and record management is the only solution left.
Read: What Makes Odoo the Best ERP Solution in 2021
So, the things that a real estate business needs right now are a way to manage sale agents and property management.
How Odoo Solution for Real Estate Works
By taking the concerns of the real estate business in mind, we have crafted an Odoo real estate solution that provides a complete solution. By using it, one can efficiently manage roles and responsibilities, enlist users, tenants, buyers, and sale agents. On top of this, one can create custom workflows. In addition to this, Custom Odoo Solution offers one-stop access to data including the tenant or buyer information, the status of invoice or contract. Lastly, you can access it remotely, from anywhere.
Application Offered by Odoo Real Estate
1. Website
Since the real estate’s leads are present online, therefore creating a website becomes essential. But a regular website doesn’t work anymore, visitors need more than that. A website that offers quality experience, quick access to information, an option to filter the result, view real estate broker details, book an appointment, and a request for quotation. With Odoo Websites you can easily create an engaging website by using the drag-and-drop feature. On top of that, you can manage the business online, catalog properties, and offer customer support.
2. Property Management
Another application included in the solution is property management. Here you can enlist all types of properties, insert significant information, add pictures, categorize properties into groups, and much more. On top of that, you can enlist properties with specific tags e.g apartments, building, flats, conidium, shop, e.t.c.
3. Rental Management
This application offers the real estate agents to efficiently manage the rental properties, either in the form of residential apartments, commercial buildings, farmhouses, or shops. To make things easier, the admin can create a tenant list, set custom criteria for the tenant and renter, create contracts for multiple rental plans, generate an invoice on the basis of agreed types, and manage payment records.
4. Sales & Invoicing
In addition to the rental property management, real estate needs a comprehensive system to manage the sales pipeline. This includes identifying lead, nurture, and establishing a long-term mutually beneficial relationship. In such a situation, Sale Agents are considered the face of a business. Therefore, to help businesses with realtor management, the ERP solution offers a dashboard where one can add information about every agent, assign leads to agents based on their profile, expertise, region, and sale score. Additionally, the admin can edit roles to create invoices.
Also Read: How To Create & Manage Sales Pipeline Odoo CRM
5. Subscription Management & Discussion
Another rental property is a subscription, this includes everything from commercial land rental to shop and residential bungalow to house and apartment. It includes recurring renting, therefore the Odoo Property Management System allows one to efficiently create a tenant account, with an associate landlord list and contract. Everything is displayed on a single dashboard. This will make subscription and rental management for real estate agencies super agile.
Lastly, Odoo Solution for Real estate business includes a feature of discussion where all realtors, landlord, buyer, and seller can interact with one another. Moreover, for more details on how the system works and what features it offers you can reach out to dozens of Odoo Consultants working worldwide.
Learn More: Understanding The Difference Between Odoo Functional & Technical Consultants
Conclusion
Till now, there is no CRM or ERP solutions have been developed that cater to all real estate industry needs of sale agent management, property management, and rental management. To assist the real estate industry at Techloyce, we have crafted a system that is an amalgamation of multiple applications offered for Odoo, moreover, you can get the system customized to match your business-specific need. To know more about Odoo Implementation and Odoo integrations, feel free to reach out to our Odoo Consultants.
