Dallas, Texas, Oct. 10, 2022 (GLOBE NEWSWIRE) — The expansion of digitization, particularly in developing economies, the rising uptake of property management software by small and medium-sized firms, and the proliferation of smartphones are the main factors propelling the global real estate management software market. One of the major reasons anticipated to propel the real estate management software market expansion is the increasing inclination of owners and property managers for scalability. Additionally, factors including escalating infrastructure construction and the expanding requirement to keep property-related records for smooth operation are predicted to fuel market expansion. The need for property management software (PMS) for hotels and apartment buildings has grown over the past few years. The availability of internet bandwidth and virtual storage are just two of the many variables that affect demand in the hotel and residential sectors.
Real estate management software is a technology made to make it easier for property managers to handle both residential and commercial properties. Likewise, for compliance considerations, real estate management software aids in maintaining a transparent digital paper trail.
Property managers, owners, and operators increasingly need real estate management software since it makes it easier and more efficient for them to manage their assets. In a market that is getting more competitive and constantly changing, this helps to regulate the real estate portfolio to a larger extent. Real estate investors, residential and commercial property dealers, and other end users frequently utilize this software. The global real estate management software market size was estimated at USD 14.49 billion in 2021 and is expected to increase by 8.9% CAGR to reach USD 30.97 billion by 2030.
Midsize enterprises may benefit from the improved management tools offered by real estate property management software. One of the numerous advantages of employing this software is that these organizations may manage their complete business process more efficiently across departmental boundaries thanks to these solutions. The capacity to customize their software to the unique requirements of a specific industry vertical is another advantage medium-sized companies have over small and medium-sized enterprises (SMEs), which frequently choose all-purpose SaaS solutions.
Key Players of Global Real Estate Management Software Market
Accruent
Argus Financial Software
MRI Software
RealPage
Yardi Systems
AMSI Property Management
CoStar Realty Information Inc.
Propertybase GmbH
Microsoft Corporation
Trimble Inc.
CDK Global LLC
Bentley Systems Inc.
Oracle Corp
SAP America, Inc.
IFCA MSC Berhad
Kingdee International Software Group Company Limited
Yonyou Network Co., Ltd.
LanTrax Inc.
4qt.com
IBM Tririga
Sage Software Holdings, Inc.
Constellation Software Inc.
Type Analysis of Real Estate Management Software Market:
ERP
PMS
CRM
Others
Real Estate Management Software End user applications comprise:
Small Enterprises
Medium Enterprises
Large Enterprises
In 2021, North America was the dominant region in the market. Property managers and other participants in the real estate industry may have chances to invest in asset management software or services thanks to the e-commerce boom in North America. The region’s real estate market will undoubtedly see an increase in outside investment. Real estate wealth managers may make use of international real estate funds to diversify because of the variety of investment options and economic situations. Population and economic growth in the region are dominated by metropolitan centres. Urban real estate markets are the most profitable and brimming with possibilities. Real estate profitability is tied to GDP growth and population shifts.
• Entrata, Inc. and AMLI Residential worked together in July 2020. All of Entrata’s front-end leasing, accounting, payments, and communication tasks will be enabled by and managed by its integrated and all-inclusive platform.
• Alexa integration for residential properties was announced by Entrata Inc. in April 2021. Alexa-enabled devices can be managed or configured in each unit via this interface, enabling voice control of smart homes.
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OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
