Real Estate Company
Learn how we helped a real estate industry leader build custom software that reduced thousands of man hours spent each year manually tracking property analysis data.
Summary
AxiaTP’s customer is an industry leader in real estate and property management that acquires and manages thousands of properties nationwide. To stay competitive in the lightning-paced real estate market, the real estate company needed a secret weapon.
Here’s how our team developed that secret weapon—a cutting-edge custom application that allows them to continually outpace their competition.
Products and Services
Custom Software
Industry
Real Estate
Organization Size
Medium (26 – 100 employees)
The Challenge
Because the real estate company buys and rents thousands of buildings, they needed an application to can help them quickly track properties and evaluate them for investment potential.
Before partnering with AxiaTP’s custom software development and systems integration team to build a custom solution, the real estate company used Excel Pro-Forma to track the data they found from manually searching listings, which took thousands of hours of manual labor each year.
The Solution
Built using Microsoft technologies, the Property Acquisition System was designed for property analysis. It rapidly compares the square footage, age, number of bedrooms, days on market, and the price of properties in various regions across the country.
The Property Acquisition System gives this real estate company a competitive advantage with some distinct and innovative features.
Data Scalability
The median home in the U.S. traditionally takes 4-6 weeks to sell. However, Zillow Group found that in the last couple of years, homes are selling in less than 70 days. This means that in these competitive times, homes are only on the market less on average 25 days.
With the housing market being at its most aggressive and competitive in decades, the real estate company needed to stay an industry leader. It was imperative for their team to be able to handle the demand of processing vast amounts of data daily, whether it was information on thousands of homes, or even tens of thousands.
With the scalability of Microsoft Azure, the custom system is able to process substantial amounts of data. This type of architecture allows our customer to efficiently evaluate millions of homes on demand with a cutting-edge view of the
market.
Speed
The Property Acquisition Systems facilitates our customer’s workflow in an extremely time-sensitive environment. If a property becomes available in the morning, the system instantly evaluates it allowing the company to decide if they want to make the investment before close of business that same day.
And with census data being a valuable factor in a property’s locations value, the system’s ability to track census data and geospatial data analysis instantly means investors can be confident in their decisions.
Systems Integration
In order to identify properties for sale, the real estate company currently integrates with more than 40 systems, like Multiple Listing Services (MLS), and commercial applications, such as Opendoor and Zillow.
The Property Acquisition System’s server continually receives updates from these different databases, giving the company a wide view of the market in various cities across the country so they are always up to date with new listings.
“[The software] allows us to be much faster, more efficient, get offers out on properties the same day they hit the market, streamlines the overall process, eliminates the need for Excel underwriting, allows our clients to review and approve offers from within the system, and allows us to track an asset through the entire process. It’s truly the best software in the industry.”
– Customer Leadership Team Member
The Results
The Property Acquisition System currently tracks 20 million properties with 2,000 new properties being added daily. Because our customer made the decision to invest in technology, their team has the bandwidth to focus on other initiatives to drive their business forward, rather than using resources to constantly monitor and update their property database.
The Property Acquisition System saves time and money. It’s a prime example of process efficiency through custom software development and how custom software can offer a substantial ROI.
By the Numbers:
- 20,000,000 properties tracked
- 2,000 new properties added daily
- 40 system integrations
