The financial software you choose for your luxury real estate brokerage can make a huge difference when it comes to factors like customer satisfaction, not to mention the efficiency of your own in-house operations.
If you’re looking to invest in software for the first time or you’re keen to upgrade from something that no longer serves you, here are five things you should look for when choosing the best software for your business.
Experience with Luxury Real Estate and High-Value Transactions
First and foremost, you need to narrow your search to providers who understand the pace and complexity of luxury property deals. That means finding companies that have proven experience working with brokerages that handle significant assets.
When a company has extensive knowledge within your own industry, they’ll be able to anticipate your needs rather than just delivering generic solutions. They’ll also have the insight to be proactive in their suggestions, rather than needing to be drip-fed everything from you.
Ability to Custom-Build for Complex Commission Structures
More than likely, you’re looking for financial software that suits your own tiered, bespoke, or performance-based commission model. With that in mind, the software provider or developer you choose should be able to demonstrate how they’ve handled similar structures in the past.
The key here is flexibility. You’ll need software that adapts as your business grows, so choose a company like DevExperts, which is well-versed in providing highly customized solutions that can be tailored as and when necessary.
Strong Security and Compliance Credentials
Financial data of any nature is sensitive, so it goes without saying that privacy and security are non-negotiable when you’re developing software that will process or store your customers’ data.
When you’re choosing software developers or providers, make sure to ask them about data encryption, as well as how they can make sure you comply with financial regulations and protect your clients’ data with your tool. You can also check the company’s track record and see if they have experience serving businesses that prioritize confidentiality and security.
Scalability to Support Your Growth
Whatever software you settle on should be more than capable of handling your transaction volumes, even when they’re on the increase, without causing performance issues or affecting your team’s efficiency.
That means looking for providers who build tools with scalability in mind from day one. You want to be able to easily add features that may become commonplace in the future (like AI reporting and new integrations).
Integration with Your Existing Tech Stack
Finally, developing a new software shouldn’t have to mean that you start from scratch with every other tool that you’re already using. The good news is that the most capable companies should be able to guarantee that your financial software integrates with your CRMs, listing platforms, accounting tools, and so on.
There’s no need to double your effort across platforms, so before you invest in a developer, you’ll want to ask companies for examples of how they’ve handled integrations for similar businesses.
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