The Best Real Estate Development Software
- User-friendly interface
- Integration with AutoCAD and Revit
- Customizable reporting
- Strong financial management features
- Robust project management tools
- Mobile accessibility
- Project budgeting and tracking
- Automated workflows
- Predictive analytics
We recommend the best products through our own independent review process.
Real estate development projects are complex and require efficient project management to ensure success. As a real estate developer or project manager, choosing the right software can make a big difference in managing your projects effectively.
We’ve evaluated a handful of options on the market, and have deemed that the best options will provide comprehensive project management capabilities, including budgeting and financial tracking, automated workflows and collaboration features, and customizable reporting and analytics features. After researching and comparing 20+ options, here are our top picks for the best real estate development software:
1 Procore
Procore has gained popularity in recent years due to its comprehensive set of features that make project management easier and more efficient.
Procore’s comprehensive project management features, user-friendly interface, integration with other software, customizable reporting, and collaboration and communication features make it a powerful tool for real estate development projects. Compared to other top options in the market, Procore stands out as an all-in-one solution that covers all aspects of project management, making it an efficient choice for real estate developers and project managers.
- Comprehensive project management: Includes scheduling, budgeting, team collaboration, and document management
- User-friendly interface: The intuitive and easy to use user interface, such as the dashboard, provides an overview of all ongoing projects and tasks, allowing project managers to quickly identify potential issues and take action. Mobile applications all team members to access project information and collaborate on-the-go.
- Integration with other software: Software applications such as AutoCAD and Revit can integrate into Procore. This will streamline workflows and reduce the need for manual data entry.
- Customizable reporting: Customizable reports allow project managers to tailor towards their specific needs. Reports will includes project performance data on budget, schedule, and progress.
- Collaboration and communication: Share project information, track changes, and communication in real-time.
2 Sage 300 Construction and Real Estate
Sage 300 Construction and Real Estate’s financial management features, project management features, integration with other software, mobile accessibility, and customizable reporting make it a powerful tool for real estate development projects. Compared to other top options in the market, Sage 300 stands out as an all-in-one solution that covers all aspects of project management and financial management. This makes it an efficient choice for real estate developers and project managers who want to streamline their workflow and manage projects more effectively.
One key area of the software are the financial management tools, which include accounts payable, accounts receivable, general ledger, and job cost accounting. This lets project managers keep track of project finances and make informed decisions.
The project management features offered by Sage 300 Construction and Real Estate include scheduling, document management, and job costing. This lets project managers track project progress and performance–making it easier to identify potential issues and take corrective actions.
Sage 300 Construction and Real Estate can also integrate with other software typically used on real estate development projects, such as AutoCAD and Microsoft Project.
One valuable asset of Sage 300 Construction and Real Estate is the mobile accessibility, allowing project team members, who are frequently on-site or traveling, to access project information and collaborate on the go.
Lastly, the customizable reporting features lets project managers create reports based on various aspects of the project, such as budget, schedule, progress, and more.
3 Northspyre
Compared to other real estate development software options, Northspyre stands out by being an “intelligence platform” that empowers real estate development teams to more accurately predict outcomes on complex projects.
We’ve praised Northspyre for its user-friendly interface, automated workflows, and powerful reporting and analytics features. It is an all-in-one solution that covers all aspects of project management, making it an efficient choice for real estate developers and project managers who want to streamline their workflow and manage projects more effectively.
One of the key features of Northspyre is its project budgeting and tracking capabilities. It allows you to create detailed project budgets, track expenses, and forecast costs, giving you a real-time view of your project’s financial health. With Northspyre, you can also easily generate reports and analytics to help you make informed decisions about your project’s financials.
Northspyre also offers automated workflows and collaboration features that make project management easier and more efficient. Its intuitive interface allows for real-time collaboration and communication between team members, helping to reduce delays and improve project outcomes. The software also automates tedious tasks, such as creating and sending contracts and invoices, freeing up time for project managers to focus on more strategic tasks.
Northspyre’s reporting and analytics features are customizable, allowing project managers to create reports that meet their specific needs. Reports can be generated on various aspects of the project, such as budget, schedule, and progress, providing valuable insights into project performance. This information can be used to identify potential issues and take corrective action, improving project outcomes and reducing risks.
Real estate or property development processes range from the initial purchase of land parcels to the final sale of a finished structure. It is up to developers to find suitable plots for specific construction projects, determine how to best use an existing land area, or evaluate current structures for potential renovation. While development processes are primarily considered essential for new construction, it can also extend to existing property management.
What is Real Estate Development Software?
Real estate development software helps developers, architects, and contractors with the important decision-making behind every property acquisition and construction project. These solutions help to organize important legal documents, generate comprehensive bids for speculative development, and manage existing development projects.
This software further improves real estate development business processes by handling the more technical aspects of financing, such as forecasting a potential project budget during a proposal. Automating these tasks can greatly increase the efficiency of completing a bid and getting started on a project.
Features of Real Estate Development Software
- Bid management: Create new project bids using set templates, control when and how they are sent, compile past bids based on success rates
- Project management: Coordinate the execution of project tasks such as initial planning, employee scheduling and time tracking, along with resource allocation, purchase, and delivery
- Reporting: generate customized reports for each project or proposal to maintain accurate records on every development
- Budgeting and forecasting: Manage the finances of every project, from initial bid estimates all the way through final construction or sale; forecast for each individual project’s budget in advance to avoid overspending
- Document management: Every real estate deal comes with tons of paperwork, both physical and electronic; manage each document, duplicate, and triplicate with secure and organized storage
Best Real Estate Development Software Benefits
Implementing a real estate development software at your business can provide a lot of long-term benefits, including:
Managing Complicated Workflow
The first benefit of real estate development software is the ability to manage your existing workflow and streamline future projects. Automating services can drastically reduce paperwork and make it easier to find specific files related to development deals or bids.
Bid management tools allow you to keep tabs on new and existing proposals your company created. Custom templates give you the ability to set a consistent format for each type of outgoing bid, improving your chances of success with a concise, well-designed proposal every time.
Maintaining Legal Compliance
The development industry is full of compliance and legal requirements. Every new construction site must be managed by a licensed contractor, every design must come from a certified architect, even ceremonially breaking ground requires a permit. Keeping track of all the necessary licenses before beginning development can be a daunting task. Fortunately, real estate development software includes modules for managing official documentation.
Document management modules compile existing documents with new documentation as it is made. Store electronic copies of bid proposals, licenses, bill of materials, invoices, and more in one easily accessible location. Whether installed on-premises or hosted on the Cloud, the documents can be retrieved whenever necessary.
Reducing Human Error
The amount of paperwork necessary for speculative development is no laughing matter. As mentioned before, there are plenty of legal documents along with bids, proposals, architectural sketches, and more to keep on hand for the duration of the project. Managing accounts with Excel spreadsheets is suitable for some small businesses. However, it can lead to costly human error when dealing with larger transactions of a growing developer.
Real estate development software automates important business processes, greatly reducing the possibility of error. And streamlining the tasks can cut down on time, further benefiting your bottom line.
Real Estate Development Software Costs
The price of an all-in-one real estate development software can vary based on factors like company size and number of users. These two variables are among the most important when planning out a budget for this software.
Additionally, pricing depends on whether you implement an on-premise or Cloud-hosted management software. A web-based solution provides some benefits, such as increased accessibility, though requires monthly or annual payments compared to a single, one-time fee for a perpetual license.
For example, some plans are as high as $1,600 per year per user. Others are only $15 a month per member. Some one-time perpetual license fees, which offer unlimited users, are $30,000 while others are $395. There are real estate development software options available for every budget.
Real Estate Development Software by Industry
Real estate developers are found in many different fields. For instance, there are:
- Contractors and subcontractors
- Construction companies
- Architects
- Property managers
- Enterprise buyers
Based on where you fit into the larger real estate development industry, your software needs may change. Real estate development systems are often used in conjunction with property management solutions or construction management software.