12 Software Tools for the Commercial Real Estate Tech Stack in 2023
May 26, 2023
In today's fast-paced commercial real estate leasing industry, it's important to have the right software tools to streamline your sales and marketing efforts. But with so many options available, it can be challenging to know where to start.
In this blog post, we'll discuss a handful of popular software tools that every modern leasing team should consider having in their toolbox.
A CRM (Customer Relationship Management) tool is critical for managing customer interactions, tracking leads and deals, and automating follow-ups. When choosing a CRM, it's important to consider your team's specific needs and how easily the tool can integrate with your current database and other software tools.
We find that CRMs vary widely across CRE firms, but here are a few popular options:
Salesforce is a cloud-based CRM that helps leasing teams manage customer relationships and sales pipelines.
- Highly configurable
- Offers robust reporting, analytics, and integrations with 3rd party tools
- Likely the most expensive option
- Often requires a strong learning curve
Hubspot is another popular CRM platform that offers a range of marketing and sales tools, including email marketing, social media management, and landing page creation.
- Offers free version and less expensive tiers for smaller teams/agencies
- Not as customizable; likely not as suitable for larger teams
Sharplaunch is different from more general tools like Salesforce and Hubspot in that it is designed specifically for the commercial real estate industry. It offers a comprehensive suite of tools to help real estate professionals manage and streamline their business operations.
- Tailored for commercial real estate
- Offers lease management & property valuation tools
Virtual Tour Software
Virtual tour software can help leasing teams create 3D or 360-degree virtual tours of commercial properties, allowing potential tenants to view the space remotely. While most commercial real estate professionals realized that most prospects don’t sign a lease on a virtual tour alone, virtual tours are still an essential marketing tool in today's market.
Matterport is a leading virtual tour software that offers 3D scanning technology and virtual reality integration. Its platform allows leasing teams to create immersive, interactive virtual tours that can be shared easily with potential tenants.
- Most advanced camera technology
- Wide range of customization options (e.g., add annotations, floor plans, etc.)
Cupix is a web-based virtual tour software that allows leasing teams to create 3D virtual tours using just a standard 360-degree camera. Its platform offers advanced features such as tagging and measurement tools, as well as integrations with other software tools.
- Relatively inexpensive compared to Matterport (good option for smaller firms)
Lease Management Software
Lease management software helps commercial real estate professionals manage their properties and leases efficiently. Here are two popular options:
Yardi is a cloud-based lease management software that offers features such as lease tracking, financial management, and reporting.
- Known for robust accounting & investment management features
- Desktop-based (vs. cloud-based)
VTS is a lease and asset management platform that helps users with tracking leads, managing lease negotiations, and collaborating with brokers. It also offers market intelligence and analytics to help real estate professionals make data-driven decisions.
- Enhanced communication & collaboration features to improve transparency amongst stakeholders
- Offers robust analytics & market intelligence
Commercial Real Estate Listing Software
Commercial real estate property data software helps professionals access detailed information about properties and market trends. Here are a couple popular options:
LoopNet is a commercial real estate listing platform that offers property data, research, and analytics tools. It also offers lead generation and marketing services for property owners and leasing agents.
- Most extensive property database
- Premium members get enhanced property exposure, priority placement, and advanced marketing tools to maximize visibility
Crexi is another commercial real estate listing platform that offers a range of property data and market research tools. Its platform also allows leasing teams to create marketing materials and track property leads.
- Offers deal management, virtual deal rooms, bid management, and auctions
Data & Analytics Software
Placer.ai is a location analytics platform that offers insights into foot traffic and consumer behavior for commercial properties.
- Allows leasing teams to identify leads based on demographics and behavior
Reonomy is a property intelligence platform that aggregates data from multiple sources, including public records, proprietary data sets, and partnerships, to offer a robust database of property and market information.
- Helps CRE professionals identify potential investment opportunities and do due diligence on spaces
- Users can access ownership history & changes, as well as property valuation data
Prospecting & Lead Gen Software
Resquared is a marketing and lead generation platform that helps commercial real estate professionals find potential tenants and automate outreach.
- Access to over 10 million local businesses
- A suite of AI and marketing automation features to streamline prospecting