As technology evolves to become more sophisticated, commercial real estate investors are harnessing the potential of automation software. This gesture can help share some load of vetting a new property, managing locations, and selling.
It becomes imperative that you implement CRE underwriting automation tools for your firm to automate mundane document processing tasks. Based on your specific requirements and the industry you serve, one platform might appeal more to you than a competitor.
Top CRE underwriting automation tools
Check out this list of five prominent commercial real estate software programs used by investors to boost their productivity -
ClientLook is a cloud-based CRM (customer relationship management) software platform that incorporates contact management, project collaboration, and corporate social networking in a single integrated solution.
- Every detail on each property
- Build your property universe
- Link contacts and properties
- Email marketing with email integration
- Manage listings and track comps
- Pipeline tracking
- Updates and activities
The price offered by ClientLook falls under three segments -
- $0 for new brokers
- $89 per user per month (paid annually)
- $129 per user per month (paid monthly)
- Cumbersome integration with the company's email.
- It requires better filtration on advanced searches.
- No reporting capabilities.
- No cross object filtering.
Docsumo is an automated document processing platform that enables operation teams to accurately extract information from any document in any layout with no manual setup required.
Docsumo offers automated operating statement processing, which helps simplify CRE underwriting. You can organize and categorize operating statement data holistically and in a standard format.
- Advanced image processing
- Seamlessly download data
- Swift processing of documents
- Integration with API or Webhooks
- Smart Filters for dates, numbers, and other regular expressions
- Classification and validation of captured data
- Free Trial - Suitable for testing features.
- Growth - Ideal for firms who wish to capture specific data points and train on data.
- Enterprise - Ideal for enterprises that intend to capture data values and train on their data.
- More detailing is required in the API documentation segment.
- The requirement to extend support to process handwritten documents.
- The lack of integrations with popular accounting tools.
Clik.ai is an automated underwriting software meant for commercial real estate (CRE). Investors utilize this platform to boost underwriting as-well-as asset management functions with blazing speeds.
They provide simple plug-n-play cloud software tools. These tools assist deal makers in executing their deal valuations and transaction due-diligence with no lags.
- Efficient document and keyword search across loan files.
- You can easily move data from documents to servicing softwares.
- Shared servicing for cost efficiencies.
- Automated underwriting
- Due diligence
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- Cluttered UI experience
- Lack of customization features
- Requires time to understand navigating through the platform
Leverton is an award-winning AI-powered data extraction and contracts analytics tool that is meant for corporate and legal documents.
Leverton provides a comprehensive solution to digitize and automate lease abstraction, enforce a layer of human review, and deliver the results directly to top real estate platforms such as VTS, JDEdwards, MRI, Yardi, and Argus.
- Image and Document extraction
- Seamless integration with top real estate accounting and data firms
- Legal AI for Due Diligence.
- Revenue Assurance.
- Regulatory Compliance.
$59 per month for a single user.
- The absence of sophisticated integrations with Accounting Software.
- Less user-faced customization options.
- Absence of automation in complex contract analysis.
- Limited outreach into other industry sectors.
Visual Lease is a lease accounting and management platform, which provides automated calculations that extract the data points necessary to produce journal entries. This way, you spend less time devising accurate calculations.
- Portfolio Administration
- Document Management
- Regulatory Compliance
- Critical Date Alarms
- Lease Accounting and Auditing
- Localization and Reporting
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- Limited functionality in features like project management.
- Inaccuracies in mapping.
- Implementation sometimes gets tedious.
You might be the best at each segment and still not be able to fully tap into your potential merely because you are not implementing innovative commercial real estate tools.
Therefore, you must opt for CRE analysis automation tools to help you get the job done effortlessly and with greater accuracy.
While there is no specific answer about which software is the best, you can review this list to figure out which software best suits your needs.
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Everyday I speak to people who use our product to automate their workflow. Contact us and we will be happy to see how we can improve your processes.
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