Almost twice as many agencies now use cloud technology over server-based software, according to research by Rockend, who note 62 per cent of property management agencies rely on the cloud in an increasingly fragmented market.
MRI Software Company, Rockend, is seeing this within its own cloud-based suite, with Property Tree surpassing the 3500 active customer mark this month.
According to Rockend research, 62 per cent of Australian property management businesses are now using cloud-based software to manage their business, compared to 42 per cent a year ago.
The figure illustrates the rapid adoption of cloud technologies within the real estate industry.
Traditionally, the property management industry has lagged behind other industries such as financial services, insurance, or accounting in terms of its adoption of cloud-based technologies.
Yet, at its core, it is an industry that is process and paper heavy with a highly mobile workforce.
According to Macquarie Bank, automation in real estate can deliver up to 25 per cent in efficiencies.
Meanwhile, Rockend research has quantified average savings through cloud adoption to be $249,000 a year and an increase in 184 properties under management based on 22 per cent efficiency gains.
Agencies can take the assessment to assess the quantifiable gains from cloud technology for their specific business by visiting rockend.com/cra
This month, Rockend broke another milestone with 3500 agencies now actively using Property Tree – its cloud-based property management software.
“Property Tree is now the most used cloud property management software in the market,” Rockend CEO Alister Maple-Brown said.
“Off the back of our new Dashboards announcement in July and due to the excitement behind our upcoming Business Insight solution, earmarked for September, and a new Maintenance solution in the works, we are seeing an acceleration of the number of agencies adopting our cloud-based solutions.”
Rockend now services 55 per cent of the property management software market in ANZ – more than double their closest competitor.
“And we don’t see this slowing,” added Rockend Head of Marketing, Catherine Vissiere.
“Rockend’s acquisition by global real estate software leader, MRI, means we now have access to the MRI product suite – 120+ products that could see us quickly add features like Callmax’s automated call management, so staff don’t need to man the phone’s on weekends, or Engage, a comprehensive portal tool that would give property manages much greater control over what their tenants and landlords see.
“And then there is the already ongoing development of innovative features like Dashboards, Business Insights, and Maintenance Plus. It’s an exciting time for our customers and we are looking forward to seeing what the next 12 months holds.”
Agencies are also recognising this development, with Ray White recently appointing Rockend as their partner – recommending Property Tree to their franchise network of over 1000 businesses.
“We are thrilled to be an endorsed Ray White partner,” Mr Maple-Brown said.
“This partnership affirms the strong connection we have with so much of the Ray White network, as many of their agencies already use our software.”