Real Estate System

Abstract

This system will provide facility to the user to search Residential and Commercial property and view property. This system will provide facility to view the property by admin and user. User will able to upload the property information to the site and able to manage it. This system will provide facility to the user to fill up their requirement and according to their Requirement Admin can add the Requirement property. This system will provide facility to the user to publish advertise to the Site and view. This system will provide facility to the user to feedback to the site. The system\'s key features include an intelligent property listing module that allows real estate agents to create and update property listings with detailed descriptions, images, and pricing information. This article studies the importance of establishing a real estate information system in the real estate market. A web application and an Android mobile application allow different types of registered users to access the REMS. The mobile based application is proposed for collecting house and land data with geographical position at the real place. Meanwhile, the web application is created to handle the backend services, and provides all functions of the property management. The evaluation of user satisfaction shows that our proposed system is practically used and satisfied.

Introduction

I. INTRODUCTION

The internet is frequently used to share land listings with prospective purchasers. Whether the listing is provided by a real estate agent, a local newspaper, or a website specifically designed to host the listing, the components of sharing the information are the same. This project aims to provide a comprehensive solution for managing various aspects of real estate properties, facilitating efficient operations, and maximizing returns for property owners and managers. In this introduction, we will outline the key objectives, features, and benefits of our real estate System project. In the process of rapid social and economic development, housing as a household item for residents, its development speed is also accelerating. Real Estate Management System (REMS) is an online real estate software application that manages the overall operational activities and processes, starting from the management of the property, to the management of real estate agencies, agents, clients and financial transactions. It provides comprehensive reports for managing the Real Estate agency performance and efficiency, and enables the management for a better decision-making.

A. Why is Real Estate Management System Important?

1. Scalable
2. Secure
3. Manageable
4. Instant communication ensures transparency
5. Routine tasks are automated
6. Faster payments
7. Data is always backed up

II. OBJECTIVES

By leveraging technology, we aim to provide a centralized platform that simplifies property management tasks, enhances communication and collaboration, and enables datadriven decision-making. Handle details for rent and sale of property from clients.Carry out data analysis and statistical inference.  

Allow different departments of a branch to access specific files through application programs designed specially for them.

III. METHODOLOGY

The methodology of a real estate management system typically involves a systematic approach to developing and implementing the system. Here is an overview of a typical methodology for a real estate management system:

1. Requirement Analysis: The first step is to gather and analyze the requirements of the real estate management system. This involves understanding the needs of property owners, managers, tenants, and other stakeholders. Key requirements may include property listing, tenant management, financial tracking, maintenance management, reporting, and analytics.
2. System Design: Based on the requirements analysis, the system design phase involves creating a blueprint of the real estate management system. This includes defining the system architecture, database structure, user interfaces, and integration points with external systems if required. The design phase also involves considering scalability, security, and usability aspects of the system.
3. Development: Once the system design is finalized, the development phase begins. This involves writing the code, configuring the database, and building the necessary modules and features of the real estate management system. Agile development methodologies can be utilized to ensure iterative development, frequent feedback, and continuous improvement.
4. Testing: Thorough testing is crucial to ensure the reliability and functionality of the real estate management system. This involves performing various tests, including unit testing, integration testing, system testing, and user acceptance testing. Bugs, errors, and issues discovered during testing are addressed and resolved.
5. Deployment: After successful testing, the real estate management system is prepared for deployment. This involves setting up the necessary infrastructure, configuring servers, databases, and network components. Data migration from existing systems may also be required. System administrators and users are trained on how to use the system effectively.

IV. PROBLEM STATEMENT

1. It is a basic system that will keep record of housing properties available on sale, and will work as connecting bridge between customer and property sellers.
2. The information of various properties in various locations can be accessible at one place.
3. It will also keep record of contact information of customer to inform them about an event related to their property.
4. It will manage the properties effectively and efficiently.

V. SCOPE

1. The project will deliver an altogether new version of online real estate property management with an added feature of home page displayed properties.
2. Will reduce the work and improve efficiency as a user will be having everything on one website.
3. The portal will provide a facility of notifications to the user.(Eg: A user wants to share some property details with his friend, then he view his contact info and send him the required details).
4. Daily feeds will be provided to the user when he logs in. A person can directly start browsing the properties from there itself.
5. FAQ’s and other interactive features will make website more user friendly.
6. Feedback option will be available.
7. Loan provider details will also be available.
8. Important support Email Ids will be displayed on the website.
9. The website administrators contact details will also be available.

VI. FEATURES

A. Real estate end-to-end Solution

An end-to-end real estate solution provides seamless integration to manage land banking, project conceptualization, construction, inventory management, sales and booking, contracting, online document management, billing and collection, broker management, taxes and titling, and turn-over and move-in.

B. Accounts Monitoring, Customer Ledger Generation and Income Recognition

The thrust of a real estate company is to serve its customers by providing a 360-degree view of each customer’s transactions. There must be an efficient management and monitoring of customer accounts through the use of customer ledger and comprehensive collection/cashiering screens that adhere to the International financial reporting standards of income recognition.

C. Financial System for Real Estate

With the mandate of regulatory agencies, a fully compliant financial system is necessary for real estate companies to prevent heavy imposition of penalties and inconvenience to both the sellers and buyers. The financial system must have complete accessibility to create, generate and publish financial statements, variance analysis, performance management reports and dashboards, and other statutory and management reports.

D. Project Management System

With exacting features in project budget, construction stages and activities, project calendar and construction timelines, and percentage of completion or project progress, the project management system will deliver a cost-effective and timely completion of the projects.

E. Customer, broker and Vendor Engagement

A critical function that provides a holistic approach in promoting the continuing relationship with customers, vendors and brokers by providing interactive communication thru the online system offering ready access to information.

By having these top five features as the foundation of a mission critical system addressing the demands and challenges of the real estate industry, upward trend will continue, growth will be realized, and success will be inevitable.

VII. LITERATURE REVIEW

1. Technology has transformed the real estate industry by improving efficiency, reducing costs, and enhancing decision-making processes.
2. According to a research article by V. Subramaniyaswamy and K. R. Chitra, real estate management systems are becoming increasingly important as more and more people turn to the internet to search for properties. The authors note that real estate management systems can help reduce the time and effort required to manage properties and listings, and can also improve communication between property managers, agents, and tenants.
3. Benefits and Challenges of Real Estate Management Systems: - Improved Efficiency: Automation and streamlining of processes reduce manual efforts and enhance operational efficiency for property owners and managers. - Enhanced Communication: Real estate management systems facilitate effective communication and collaboration between property stakeholders, resulting in faster issue resolution and improved tenant satisfaction.
4. Integration and Adoption Challenges: Implementing real estate management systems can pose challenges such as data migration, system integration with existing tools, and user adoption due to resistance to change or lack of technical skills.

Emerging Trends in Real Estate Management Systems: - Artificial Intelligence (AI) and Machine Learning (ML): AI and ML technologies are being integrated into real estate management systems for tasks like predictive analytics, automated property valuation, and chatbotbased customer support. - Technology is explored for secure and transparent property transactions, smart contracts, and property ownership verification. - Sustainability and Energy Efficiency: Real estate management systems are incorporating features to monitor and optimize energy consumption, support green building practices, and comply with sustainability regulations.

Conclusion

Real estate management systems important topics in the field of web development. Real estate management systems can help property managers and real estate agents manage their properties and listings more efficiently, is a popular choice for developing web applications due to its simplicity and flexibility. The literature review highlights the importance of these topics and provides insights into the benefits and limitations of using real estate management systems for web development. The Real Estate Management System enhances efficiency and convenience for both users and administrators. Users can easily find properties that meet their requirements, view their details, and make bookings with a few clicks. Admins can efficiently manage property listings, track bookings, and ensure smooth operations.

References

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Copyright

Copyright © 2024 Prof. Vaishali Hatkar, Mr. Prajwal Rambhau Kumbhar. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.