No matter what role you play in real estate, you likely rely on a lot of technology every day. In fact, there are dozens of real estate software programs that help with everything from generating leads to managing multiple listings. You can probably think of a few digital tools for real estate that you use regularly. But have you ever considered releasing software for your clients to use to make real estate transactions easier? If you’re wondering how that’s even possible without having a degree in software engineering, the answer is white label software.
If you’re not familiar with this, it’s when you buy licensed software that was developed by another company, and then add your own branding so it looks unique to your firm. Basically, you’re getting permission to add your logo and company colors to the software before you offer it to your clients to use during real estate transactions. So, why exactly should you do this? Take a look at the main benefits of white label software before you decide if this is the right option for your real estate company.
The more products you have under your brand’s label, the more chances you have to get your company’s name out there in front of consumers. So if you can easily end up with a product that features your real estate brokerage or title company’s logo and brand colors, why not do it?
Basically, white label software allows you to end up with a functional product that your clients can use as they begin the home buying or selling process. But even when you’re not using it for your real estate clients, it’s acting as another branded item that just might catch the eye of a potential buyer or seller! That alone often makes white label software worth a try.
One of the best ways to create a smooth experience for buyers and sellers is to keep as many processes in-house as possible. After all, pointing your clients in the direction of another company for certain parts of the real estate transaction can be a little confusing and might disrupt the flow of the process.
For example, when you’re explaining closing costs to your clients, do you really want to direct them toward another company when it’s time to pay those costs? Or would you rather be able to offer your own white label software that lets them easily and securely pay online? Basically, the more products you can offer from your own company, the better!
When you’re able to take care of most of your clients’ real estate needs—rather than having to outsource nearly every process—you can create a reputation that you’re among the best in the industry. This is another reason white label software is considered ideal.
Think about how you feel when you’re a consumer trying to purchase a product that has lots of accessories. Would you rather buy the product from one company and then contact five other brands to get the accessories you need to use that product? Or would you rather buy it all from one brand?
The latter means you don’t have to research and create relationships with several companies. Instead, you only have to get to know one brand. And once you realize that brand can meet all your needs as a consumer, you develop trust and loyalty toward it, going back to get the other products you need over time.
If you want your real estate clients to feel the same way toward your company, you should do your best to become a one-stop shop for as many services as you can manage. You can start by using white label software for important processes, such as paying closing costs online.
One of the most practical reasons to use white label software is to save yourself a lot of time. Your team is already busy finding homes for clients, dealing with endless paperwork, completing title searches, working on closing days, and more. You probably don’t have time to build helpful software on top of all that!
Whether your employees happen to have the skills to build software or you were considering hiring a team that does, all of this takes time. In most cases, it takes about four to nine months to release new software, and that’s assuming the team launching it is experienced at this task.
If anything goes wrong with the software launch—which is not uncommon—it could be a year or more before your clients see the finished product. But even when everything goes pretty smoothly, you’ll still have to make time for beta tests and revisions before you can release the software with confidence.
If you don’t want to wait months or years to release helpful tools for your clients to use, white label software is the best way to go. There’s no need to reinvent the wheel when you can just buy software that’s ready to be branded by your company and used by your clients within days!
Finally, there’s the issue of funding. Simply put, it costs money to develop software. You have to pay a team to develop it over several months. And if you don’t have the right equipment or tools for that team to develop the software, you have to buy that, too.
When you buy white label software, you’ll save not only time but also money. It’s typically cheaper to pay for the finished product than to pay for all the costs that are likely to add up over months of development.
Plus, if you experience any technical difficulties with white label software over time, you’ll usually have access to ongoing support so you don’t have to spend time and money trying to fix the issue yourself. In this way, white label software is a cost-effective way to get a proprietary tool that works well for your team and your clients alike.
Now that you know the benefits of white label software, are you thinking about trying it out for your real estate firm? If so, consider using paymints.io. This tool aims to make digital payments easy to complete, allowing your clients to feel confident that their payments will securely make it to the right recipients when they pay closing costs. And since you can white label paymints.io, your real estate brokerage or title company will get the credit for the ability to pay online securely! Schedule a Demo today to learn more about what we can offer your company.