So, you’re in real estate, and trying to “up” your game. Understandable. Most of us try to improve ourselves in some fashion or another. No matter what form it takes; self-improvement inevitably leads to a sense of satisfaction and positive self-esteem. In business, improvement can translate into greater sales, status, and income. Often, the biggest question is how. How do we go about improving ourselves? Obviously repetition is a great teacher. That which was hard in the beginning becomes easy over time.
Another approach to self-improvement is to acquire better tools. This approach seems to work across the board. Whether you’re playing sports, designing, building, cooking, cleaning, or engaged in the arts, a good tool can make all the difference in the world. Naturally, this also holds true in the realm of real estate sales. In Part 1 of Tablet Computers Close the Deal in Real Estate, we learned how a slate computer could prove its value to agents and agencies alike. Today we’ll be looking at a number of apps designed specifically for those engaged in real estate sales. For the sake of brevity, we’ve listed only a couple of real estate apps for the iPad, and likewise, two for Android tablets. Needless to say, this only skims the surface of the real estate apps out there. An Internet search of “real estate apps” will provide a world of resources to help you improve your sales and bottom line. So, let’s begin.
iPad Real Estate Apps
Property Evaluator – Real Estate Investment Calculator
Described as “the most powerful real estate investment analysis software“.
Now it’s easy to determine which is the best deal. By simply entering basic information about a given property, you can view performance projections, which enable you to do a true apples-to-apples comparison between properties. Furthermore, you can instantly email a PDF of the projections to anyone you like, including clients, investment partners, or lenders.
The iTunes Preview page lists the following benefits of the Property Evaluator app.
- Edit values, view reports, and save changes for a single property
- Change the holding period from 0 to 30 years, and all the numbers instantly update
- Take a photo and store it with the property
- View a map of the property
- A built-in mortgage calculator with complete payment schedules
- Allows semi-annual compounding for Canadian mortgages
- International units and currencies are fully supported
Furthermore, the Property Evaluator contains additional versions built right into the app. These include both the Premium and Pro versions.
The Premium version allows you to save data for multiple properties and includes what-if scenarios.
- Evaluate multi-unit and commercial properties
- Create multiple property portfolios, and perform portfolio analyses
- Store multiple photos
- Add a custom cover page and header to the PDF reports with your name, company, logo, and contact information
- Itemize your closing costs and improvement costs with custom categories
- Estimate improvement costs by entering your own quantities and costs per unit
Visit this link to see additional screenshots and view a sample of a PDF report.
Real Estate Calc: Mortgage & Home Loan Qualification Calculator
Perfect for Real Estate Sales Representatives and Brokers, Real Estate Calc features an easy to use interface. Designed to make your job easier, the handy app comes loaded with a heap of helpful functions. Dealing with a target monthly payment? Real Estate Calc quickly computes the amount of money necessary for a down payment, in order to achieve the monthly goal. This can be entered as a percentage or in dollar value. Unsure of the monthly payments? The built in Mortgage Calculator estimates the monthly installments. Furthermore, the Commission Calculator quickly determines the Sales Representative’s potential profit for any given transaction.
Real Estate Calc doesn’t stop there. It continues to add value with this list of helpful features:
A Loan Qualifier
Now you can instantly determine if your client has the necessary income to afford any given property. You can calculate from either the front end or the back end. You also have the option to modify the requirement rates. Note: Down payments for the Loan Qualifier can be entered either as a percentage or in dollar value. The app automatically converts from percentage to dollar value, or vise versa.
Email Detailed Reports
This handy feature allows you to quickly email detailed reports without leaving the app. Keep everyone in the loop, including head office, clients, and yourself (After all; you can’t remember everything). Real Estate Calc also allows you to customize reports before you send them.
A Cash flow Calculator
For clients looking to purchase investment property, Real Estate Calc determines whether a property will be profitable or whether it will result in a loss for the investor.
Who should purchase this App?
- Real Estate Sales Representatives
- People in the Mortgage industry: Loan Officers, Mortgage Brokers, etc.
- Real Estate Investors
- Home Buyers
- Home Sellers
- Property Managers
Android Real Estate Apps
Calculator & Converter Pro by White Gorilla Media, Ltd.
One of only a few apps designed specifically for Android tablets (Honeycomb 3.0+), this ad-free, multi-purpose calculator serves first and foremost as a basic calculator. With virtually no processor strain or battery draw, Calculations 3.0 Pro goes beyond its role as a calculator, by preforming a number of other advanced functions. It allows you to do the following:
- Unit Measurement Conversion (length, area, volume, weight, time, temperature)
- It’s a Mortgage Calculator
- Finally it’s a real-time Currency Converter for over 90 international currencies
Overall, it’s a handy app for real estate applications and day-to-day life. Get it now.
Click here to purchase and download Calculator & Converter Pro.
iQuick Mortgage Calc by iQuick Data Inc.
iQuick Mortgage Calc is a diverse loan and mortgage calculator with a host of useful features. One such feature allows the user to calculate monthly payment amounts. Another feature calculates the amortization schedule for Fixed and ARM mortgages, including those with balloon payments.
As described on the Android Market, here are some of the app’s other notable functions:
- Calculate PMI fixed rate mortgages with automatic drop in monthly payment once LTV becomes 80%.
- Estimate savings by making additional payment each month (or one-time)
- See snapshot of a loan, including total balance, interest rate, total interest paid, monthly payment etc.
- Save complete payment schedules on external or internal SD memory.
- Determine impact of making extra payment on your loan, which can dramatically reduce the cost of loan.
- Present calculation in USD as well as in other commonly used currencies around the world.
- Compare loans to see which is best. It lets you compare up to 10 loans.
- Email amortization table using SMTP servers (with SSL authentication), such as Gmail, Yahoo, etc.
- Export and attach amortization table in CSV format.
That’s a lot of calculating power for under a buck, and a boon to any Real Estate Sales Representative. Get yours today.
Click here to purchase and download iQuick Mortgage Calc.
Suggested Tablets for Real Estate Agents
Well, we’ve covered a lot of ground on how tablets can assist in the real estate business and benefit real estate agents and STILL we’d like to help more. So, we will.
Darryl and I have combined thoughts and winnowed through the abundance of slate computers on the market. Our aim was to determine which models we would best suit the needs of those involved in the world of real estate. We’ve made our choices and now present them to you with all meekness and humility.
Due to the abundance of apps and overall functionality, we certainly have to recommend the iPad 2 32GB with 3G for personal and business needs. The iPad was the first tablet computers on the market, and remains the dominant market leader. As such, no one will have any trouble finding apps to best suit their needs. Furthermore, iPad’s remain versatile and more than capable of meeting the needs of those in the real estate profession. Get yours today.
Apple iPad 2 – 32GB, Wifi + Verizon 3G (black)
Apple iPad 2 – 32GB, Wifi + Verizon 3G (white)
Last, but certainly not least we present the Samsung Galaxy Tab 4G 10.1″ 32GB Android Tablet (Verizon Wireless). The Samsung Galaxy Tab is currently the thinnest (8.6 mm), lightest (565g) large screen mobile tablet on the market. Unlike its iPad competitor, it features 4G rather than 3. Effectively, this translates into faster Internet connectivity.
The latest Android Operating System supports the Galaxy Tab in the permutation of Honeycomb 3.1. Although optimized apps are currently few and far between, this is in the process of changing. Even now developers are furiously focused on creating new and useful apps for the Honeycomb Operating System.
Overall, the Galaxy Tab is the most full-featured tablet available. Backed by a powerful 1 GHZ Dual Core processor, the Galaxy Tab is blazing fast. It boasts a customized user interface and full portfolio of accessories. Whether for work or full multimedia entertainment, the Galaxy Tab is sure to please. Get yours now.
Samsung Galaxy Tab 4G 10.1″ 32GB
A full time Realtor, and friend of ours was kind enough to provide us with a list of Android apps that she uses daily for her real estate transactions. We’ve included the list (without descriptions) to share with fellow real estate agents.
Here’s the list: