GIG HARBOR, WA-Information exchange technology company ePropertyData has formed a strategic relationship with Investit Software Inc., a leader in development of affordable real estate investment, development and lease analysis software for the commercial real estate industry. Based on specifications provided by Investit, ePropertyData developed an entry level, web-based product, called Investit Lite.
"Investit Lite is great for quickly analyzing and valuing simple investments, such as rental apartment properties, small office, retail, industrial buildings and more," says Ronnie Dean, principal with Investit Software. Dean tells GlobeSt.com that approximately 85% of the commercial real estate marketplace are “the little guys,” or the “local players” that own a few shopping centers or a few office buildings, and this product was made for them. “There are easily 75,000 companies that aren’t the big shots and that is where the money is… we wanted to go after the middle-of-the-road players,” Dean says.
“This partnership illustrates the continued value we bring to our CIE environment,” explains Connie Capone, CEO of ePropertyData. “Real estate professionals have all the tools necessary, all in one place, to profitably buy and sell commercial real estate.”
According to Dean, Investit Lite is a usable, free, online product that will help CIE members get started in understanding the relationship between their investment goals and the numbers needed to get there. “It benefits those beginning players that want to run numbers and get started.”
Dean points out that “once users of Investit Lite see what they can get from the product, hopefully some of the 150,000 subscribers will be curious enough to download our larger version product….It’s a good bet…and it is affordable ($49 per month).”
Dean explains that one of the reasons ePropertyData chose Investit Software, is that Investit has a “stepping stone” approach that enables a user to start with the version with less features and then move up to Investit Pro for the full featured product. “If you are serious about the business, the $49 per month for Investit Pro should not be a burden. After all, in our world, when entertaining clients, it’s just lunch.”
But beyond the free software, Dean notices that the middle of the market local regional players have been underserved. “They don’t have the software that they need,” he says. “They can’t afford it, don’t want to learn it, and the baby products just don’t touch on the service they need, so they are just not being served properly.”
He adds that “now that commercial real estate is beginning to regenerate interest, firms are planning for the future. The majority of people out there just need good, quality software that is affordable. We want to give them good value for a good price.”
ePropertyData helps its clients organize their marketplace while owning and controlling their data. ePropertyData currently powers 13 commercial information exchange systems representing over 150,000 commercial practitioners nationally. Members of these 13 commercial information exchanges can access the Investit Lite software application for free.
Details about the software product can be viewed here and here.
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