Real estate contract management software: a guide for 2024

Buyer’s Guides
May 10, 2023
In this guide, we’ll explore how real estate professionals can turn the tide on inefficient contract workflows and close deals faster with real estate contract management software.

What is real estate contract management? 

Real estate contract management refers to the process of creating, negotiating, executing, and tracking contracts related to real estate transactions.

It involves managing a wide range of documents, including lease agreements, purchase agreements, listing agreements, and property management contracts.

But real estate contracts are distinct from other business contracts for a few reasons:

  • Lots of stakeholders. It’s common for real estate transactions to involve a lot of different people, so effective collaboration is particularly important for these documents 
  • Highly regulated. Real estate transactions are subject to lots of different laws and regulations, so real estate professionals require more visibility and better obligation management processes to ensure compliance

This makes them particularly difficult to manage without the right tools and safeguards in place.

Why is effective contract management important for the real estate industry?

The real estate industry is complex. A single real estate transaction involves numerous stakeholders such as buyers, sellers, agents, brokers, lenders, and property managers. Each transaction also requires the creation and management of multiple contracts and documents. 

Given the number of documents and stakeholders involved, a real estate contract management process can soon become messy without the right measures in place. Contractual obligations are missed, contracts get lost and contractual disputes arise. 

Effective contract management processes can help to ensure that transactions are executed properly, and that the parties involved have visibility into their individual rights and responsibilities, reducing costly disputes and confusion. 

How can real estate contract management software help?

Real estate contract management software can streamline the process used to manage real estate contracts and automate routine admin tasks throughout the contract lifecycle. This, in turn, will make the process of creating, signing and agreeing real estate agreements much faster. 

A contract management solution like Juro can also improve the process of managing real estate transactions by providing more visibility into contracts and making them easier to find. This is because Juro’s data-rich contract repository centralizes contract storage and captures important contract metadata like inspection deadlines, party names and purchase prices by default. 

To find out more about how Juro’s all-in-one contract management software can streamline the contracting process for real estate transactions, hit the button below. Otherwise, keep reading.

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Real estate contract management software features to look for 

When considering real estate contract management software, there are a few specific features that prove particularly impactful.

1. Automated contract templates

Automated contract templates can streamline the process used to create contracts by enabling teams to generate real estate contracts in just a few clicks. 

Rather than drafting them from scratch, Juro users can generate contracts from an existing, pre-defined template. These can then be populated by answering a simple series of questions (a Q&A workflow).

The contract templates can also have rules and conditions built into them, meaning certain terms or clauses will be added or removed depending on the data provided. For example, your property management agreement template could have a rule to include additional clauses or indemnities depending on the dollar value of the contract.

This makes it quick and easy for real estate professionals to initiate contacts without inviting contractual risk

2. Approval workflows

Real estate contracts often have a lot of stakeholders, so having a fast, efficient and secure way for stakeholders to approve contracts is key. 

Real estate contract management software, like Juro, can automate these processes by setting up approval workflows at a template level, or for contracts that meet certain conditions. 

These approval workflows are highly customizable, allowing contract owners to set a sequence of approvers and use conditional logic to determine if and when approval is required. 

This enables real estate professionals to get contracts approved and signed faster, without letting contracts bypass senior stakeholders. 

3. Mass actions 

Real estate contracts are typically managed at scale, with multiple legal documents for each transaction.

Manually signing each and every contract one by one can be a burden for senior stakeholders, and waiting for them to put their seal of approval on these documents can delay transactions further. 

That’s why it’s worth looking for a tool that enables you to mass-sign routine contracts, like Juro. In Juro, stakeholders can select all of the contracts they wish to sign in the contract repository and add electronic signatures to these all at once in just a few clicks. 

This is just another example of how Juro enables real estate teams to safely automate routine contract admin and speed up transactions.

4. Data-rich contract repository

Real estate contract management software should also provide instant visibility into your contract data, making it easier to track and monitor your contracts at scale. 

This visibility enables real estate professionals to find, query, filter and report on contracts in seconds, rather than searching high and low in shared and local drives to review each one manually. 

This feature is especially important for the real estate industry as contracts are typically created, stored and managed in large volumes, making it difficult to source the right files. 

Juro’s data-rich contract repository is perfect for real estate transactions because contracts created in Juro are built as structured data, enabling teams to create custom table views that can be shared across the business with ease. 

5. Alerts and reminders

One of the biggest challenges associated with tracking real estate contracts is keeping sight of upcoming due dates and deadlines. The more contracts you have, the harder this is. 

Automated contract reminders eliminate this problem by keeping your teams in the loop about contract deadlines. Juro users can set up automated reminders for any date field in their contract, meaning they can be notified ahead of any important contract dates, including commencement dates, termination dates and contract renewal deadlines. 

This feature is especially useful for real estate contract management since real estate contracts tend to have a longer contract duration, meaning these dates can be far in the future. 

6. Integrations 

It’s also worth looking for a real estate contract management software that connects with the tools you use already. 

For example, Juro integrates seamlessly with a wide range of real estate tools and CRMs through Zapier, including Wise Agent CRM, Zillow, Cloze, Real Geeks and Chime. 

This enables teams to generate contracts in seconds, with all of the transaction data pulled from the CRM directly into the contract to populate it. 

Which real estate contract management system is best?

There are plenty of contract management solutions that serve the real estate industry. However, some tools serve real estate professionals better than others - and Juro is one of them. 

Juro has all of the features we just described and more. Juro’s all-in-one contract management platform is flexible, collaborative and data-rich, giving real estate professionals complete control over their contracts while safely automating manual contract admin. 

That’s why Juro is the contract management tool of choice for growing businesses in the real-estate and proptech space, with customers like AppearHere, WeWork and HappyCo. 

To join the 6000+ companies already using Juro to manage their contracts, fill in the form below. 

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