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MRI Software vs SoftPro

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Our analysts compared MRI Software vs SoftPro based on data from our 400+ point analysis of Property Management Software, user reviews and our own crowdsourced data from our free software selection platform.

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MRI Software Software Tool
SoftPro Software Tool
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Product Basics

Analyst Rating

86 Detailed Analysis

User Sentiment

Great User Sentiment (79 Reviews)

Analyst Rating

we're gathering data
Detailed Analysis

User Sentiment

Great User Sentiment (18 Reviews)
MRI is a real estate management suite consisting of four offerings: Platform X, Application Gateway, Analytix, and Secure Sign. Platform X helps integrate with third-party applications, create a centralized management environment and access information online. Application Gateway provides a single point of entry for Platform X, data integrations, cross-functional workflows and access to the MyMRI support portal.

Analytix includes reporting, data visualization, portfolio analysis, ad hoc querying and interactive dashboards. Secure Sign securely manages e-signatures, sets workflows for document management and streamlines transaction and contracts processes.
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SoftPro is a web-based application for supervising real estate closing, title insurance and escrow services. It offers accounting and reporting and allows users to manage documents, maintenance tasks and workflows. It helps automate processes and form submissions, and customize documents to stay compliant. It allows integrations with shipping, notary, underwriters and more. It has three plans: standard, select and hosted, and supports Windows.
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$200 Monthly
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Product Insights

  • Reduce TCO: Save time and resources spent on software maintenance and IT infrastructure by hosting the platform on the vendor’s server. Ensure fast performance with tier 1 ISP and use Gartner Magic Quadrant for data center networking. 
  • Ensure Accuracy: Eliminate manual error by automating administrative tasks, ensuring accurate data entry across all fronts, including leasing, accounting, work order, invoicing and more. 
  • Streamline Accounting: Mitigate risks and capitalize on opportunities using the accounting module that supports AP automation, vendor invoicing, property and tenant-specific ledgers, budgeting, forecasting, and more. 
  • Custom Integrations: Connect with over 150 partnered third-party software to add unique functionalities like rent analysis, ILS channels, marketing suite, payment processors and more. 
  • Centralize Management: Avoid working on disparate platforms and use unified software to manage marketing, maintenance and accounting of the entire portfolio. 
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  • Streamline Escrow Documentation: Manage closing, title and escrow of the entire portfolio from a single screen. Generate residential and commercial closings efficiently with a few clicks. 
  • Simplify Administration: Automate recurring tasks like updating orders, adding tasks based on the order information, running reports, accepting products and more. 
  • Personalize Dashboards: Design custom work areas with shortcuts to closing templates, custom reports, business insights and other dashboards. 
  • Scale Easily: Connect with underwriters and integrate third-party software to add features during business scaling. 
  • Improve Accounting: Automate bookkeeping, schedule three-way reconciliations, print checks and balance ledgers. 
  • Streamline Communications: Offer customers a unique portal to submit new orders, track real-time status, send documents and chat with managers. 
  • Take Better Decisions: Identify trends and capitalize on opportunities by tracking personalized KPIs and automating periodical reporting. 
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  • Property Management: Manage residential and commercial properties under a comprehensive system and control the entire business lifecycle. Scale and adapt to strategic shifts with a customizable open API solution. 
  • Property Accounting: Centralize data, streamline accounting, comply with new lease regulations and automate payables from a unified dashboard. Additional capabilities can be added through integration with Partner Connect, giving access to third-party tools for accounts receivable automation, electronic payments, debt collection and more. 
  • Risk Management: Choose suitable residents, eliminate rental fraud and protect the community with the following tools: 
    • Identity Verification: Mitigate risks and prevent fraudulent parties from entering the property by verifying IDs before tours or showings. Leasing agents can perform unlimited scans to verify passports, driving licenses and more, and receive instant results. 
    • Resident Screening: Maximize financial performance and reduce delinquencies with a customizable screening process using a proprietary AccuScore analytical model. Tailor the process for all housing types, including conventional, affordable, public, military, student and senior housing. 
    • Multifamily Insurance: Include resident insurance as part of a lease to reduce liability. Protect properties, residents and owners in case of disasters and easily manage active policies and claims. 
  • Asset Management: Analyze investment opportunities, identify risks and manage assets at both the investment and property levels with the following: 
    • Investment Central: Monitor data from a central repository to manage investments and drill down on opportunities with a better-informed portfolio view and strategies. 
    • Asset Modeling: Monitor, analyze and forecast the current and future state of portfolio assets. Leverage sensitivity scenarios to anticipate market and tendency changes, and reduce risk exposure. 
    • Analytix Portal: Gain actionable insights and clean data with the flexible BI module. Visualize data, maximize performance, optimize profitability, analyze geospatial data and more. 
  • Debt Modeling: Model multiple contract debt scenarios for optimal deal structure and improve decision making with centralized storage of all data, an arrears calculation engine and comprehensive forecasting and reporting. 
  • Lease Abstraction: Save time and error by extracting data from leases using AI. Review leases with a proprietary Optical Character Recognition (OCR) engine, converting them into machine-readable text. Each extracted data point is linked with the source material to maintain a complete audit trail. 
  • Lease Management: Access a single source for all data points for managing lease contracts, including start and end dates, security deposits, personalized clauses, lease terms, documentation and more. 
  • Lease Accounting: Maintain compliance with core accounting regulations, including ASC 840 and the new FASB ASC 842, IASB IFRS 16 and GASB 87 standards. Automate calculations, save time, reduce errors and maintain an accurate audit trail by capturing data at the source, eliminating multiple entries. 
  • Facility Management: Ensure on-time maintenance and provide improved services to tenants while decreasing costs and overheads with the following modules: 
    • Workspeed: Manage, view and create work orders and maintain accurate records. Leverage the industry’s best practices and standards to perform preventive maintenance and extend assets’ life spans. Provide managers, owners, tenants and vendors with a common messaging platform via the web-based mobile communication hub. 
    • Visitor Management: Provide building security personnel with an intuitive interface to register and check-in visitors and verify identification. Managers can access accurate, real-time lobby data, and residents can electronically pre-register guests. 
  • Space Management: Increase efficiency and reduce costs with better utilization of real estate space. Plan department allocation, CAD floor layouts, seating charts, personnel moves, space chargebacks and more. Streamline HR, IT and security team processes on a centralized platform. 
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  • Closing, Title and Escrow Production: Monitor and manage the entire cycle — from order entry to drafting the final title policy. Leverage a robust library of documents, including HUD-1 settlement statements, ALTA settlement statements, CDF, disbursements summary, title commitments, policies and more. Print documents and auto-populate data in appropriate locations. A few supplemental offerings include: 
    • Automation: Automate repetitive tasks to improve performance and accountability while preventing bottlenecks and missing tasks. Available with the Select and Hosted plans. 
    • Settlement Statements: Generate master or individual settlement reports for buyers, sellers and properties. Customize statements for each order and office, and associate one or more properties with a charge. Available with the Select and the Hosted plans. 
    • Multi-User: Have multiple people access and work on an order simultaneously. Communicate with others via a chat tool. Available with the Select plan. 
    • Add-Ons: Build a suitable solution by adding an integrated calendar, BI-equipped dashboard and task notification tools. Add SoftPro Live to communicate current order statuses with customers. 
  • Accounting: Automatically record every deposit, pending or voided check and other miscellaneous transactions. Maintain ledgers and print reports for quick reconciliation and auditing procedures. Manage interest bearing accounts and track disbursement of construction draws. A few add-ons include: 
    • ProTrust Accounting: Import the bank’s information file and approved transactions for faster reconciliations. Generate reports to identify duplicate transactions and other errors. 
    • Positive Pay: Prevent illicit check writing by compiling all cleared checks within a specific date range into a file, which can be sent to banks for authorization. 
    • 1099 Tax Forms: Automate generation of 1099-S records for IRS submission. Get notified of discrepancies and erroneous information in the report while closing procedures. Automatically collect 1099 data throughout the year and auto-export data from the escrow module for electronic submission at the IRS site. This optional module is available with the Select and Hosted plans. 
  • Document Management: Track, store and edit unlimited documents and images from a centralized library. Declutter physical cabinet files by scanning and digitizing documents using the barcode scanner. With the Select and Hosted plans, annotate and quickly markup PDF documents and specify permissions for secure documents and folders. 
  • Document Creation: Create custom documents using third-party software or use ProDesign, a paid add-on, to insert graphics, text, field names, IF-statements and more. Link documents automatically to data from the closing file. Store and generate unlimited documents. 
  • Reporting: Leverage more than 100 built-in report templates or build custom reports and drill down on critical areas. Create ad-hoc reports or automate recurring reports. Export reports to MS Excel for quick sharing. 
  • Integrations: Use SoftPro 360 to leverage integrations for underwriting, lien release, tracking and reporting, notary services and more. Build a full-stack solution for all closing, title insurance and escrow needs. Available for free with all versions; pay only for the services and not the platform. 
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Product Ranking

#30

among all
Property Management Software

#38

among all
Property Management Software

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Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

MRI Software
SoftPro
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Accounting & Financial Management Business Operations Dashboards And Reporting Leasing Maintenance Marketing Platform Capabilities 90 84 71 90 85 83 98 0 25 50 75 100
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User Sentiment Summary

Great User Sentiment 79 reviews
Great User Sentiment 18 reviews
87%
of users recommend this product

MRI Software has a 'great' User Satisfaction Rating of 87% when considering 79 user reviews from 3 recognized software review sites.

80%
of users recommend this product

SoftPro has a 'great' User Satisfaction Rating of 80% when considering 18 user reviews from 2 recognized software review sites.

4.8 (4)
n/a
3.9 (9)
4.0 (2)
4.4 (66)
4.0 (16)

Synopsis of User Ratings and Reviews

Streamlined Accounting: MRI's capabilities simplify complex accounting tasks, such as managing multiple bank accounts and generating financial reports. The software also offers features like automated invoicing and online payment processing, which can save property managers time and effort.
Comprehensive Tenant Management: MRI provides tools for managing tenant information, including lease agreements, maintenance requests, and communication history. This can help property managers stay organized and efficient, and it can also improve communication and relationships with tenants.
Efficient Maintenance Management: MRI offers features for tracking maintenance requests, scheduling repairs, and managing vendor relationships. This can help property managers ensure that maintenance issues are addressed promptly and efficiently, which can improve tenant satisfaction and protect the value of the property.
Improved Reporting and Analytics: MRI provides a variety of reporting and analytics tools that can help property managers track key performance indicators, identify trends, and make data-driven decisions. This information can be used to improve operations, reduce costs, and increase profitability.
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Streamlined Workflow: SoftPro's intuitive interface and automated processes make it easy to manage tasks like scheduling appointments, collecting rent, and processing payments, saving time and reducing errors.
Comprehensive Reporting: SoftPro provides detailed financial reports and property performance metrics, giving property managers valuable insights into their operations and helping them make informed decisions.
Strong Communication Tools: SoftPro's communication features, such as email and text messaging, allow property managers to stay in touch with tenants and vendors, ensuring smooth communication and timely responses.
Mobile Accessibility: SoftPro's mobile app allows property managers to access key features and manage their properties from anywhere, anytime, providing flexibility and convenience.
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Steep Learning Curve: Users report that MRI is not intuitive and requires extensive training to use effectively. The interface can be overwhelming for new users, and the software's complexity can lead to frustration and inefficiency.
Customization Challenges: While MRI offers customization options, users find the process to be cumbersome and time-consuming. Implementing custom features often requires assistance from MRI's support team or third-party consultants, which can be costly and inconvenient.
Reporting Limitations: Generating reports in MRI can be challenging due to the software's complex data structure and limited reporting capabilities. Users often need to export data to external tools for further analysis, which adds complexity to the reporting process.
Integration Issues: Integrating MRI with other software systems can be difficult due to compatibility issues and data mapping challenges. This can hinder data flow and create inefficiencies in workflows that involve multiple systems.
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Limited Reporting Capabilities: Some users have reported that SoftPro's reporting features are limited, making it difficult to generate the specific reports they need for their business. For example, some users have found it challenging to create custom reports or to export data in a format that is compatible with other software programs.
Steep Learning Curve: SoftPro can be a complex system to learn, especially for new users. The interface can be confusing and the software may require extensive training to use effectively. This can be a significant barrier for smaller property management companies with limited resources.
Lack of Mobile Functionality: SoftPro's mobile app is not as robust as some other property management software options. This can be a major inconvenience for property managers who need to access information or manage tasks on the go.
Customer Support Issues: Some users have reported experiencing difficulties with SoftPro's customer support. They have found it challenging to get timely and helpful assistance when they need it. This can be a major frustration for users who are struggling with the software or who have urgent issues that need to be resolved.
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MRI Software has established itself as a leading contender in the property management software arena, boasting a comprehensive suite of features that cater to diverse needs within the real estate sector. Users frequently highlight its adaptability and scalability, enabling it to seamlessly accommodate the complexities of managing various property types, from residential complexes to commercial properties. The software's capacity to streamline essential tasks, such as lease administration, rent collection, and maintenance management, has garnered significant praise for its ability to enhance operational efficiency and optimize workflows. However, some users have noted that MRI Software's extensive functionality can lead to a steeper learning curve, particularly for those transitioning from simpler platforms. Additionally, while the software offers integration capabilities, some users have expressed a desire for more seamless connectivity with third-party applications to further enhance data synchronization and process automation. Despite these considerations, MRI Software's robust feature set, coupled with its adaptability and scalability, positions it as an ideal solution for property management companies, real estate investors, and businesses seeking a comprehensive platform to effectively manage their property portfolios.

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Is SoftPro the "software pro" for managing properties? SoftPro is a leading real estate closing and title insurance software solution used by a large number of customers, with a strong reputation for customer service, support, and product development. Users particularly appreciate its robust features for managing the entire closing process, from order entry to final title policy issuance. The software's ability to automate tasks, such as populating documents with data from a single entry, is a significant time-saver. Users also praise SoftPro's comprehensive training program, which helps them navigate the software's extensive capabilities. However, the sheer breadth of features can feel overwhelming initially, especially for users transitioning from less sophisticated systems. Despite this, SoftPro's exceptional customer support and training resources make it a worthwhile investment for businesses of all sizes in the real estate industry seeking to streamline their closing and title insurance processes.

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Screenshots

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Head-to-Head Comparison

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