Since Lightroom 4 Beta has been out now for 10 days and I've had time to play around with it I thought would try to sum up the features from the point of real estate photography.
As of Lightroom 3 when Adobe added the Lens Correction features, I believe Lightroom became an essential tool for every real estate photographers mainly because 90% of your post processing can be done very quickly all from within Lightroom.
Now the question is, if you are using LR 3 will LR 4 be worth the upgrade price? My assessment of Lightroom 4 is there are a couple of key features that will be well worth the upgrade for real estate photographers:
There are tons of other nice features in LR 4Beta but these two I believe will make it worth while for real estate photographers to upgrade. I don't know what the upgrade cost will be but I expect it will be like past upgrades and be around $100. For a nice description of many for the top features, including the two I point out above see the NAPP LR 4 Launch Center where Scott Kelby and Matt Kloskowski describe the new LR 4 Beta features in detail.
What About Aperture 3?
For Mac users a natural question is how does Aperture 3 compare to LR 3 and LR 4? I have and regularly use both Lightroom and Aperture 3 and I dearly love many of the interface features of Aperture 3 and I like the nice integration that Aperture 3 has with other Apple software like iMovie, FCP X, my iPhone and iPad but even LR 3 is clearly a better choice for real estate work just because of the Lens Correction features and LR 4 takes that margin of superiority to a new level. If you are a real estate photographer you need Lightroom (version 3 and version 4 when it is released). It will save you a huge amount of time.