Have you ever struggled to find accommodation? 90% of us have gone through that phase (be it purchasing or rentals/ lease). It is frustrating, tiring, at present disappointing during this COVID-19 phase. But thanks to real estate app development everything can be managed well.
Until most recently, one had to get in touch with a real estate agent who meets all your requirements. There have been many cases, where the investors are misled and duped. This is where mobile app development came into the picture. As more and more users were depending on smartphones.
It has been noted that people have been distracted while using smartphones.
This is the reason why all A-lister real estate agencies have opted for iOS and Android app development services. As there are major users for these two operating systems.
Zillow, Xome, Redfin, and Trulia are some of the leading examples of this niche. According to statistics by DMR, Zillow has more than 160 million users. Now that is a great number. What do you think?
So, why should you have a real estate app?
Numerous investors have raised this question, “Is it worth investing in real estate apps”.
Well, the answer is “Yes”!!
Let’s check some stats and facts to clear this doubt first!!
5.34 million homes were sold in the year 2019 alone. They reported that almost 78% of GenX and 80% of Millenials used mobile apps to find their dream home.
It is speculated that almost 90% of agencies working in this niche have listed their business online. And it is a promising time for business owners to invest in this niche.
By checking at the image above, it is very much clear that the maximum crowd loved to allocate their maximum time on mobile apps.
The above image clearly depicts that it is not wise to just stick to mobile websites. As it will not expand your business. People deviate more time on mobile apps. Hence, it is always good that you hire a real estate app development company. They will develop real estate apps with the right approach.
In 2020, a mortgage loan agency, Fannie Mae raised a representative sample poll. They polled around 1006 decision-makers of the United States household. They took the survey between the age slab of 18-older. This survey confirmed almost 29% of individuals opted to sell their property during the pandemic. Since then the numbers are expanding. They conducted the same survey this year (i.e 2021) in the month of March. It revealed that 61% would not mind selling the property now. Now, don’t you see a huge difference?
Top Trends That are Disrupting The Real Estate Industry
The users are not interested in ordinary apps. Rather, people prefer apps that have comprehensive technologies. These technologies can make the functionalities easier. Below mentioned are the top trends that have disrupted the real estate industries. They are as follow:-
- AI and ML
- IoT
- Big Data
- 5G
- VR
- Blockchain, and many more!!
Strategy To Earn Money via Real Estate Mobile Apps
It is always better to have a strategy to develop a business model. You can add it by implementing premium models as well as subscriptions.
For instance, you can enrich yourself with free services for basic features and functionalities. You can add a paid version for extra features.
You can also run advertisements to earn extra money. All the leading giants are using this strategy to earn their profits.
Categories of Real Estate
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Residential:
These are prominent categories where investors love to invest. This includes the properties like fourplex, triplex, duplex, penthouses, townhomes, single-family homes, etc.
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Commercial:
It will include categories like retail spaces, health care spaces, churches, temples, etc.
How to Develop Real Estate Mobile Apps?
You must learn the purpose of the real estate app you possess.
Noticeably, you must implement special features for tenants/purchasers and agents. You can develop two separate apps. But nowadays, it is better that you develop one app for both roles. The benefit of developing a single app is you can save a lot on the cost. You must ensure to develop an admin panel for the management of the entire service.
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Onboarding
This is one of the basic features that you must implement in your mobile apps. One can initiate it in the following ways:-
- Verify the users via smartphone
- Authorizing the user via the email account
- Authorizing the user via social media account
You can opt for any of the above-mentioned features. It will assist the user to sign in to your apps. But make sure that you do not make any compulsory for onboarding at the initial stage.
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Individual Profiles
Make sure you develop two different personal profiles for both investors and agents.
For The Agents
Here you can build the following features that display the schedules and properties. You can exhibit the profile of buyers/tenants
For Purchaser and Tenants
You should prepare a browsing list for the buyers they checked.
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Listing and Database
The database is one of the critical aspects of any mobile apps. To designate a successful mobile app you must have all the essential features. Hence, you must prepare the business listing of the promising purchaser/ investor. Make sure you exhibit all the extensive information in the directory.
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Categories and Filters
Discovering an excellent property is one of the challenging scenarios for buyers/ tenants. Therefore, you must implement innovative categories and filters in your mobile app. Because they are the elementary tolls that users (buyers) will need.
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Reviews of Property
For this, you can display the image or details about the property. You can also classify the price for rentals/purchases.
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Shortlist
It is also good that you give the users an option to shortlist the property. It will help the user to quickly make their decision. You can create a profile and menu of the shortlist.
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Maps
A map can display the location to the users (tenants/ buyers/ agents). One can also add the nearby prominent locations, stats, and landmarks. For this, you can visit any government site and do the research.
There are numerous other features which include call buttons, push notifications, price calculators, etc.
What is The Cost of Real Estate App Development?
Below mentioned are the main things that play a major role in this niche:-
- The development cost of the mobile app agency you have hired
- Technologies
- Feature set
Again the cost of development may differ based on region. For instance, you can develop an app for $150 per hour in the United States. Contrary, one can develop the same product from India at $8-$80.
Also Read: Judicial real estate auctions: how do they work?
What does the future hold?
You must understand that the success of your app totally depends upon the following:-
- Marketing
- Functionalities
- Numbers of real estate properties listed
It is quite challenging to establish your business without implementing any digital assets. For this, one can hire mobile app developers. They will display your services as well as your product. It will also generate great business leads that can help you to earn huge profits.
These developers will have proficiency and might have assisted numerous realtors. They will assist and transform your business fruitfully.
So, what’s holding you back? Develop a real estate app now!
Author’s Bio
Pranay Aggarwal is the CEO and CO-Owner of MobileCoderz Technologies Pvt Ltd, the leading mobile app development company. He is a technically sound and certified mobile app developer. He has guided numerous product cycles and has effectively designed superlative mobile apps. He has helped many start-ups to establish their business in the cutthroat market. In his free time, he develops writeups on the latest innovation and trends.
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