The COVID-19 pandemic has hyper-accelerated almost every industry on the grounds of digitalization. The real estate industry is no different. In fact, the pandemic has fueled the real estate market with significant implications. Leaving landmark drifts in shifting trends, unprecedented demands, and migration patterns occurring on a global scale.
Among the key noticeable trends, sales of large homes in U.S have begun to gain traction with a growth rate of whopping 21 percent. And in this growth trajectory, real estate developers and/or realtors with a solid past track record are the main beneficiaries.
The Key Statistics and Trends in the Pandemic World
- As per the U.S department of housing and urban development reports, the sales of newly built and single-family rose 7.9%.
- Regionally, new home sales are 30.3 percent higher in the Midwest, 23.5% higher in the West and 4.8% higher in the Northeast.
- Forecasts projects existing-home sales to ramp up to 5.8 million in the second half. As demand ramps up and home buyers continue their strong return.
This V-shaped recovery and unprecedented demands in the real estate industry has given a frictionless pushback to real estate companies and realtors to diligently work to innovate and strategize their business.
And thankfully to sustain their online customer engagement efforts, we as a global real estate app development company provide trusted methods, tools to develop a high-end real estate app development solution that can warrant a plunge in your real estate sales.
Watch this space to be inspired by the methods and strategies huge real estate market players take to grow, market and manage their business. Stay updated with:
- Top Trending Features to Optimize Real Estate App
- See How Real Estate Businesses Can Navigate COVID-19 Crisis
- Top 10 Digital Strategies to Increase Sales and Drive Conversions On Your Real Estate App and Website
1. Smooth User Onboarding
Signup and Log in, though these features sound very common. Like every other app possess. But offering the same experience by collecting relevant user details helps businesses establish a connection with customers and offer enhanced services.
This can be initiated in three ways.
Let the customer login through:
- Email id or Google id authorization
- Social media account like Facebook
- Mobile number verification
While it’s good to have all, but any of this information acts as a great channel to enrich the customer relationships.
Next, you can build a different login system for property sellers and agents. As their loginization has to include legal documentation, property documents among others.
2. Advanced Property Listings
Listings, can’t be ignored of course. Sellers should be able to add their property for rent or sell conveniently. This feature displays lists of all the available properties with their details.
But considering the fact longer details are always overlooked, it’s always a good idea to include graphs and pictures to portray listings.
As 80% of the users take the property buying decision after looking at the images displayed.
And if you’re thinking to take it even further, videos are the best way to add transparency and property worth. AR-based videos are making headlines in customer’s enhanced searches to real estate app solutions. (We’ve discussed it in detail, ahead)
Besides, you can also make the listings information-rich and valuable for customers by showing neighborhood properties, Google street view, and Google directions. This feature will help users navigate the entire route.
One other eye lifter is Zillow’s Zestimate a home valuation model that estimates a home’s market value based on the data points like user-submitted info, home facts, and location and market conditions.
3. 3D Virtual Tours and Video Walkthroughs
Property viewings are the most daunting and time-consuming process for real estate agents and potential buyers. Consuming the fact, from the National Association of Realtors that 90% of prospective buyers go online to real estate apps to search and buy properties.
It is very obvious, giving a right property exposure to all potential buyers will not only give you quality leads but also an edge to stand out from the competitors.
With 360 ° virtual tours, panoramas, 3D walk-through, aerial photography parked alongside the property details you can boost your listings performance.
4. Property Search and Filter Search
A very important feature- search and filter. The deeper it gets, the better it reflects.
Understanding different search patterns of customers on your real estate app solution will help you go beyond standard search filters like budget, ratings, location, no. of rooms, bed, baths, terrace, etc.
Like Trulia has implicitly created a pool of homes based on specific search terms like “safer neighborhoods”, “home with remodeled kitchen”, “home with gardens”, etc.
This can be achieved by image recognition technologies like Machine learning and Natural language processing.
By enabling these visually rich property search filters you can make your content more discoverable and seamless.
5. Real-time Messaging
To establish an instant connection between buyer and seller or a realtor in between it’s necessary to integrate real-time messaging.
This feature will allow prospective buyers/sellers to communicate with each other without having to exchange numbers.
To integrate real-time chats for greater convenience and privacy there is a plethora of real-time chat API and messaging SDK for Android, iOS, and Web. Some of them worth considering are Twilio and Socket.IO.
Related Reading: Meet The Top Real Estate Apps With Their Exceptional Functionalities
6. Mark Favorite
Just like when you shop online on an eCommerce app and happen to mark a trail of items as a favorite while only ending up to purchase the one you like most.
The same is the property buying experience. Users may find multiple properties interesting and look for a way to compare all the sorted properties at the end; to choose their dream home.
By adding the ‘Mark Favorite’ feature users can shortlist and save the properties they like most. And make the best decision from their likings.
7. Property Valuation Calculator
Not compulsory though, but a meaningful addition in your real estate app development process is Property Cost Calculator.
It helps users to estimate the value of property anytime, anywhere and get right price of the property and the market value for investment.
Integrating one can help your users make smart property decisions.
8. Push Notifications
Push notifications boost engagement by 88%.
65% of users return to an app (or website) within 30 days when push is enabled.
Push messages have a 97% open rate. And there are many more to add…
Well, what better way to keep your clients informed about the new listings, mortgage rate cuts, and other information that shouldn’t be missed by a prospect.
Push notifications are an effective way to trigger user interest, increase app engagement and create a sense of urgency around your property.
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How Real Estate Businesses Can Navigate COVID-19 Crisis
The COVID-19 crisis has dramatically affected the demand for real estate assets including hospitality properties, rental and short term leases. The buying, selling, and migrating patterns of users were unpredictable.
Fear of viral outbreaks prompted some people to stay longer in current homes or pushed them to migrate to new physical spaces that met their preferences. In this hard drive, real estate owners and operators were the highest affected.
But in this turmoil, there were many industry leaders and real estate companies who set an example for others by pursuing digital analytics strategies, actively developing campaigns that helped them in improving operations, meaningfully engage with customers and catch up quickly with the outbreak.
As per the Mckinsey report, real estate industry leaders took the following commands to navigate the crisis:
- Earned the trust and loyalty of customers and employees by understanding their need of hour and protecting them to the extent they could. These efforts go a long way to protect and nurture relationships and value.
- Invested in digital offerings as users took a greater digital leap to get unexposed to the virus. The companies augmented their real estate app solution by contacting to real estate developers integrate enhanced features like contactless access to residences, creating virtual communities, personalizing features that redefines tenants experiences at right place and right time.
- Leveraged design, advanced analytics, data science to full swing to create greater customer value, gauge Homebuyers preferences and respond faster to their demands.
- Made personalized, informed decisions- in commercial lease concessions. They decided what tools can be used for leasing.
- Developed digital capabilities to reinvent the company operations and reimagine the buyers’ and tenants’ experience.
“Real estate is no longer just about four walls and relying on location for value appreciation.”
Scott Rechler, RXR CEO
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Related Reading: 5 Tried-and-True Conversion Ideas for Your Real Estate Website
Digital Strategies to Increase Sales & Drive Conversions
1. Email Campaigns
Not an ordinary one. That sounds pushy. And directly talks “give us business”.
Your emails should be nurturing.
Before getting business from your client you have to build a relationship with them.
Understand what they want. What they are looking for. And then send them an email detailing their past searches.
Like for example, if they have searched a home in Santa Monica, Southern California, send them your “10 Things Every New Homebuyer in Santa Monica Should Know” ebook or “5 Best Residential Areas in Santa Monica” guide.
This informational content will help your clients take the next decision, probably through your site/real estate app, and step ahead in faith in their home buying journey.
2. Responsive and Mobile Friendly Site
Around 80% of users, today are browsing properties on their smartphones. It becomes obvious having a mobile-friendly website is compulsory.
Even better, if you consider developing a Real estate app or a progressive web app development. You can easily target new prospects.
3. PPC Advertising
Leverage PPC ads for attracting leads that are more likely to convert. These ads can be displayed on search engines, social media networks, and websites.
The best thing about PPC ad campaigns are you don't pay until you start seeing results. And you don’t need a massive budget to start reaping its benefits.
4. Host Virtual Tours
As discussed earlier in the post, virtual tours are a great way to show your property in full dimensions and details.
It helps your users gain an exact view of the property and save their time that otherwise would have gone visiting it physically.
5. Lead Magnet
Lead magnets are the free irresistible nugget of content that are ridiculously effective in capturing leads.
With just GREAT content, a real estate lead magnet has the right mix of:
- A landing page with a related, compelling, and enticing offer
- A clear message that directly states the purpose
- Must contain the same info as promised
- A pop-up that creates a sense of urgency
- It should not be way lengthy making it difficult to consume
6. Search Engine Optimization
Search Engine Optimization (SEO) is one of the crucial branches of Digital Marketing. It acts as a root of organic marketing.
It increases your ranking on search engines. It drives leads to your website.
But only when done right.
SEO demands patience for long term ranking results. Time and tactics are name of the game.
7. App Store Optimization
Did you know? 63% of apps are discovered through app store searches. If you have a real estate mobile app and your app is not searchable on the app store, you’re missing out. Spend time on improving your ASO. And this way you can increase your app rankings on the play store and app store.
8. Create a Referral System
The referral system works like a propagative chain that increases from one to many. Like you can provide incentives to your clients to refer your app to other prospective property buyers.
9. Social Media Marketing
Create a social media marketing strategy by creating useful content about your new or existing listings, team bios, informational blog posts, success stories and other market-trending campaigns.
10. Create a Newsletters
Newsletter- A brilliant strategy for building client relationships. You can send your email subscribers the stuff they’re looking for.
In our experience, in real estate app development and digital marketing, the drive right from the app designing and app development to app promotion have to be fueled with a tailored real estate app development approach.
To provide the best user experience the app development company has to integrate cutting-edge functionalities, plugins and advanced technologies that contribute to attracting leads and increasing sales.
At Codiant, we follow a stringent development approach by constantly re-evaluating the market strategy.
We closely study your business model to uncover and enhance your value proposition by our feature-rich solution.
Real estate developers and realtors looking to build a real estate app development solution that can help you churn 10 times the growth revenue. Codiant is the company you are looking for.
Act Today and Best Serve Your End Users by Our Well-Planned Real Estate App Development Solution and Lead Generation Strategy.