Look back and you’ll see a past episode where the process of buying/selling, or renting a property used to invite restlessness with burst of time. Gratefully, the times of all things digital with wide penetration of internet enabled smartphones has called an uptick in the demand for mobile apps which has incentivized the demand of real estate app development.
These real estate app solutions have proven their part as the best and quickest solution helping people find the most desirable property. With benefits like eliminating the needs of brokers and middlemen, these apps have become a go-to solution for instant information access for all things property.
In the wake of this ease provided by real estate apps for the home-buying experience, creating a guide for real estate mobile app development can bring advancement in an entrepreneur’s journey.
Let’s dig all the essential layers that goes in the development process.
Market Stats- Why Does a Real Estate Business Need a Mobile App?
Every now and then people used to leave their comfort places in the search of work, which is ultimately increasing the demand for such make-shift homes. These evolving needs surge the demand for real estate mobile apps in the marketplace. Let’s see some startling figures speculated to push the revenues with a boom in demand.
- The global real estate mobile app development market is expected to reach a figure of $20.6 billion during the period from 2021 to 2026, with a CAGR of 5.7%.
- Cloud-based real estate mobile app development demand is expected to grow at 8.7%, from 2021 to 2026.
- The demand for real estate mobile apps in the residential sector is expected to rise at a CAGR of 7.5%, from 2021 to 2026.
Best Strategies for Real Estate Mobile App Development
1. Outstanding In-app Search & Filter
The real estate app development should provide a well-planned search and filter lists to help users to find the most relevant results. It will deliver a personalized in-app user experience with effective results.
2. Social Media Integration
Social Media Interaction provides a free hand to the user in sharing the best property option with their family, friend, or acquaintances. It also works as an indirect marketing for the app and property owner both.
3. Video & Image Sharing
The real estate mobile app should be multimedia supported to help users understand the property details and pick the right one that fits into their budget.
4. Strong Server Solution
The real estate apps used to be heavily loaded with a lot of details, images, video, and not to forget the users. So, to ensure instant data accessibility and quick loading time, it requires powerful server to manage all this at a time.
Benefits of Real Estate App Development
1. Increase Customer Engagement
An effective and SEO-optimized mobile application can generate a good number of leads regardless of geographical boundaries. It can increase customer engagement and generate good profits.
2. Higher Conversion Rate
Better Revenues as consumer’s behavior is changing. Users are no longer merely interested in searching for houses online, they are also buying houses which results into the higher conversion rates.
3. Multiple Options at a Time
The smart mobile apps provide multiple real estate options at a time. On the app, the user can find multiple brokers, property options, flexible budgets, and many more which ease the complete process.
4. Introduce Advanced Technologies
With the advancement and introduction of new technologies, real-estate app development companies can introduce new features and functionalities to ease user activities and finalize maximum deals.
5. Boost ROI
Smart mobile apps can exercise multiple means of generating revenues, such as brokerage charges, property listing commission, advertisement, broker listing commission, direct customer commission, and many more.
6. Accurate Customer Target
Based on the customer’s preference, the real estate app can instantly list down all the available options. Keeping the customer’s preference in mind the smart apps can even suggest the newly added property that fulfils the customer’s criteria.
7. Build a Strong Brand Market
The real estate app not only supports the businesses but also the app platform itself to build a strong market presence. It can provide a hands-on benefit and competitive edge in the market to come up as a strong brand name.
8. 24x7 In-app Communication
The in-app communication channel allows easy and quick query resolution, along with proper guidance which enhances user experience. The user can reach out to brokers or look for a suitable option at any time of the day and seek 24x7 assistance through the app.
9. Direct Marketing
A direct marketing channel allows businesses to list their properties on sale or rent. It minimizes a lot of human effort and saves time.
Must-have Features for Real Estate Mobile App
A Real Estate Mobile Application comprises three stakeholders, i.e., Buyer/Renter, Agent/Seller, and Admin Panel.
Features of Buyer/Renter
- User Onboarding: The buyer or renter can register or log in on the real estate app with an email id and password.
- Dashboard: User can manage profile details, agents profile, preferred location listing, reach out to agents directly, raise an issue, etc.
- Search & Filter: Users can search or filter properties under various search parameters like location, type of property, etc.
- Property List: View Property in form of List or Map View in the property listings.
- 3D View: 3D property view shows the entire property to the buyer on their smart devices at their comfort zone.
- Set Favourites: Users can add their desired properties under the ‘My Favorite’ tab.
- In-app Connection: Buyer or Seller can connect through the app on calls or messages.
- Set Calendar: Buyer can set property visits, broker calls, etc. reminders while syncing with the calendar.
- Integrated Map: Maps are integrated to track the property route and get a rough idea of the location.
- Push Notification: Inform users about deals, offers, property alerts, auctions, etc.
- Currency Converter: This in-app feature help with the rates in different currencies, so that international clients all over the world can access the app.
Features of Agent/Seller
- User Onboarding: The agent/seller can register or login on the real estate app with an email id and password.
- Dashboard: The agent can manage his profile, enlisted properties, customers contacted, and other details.
- Add Properties: Add new property, edit existing details, and delete the property or mark it as sold.
- Subscription: The agent can keep track of the active subscription package, validity, and the previously purchased package details as well.
- In-app Connection: The agent can connect with the buyer through in-app messages or calls to set appointments and share details.
- Push Notification: The agent can receive reminder or important updates notifications etc.
Features of Admin Panel
- Manage Customer List: Admin can view customer details, and their activities, or can activate/deactivate customers.
- Manage Broker List: Admin can add/edit/delete broker from the list, or can set active/inactive profile.
- Manage Property List: Admin can manage properties list, details, and can keep track of all the properties progress.
- Generate Customized Report: Admin can generate customized reports of customer, broker, property, and revenue to monitor progress.
- Revenue Management: Admin can monitor all transaction details and conclude revenue generation.
- Real-Time Analytics: This feature gives the admin enhanced access to the defined data patterns that help the admin derive the meaning to take decisive and strategic actions.
- Customer Support: Admin can resolve or respond accordingly to the customer’s and broker’s queries.
- Geo-location Tagging: It allows the user to check the property nearby his/her current location.
- Mortgage Calculator: Through this calculator the user can easily calculate the monthly EMI s/he will have to pay if the user has purchased the house on loan.
- Interest Rate Calculator: The Interest Rate Calculator determines real interest rates on loans with fixed terms and monthly payments. It also helps users to figure out certain taxes and insurance associated with the property.
- Map View: Through this feature, the user can search properties in his area and location.
- Blog: The app owner can add informative blogs to educate its users about real estate. This makes the app engaging and increases the in-app time of the users.
- Testimonials: Feature to showcase the valuable testimonials of the client increases the reliability of the app and lets users check the genuine reviews.
- Social Sharing: Enabling the social sharing option allows the app owner to share the properties available on rent/sale on social media channels.
- Live Showing: Buyers can watch the live inspection of the property by the agent.
Required Technologies & Team Structure of a Real Estate Mobile App Development
A state-of-the-art and cutting-edge development of a real estate app requires a strong backend. Some of the supportive technologies could be;
- Database: MongoDB, HBase, Oracle, Cassandra, Microsoft SQL Server
- Cloud Storage: AWS, Azure, Google Cloud
- Query Tool: Apache Hive, Apache Pig, Flume, Sqoop
- Platform: OpenStack, Windows, Google App Engine, Windows Azure, Force, Linux
- Real-Time Analytics: Hadoop, Spark, Big Data, Apache Flink, Cisco, IBM
- Payment: Braintree, PayPal, Stripe, Wallets, Credit Cards, Debit Cards, Net Banking
- Push Notification: PushEngage, Urban Airship, Push Woop, Parse Push, Push.io, Accengage
Real Estate App Development is quite a complicated and time taking process, so it requires a dedicated team to develop an efficient and effective end product. Well, it is a combined team effort, so every individual should have to be at their best. Let’s get into the details of how a real estate app development team looks like.
- Project/Requirement Manager
- Business Analyst
- UI/UX Designers
- Front-End Developers (1-2)
- Back-End Developers (1-2)
- iOS App Developers
- Android App Developers
- QA Engineers
How does Real Estate Apps Make Money?
- Brokers Fees
The real estate agents can pay the nominal charges for using the app. It can be on a monthly, quarterly, half-yearly, or annual basis. The platform can even advertise or promote brokers who avail the advertisement option. It will help brokers gain more visibility among customers, crack more deals, and earn more.
- Third-party Advertisement
The real estate app owner can utilize the app’s white space by allocating the space to a different business advertisement that can support their business too. It includes interior designer, financer or lender, retailer, contractor, etc.
- Premium Features
The app owner can categorize the features based on the quality and customer requirements. Then, can introduce the premium version of the real estate mobile app to monetize the platform by providing a limited time period access.
The commission charges can be applied on a different course of action, as per the app owner’s requirement. However, one of the most suitable and appropriate commission charging strategies could be implemented whenever the deal is finalized between the customer and the broker or property owner.
- White Label Model
The real estate app owner can get the code license to sell it to other people. You can also hire a developer to customize the app as per the new buyer’s requirement. Before getting into this, ensure your product had exceptional qualities that might interest entrepreneurs.
Related reading: Top 5 Real Estate Apps Features to Get Inspired From
The Total Time and Cost Required for Real Estate App Development
The time and cost of a real estate mobile app development could not be defined accurately, as there are many influential factors that affect the overall development time and cost. These factors include market analysis, project size, complexity, functionalities, UI/UX design, team size, team location, tech-stack, maintenance & support, and others.
The developer’s hourly charges vary as the zone changes. Such as, in the US the hourly charges range from $100 to $250; in Singapore, it is about $60 to $160, whereas it is comparatively quite low in India i.e., somewhere about $30 to $60 per hour.
Considering all the above influential factors, we can infer the average development charges range somewhere between $30,000 to $70,000, or more. Likewise, the development time also varies and takes around 2 to 6 months, which might be more in some cases.
Why Choose Codiant As Your Real Estate App Development Company?
The Real Estate Industry is booming, so is the demand for mobile applications. There are ‘n’ number of Real Estate App Development Companies, but considering the overall development nuances it is not as easy as its counterparts. Real Estate apps are quite complicated and feature-specific apps to develop, which require only expert hands to deliver perfection.
Codiant is one of the best real estate app development companies on which you can rely for your real estate app requirements. Our expert web and app developers have already delivered an array of successful apps in the market, enabled with advanced technologies. If you are also in search of such an expert development team, we are your right partner of choice. Reach out to our expert team to explain your project requirements and seek further assistance to take the business in the online competitive market.