A Comprehensive Guide To Real Estate App Development Approach

Why Should You Invest In Real Estate App Development

There are many apps in the market for real estate and there are several reasons why you should get your real estate app developed for your business. Some of the statics that can prove to be motivational for you are as follows:

• The size of the real estate investment market has increased globally from $8.9 trillion to $9.6 trillion in one year by 7.8%. 
• According to Grand View Research, the real estate market is expected to generate global revenue of USD 4263.7 billion by 2025. 
• There were approximately 938714 real estate sales and brokerage businesses present in the market in 2020.
• Real estate plays a major role in the economy of the UK as it employed 514,000 people in 2020
• There are approximately 130.4K real estate businesses in the UK.

Driving Forces Behind A Real Estate App

The driving forces behind a real estate app development for your business are discussed below:

More Traction Of The Sub Urban Cities

The real estate market in larger cities has been booming, but small cities and suburbs have been seeing strong demand for new homes over the past decade. For example, the real estate market in many cities has risen and is expected to do well in the coming years.

Commercial & Residential Sector Growth

This year’s growth has benefited both the commercial and residential sectors. Office spaces have been swiftly selling out due to increased demand in the business sector, such as IT and other white-collar industries. People are also travelling to larger cities in search of better career prospects.

These individuals are constantly on the hunt for better housing options at a fair price, and real estate mobile applications are always there to assist them.

Co-Living Sleeping And Co-Working Spaces

People in most countries are gradually adopting the notion of co-living, which is more cost-effective than renting a full home or apartment to themselves. This has helped people save money, and the properties have benefited greatly as well. 

Technological Advancements

The advancements in technology are with the addition of IoT, artificial intelligence or machine learning in your real estate app. This will help the builders make sure that they are delivering their best by making a smart house.

The houses that are built with smart technologies are a huge medium for attracting more customers. The dynamic improvements in the quality of construction have also helped the clients in getting timely possession of the house they booked in advance.

Redefining The Luxury Housing Concept

There is a lot of interest growing for luxury housing in the marketplace. This is due to the smart technologies used in the real estate app development as it introduces a raised living experience in the society.

Types Of Real Estate Apps

There are several types of real estate apps in the market like house hunting, apps for agents, property management, etc. Before starting with the development and planning future steps, you must be clear about which type of app suits your business. Some apps are discussed below – 

House Hunting Or Renting App

House hunting or a rental app is a type of real estate app for listings that allows users to search for real estate items to rent or purchase depending on location, address, state or city, neighbourhood, budget, or other factors.

Real Estate Agents

Agents may use real estate app development for a variety of objectives, to communicate with the clients and other agents, as well as property and document management. A real estate agent app can help the agents save time and money by reducing the amount of paperwork they have to do.

Property Management

A property management app will help the agents in managing the properties as they have a lot of it to manage. Nowadays, having the ability to monitor the status of an object and gain insight into property listings at any time is essential.

Investment Software For Real Estate App

Investment software for real estate is made for those who want to buy real estate as an investment. They assist investors or agents in keeping track of properties for sale and selecting things based on certain criteria. As a result, the best solution for this type of problem should be very customizable.

Real Estate App For Marketing

Homeowners and agents can approach the process of selling a house uncommonly or uniquely with marketing ideas. It popularises such apps and generates a market for them. Apptunix, an experienced real estate app development company, is glad to assist you if you want to design a unique solution but need some assistance.

Excellent Features For Your Real Estate App

The features and functionalities for your real estate app to stand out in the market and to gain customer attraction. Some of the features are discussed below:

• Login & Registration: The process of registration needs to be simple and basic without many questions. Users should be able to sign in using their email address, phone number, and social media accounts.
• Personal Accounts: Clients and agents both need to have profiles. Real estate agents must log in to see and upload property descriptions and photos, as well as give contact information and manage schedules. An agent should have access to a database of broker profiles to assess their reliability, properties, and ratings.
  Clients should be able to put in their personal information to receive unique customised offers and browse listings to find the property items they are looking for.
• Database & Listings: Your real estate app database is a key feature. The more property cards you keep in it, the better your odds of succeeding are.
• Property Profiles: Make sure you have enough information and photos for each thing to give you a general concept of what it is.
• Agents Listing: For successful interaction, agents’ listings in your real estate app should include a brief description with a photo, the number of properties, the location, the rating, and sources of reliability.
• Categories & Filters: The search for and filter of the suitable property appears to be the most frustrating aspect of the process. Therefore, you can alleviate this agony for your clients by providing advanced search and sort filters based on specific criteria.
• Maps & Geolocation: Maps are extremely useful for individuals looking to rent or buy an apartment. They can see surrounding things and infrastructure on the maps. It’s also a good idea to include statistics and particular data that matters, such as crime rates, natural catastrophe risks, average wages, and so on.
• Favourites: Allow your clients to create a shortlist of the things they prefer and make this list available in their profile or menu to assist them to make more informed selections.
• Price Calculator: A thorough pricing calculator will allow your users to conduct the required calculations and understand their alternatives and financial capabilities right away. This will allow consumers to discover not only the ultimate housing price, but also the beginning payment amount, loan interest rates from various banks, and payback duration possibilities in your real estate app.
• Calendar & Scheduling: Integration with a calendar is essential for easy appointment booking. This feature should be available to both agents and clients, and it should be linked to a specific property object.
• Push Notifications: Your real estate app should have push notifications as a standard feature. They notify users of the app and may be programmed to remind a client of certain dates and events like price change, property update, etc.
• Analytics: Any programme that analyses business operations, growth, pitfalls, and the causes behind them need an analytic capability. A thorough grasp of what’s going on will enable you to optimise your work, service, strategy, and procedures at the appropriate moment, as well as increase the performance of your app.

Innovative Technology Stack For Your Real Estate App

There are many new and advanced technologies emerging. These technologies can be used in your real estate app development. Your mobile app can include:

• AI For Task Automation: Artificial intelligence can be used for the automation of process information, data collection, generate analysis and reports, and other work.
• AR/VR For Property Showcase: Integrating virtual reality in your real estate app will allow the users to save their travel cost and see the properties from their phones or tablets. With augmented reality in your app, users can even customize their home. 
• IoT For Real Estate: There are various benefits of integrating IoT in your app like you can improve productivity, streamline operations, increase customer engagements and others. 
• Big Data: Detailed analytics may be obtained by studying and extracting information from enormous volumes of data. It may be used to anticipate a user’s actions and decisions, resulting in more relevant search recommendations and notifications.

Monetization Strategies For Your Real Estate App

Even though app monetization isn’t a top concern in the real estate industry, you may always think of methods to kill two birds with one stone by considering the following monetization strategies for your real estate app:

• Basic & Pro Version: When you give certain basic programme functions for free and enhanced functionality or a subscription for money, this is known as a freemium model. This method can be implemented in your app as well.
• Advertising: It is the second method of app monetization. You may either give third-party advertising or charge real estate agents to market their services for a fee. They will be featured in your service more frequently and to a larger number of clients.
• White Label Model: You may licence your code and sell it to other people if your digital product has truly exceptional qualities that other developers would be interested in.

How Much Does It Cost To Develop A Real Estate App

Do you want to know how much it costs to create a real estate app? The cost of developing a real estate app, like any other app, is determined by the features included in the app, its complexity, and the time spent developing the app.

These are just the approximations as the cost differs from one development company to another. The cost of the development of a real estate mobile app can range from $20000 to $30000. If you are willing to integrate advanced technologies, features, etc. then the cost may go around $50000 to $20000.

Final Thoughts

Real estate isn’t new to the internet; it’s been there for a long time. It has eliminated the need for a middleman to take you to each home by making it easy for individuals to seek houses and apartments in different cities.

With the growth of technologies and smartphones, the real estate industry should also move to a digital business to cope up with the advancements. Reach out to the best real estate app development company to get a headstart on your mobile app.