The digital presence is the need for all businesses today. When it comes to the real estate business, the use of mobile devices is increasing exponentially. Well, thanks to mobile application solutions that made the process of renting, buying, and selling properties easier.
The applications have reduced the manual labor and hiring of agents for a particular property. It reduces the brokerage charges and gives a better idea of the property with images and budget, making the process seamless. As per research by the National Association of Realtors, more than 80% of millennials and around 78% of the X generation prefer finding a property on a mobile device.
As the digital presence is helping businesses to increase their loyalty and grow sales, the real estate applications help boost your business efficiently. If you are still in doubt about investing in a real estate application, we offer all the details. This blog will guide you throughout with the benefits, monetization strategies, cost, features, and more to help you decide.
Market Size and Stats for Real Estate Applications
- The global real estate investment market increased by 7.8% from $8.9 trillion in 2018 to $9.6 trillion in 2019.
- It was a much higher growth as compared to 2018 when the market grew by 4.1%
- As per Grand View Research global real estate market is expected to generate a revenue of USD 4,263.7 billion by 2024
- UK has around 130.4 K Real Estate Businesses.
Advantages of Real Estate Application
1. Quick Search for the Property
To search for customers effortlessly, the app owner allows the users to search for different categories. Crucial details such as the prize of property, location, size, and others should be mention properly.
2. Easy Buying and Selling Property
There are different tools available, along with the commonly asked questions, app assistance, Chatbot support. It makes it easier for first-time users to instantly search for the property and create trust among the customers.
3. Seamless Sales Process
For mortgage properties, real-estate mobile applications can help and make a difference. It can be a tedious process for the customers, but with the app, there are mortgage calculators you can get instant information about the entire prospect and, there is no delay in the sales.
4. Automation of Routine Tasks
The Real Estate Mobile Applications automates the entire operations and consumes very little time as well. All the property information can be found on the app itself, and there are inbuilt chatbots that can resolve customer queries on their own. The benefits for the buyers include instantly receiving documents, offers, and notifications about the new properties.
Types of Real Estate Apps
Here are the most popular and trending types of real estate applications that are in the market today and help you build an app as per your requirement:
1. Application for House Hunting
This is a kind of listing application that allows the users to search for the properties based on the location, their city, locality, budget, and other features.
2. Property Management Applications
These real estate applications help the companies to offer a solution that helps them to manage their properties. It allows them to check the status of the property and get insights into the properties.
3. Property Buy Sell Rent Mobile App
The app is like an online marketplace that helps the buyers and sellers to register themselves. The people who are selling their properties can list it on the application, along with features & HD pictures. The buyers here can look for the properties that they have listed. It allows the buyers to check for all the information and location mentioned in the application.
4. Real Estate Marketing Company Apps
These applications are for brands that already have a reputed business and fame. They can put their properties on sale. The buyers can look for the different aspects and buy the property if they want.
Monetization Opportunities with Real Estate Apps
Want to know how does the real estate app helps to generate revenue? Readout and know the monetization opportunities offered by real estate applications:
If a third party is interested in the advertisement space, then they can be your potential customers. It allows you to set options for paying, views, and more.
2. Featured Listing
The featured listing allows sellers to have their posting on the top and get maximum visibility.
It is the most important way that helps you earn revenue for the real estate app owner. The app owner can charge an amount from the user.
4. Premium Subscription
The app owner can offer subscriptions on a monthly or yearly basis to the users. The user can check out the subscription packages and pay accordingly as per their needs. The owners can earn a good amount of revenue from the same.
Features to make your App Popular
Several features must be integrated for the perfect app development solutions. Let us discuss them all:
1. Signup and login
Registration and logging in should be easy as possible for the users and agents so that there is more customer retention. The app should also implement social media login feature so that they can quickly log in.
2. Personal accounts
The customers and the agents should build their profiles. The agent can add properties, HD images, descriptions, and other necessary information. The customers can mention their specifications in their profiles.
3. Database and listings
It is one of the crucial features of the application that allows storing more property cards in the database. It offers more chances of success.
4. Calendar and scheduling
It is important for convenient appointments and scheduling. The option is available for both the buyers and sellers.
5. Price Calculator
An accurate price calculator of the property allows the users to have an immediate opportunity to know the estimation and understand the financial capacities. It not only allows knowing the final price of the house, but also initial payment, loan payment, & the re-payment period.
It helps the customers to shortlist the options they like and make this list visible in their profile or menu.
7. Agents listing
For healthy interaction, agent listing is a must. It includes a brief description of the property with a high-resolution image, location, rates, and sources of credibility.
8. Categories and filters
Advanced search and sort filters allow users to search locations according to certain criteria for them.
9. Maps and geolocation
Maps offer valuable details to those who want to rent or buy an apartment.
Cost of developing a Real Estate App
When it comes to the cost of developing a real estate application, there is no universal answer to that question. It is because the cost varies with the factors. Many factors determine the cost of an app. Here are the factors that affect the cost of the app:
- The chosen set of features
- Technologies Implemented
- Project Complexity
- Hourly Rates of Developer
A real-estate application with all ample features will cost around $10000-$20000, however with the integration of all the latest & advanced features the price may go up to $30000.
Real estate applications guarantee a seamless process when it comes to buying and selling properties. It has the potential to make both the buyers and owners happy. Making it easier for people to search for their desired properties, the need for a broker has now been removed.
Want to make your app creation a hassle-free process? OZVID is ready to lend helping hands and make people happier and their lives easier. With our comprehensive and technical knowledge in app development projects, we are perfect for developing your real estate app. Get in touch with us for more details.