When people are looking for appropriate accommodations they need good advice to decide what is better: buy or rent an apartment? So, where do you think they look first? Mobile devices. The statistics indicate that a vast amount of audiences are interested in real estate apps due to their usability and availability. For example, on Zillow 188 homes are seen per second. Isn’t that impressive to give your idea a start?
From this post, you’ll learn why business owners need to go real estate app development and how to create an app that resonates with your audiences. Besides that, I will tell you how to monetize your project wisely.
Benefits of Real Estate Application
The real estate software market is expected to reach $13.46 billion in 2026. No wonder that more and more business owners start to invest in real estate app development. The driving factor is the advantages it brings to a business. I’ve pointed out the most significant ones.
- Direct interaction with clients. Mobile real estate apps allow companies to communicate with customers directly, thereby enhancing the clients’ loyalty and brand awareness. Being available round the clock to clients will help you to figure out weak spots and provide better real estate services in future.
- Increased market reach. Mobile devices drive the modern world. And mobile apps are the perfect tool allowing companies to scale their businesses and attract new leads. Research indicates that 4 out of 10 rental inquiries are made on smartphones. So it’s vital to meet the market needs and provide users solutions on the go.
- Enhanced property sales and leads retention. Mobile applications have multiple tools that can boost sales and highly facilitate the process of holding leads. For example, calls, notifications, in-app chats, and other useful features will help you effectively get involved with customers and make them aware of all changes in real estate processes.
- Automated routine tasks. Mobile apps can automate real estate service-related tasks both for agents and consumers. For instance, clients can get necessary documents at once, and estate brokers don’t need to update information about the property for long.
Now, let’s consider different ways to make a profit from real estate applications.
Popular real estate apps like Zillow and Trulia generate money on advertising. Their ad system is carried out in a way that enables estate agents to promote their services to bargain-ready clients. So users won’t obtain irritating advertisements.
White label model
It’s quite an interesting way of monetization. You license your app’s code and sell access to other developers. First, however, you need to create a really nice platform with engaging capabilities to catch third parties’ attention.
Level of app utilization
The idea is simple. You show short ads in your app and make it possible for users to turn them off by subscribing to the premium model or making in-app purchases.
Real Estate App Development Steps
Let’s consider what steps you should follow to create a user-oriented real estate app.
Step #1. Competitor Analysis
Before starting real estate app development, it’s essential to analyze the market you want to reach. The obtained information will help define what features need to be implemented and how to design your app to capture users’ attention.
Look at your main competitors, their software products, and clients’ reviews to figure out the strength and weaknesses of their solutions. Focus on the weak side of competitors’ products to bridge the gap between supply and demand, and thus, attract more leads.
Step #2. Jot Down a List of Features
In the beginning, it’s much better to design the MVP (Minimal Viable Product) version of the product. It’s software with core features needed to perform the app’s functionality. MVP app development will help you test the waters, reduce time to market, and save money. After you get the first feedback you can reinvest into building a full-fledged product with advanced features.
Now, let’s answer the question that might be hovering in your brain: What are the MVP features for real estate applications?
Sing up and log in
These features enable users to make an account and log into the system in different ways:
- E-mail and password
- Log in via social media
This feature makes it possible for users to look through real estate listings with specific information and a catalog of photos needed to make the proper decisions.
Filters and сategories
This feature aims to accelerate and facilitate the search for real estate. That’s why it’s vital to provide users with multiple filters (price, square, number of bathrooms, etc.).
This feature allows users to see all available real estate offers in a particular area and select the best one in terms of location.
Cost calculators are a valuable option for your real estate mobile app since it enables users to estimate the final price fast. However, the calculator must be pretty detailed and consider the vast range of real estate price drivers (initial payments, taxes, the amount of interest on the loan, etc.)
Calls and messaging
Built-in app messenger and the ability to perform calls will make it more convenient for customers to purchase real estate. Users will be able to reach the agent or property owner to book a meeting and discuss the different property-related questions. Moreover, provide users with the Book a consultation option to schedule an appointment with a realtor.
You’ll be able to notify customers about new real estate offers, modified details of treaty/transaction, messages from realtors, and other stuff.
Step #3. Get a Team
After you’ve drawn up a list of requirements, it’s time to look for an experienced real estate software development company. The most popular platforms where you can find a reliable vendor are:
- Good Firms
- IT firms
These services gather information on IT, marketing, and business service companies and provide users with unbiased ratings and reviews.
In the initial stage, the vendor will arrange several meetings to scrutinize your ideas and requirements and prepare a development plan. After that, the business analysts will come up with final real estate app development costs.
Step #4. Prepare for Spending
Real estate app development requires significant investments. Moreover, many factors affecting the final price, such as:
- Companies’ location (software developers’ rates vary depending on region)
- The number of features and their complexity (the more features you want to add, the longer it takes for programmers to build them)
- Team size
- Agreement type and more
The average real estate app development price starts from $50,000 to $200,000 and up. The exact price will be provided on the Discovery phase.
Real estate mobile app development requires clear goals, detailed planning, and well-considered branding, so you need to roll thoughtful preparation steps.
Even though it requires some time and money, real estate is a fast-growing niche, and all the expenses will pay off from the beginning. All you should do is think everything through upfront and hire a reliable real estate development company.