In contrast to rival offerings, creating a website is just a minor initial phase. In the real estate industry, maintaining a competitive edge necessitates the development of a dedicated mobile application. To garner attention in the saturated app market and secure downloads, a real estate app must set itself apart. So, what defines an exceptional real estate app? What sets your app apart from the rest? Before we delve into these queries, let’s first explore the reasons why your real estate company should consider adopting a mobile app.
Why Real Estate App Development Is A Trend?
The real estate industry has undergone significant digital transformation. Gone are the days when homebuyers had to hop from one real estate agent to another; now, people can effortlessly browse homes on their smartphones. In 2020, the United States saw a substantial influx of investments in real estate technology, exceeding $7 billion. The real estate landscape is evolving at a remarkable pace. As of October 2021, new property acquisitions have been temporarily halted.
In a rapidly expanding market, there is no room for errors. Failing to meet every customer’s demands can result in significant losses. Furthermore, having a dedicated real estate app for smartphones can give you a competitive edge against your rivals.
1. 24/7 In-App Communication Channel
Having an in-app communication channel available 24/7, seven days a week, enables instant chats and minimizes waiting times.
2. Automation of Repetitive Tasks
Agents can delegate most of their time-consuming tasks with the help of automation. Property details can be automatically filled in, and chatbots can swiftly respond to potential customers, generating leads. Homebuyers can also benefit from automation by quickly accessing paperwork, making offers, and receiving notifications about new properties that match their criteria.
3. Accelerated Sales Process
Real estate agents can expedite the sales process by utilizing a specialized real estate software platform. For rental lookup app development, virtual tours can streamline the process, reducing the need for lengthy property showings. Digital signatures can be used for paperwork, and properties can be located more efficiently.
Real Estate App Development Challenges
1) Costly Development
Incorporating advanced features into a mobile app development project can lead to increased expenses. To effectively cater to your target audience, you may need to include features like 3D tours, property and loan calculators, and keyless access systems. In such cases, consider employing the soft launch model, but it’s not the only strategy to reduce real estate app development costs. You can also consult our company’s development expert to optimize expenses while upholding quality.
2) Intense Competition
The competitive nature of the real estate market is apparent. Introducing a mobile app alone won’t set you apart. To stand out, focus on meeting consumer demands. By working with a team that follows the learn-build-iterate approach, you can transform your real estate app into a global brand and compete effectively.
3) Stringent Security Standards
Creating a property listing app involves handling sensitive data such as user profiles and real estate brokers’ ongoing transactions. It is imperative that your app development team prioritizes security to safeguard this information.
Essential Features Your Real Estate App Must Have
1. Administrative Dashboard
The app’s administrative panel allows versatile profiles. Buyers explore listings, save favorites, and access property info, while agents manage their listings, schedules, and promotions efficiently.
2. Street View and Navigation
The app seamlessly integrates the Google Maps API, granting users an immersive understanding of the neighborhood and property surroundings. This feature aids potential buyers in making informed decisions without physical visits.
3. Categories and Filters
The app introduces dynamic filters, helping users narrow down property searches based on their specific criteria. This streamlined search process simplifies the home-finding experience, ensuring users discover their ideal properties with ease.
4. Mortgage and Property Calculators
Empowering users, the app includes customizable pricing calculators. These tools assist buyers in estimating costs and understanding their financial commitments, adding transparency and clarity to the home-buying process.
5. Virtual Tour
Property listings with immersive virtual tours capture prospective buyers’ attention. Offering a 360-degree view of the property’s interior and exterior, virtual tours provide an unparalleled understanding of the property, surpassing textual descriptions. This feature enhances engagement and encourages users to explore properties in greater detail.
App analytics play a pivotal role in understanding user behavior and interaction patterns. Whether building a real estate marketplace or a business app, data collection and analysis are essential for refining and optimizing the user experience. By monitoring user engagement, app performance, and user preferences, you can make informed decisions to enhance the application continuously.
The integrated chatbot improves user experience and accessibility. Users can obtain instant answers to their queries through automated responses in real-time, eliminating the need for manual searches within the app. The chatbot efficiently addresses frequently asked questions, offering seamless support and extending users’ knowledge about various topics, enhancing their overall experience within the app.
Tech Stack Required For Real Estate App Development
To build your real estate application, a robust backend is essential.
Below is a compilation of valuable tools that can be employed in the development of real estate applications:
1. CoreData or Realm frameworks, which manage stored attributes.
2. The Google Places API, providing users with information about their current neighborhood and the surrounding area.
3. Integration of push notifications can be achieved using Firebase SDK and Apple Push Notifications Service.
4. For normalizing MLS data streams, consider utilizing APIs like SimpleRets, iHomeFinder, and Spark.
5. The Facebook Software Development Kit (SDK) offers a Facebook sign-in option.
6. The Zillow Application Programming Interface (API) grants access to neighborhood information and property listings maintained by Zillow.
7. For creating customized maps, you can opt for Mapbox or the Google Maps API.
8. The Onboard Informatics Community’s Spatial Neighborhood APIs provide demographic data and other insights into specific districts for users.
9. Java or Kotlin are the preferred development languages for Android.
10. Swift or Objective C serve as the programming languages for iOS development.
11. Amazon S3 offers online storage solutions for property listings.
Typically, companies specializing in real estate app development will take full responsibility for the technical aspects of the project.
How Much Does It Cost to Develop A Real Estate App?
Now that you comprehend the rationale for your company’s involvement in app development, you might be inquisitive about the associated costs. What is the expense of creating a mobile app for the real estate sector?
The cost of app development is determined by various factors. The following variables can exert a significant influence on the overall expenditure of developing a real estate app:
The geographic location of the development firm plays a pivotal role in determining hourly rates. For instance, hourly rates in North American companies often range from $150 to $250, while in Eastern Europe, you may find numerous options within a more budget-friendly range, typically around $50 to $100 per hour. Alternatively, you can consider outsourcing to a company like GMTA Software Solutions, which can develop your app in the range of $15,000 to $30,000. In contrast, an American company may charge at least $25,000 to $50,000. Despite the substantial cost differential, both development approaches are on par with each other in terms of quality and functionality.
In this comprehensive guide to real estate app development in 2023, we’ve explored the key features and considerations necessary for success in the dynamic real estate industry. By understanding the evolving needs of both buyers and agents, implementing advanced technologies, and prioritizing user experience, real estate app developers can thrive in this ever-changing landscape. As technology continues to shape the industry, this guide serves as a valuable roadmap for those seeking to excel in the realm of real estate app development in 2023 and beyond.