The real estate industry involves the buying, selling, and renting of properties, residential, commercial, and industrial buildings. The total value of the global real estate market reached a whopping 326.5 trillion in 2020. The real estate industry is a significant contributor to the economy, as it involves building and maintenance, land development, and the creation of jobs in related fields such as finance, law, and construction. Overall, the real estate industry plays a vital role in the functioning of society by providing people with the spaces they live, work, and play.
Not surprisingly, this industry has not been spared the influence of digital technologies, and now every real estate company is rushing to have its own real estate application. Real estate mobile apps are a convenient way to make life easier for everyone — users can find properties and connect with agents or brokers and can be a valuable marketing tool for agents and brokers looking to promote their listings and reach a wider audience.
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Traditional Real Estate Business
The real estate market on a global scale is becoming more and more visible and global. The growth of investments in the sector allows it to actively develop and attract even more investments. According to forecasts, the realty market is waiting for a great future, which cannot but inspire. In 2022, investment opportunities are greater than ever. New housing construction is one of the most popular areas for private financing. Thanks to this, more and more people have the opportunity to purchase a house or apartment at a reasonable price.
Traditional real estate investors and development stakeholders continue to have a strong interest in the market. However, they have adapted to modern means of obtaining information about different listings. Entrepreneurial and successful agents understand that the needs of their clients are adapting to modern technology. Despite all the changes, the fact remains that the realty market remains as profitable as ever. This means that there are great opportunities to enter the real estate mobile app development market.
Types of Real Estate Mobile Apps
Applications for renting and buying
Several types of mobile apps that cater to users looking to rent or buy properties. These apps typically allow users to search for properties based on various criteria, such as location, price, and a number of bedrooms. Users can typically browse listings, view photos, and contact agents or brokers to schedule viewings. Rental and buying apps can be useful for people looking to find a new home or apartment, as they provide access to a wide range of listings and can help users find properties that meet their specific needs and preferences. Some rental and buying apps may offer a range of features, such as the ability to save and compare listings, receive alerts when new properties become available, and connect with agents or brokers to schedule viewings or get more information about specific properties.
Agent and broker apps
Agent and broker apps are mobile applications that are designed for real estate agents and brokers and provide them with tools to manage their listings, communicate with clients, and schedule viewings. These apps may also include features such as lead management and analytics. This type of app can be a useful resource for real estate professionals, as they provide access to a range of tools and features that can help them manage their business and connect with clients. Some agent and broker apps may offer a range of features, such as creating and managing listings, communicating with clients through in-app messaging, and scheduling and tracking viewings. These apps may also include analytics and reporting tools to help agents and brokers track their performance and identify areas for improvement.
Home design and renovation apps
Home design and renovation apps are mobile applications that provide users with inspiration and ideas for home design and renovation projects and may include features such as 3D modeling, cost estimators, and the ability to connect with contractors and other professionals. These apps can be a helpful resource for property owners or renters looking to update their living spaces, as they provide a range of design ideas and options, as well as tools to help plan and budget for projects. Some home design and renovation apps offer a range of features, such as the ability to browse thousands of design ideas and create custom floor plans, the ability to virtually "try on" different paint colors and finishes, and the ability to connect with contractors and other professionals to get quotes and schedule work.
Rental management apps
These mobile applications are designed for landlords and property managers and provide tools to manage rental properties, including the ability to list and advertise properties, process applications and payments, and communicate with tenants. Rental management apps can be a useful resource for property owners, as they provide access to a range of tools and features to help them manage their properties and communicate with tenants more efficiently and effectively.
Some rental management apps may offer a range of features, such as creating and managing listings, processing applications, and payments, and communicating with tenants through in-app messaging. These apps may also include tools for tracking and managing maintenance requests, as well as analytics and reporting features to help landlords and property managers track their performance and identify areas for improvement.
Property investment apps
These mobile applications provide users with information and tools to help them invest in real estate. These apps may include features such as market analysis, property listings, and the ability to connect with agents or brokers. Property investment apps can be a helpful resource for people looking to invest in real estate, as they provide access to a range of information and resources that can help users make informed decisions.
Some property investment apps offer a range of features, such as the ability to browse investment properties listings, access market data and analysis, and connect with agents or brokers to get more information about specific properties. Other property investment apps may focus on a specific aspect of real estate investing, such as crowdfunding or peer-to-peer lending, and provide tools and resources to help users navigate these types of investment opportunities.
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Benefits of a Real Estate Mobile App
A real estate app allows users to search for properties and access listings from their mobile devices, making it easier for them to browse and discover new properties on the go. This is especially useful for users who are constantly on the move or don't have access to a computer.
2. Increased exposure
It also can help increase your listings' visibility, as it gives users a quick and easy way to access them. This can lead to more inquiries and potentially more sales. For example, if a user is out and about and sees a property they are interested in, they can easily pull up the listing on their phone and contact the agent to schedule a viewing.
3. Improved communication
A realty app can help improve communication between agents and clients by providing an easy way to exchange messages and schedule viewings. This can make the process of buying or selling a property more efficient and reduce the need for back-and-forth phone calls or emails.
4. Enhanced user experience
Convenient real estate app design can provide a seamless and intuitive user experience, making it easier for users to find what they're looking for and engage with your brand. For example, an application with a clean and user-friendly interface, advanced property search filters, and high-quality images can make it easier for users to browse listings and find properties that meet their needs.
5. Competitive advantage
Having your own real estate app can give you a competitive advantage over other agents and brokers who don't have one, as it shows that you are tech-savvy and able to meet the needs of modern consumers. In today's digital age, many consumers expect to be able to access information and services on their mobile devices. Such an application can help you meet this expectation and stand out from the competition.
Real Estate App Technology Stack
A realty app typically uses a combination of technologies to provide a range of features and functionality. Here are some examples of technologies that may be included in a real estate app's technology stack:
- Programming languages: The application will be developed using a variety of programming languages, such as Java, Swift, or Kotlin.
- Front-end frameworks: The app's user interface may be built using a front-end framework such as React Native or Flutter.
- Databases: The platform may use a database to store and retrieve data, such as listings and user information. Examples of databases that may be used include MySQL, MongoDB, or Firebase.
- APIs: The app may use APIs (Application Programming Interfaces) to retrieve data from other sources, such as real estate listing websites or mapping services.
- Cloud services: Your software may use cloud services such as AWS or Azure to host the app and its associated data and services.
Overall, the specific technologies used in a real estate app's technology stack will depend on the specific requirements and goals of your platform.
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How to Create a Real Estate Application?
1. Make Deep Market Research
Before starting the real estate app development process, research needs to be done to determine how users are served by the existing mobile software. Identify gaps between users & the app market and use the data to create mobile software solutions that meet those needs. You can also use the planning and research phase to find a SWOT analysis of competing applications to determine their strengths to implement a similar strategy. Preliminary analysis will be key to determining what type of mobile realty platform is best for you to build.
2. Create a Real Estate Database
The next development step is to create a database that will help your users. If your mobile platform is built to attract tenants, you need a large and accurate database of rental property listings. These real estate app development features are useful for all categories of mobile software, be it building a mobile app for appraisal, buying, or renting. Instead of reinventing the wheel, applications can connect to existing databases, such as the MLSS system used by agents.
3. Creation of monetization functions
The main reason for creating a mobile platform is to monetize its features. Users pay for these features and services of the realty mobile software. These realty business services include property listing and exclusive access to buyers and sellers through priority push notifications. Realtors also benefit from the monetization of mobile apps, which charge a commission in exchange for the latest listings and clients. Mobile app ad revenue can be generated from developers, agents, and other stakeholders who pay for ads on the software.
4. Features of the real estate application
The technology stack and features are important aspects of development. Users rely on certain features to find real estate websites that suit their needs.
5. Search and filter options
One of the preferred features is the ability to search, sort, and filter preferences based on different categories. Mobile app filters can be based on location, property size, amenities, and price.
6. Place, place, place
A real estate mobile app should integrate custom maps as a key part of software development. Mapping technology allows users to search and locate property by integrating with location-based applications such as Google. Location information in a real estate mobile application must be accurate and up-to-date in real-time. Mobile platform development features must be fully functional and advanced so that every search returns timely results for users.
7. Seamless integration
Software development teams ensure that the realty mobile application includes features that can fully integrate with social media platforms such as Google, Facebook, and Instagram. These features make it easier to register a profile on the mobile app and facilitate cross-talk between users on the platform. It also allows users to view real estate images and post property details on various social media platforms with ease. Software development features should include compatibility with web, Android, and iOS devices.
8. Best Real Estate App Development Company
In the realty mobile app development world, there are many options for people who want to build real estate apps. Each company has its own strengths, which they use to create applications to meet the needs of its clients. Geniusee is a development team that can develop real estate industry solutions and helps your users be satisfied. A team can build a simple, mobile real estate MVP software with basic features and provide more advanced features with custom solutions. With years of mobile platform development experience, Geniusee creates apps with specialized features for a wide range of users.
It also can be interesting for you to read about the Key Features of the Real Estate App 2023.
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Key Features Of The Real Estate App 2023
Find out what the advantages of real estate mobile app development are, how such applications work, and how they can help you increase business efficiencyRead on
How Much Does it Cost to Create a Real Estate Mobile App?
The cost of creating a real estate mobile platform will vary depending on many factors, including the app's complexity, the number of features it includes, and the developer's hourly rate.
On average, the cost of developing a real estate app can range from $50,000 to $300,000, with most projects falling somewhere in the $100,000 to $200,000 range.
However, it's important to note that these are just rough estimates, and the actual cost of your app will depend on your specific requirements and goals. To get a more accurate idea of the cost of your platform, you should request proposals from several developers and compare their estimates.
It's also worth considering that software development is just one aspect of the overall cost of a real estate app. You will also need to consider ongoing maintenance and support costs, as well as marketing and advertising expenses to promote the app to potential users.
Luckily, you can save a lot on development costs by outsourcing this process. For example, the development of the same mobile application in Ukraine will cost from $50,000 to $150,000. In the article Outsource Developer Rates in 2022. How to Choose a Software Outsourcing Country, you can learn more about the analysis of development prices in different outsourcing regions.
Hundreds of people are regularly looking for apartments, entering into rental agreements with realtors, buying new properties, or selling old ones. Growing demand and the accelerated pace of life leave people less and less time to solve such problems on their own.
Who will be more likely to turn to for help in these matters? To the one who can solve them not only qualitatively but also faster than others. A real estate mobile app will give your business a competitive edge.
We hope this article was useful to you, and if you have any questions — contact our team.
Real Estate Mobile App Development FAQ
How do real estate mobile apps make money?
There are several ways that real estate mobile apps can generate revenue:
- Paid advertisements. Real estate platforms can display third-party ads and earn money through a cost-per-click or cost-per-impression model.
- Subscription fees. Realty software can charge users a monthly or annual fee to access premium features or content.
- Leads. Real estate apps can generate leads for agents or brokers by allowing users to contact them directly through the application. The agent or broker can then earn a commission on any sales that result from these leads.
- Listing fees. Realty mobile platforms can charge agents or brokers a fee to list their properties at the top of search results.
- Partnerships. Real estate companies can partner with another third-party app to offer products or services to users and earn a commission on any sales that result from these partnerships.
Overall, the specific revenue model for a realty app will depend on the target market and the specific features and functionality.
How to hire real estate mobile application developers?
- Define your project. Before you start looking for developers, it's important to have a clear understanding of your project's goals, budget, and timeline. This will help you determine the type of developers you need and the skills and experience they should have.
- Research potential developers. Once you know what you're looking for, you can begin researching potential developers. You can start by searching online for developers with experience in real estate app development or by asking for recommendations from colleagues or industry professionals.
- Review portfolios and case studies. As you research potential developers, review their portfolios and case studies to get a sense of their style and the types of projects they have worked on in the past. This will help you determine if they are a good fit for your project.
- Request proposals. Once you have identified a few potential developers, request proposals from them outlining their approach to your project, their timeline and budget estimates, and any other relevant details.
- Interview and review references. After you have received proposals from potential developers, schedule interviews to get to know them better and learn more about their experience and qualifications. You should also ask for references from previous clients and follow up with them to get their perspective on the developer's work.
- Make a decision. After you have interviewed potential developers and reviewed their references, it's time to make a decision. Consider factors such as the developer's experience, the quality of their work, their communication skills, and their overall fit with your project.