Contact us anytime to know more - Kuldeep K., Founder & CEO CISIN
Because of their informed customers and growing dependence on mobile phones, real estate companies are more tech-savvy than ever.
Having a responsive website or property management apps for real estate is not enough. Today's customers actively look online for information to make significant and small decisions. This includes ordering food, shopping, renting, or buying a house.
How Mobile App Development Has Revolutionized Over Time?
In 1973, the first handheld mobile phone was created. However, it took 20 years for commercially available cell phones. IBM's Simon, a 1993 phone with touch screens and built-in apps such as a calendar and contact book, was released.
In 2002, the Java-based Blackberry 5800 was followed by the Blackberry 5810. This revolutionary device featured integrated apps such as wireless email and connected wireless mail. Java is still the primary development language for Android apps.
Both Apple and Google opened online app stores in 2008. Nine months after its launch, Apple's App Store had reached one million downloads. There were 230 billion mobile app downloads for the first time worldwide in 2021 across both Android and Apple devices.
Apps became more sophisticated as mobile phones appeared everywhere, and their development boomed. Although the initial apps displayed information based on user inputs, many apps today can infer the user's requirements and provide information without being asked.
How Real Estate Mobile App Development is Profitable for Businesses?
The best marketing tool for your business is the app you develop using a mobile application development platform. Through custom mobile app development, we aim to engage and retain customers. Developing mobile apps for real estate businesses offers an excellent user experience and access to various portable tools and features. This will allow you to put your real estate business at their fingertips.
Real Estate Mobile App Development has made the real estate market more competitive. You should know this if you're in the real-estate business. It isn't easy to convince a potential buyer to purchase a real estate property. Each customer will need to be accompanied by you to the property site to show it, demonstrate your best offerings, and enter into price negotiations.
Did you know that mobile apps can be used to reach your customers more effectively? However, it is not certain that they will accept your offer. Your loss is your competitor's gain.
It is simple. Potential buyers and homeowners looking to buy real estate want the ability to view relevant property data on any device. Real estate buyers are more than just using their desktops or laptops. They use intelligent devices such as tablets and mobile phones to research and make informed purchasing decisions. They love to use mobile apps to get all the information they need, whether it's about home renovations or buying a property.
Statistics show that real estate companies worldwide support the real estate development app for property business. Real estate has not been quick to adapt to new mobile technology trends. According to the 2017 PWC report, realtors may lose potential business opportunities if they cannot use existing technology strategically.
These are just a few findings from the 2015 National Association of the Realtors (USA) report that will revolutionize how you think about mobile app development for real estate.
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70% of US buyers are interested in buying properties, and 80% prefer to search for agents via mobile apps.
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Brokers are willing to spend vast amounts on mobile technology because of the growing demand for mobile app development in real estate.
Mobile technology is growing rapidly, and real estate app development can help you get more customers and offer lucrative deals they can't miss. A mobile app that is user-friendly for real estate companies can improve your market reputation and customer interaction. This will have a positive effect on your ROI.
Real Estate Mobile Application Features That Drives Growth for Real Estate Business
Mobile apps are now in control of our phones. They can do everything, from driving directions to scheduling appointments. They dominate business and productivity, so it is not surprising that they have taken over the world. Many apps streamline existing business processes and simplify tasks. Others introduce new services that are creative and imaginative.
Mobile apps for real estate businesses can help property hunters and realtors achieve their goals. A mobile strategy is essential for realtors. They can also use technology to improve their business. What are the benefits of a mobile real estate app? Let's see.
CRM Apps
Mobile-only CRM apps can generate leads by using social media channels or portal ads to reach new customers. These apps track all communication and remind agents when it's time to contact them. It allows agents to create websites, send emails, and see lead score rankings.
Paperless Offices
Businesses are increasingly struggling to deal with the mountains of paperwork and clutter that can hamper productivity and order. Real estate document management apps are available for both desktop and mobile. This allows realtors to be more mobile, focus on their core business activities, and less on paperwork.
Wider Reach
You can think of it like this: When you have website visitors, you draw them in, but when you have real estate mobile apps, potential buyers will be attracted to your website. Your mobile app is not just for property buyers but also for property sellers. Your application will be a massive hit with sellers. You can offer your properties for sale, giving you a competitive edge and a way to grow your revenue.
You can convert potential buyers by providing details, mortgage estimates, and offers in your application.
Property Cost Calculators
A price calculator can be an excellent addition to any real estate app. Developers can add a cost estimation feature to give you an estimate of the property's total cost.
The calculator should be detailed enough. The calculator should be able to calculate the final amount using different factors, such as taxes, initial payment range, loan interest amount, and loan repayment schedule.
Faster Sales to Seal More Deals
If you don't have an engaging and simple mobile app for your real estate business, it doesn't mean it's sufficient. You must strategically develop the app to ensure that your business goals align with your customer's interests. You can offer your customers special deals and offers with real estate app development. Push notifications are an excellent way for customers to be informed about the latest deals, projects, and property listings.
Calculating the EMIs is another essential aspect of any real-estate business. Making mortgage and loan calculators an integral part of property booking online solutions can help you attract more buyers. Prospective buyers can quickly select any property and calculate their monthly payments using the real estate mobile app. This eliminates the need for loan calculations on your phone (calculator apps). It also slows down the transaction process.
Engagement and Commitment in Better Way
We must consider the features of any product before we buy it. AR-VR features allow direct interaction with the properties. Customers have a more effortless experience and a shorter commitment strategy to find their dream property. AR is the crucial principle that allows 3D reality to be created from 2D images. The phase deals with size, plan, furniture placements, and placements for electronic goods is responsible for the quality experience and virtual reality.
Property Exposure in Real Time
Augmented features remove all barriers that prevent property owners from selling their properties to buyers. With better management and exposure, potential customers can be connected directly. This is why many real estate dealers can get the opportunity even if they don't have a huge name.
The design of websites for real estate has been a big deal for dealers. Their business may grow with greater hopes. After such exposure, sales and revenue will show their true colors.
Advanced Search Functionality
A well-filtered search can significantly improve the user experience. Developers may use A/B testing to determine the order in which criteria are presented to users and which query is most common. AI and analytics may help an app deliver more relevant results. A property management tool or search should include location, type, housing price, list type, lot size, square footage, and construction year.
How Much Does It Cost to Build a Mobile Application for Real Estate Business?
Now that you are clear about why your real estate company should invest in app development, you may be curious about the cost.
What does it cost to build a mobile real estate app? App development costs are affected by many factors. Let's be honest.
The following factors are generally responsible for determining the cost of real estate app development:
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Set of features
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Design
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Technology and Device (iOS/or Android).
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Hourly rate for the development company
The location of the real estate app development company will determine the hourly rate. Companies in North America charge $50-250 per hour. Eastern Europe might offer more affordable options.
What Future Holds for Real Estate Industry?
Real estate trends of the moment can be described as a mix of positive and negative developments. First, real estate prices continue to rise, driven by many factors. The COVID-19 pandemic has also had a significant impact on this. The ongoing economic downturn and the emergence (Forbes 2019, 2019) of a new buyer group in the form of Millennials are two other factors. Some sectors aren't happy with the rise in home prices and express concern that there may be a housing crash.
Artificial intelligence (AI) Expansion
More companies, such as optical character recognition technology, will release AI-based services to simplify transactions. AI that can provide more accurate market forecasts will be available. This technology can provide almost 100% accuracy in predicting housing prices for rent or purchase in different cities. AI benefits businesses looking to lease long-term office space and find the best deal on the market.
AI is used by some of the largest companies in real estate, including Compass, Zillow, and LoanSnap, to help buyers find the right home and mortgage. This technology simplifies the work of real estate agents.
Digital Twins
Potential buyers will have greater access to information online and more options to explore properties. Imagine being able to see a digital 3D model of every building as you search for housing. These applications can predict the environmental conditions that a house will be able to withstand (earthquakes and tornadoes, for example). Companies that maintain buildings will have information about the facility's current state (potential damage and date of repair), as well as a plan for escaping the fire.
Digital twins are also valuable for the construction of houses. This helps the developer to understand how safe their project is. These applications help prevent the collapse of buildings, and they can allow developers to use their resources more efficiently.
Robotic Process Automation
Communication is a significant problem in real estate transactions. Two groups of people can now communicate online using new technologies. Chat, file sharing, and transaction tracking are all possible online. A chatbot can be used to help potential buyers solve small questions. This can significantly reduce the time required by real estate agents.
You can also create an AI-powered Virtual Assistant solution that allows customers to interact with a robot that speaks the same language as a human. This assistant can help potential clients connect with natural agents for more detailed discussions about real estate issues.
Analytics and Data Management
Data will impact decisions. Since there is no central agent system, start-ups have endless opportunities to improve and modify the existing process. This is why now is the right time to develop an innovative solution for this industry. An application can be built that analyzes many data and provides valuable information for real estate market participants. Your answer could, for example, show how reliable a developer is and the reliability of their buildings.
The Key Takeaway
Businesses can compete with modern technology. The demands of homebuyers are increasing, and they want easy-to-use applications. This will only increase the demand for these apps. Experts predict that the world's population will double by 2050. This means that even more people will require their own homes.
In the future, companies may create apps that allow people to buy houses without using real estate agents. How? Developers will develop virtual agents to do their jobs more efficiently and quicker. These companies will serve as both agents and application developers.
