The real estate industry is one of the golden industries that never run out of trend. As people are always looking for property to rent, buy or want to rent or sell their property, this industry provides businesses with a lot of potential opportunities to expand and grow. In the past, people used to visit offices of multiple brokers who would then make them visit dozens of places before they choose one to rent or buy. Similar was the case with the ones wanting to rent or sell their property. However, with the emerging technology, these tasks have been shifted to mobile platforms.
Just a few years ago, mobile phone apps started revolutionizing the real estate market and today, we see hundreds of real estate apps catering to the needs of billions of clients all over the globe. This industry is growing at a rapid pace and experts suggest that it will grow multifold in the years to come. If you want to enter this industry, we suggest you make a real estate app and you do it quickly. All you need is to develop an app and launch it for the customers. Here are some steps and information you would need along the way.
Some Stats About Real Estate Market
The growth of the real estate market is the biggest reason for people to invest in it in one way or another. However, buying and selling the property is just one way of investing in this industry. There are various other ways to invest and grow with the market itself. Even though the real estate market is growing at a rapid pace, some people only like to believe in the stats and figures. We have gathered some statistics and figures to share with you:
- A report showed that the USA alone has more than 2 million realtors working full time in the real estate market. You can only guess the number of realtors around the world.
- Apart from other platforms, around 80% of the realtors are found using Facebook to reach out to potential buyers.
- Census reporting of the USA shows that around 64% of the house-owners are living on their own property while 34% of them have rented their houses.
- According to a report by the National Association of Realtors, the realtors in the US make $49,700 grossly every year. This number has reportedly increased to $65,000 this year.
- Zillow has predicted that the prices of houses will grow by twice in the year 2022. Market experts don’t seem to have a different opinion.
- A report on the Apartment List, one of the trustworthy rental reports, suggested that most of the world’s largest cities had an uninterrupted and rapid growth in the rents owing to the pandemic.
These are just a few of the statistics and figures from the world of the real estate market to show you the potential it has. It has been termed as one of the very few industries that have benefitted from the Coronavirus pandemic. The experts suggest that the growth of this industry is not going to be halted in the years to come as well so we recommend you to make a real estate app right away.
Do You Know About The Success Story Behind Zillow and Trulia?
If you are someone interested to get into the domain of real estate with an app or just a business idea, we believe you already know much about Zillow. It is an online platform catering to the real estate needs of the citizens of the USA. Just to motivate you to keep on fetching your dream to launch a real estate app, we have decided to share the success stories of Zillow and its subsidiary, Trulia
Zillow was founded when its founders saw a potential opportunity to help people looking for ways to rent, buy or sell properties in the USA. Not just that, they realized that their target market has lesser knowledge about the industry so, they decided to teach them basics as well. In short, Zillow started as a company aiming to teach people about real estate and cater to their needs as well. Over time, Zillow kept advancing itself by introducing a new element called Zestimate. It used a proprietary valuation algorithm merged with fine advanced technology to provide people an estimate for the desired property.
Zillow emerged as a flagbearer of revolution for real estate. If we look closely at the story of Zillow, it is clear that they became successful because they knew their target market, the pain points of their customers, and they did not shy away from using new technology in their work. It has made a lot of lives easier and is still aiming to make itself more useful for its customers by introducing financial solutions powered by technology.
Benefits Of Making A Real Estate App
The real power of any solution is the list of benefits it can offer to people. This is the same thing that can either make or break a business. Since you want to enter the real estate industry with a mobile app, it is important for you to know the benefits people are already enjoying. This will help you finalize the benefits you want to offer or probably bring some new benefits for your target market. Here is a compiled list of benefits of a real estate mobile app:
- As a realtor can offer only a limited number of options for the property to buy or rent, customers have to talk to multiple realtors. Contrary to that, a real estate mobile app gets you options equal to 10 realtors.
- Similarly, for the people who want to sell or rent their property, posting the property on the real estate mobile app helps the owners reach out to a huge number of buyers.
- Hosting the property on a real estate mobile app is seemed as trustworthy to potential buyers or tenants. It gives you leverage above sellers not listed on an app.
- If you make a real estate app, you have reduced the chances of rejection once the deal has been finalized. Once a buyer and seller have connected decision-making speeds up and the deal is finalized in no time.
- Since you are present on a digital platform, you can receive reviews from your previous customers, which will boost your image in front of new clients. This helps the realtors gain more clients.
- Hosting properties on a mobile app eventually helps a realtor make his own value as a brand with a strong presence. It provides a chance of growth for realtors by helping them gain the limelight.
Real Estate App Features
What makes a real estate app different from all the other apps available in the market is the way it is designed and developed. These apps are made to cater to the needs of the real estate industry’s all stakeholders – buyers, sellers, and realtors. Here are some of the features of real estate mobile applications:
Sign-Up / Sign-In
This feature might seem like what every mobile app has, however, it is a needed feature if a business wants to have its users keep coming back. These apps dedicate the opening screen of the app to the sign-up / sign-in feature. If the person using the app is someone who uses it regularly, they can use their credentials and log in. For new users, here are the details an app can ask while signing them up.
- Full Name
- Contact Number
- Email Address
These details can help businesses create a personalized experience for users and keep their information secure. Moreover, they can also the information provided for marketing purposes.
Differentiate the Profiles
As we discussed before, a real estate mobile application is focused to deal with all the primary stakeholders of the industry. This brings us to our next feature – user profiles. A real estate app offers the user to select between the profiles of the seller, buyer, and realtor. Also, change the design of the screens and information shown on them to give their app a personalized touch.
For the seller profile, an app lets the user upload the name, details, pictures, dimensions, and location of their property. It also allows them to see the buyers who are interested and start a chat with them. For buyers, the app allows the user to view different properties by applying different filters and get in touch with the sellers of his choice. For a realtor, the same app allows him to upload multiple listings, view them, see the list of interested buyers, check the number of views of an individual listing, advertise listings, etc.
Filters for Search
It is almost impossible for the buyers to go through every property to look for the one they want to buy. For such occasions, these apps have filters to make search better and easier. The buyer can utilize different filters like location, date posted, price, facilities available, and some others. These filters give the buyer more time to decide the property they want to buy or rent rather than wasting time going through all the listed properties one by one.
Another feature that makes the lives of the users is the category. Make a real estate app in which the features allow the sellers to list their properties with the closest categories they relate to. The buyers can filter the results through these categories making it easier for them to find the property of their liking. These filters include houses, apartments, commercial, restaurants, hotels, bars, and others.
Everyone loves to buy a property they know everything about. Real estate mobile apps allow sellers and realtors to make profiles for every listing. These profiles include details like address, number of bedrooms, dimensions, facilities available nearby, location on the Google maps, facilities available inside the property, year of building, etc. These details help the buyers create an image of the property in their minds. Today’s property profiles also allow the users to add images and videos for better buyer capturing as well.
Save / Favorites
It is not compulsory that only one property attracts you. It is even more unlikely for you to do a hectic search all over again to find the property you once liked and could not save. This is why these apps come with a feature of saving / marking as favorite. It allows the buyer to see the properties they like and save them to compare later on to find the right deal. Similarly, these apps allow the sellers to save the deals they like so they can accept the ones with more benefits.
How Much Does it Cost to Make a Real Estate App?
Everyone is passionate about having an app that makes them successful and billionaire. However, most of them fail to achieve their goals because they start with little to no idea about the money that goes into the process of developing an app. If you are eager to make an app like Zillow and launch it in the market, we have made a proper budget for you.
Basic Real Estate App
If you don’t have a lot of budget or want to start small, having a basic real estate app is the best option. Such an app comes with features like sign up, search, filters, categories, and an option of chat for the seller and buyer. This app also does not provide a personalized experience to all of the users or allow them to make a profile based on their preferences.
It is the best option for you to test waters and invest smartly. An app development company can easily charge you $10,000 to $14,000 for developing this app. However, if you want to have this app before the timeline provided by the firm, you will end up paying more.
Mid-level Real Estate App
We can see a lot of mid-level real estate mobile apps in the market these days. These apps are either transformed from a basic app or are built to cater to a larger number of people. They come with the features of the basic app and allow the user to make profiles of buyers, sellers, or realtors. They also offer a personalized experience and the option of video-calling the seller to have a virtual tour of the property. This app costs from $30,000 to $40,000 and can cost more if the delivery date is less than 6 months or special features are to be added on demand.
High-level Real Estate App
These apps are rich in features and experience. They cover all the features of the basic and mid-level apps and offer more features like making transactions online, adding more people in the chat, making personalized filters, saving filter settings, and much more.
These apps are less in the market but capture a good number of customers. You must be willing to spend $50,000 to $60,000 to have this app developed. If you have some extraordinary features in your mind or want the app in a short timeline, have a discussion with the developers and they might charge extra for it.
Do You Want to Discuss Your Real Estate App Idea?
It is always better to have your idea discussed before having a team of developers sit down to develop it for you. Sadly, most app development companies charge to listen to your ideas and share their review. However, we have just the perfect solution for you – Origami Studios. This mobile app development house has more than a hundred successful apps launched in the market offering steady growth to its customers. It has tables full of skilled, professional, and experienced developers who enjoy developing apps that set trends in the market. The good news for you is that Origami Studios is always open to listening to your ideas and providing valuable feedback so you don’t waste your resources. So if you want to make a real estate app and you just want to discuss it, we’re here for you.
Real Estate App Development: Conclusion
It sounds exciting to enter the real estate market with a groundbreaking app, however, it is not that simple and easy to take over the market. Zillow’s success story clearly tells the importance of knowing your target market, evaluating your competitors, and developing the right strategies merged with the perfect app. If you are passionate enough to have a real estate app launched, we believe you would not fear away from spending a few weeks learning the tricks about winning over the market.
Start by understanding the features your customers desire and the budget you would have to spend for having them. You might have to decide the level of the app you are planning to launch and then approach a mobile app development firm to access your idea. Don’t forget to mention all the features you want, the design of the app, the delivery date, and the budget you are willing to pay. Once you have signed a project with a team of developers, you can sit back and relax while your app gets prepared to take over the market and earn you the benefit you desire.
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