In 2022, more than 23% of real estate companies will spend more than $500 per month developing technological tools. An electronic signature, local MLS app, social media, lockbox, video conferencing, CRM, transaction management, and presentation/open house software are just some of the most valuable essential tools used in companies in 2022.
However, many of these tools can be implemented in a single mobile application. As the real estate market embraces emerging technologies and adapts to new challenges, application developers must keep up with these changes. Property management tools developed by professionals have a significant effect on the market. They allow us to simplify processes and make renting, selling, or buying less complicated but more efficient.
Why Real Estate App Development is one of the top industry trends
The volume of real estate technology transactions in the United States reached $7.3 billion. Statista notes that as of October 2021, Zillow was the leading real estate and rental website in the United States. It received more than 36 million visits per month, and this number, without a doubt, is impressive.
The real estate market is growing faster than it is possible to imagine. The same month, October 2021, Zillow is suspending new purchases. Big news for Zillow’s competitors in the market: Opendoor’s stock is soaring.
A rapidly developing market leaves no room for error. It would help if you met the needs of all customers; otherwise, you would lose the fight. And a app development nyc can become a weapon against all competitors.
A faster sales process
Agents can speed up their sales process using a custom real estate software solution. Virtual tours in rental search app development would shorten lengthy visits, documents can be signed and transferred digitally, and properties can be found faster.
24/7 in-app communication channel
A 24/7 communication channel in an app enables immediate conversations and reduces waiting time.
A more rewarding customer experience
Customers will be happy to save searches and favorite properties, get detailed neighborhood information, have quick access to a mortgage calculator, take 3D tours, etc.
Automation of routine tasks
Agents will be able to delegate most of their tasks which would typically take time. Property information can be auto-populated, and chatbots can immediately respond to potential customers and generate leads.
Homebuyers also benefit from automation, as they can instantly receive documents, submit offers, and be notified of exciting new homes.
Real Estate App Ideas and Types
A custom real estate app can perform various functions. Therefore, before proceeding with developing a real estate application, you must first identify the type, purpose, and features of your application.
Apps for real estate agents
Custom apps for real estate agents regularly cover all the essential features that simplify communicating with clients. They provide access to real estate documents and further reduce paperwork.
Household management apps
These apps track the current status of houses and apartments available for rent or sale in the real estate market.
Real Estate Listing Apps
Real estate listings apps provide customers with listings of houses and apartments available in the market. Typically, they cover basic information about each property.
Smart home access apps
These apps are used to find houses and apartments with innovative home features. Currently, it is one of the most demanding trends among millennials.
Property management apps
These real estate application software solutions are designed to provide property managers with a general understanding of what is happening with their properties at any given time. They could use the app to see maintenance requests when the loyer is due and their company’s advanced analytics.
Assistance to real estate agents
One can use this type of software for several purposes, such as communicating with customers, managing documents, and simplifying the registration process. This method can significantly reduce an agent’s workload and make their task easier.
Using public and private data on housing trends and past sales, real estate agents and investors can analyze the actual market value of a particular property. The same information helps predict future home values and determine the factors behind those predictions.
Sellers and agents can use 3D tours to create a more authentic experience of viewing properties online. Additionally, according to Zillow’s research, homes with virtual tours were recorded and preferred 32% more than homes without.
Must-Have Real Estate App Features
When considering what features to add when developing a real estate app, it is essential to feel the app’s target audience. It is also crucial to examine the functionality. That said, let’s go over a few features in more detail.
Navigation and Street View
Similar to maps, users can get a deeper understanding of the area. With a Google Maps API, interested events can preview the neighborhood without traveling there.
Advanced search functionality
All search functions should have at least the following options: location, property type, price range, listing type, lot size, square footage, year built, and amenities.
3D virtual tours
Virtual tours can create more engaging listings for homebuyers. It provides a more detailed overview and layout of the property, providing an accurate perception and understanding that descriptions often fail to achieve.
Save search and favorites lists.
Let them create and save a list of properties and searches for later to retain users. It will also be helpful for agents to see what interests their customers to offer similar options. Make these lists easily accessible from the user’s profile.
Cost of Home and Mortgage Calculators
With different calculators, they can receive automatic estimates to facilitate the process. Ownership costs can be determined with down payments, taxes, and interest, while mortgages include monthly fees, taxes and insurance.
Ratings can retain and retain buyers. If past customers leave reviews for agents or owners and users post neighborhood ratings, an app becomes more trustworthy and transparent.
Customers can get on-demand responses without delay with a chatbot and live chat. Frequently asked questions can get automatic answers, and users will learn more about a particular topic without searching for it through the app.
Augmented Reality (AR)
AR can benefit both buyers and sellers. Interested users will appreciate the customization of properties with new wall colors, different furniture, and updated interior layouts.
Categories and filters
Categories and Filters are other options that help simplify the search process. When developing a real estate app, understand which features are most demanding among your customers and add them to categories and filters.
A real estate application needs to have integrated databases, especially if it helps find a property. With the help of third-party applications, such as home finder, and APIs, MLS data can streamline the data flow and configure it to match the format of the application.
Agencies, agents, and homebuyers need full instant messaging to communicate with each other. It’s not just about sending SMS and emails, but also files and other attachments. We strongly recommend implementing voice and video calls to create more communication options.
For the company, the collection and processing of information on the preferences and behavior of its customers are essential. The scan results can make the search for the house or apartment more efficient.
A profile can also benefit agents. A real estate agent can describe their experience and features, attract potential clients, or post their listings and availability.