Real Estate App Development – Cost & Key Features

Summary:

In this blog, you get to know more about real estate app development. We explain in detail the real estate market analysis, its benefits, what features are included in it, cost to develop the app, tech stack used for the development of the app, how investors and merchants run and monetize their application. In short, we will let you know the step-by-step process for real estate application development accurately with the market value.

Who hasn’t faced the struggles of shifting to a new city and finding accommodation that can make them feel home away from home? The search process is quite difficult. Asking every “to let” marked apartments about the availability and other details and being stuck. The cycle is endless. One can never be sure of the property that they may take for rent.

To save your customers time in visiting these properties physically, let them download the real estate mobile app to find the right place to stay.

Today more than one-fifth of people are using real estate mobile apps to buy, sell, and research properties. No surprise that property searching on mobile apps has escalated by 120%.

We no longer live in times when people used to head from one broker to another or from one house to another, on their hunt for property. All it needs is a swipe or a click real estate mobile application on their smartphones to shop for a dream property or house while sitting in the comfort of their home.

The easy deal isn’t it?

So, if you want to enter the market with an opportunity to expand your customer base, real estate app development is the right idea.

How Real Estate App Development Makes Things Easy for You?

Being in the property dealing business, you can immensely benefit from real estate application development which gives striking returns rapidly. Your business would get to offer vast proper listings in a very appealing manner, visually. You have an easy reach to the customers all along the day, locally as well as internationally, able to maintain great control over the site content and receive instant messages and notifications for quick follow-up.

Hence, if you are keen on establishing your business and brand without going the traditional way or for expensive methods (flyers, advertisements, cold calling), you can majorly benefit from a property mobile app. With professional and high-performing real estate application development you can accomplish a lot of tasks like controlling your listings, monitoring transactions, showing houses, finalizing a deal, all while sitting at your home or office couch.

Mobile app development for real estate would be a little complicated and need expertise and experience. Thus, you need to hire mobile application developer in the town for a highly rewarding and interesting mobile app.

Top Industry Players and Market Share

  • In the Indian market real estate has its wider prominence, not from today but from a decent amount of time. In the real estate market, the revenue share in this niche has converted at a 13% rate with the cost of $1Trillion by 2030.
  • According to the MCSI report, the global market of real estate will continue to grow from $10.5Trillion in 2020, which is 1.6 times more than it was in 2010.
  • Leading countries participating highly in the sales marketplace are the USA, China, UK, and many others.
  • As per the source of the US census bureau, in 2014-2018, the percentage share in the owner-occupied housing units is found at 63.8%. While the new home for sale goes to 4.5% within a year only.
  • The property assets focus more on the zero-emission of carbon and as per the reports, it will be reduced to 80% by 2030.
  • The Government of India is much concerned with real estate. It has raised the townships and settlements for the development of niche projects with 100% rationale.

Categories of Real Estate Market

As per the ideology for physical instance, real estate is divided into four categories.

Residential

Residential is the best option serving the family and homage to people. It includes many options like houses, townhouses, duplexes, vacation homes, and condominiums. The platform consists of a range of newly constructed homes or resale ones.

Commercial

This kind of property is exclusive to business partners. Owners who have other property than home, which they plan to open for small businesses or shops, to gain decent income. Under this category, it includes offices, shopping centers, hotels, hospitals, and colleges.

Industrial

This includes the manufacturing of the buildings or any production center, for the companies, warehouse, for storing of essentials.

Land

This kind of space is underdeveloped or vacant, which is turning into a building after rehabilitation. Farmers commonly have such places for their farming and ranches.

The genre of real estate is so vast, you need to understand the ethics and intervention behind it, in order to offer them to the people with similar admiration to buy. Perhaps, the construction and other incentives are developing independently with workers. For every different category, there is a different list of rules and monetary.

What Are the Benefits of Having a Real Estate Mobile App?

As the world is shrinking with digitalization, everything is available with a click. You want dresses, shoes, medicines, groceries, books, or even salon services; from nothing to anything for everything we have mobile applications. Following the trends, next in the line of popularity is a real estate mobile app development. If you are a realtor who is looking forward to taking their business over the digital frame then you would like to consider these advantages too.

  • High Customer Engagement and Conversion
  • Better Coordination between Developer and Broker
  • Power your Customers with Geolocation
  • Stay Connected with Customers 24/7
  • Better Property Viewing Experience
  • Clean Property Insights

These are a few benefits of availing a perfect solution from a real estate app development company. If you want to help your customers deal with their property-related issues, just let your developers bring to the table a well-developed app that is impressive and highly rewarding.

Read Also: How to Form a Great Mobile App Development Team That Deliver Success?

Make sure your product is feature ladened and can resolve even the smallest issues of your customers.

Popular Apps in the Real Estate Market

In 2022, the market of real estate is composed of many top players for selling, renting, or buying properties. In the below list, some players are earning a large user base and profit, and Zillow is one of the most popular among them.

  • Zillow
  • RedFin
  • LoopNet
  • Trulia

Monetization Models

  • Without waiting for any halt, let’s discuss the growth models to make a real profit in this real estate market.
  • Advertising Model: Many popular models are following this model, like Zillow, or Trulia. Under such a model, real estate agents can promote their services to make more traffic in a shorter time. However, keep in mind the relevancy of the ads from the third party, that should not distract the buyers.
  • White Label Model: It’s the new way to earn money. You make the license available to the other interested developers so that they can make changes to the code and customize it. For it, your platform must acquire all the best placement of features and methods to garb potential parties.
  • Subscription: In this subscription model, realtors place the relevant ads under in-app utilization, with short-type videos. Subscribers with premium services avoid free ads or turn them off. The packages are monthly, yearly or annual sense, a good opportunity for the business.
  • Commissions: This is the method to earn a large amount of cost using the commissions with a deal between the seller and buyer.

What Are the Impressive Features Your Real Estate App Development Company Must Include?

Having a mobile application that is efficient and offers information related to all the aspects of the property is important. There are a few features that your real estate app development company would need to focus on. We share here a few features that would be a prominent part of your real estate mobile application.

User Panel: What Does the User Want?

  • 3D Property View- Offering a 3D view of the entire property is a great feature as it not just does it instantly appeals to the buyers but also allows them to have an entire knowledge of the property they are interested in. Let your on-demand real estate mobile app grow better and have an edge over others in the market.
  • Favorites- This feature allows users to add their most-preferred properties to the favorite list. The experts who create real estate apps understand such features in your product would make it more popular among your customers and if they’ll enjoy the experience then you get some marketing too.
  • Calendar- Keep things in check like which property was viewed on which date. A synced calendar would make it easier for the customers to schedule and remember property visits. This would also help them manage their schedules thus saving time.
  • Map- You surely need to integrate maps in your real estate mobile application to ensure that your customers get a good idea of the location and the routes of the property they are about to visit.
  • Get Brokers Details- It is easy and convenient to contact the broker of your desired property with all the contact details provided along with the property. It is important that the database of your on-demand real estate app is built strongly and has the details of the brokers and owners along with the property.
  • Contact Seller through Email or Sent Inquiry Message- Buyers looking for a property can also contact the seller via email or can send an inquiry message. The responses are often prompt. To make sure that no probable sale is interrupted, chat and contact features turn out to be important.
  • Sorting- App users can sort the properties as High to Low or Low to High, as well as can filter their search as per the area, prices, and other factors. Real estate mobile app features need to be quite interesting that would let the user sort the properties according to their needs.
  • Discussion Forums – Heading here, the users get all the information they require by getting the chance to discuss with the liable associates. With frequent discussions, it becomes easier for the customers to have reviews and feedback on the property they like.

These are a few basic features that your real estate app developers would use in your mobile application for engaging solutions. If you want to add some more features, then you can surely reach us in no time.

BROKERS APPLICATION: What Makes App Perfect for the Realtor?

When we talk about a real estate mobile application, it becomes quite important for us to understand that it is not only the end-users who would impact the application market but also the realtors. Our real estate app development company here has some significant features that realtors can benefit from.

  • Register/Login- It is important that the brokers register to the mobile app using the email ID or one can even use social networking credentials. If it is easier to register with your real estate mobile app, then surely you are having a lot of people who would install and use your app.
  • Profile Verification by Admin- The profile needs to be verified next by the admin. This step is crucial in order to maintain the authenticity of the app. Once the broker profile is verified they would get to connect with the customers who are searching for properties.
  • Search Property- Once the profile is verified, users can now start searching the desired property. This would make it easier for the broker to locate the available property and take customers to visit the place. The real estate mobile app design is done in a way that brokers and customers are always on the same page.
  • Filter & Sort Property based on Various Parameters- Users can filter as well as sort their search options on the basis of their requirements and parameters. When you reach real estate mobile app developers they must add features that would only make things easier for the brokers and admin too.
  • List View & Map View for Property Listings- They can choose between List View & Map view as per their comfort while going through property listings. As the broker can check the current status of any property online, they can let the customer know the properties available and can continue with great working styles.
  • Get Details of Selected Property- If the users come across a property that matches their interest, they can seek the details accordingly. Real estate application features are designed only to ensure that the broker, customer, or any other aspect of the app finds it easiest to use.
  • View/ Edit User Profile- Users are enabled to view their profile and can edit it according to their liking. If you think there is something that needs to be added or removed from any certain profile, then the user can easily remove it from their profile.
  • Add Your Property for Selling or Rent- Users can even add the property that they are keen to sell or to put on rent. Any real estate mobile app development company understands the business is all about selling and renting properties and thus, it becomes the most significant feature to include.
  • Purchase Subscription for Listing Properties- Subscription for listing properties can easily be purchased with in-app payment modes. This is the best way to monetize your business. So, if you want to earn better profits, just make sure you get the best results in no time.

ADMIN PANEL: What Needs to Be Controlled?

When we talk about the admin panel there is an important aspect that you need to consider. It would have the control of the realtors and the end-users. The real estate application development service providers make it a point that despite all the features and transparency the data security and confidentiality of the users is maintained.

  • Reports- From this section, the admin manages the reports or requests in concern of adding a property, purchase requests, selling requests, etc.
  • User Management- Admin needs to manage the users from here. The users may vary from sellers, buyers, brokers, etc.
  • Property Manager- Property listing can be managed from here by the Admin, who is responsible for the new additions or list removals. The real estate app development company makes sure that the admin panel is different from the broker panel and they can work in various ways on the property.
  • Add/Remove Property- The Admin can add or remove property from the listings from here. S/he is the one responsible for its management.
  • Currency Converter- This feature allows the users to see the property price in their currency. Since we deliver global solutions we make it a point that the user can switch the currency to its local currency.
  • Customer Support Manager- Admin is responsible to provide the users with trustworthy and reliable support, answering all their queries, and making them feel at ease while using your app.
  • Add/Edit/Remove Subscription Packages- From here, the admin can add, edit as well as remove subscription packages.
  • Earning Management- Earnings acquired via property deals and subscriptions are managed by the Admin from here.

OTHER FEATURES

Along with the features for the three aspects, some other important features would set your real estate mobile application apart from your competition. Our experts study the market well and make sure that the resulting product is the best of all already in the market.

  • Social Sharing- Using this feature, the properties which can be up for sale or rent can be shared on social media, which will attract more buyers.
  • Map View- The mapping facility allows the users to search properties as per the area and location.
  • Image Gallery- The gallery offers all the pictures of the various properties offered by the users in the app.
  • Blog- This is a sure-shot way to attract more and more users by enlightening them about various related topics, like things to consider while buying a property, etc.
  • Testimonials- The best thing to rely on is our client testimonials as they leave no scope for errors, with the users getting the review about the app and its listing from previous users themselves.
  • Broad Match Search- This feature enables users to expand their search criteria and look widely around for properties.

ADVANCE FEATURES

Geo-Location Tagging- This feature is quite integral for interactive Real Estate app development, as it allows the app users to find nearby properties. The geolocation feature within the app leverages the GeoTag or GPS location of a smartphone making location-based house hunting possible for users, using the smartphone’s GPS. It lets them see the properties or homes for sale near their current location in real-time on a map.

Mortgage Calculator- It is quite understood that your time is really precious and with the basic and easy-to-use calculator provided within the app, it gets convenient for the users to find out what they can afford by getting an estimation of their monthly mortgage payment. The mortgage loan calculator, which is simple and accurate, allows them to calculate new house purchases and refinance, and a lot more.

Heat Map- Well, Heat Maps are an easy and fun way to find your dream house. It’s a brand new and innovative style of property searching, with different colors and icons depicting different aspects. These maps offer an easier and way more yielding style of searching for your desired property. These maps are designed with an intention to offer you comprehensive real estate information in half the time, hence offering more scope for actual site visits & discussions. Its many features include searching as per the budget, possession date, property type, nearby locations, etc. Besides being fun and interactive, they considerably reduce the time taken by students to search for the right property.

Interest Rate Calculators- Using the in-built Interest Rate calculator for home loans, users can get an estimation of interest payment, with taxes and insurance. They simply need to enter the price of the home, down payment, and other required details and the interest rate will be shown to them accordingly.

Lead Management- The lead management software in the real estate apps has an imperative role to play in converting more leads into deals faster. This feature will dramatically improve the lead conversions and you will start reaping the benefits sooner. This highly effective feature can help things run more smoothly and further allow you to analyze client activities to gauge customer loyalty as well.

Push Notifications- Push technology comes as a great deal for engaging the users. They not only keep them attentive with the special offers/ events/ news/properties but also assure that your app will remain on their mobile for a pretty long time.

Custom Mail Reminder System- Buyers who are looking to buy property will like to get reminders for new property listing and offers. These reminders are certainly very beneficial for the ones who are very tuff and busy.

Use of AR & VR- With rising AR and VR Technology, the Real Estate Business can benefit a lot. E.g. You can demonstrate the homes in 3D that can give your customers a true picture of how a property looks.

Read Also: Evolving Mobile Experiences by using AR and AI

Real-time Analytics for real-time Decision making with the help of real-time analytics, the admin can make instant decisions for streamlining the business operations effectively. The data relating to the user order request types, the category of users visiting the most, and other important data can be analyzed for quick decision-making.

Related Blog: What will be the Cost to Develop a Virtual Reality App?

CRM Solution- When the CRM solution is integrated into Real-estate apps it helps in gaining better conversion rates and will boost your real estate sales. With CRM you will see how a little bit of data can majorly turn things in your favor. The system is useful in sending messages and alerts to the customers regarding various offers, activities, news, etc. as well as it has a great role to play in marketing and promotions schemes. All in all, with the right CRM you can manage client data in a way that helps you be better at what you do.

ERP (Enterprise Resources Process) Solution- Real Estate is a huge industry that certainly needs a massive solution to manage the miscellaneous sections and workshop proceedings. With ERP solutions, you can manage large-scale operations easily as it looks after the many modules such as HRM, Employee Management, Lead management, business workflow management, payment modules, sales team management, etc. By integrating this software into your real-estate app, you can make things easy and convenient. User Experience is Important. Once all these things are taken care of, all you really have to look for is the right real estate app development team that understands your needs well and initiates the app development process accordingly. Ensure that your requirements are properly communicated and understood by the team of designers, app developers, and other technicians.

What technologies are used for Real Estate Development?

  • Build real estate real-time mapping: MapBoxGoogle maps APIs, MapKit
  • Registration or signup process: Google sign in, Facebook SDK
  • GPS mapping; track the location of the user, get the information of the local/nearby stores, restros, clubs, etc.
  • For notifications; Firebase or Apple Push Notifications
  • Corelocation; get the information of the retailer’s location
  • Coredata; save the houses or other properties.
  • Zillow API; listing of nearby place information
  • Spark API; data flow from MLSS
  • Market automation; Dotloop
  • Automated voice mail; Agent Legend
  • Automatic inspection; Spectora
  • Digital asset management
  • Accounting and financing automating; Xero
  • CRM; Zoho CRM Analytics
  • ERP; Netsuite, Microsoft Dynamics 365, SAP ERP.
  • Front end languages; HTML, css, php, js,
  • Syndication platforms (pool where multiple investors buy a property together); list hub, point2, 365 connect, realtors.

How Much Does It Cost to Develop a Real Estate Mobile Application?

The cost of the real estate application development depends on its size & complexity. If you want a basic app you would get it for around $3000 and if you talk about the advanced feature ladened Other than that, the location of the developers and the number of hours consumed in the app development play a vital role in deciding the app development cost. Based on different zones, here we have outlined the real estate app development cost.

  • US-based developers: $100 to $250 per hour
  • Eastern Europe-based developers: $80 to $180 per hour
  • India-based developers: $25 to $50 per hour

Now according to the segments to be developed, the actual cost of real estate app development in India is graphed below:

  • Technical documentation (40 hours – $1000 to $2000)
  • UI/UX design (60 Hours – $1500 to $3000)
  • Front-end and Back-end development (400 Hours – $10,000 to $ 20,000)
  • Testing (80 Hours- $2000 to $4000)

After calculating the above overhead charges, the average cost of a real estate mobile application development can be outlined. A reasonable app with limited features may cost up to $10,000 to $25,000 for a single platform and the charges can extend up to $35,000 in case the app developed is feature-rich and is driven by high-quality standards.

Top Trends Emerging with Real Estate Sector

Building the skyports for the building is the new verge into the segment of the development of the real estate. How about that? The ethics must reside in the mind for adjoining new parameters to impact investors; from climatic risk to transparency into the data availability. Everything must be configured properly for the future of the buildings and looking to serve more with the real estate partners for the new generations.

Let’s in brief, look at some of the important key factors that should be kept in mind for real estate.

  • Resist the climate risk buildings
  • Build environment-friendly places, for the people; keeping in mind the social distancing and impact in real lives.
  • Work with the adage; location, location, and location. Real estate properties not only have a single dimension to consider but it’s also been more diverse than ever and more complicated due to the limitations of land and geography.
  • For quick analysis, the real estate sector should be wrapped into effective portfolio management, to figure out the relative constraints and performance context.

The Final Words!

When talking about real estate mobile app development it becomes quite important for you to make sure the app does not just feature ladened but aesthetically interactive and easily navigable. The UI/UX team at Octal IT Solution makes it a point to take care of the look and impact of your application along with its development. With after-delivery support, we promise to help you transform and win the digital journey.

Our android and iOS app developers are technically sound and make it a point to deliver solutions that are ready to survive the test of time. So, if you want to hire a real estate app development company then you are at the right place!

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