Factors such as historically low mortgage rates, unstable economic conditions, and migrations drive increasing demand for real estate applications. This rush also generates a very competitive market for real estate applications and real estate app developers. Thus, to take the lead, you must act quickly to determine your market fit.
As a product manager, we have firsthand experience with the challenge of determining if a real estate app is a good match for the market. With my team, we have developed many real estate applications and reached several milestones before releasing lucrative software for the Dubai industry. We want to share some important lessons we learned from these experiences with you.
Let’s get started and discover what it takes to develop a solution that is in demand to address real estate issues!
Definition and Types of Mobile Apps for Real Estate
First, let’s define our terms as they relate to real estate applications. The good news is that you are not limited to using just one kind of software solution. Take note of the many participants in the real estate market: buyers, sellers, agents, and tenants. As a result, your real estate software may assist various users or portions of the process in solving issues. Let’s examine a few of them.
- Rental/Home Search Apps
When you think of real estate applications, this one most likely comes to mind first. This property listing enables you to search for lodging using certain criteria, such as location, city, area, etc. Multiple listing services, or MLS, must work closely with listing-based applications. These are databases of lodging options that are now offered for sale.
- Apps for Real Estate Agents
These applications are tools that brokers and real estate agents use to provide their services. These might include property administration, paperwork, virtual 3D tours of the flat, and communication between the agents and their customers. Such software may greatly aid in streamlining procedures and cutting down on paperwork.
Examples include Yaza, Trafft, Quickbooks, and Calendly.
- Software for Investing in Real Estate
Investing in real estate is a desired specialization. Investors and agents are very demanding solutions that enable possible monitoring of purchases. However, there is one need for these apps: they must be very adaptable.
Examples are ArrivedHomes, EquityMultiple, and DiversyFund.
Features That a Real Estate Mobile MVP Must Have
A minimum viable product, or MVP. It indicates that this product is created with the least amount of time and effort, and with the fewest number of features possible. However, the term “viable” refers to a product’s ability to fulfill the essential functions of the app and enable early adopters to reach their objectives. When it comes to a real estate app, these have to be basic functions that let consumers locate suitable lodging.
With some samples from the Nomad case of our client, here are the aspects that you could want to include on your real estate app:
- Lookup Tables
Utilizing a search engine is the first action one does on a real estate app.
To make the search more interesting and efficient, it is preferable to make sure the engine contains organized filters in addition to just being an engine. For mobile users who use the app while on the go (in lines, cabs, transportation, etc.), this is very crucial.
You may use filters like these:
- Whereabouts
- Type of property: Cost
- The year of building
- Features of mobile homes in the neighborhood
- Integration of Maps
A mobile real estate app would be impossible to envision without a map. Fortunately, providing it is not difficult. You don’t need to create your map solution. Alternatively, you may include a ready-made map solution from outside vendors like Mapbox or Google Maps. See the post-Mapbox vs. Google Maps: Choices for Map Providers for further information. The Best Maps API for your App?
Expert’s Tip: It might be difficult to include a map in a mobile real estate application. The issue is that a mobile device’s screen is much smaller than that of a PC. Therefore, you need to ensure that the map does not blur when the user zooms in on it on their phone. Additionally, confirm that you have budgeted for your expenses (since the map API may get a lot of queries).
- Admin Panel
The administration panel is another component that has to be in your MVP. The panel establishes who has the authority to add or delete listings, oversee the homes that are posted, and get feedback from prospective tenants. For developers, there is good news; you don’t have to start from scratch when creating an administrator panel. Alternatively, you may modify the design, integrate an already-existing solution, and tailor it to your requirements.
- Conversation Solution
Having quick communication is also crucial while looking for housing. Your consumer will probably communicate with a realtor via chat rather than via phone. Making a call complicates the process of locating the real estate asset. Therefore, a chat function is something else that your real estate app should include.
- Examine the Reservation
Enabling consumers to access the online time slots for apartment reviews would also greatly simplify their lives. Doing away with the need to give a call, would greatly improve the likelihood that a user would schedule an appointment.
- Signing up
Adding registration to your software is a fantastic method to personalize it. Users who register may be able to store their search parameters or add their favorite products to a “Favorites” box.
It turns out that introducing the registration function is not as difficult as it appears. You don’t need to construct it from the ground up. Alternatively, you may utilize their contact information, social media profiles (Facebook, Instagram, or Google Account), or email addresses.
Conclusion
The development of mobile apps for real estate is a competitive market. Zillow and Trulia were the leaders of this rivalry and established the ground rules for other players. That doesn’t mean you shouldn’t attempt to compete in this race, however. Determine your specialty, market, and audience, then offer that specific set of individuals your answer. You can create a new startup right here!
Get in touch with us for further recommendations on how to put your concept into practice! We are always excited to discuss fresh concepts!
