Strategy for Effective Real Estate Mobile App Development

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If you are thinking of launching a mobile
application for your real estate business, then
this is the right time. Based on a study by
ComScore, on an average, people are spending 60
to 90 of their digital time on mobile
applications. Of the total time, 90 time is
spent on mobile apps and 10 on browser based web
apps. Over 50 search time is spent on
researching real estate and banking services and
the results are major influencers in the decision
making process.
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A mobile application gives the buyer/seller to
assess the market, view the properties at their
pace, get an accurate idea of what they need and
then approach a realtor, enabling them to take
informed decision. From the realtors
perspective, they have clients who know the
market and can give them an accurate idea of what
they need. Furthermore, mobile applications have
the power to reach the customer directly and
provide the most direct marketing channel. They
do more than that, they generate brand loyalty
and recall based on the usability features. As
per Googles Search Insight, mobile research
begins with search engine followed by branded
websites and mobile apps.
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• Real Estate in the Digital Age
• As per a NAR report, in 2016, 44 buyer first
  looked online for properties and many use apps
  that enable them to search properties by location
  and neighbourhoods. While buyers still consult
  with a real estate agent when making a purchase,
  the search begins online.
• They educate themselves and understand the market
  condition before approaching a realtor. Apart
  from the customer point of view, a mobile app is
  also useful for internal administrative
  activities and much more. Many real estate agents
  are being contacted first time via a mobile
  application listing.
• The Home Buyers Quest in the Mobile Age
• A home buyer first starts searching for listed
  properties online on websites. They check out
  properties on the basis of their images,
  listings, information on home buying process.etc.
  Based on their search results, they then approach
  real estate agents, banks for mortgage and spoke
  to friends or relatives about making the
  purchase.
• As per NAR Home Buyer and Seller Trends Report
  for 2017, 13 buyers looked online for
  information on home buying process and their
  information sources can be broke up as

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• 95 visited online website
• 72 used mobile or web application
• 36 used online video site
• 92 spoke to real estate agent
• 99 millennial search websites
• 58 of all buyers found their home on a mobile
  device
• Stepping into the mobile space
• The numbers and trends amplify the necessity to
  create a web presence and the need to be visible
  on mobile devices, via web or mobile
  applications. The viability of a mobile
  application for the real estate business lies in
  the features of the application.
• Buyers look for listed properties featuring
  photos, a detailed description of the property,
  neighbourhood information, and interactive maps.
  A virtual tour is viewed by a majority of the
  visitors, irrespective of the generation they
  belong to.

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• However, it is not adequate to just take the
  plunge and develop an app one must first assess
  the problem it will address. As per NAR home
  buyer and seller generational trends report,
  2017, finding the right property is ranked the
  most difficult step in the home buying process.
• The next challenge is to comprehend the
  paperwork. If your app can address these two
  aspects fully, then you have created a product
  that has everything it takes to succeed.
• Customer-centric features
• To make a mobile app comprehensive for a home
  buyer, these are the following features that it
  must have
• Extensive search options with filters
• Search option should include the type of house
  (bungalow, condo, or apartment), number of rooms,
  locality, price range, proximity options (to
  schools, place of worship, shopping area,
  hospitals etc.). Adding the option to save search
  preferences will give the user a personalized
  experience which is the benefit of a mobile app.

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• Multimedia
• Adding photos and videos is a primary requisite
  as it makes it easier for the buyer to make a
  shortlist. The presentation of the property will
  influence the buyers purchase decision to a
  great extent.
• Social Media Integration and other contact
  options
• Social media integration is an essential aspect
  of most apps it gives the user freedom to share
  the information with friends, family or anyone
  who matters. Also, it gives a great space for
  indirect marketing as buyers will promote the
  business on their social media page.
• A common trend is to give the user option to log
  into the application using their email address or
  social networking credentials on Facebook or
  Twitter. The buyer must be given security options
  to keep their contact details private.
• Push notifications
• Push notification feature will allow the realtor
  opportunity to promote new listings, discounts
  and other offers. These notifications will
  directly reach the customer via their mobile
  phone, even if they do not open the app. It is a
  more cost effective advertising medium than
  newspaper or TV commercials.

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• Maps and Beacon Integration
• The map integration will provide a user the
  convenience to find the property and use their
  GPS to reach the new property without having to
  search the location.
• With an integration of beacon tracking feature, a
  user can be given guided tour of property at open
  house and also when the business is participating
  in an exhibition or organizing one, they can
  guide the app user to their stall and announce
  the offers for the day.
• Mortgage Calculator and Market Overview
• New buyers would like to know if it is a buyers
  market and judge the timing through some personal
  research before they approach a realtor. Blogs,
  news updates and forecast will help them trust
  the realtors brand.
• A mortgage calculator tool built into the
  application will help them calculate the
  effective cost immediately as they browse the
  property. These are essential decision-making
  tools.

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• Mobile app development investment
• A mobile application will be an expensive
  investment when viewed from short term
  perspective. Once the app is designed, it has to
  be released on Android and iOS (the two most
  popular platforms) platforms and thereafter the
  app has to be maintained so it stays updated in
  the face of OS and security updates.
• Dedicated resource persons will have to be hired
  to keep the application updated and functioning
  smoothly. Furthermore, the popular app stores
  will present immense competition, especially from
  giants like realtor.com, Zillow and Trulia.
• In the long term, the application will pay for
  itself as it will pick popularity and the
  business works a strategy around the application.
  A
• small or mid-size real estate company can
  commence on their digitization journey through
  optimizing their website to be mobile friendly
  before taking the plunge to become a full-fledged
  mobile application. Also, there is a cost
  effective option of creating a hybrid mobile
  application where one app is developed for all
  platforms.

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• Finally, the mobile app will provide a gateway
  and a calling card that will facilitate
  interaction with home buyer or seller. To learn
  about the client and to understand their
  preferences, a first person interaction is
  essential.
• Also, it is important to gain their trust and
  this can be done by presenting ones market
  knowledge and ability to match buyer and seller
  needs.
• The mobile application will be the aid that a
  realtor can use to communicate their
  understanding of their clients needs. To tap on
  the growing market of mid-age and millennial,
  therefore, it is essential to have an effective
  mobile strategy in place.