Technological advancements in the real estate industry are reshaping how businesses work and operate. Enterprises are facing tough competition from digitally-advanced brands. Dynamic customer demands are adding up to make the challenge tougher. Statistics show that 97% of the customers have chosen online modes to buy or rent a house in the past years. Of these, 76% of the customers used mobile or tablet.
That’s not just about it.
Businesses are also using advanced technologies to upgrade their legacy systems and make them more efficient. They open new avenues with better lead generation, faster conversion, and personalized user experiences. The combination drives them to improve the company’s bottom line and helps stakeholders plan for higher sales.
The benefits mentioned above, besides many others, have encouraged businesses to invest in real estate app development services. However, with so many companies launching their real estate applications, you need a great factor to be successful. The right set of features helps you achieve that.
Let’s talk about some of these features here. Scroll down.
Mobile real estate apps put a massive database of houses, apartments, and commercial buildings in the palm of your hand
Real Estate App Development- Top 8 Features to Consider
1. Virtual Property Tours
Statistics have shown that:
- Customers aged between 18 and 34 are more likely to book a place if there is a virtual tour
- 50% of the consumers rely on virtual tours to make purchase decisions
- Customers are 5 to 10 times more likely to buy from you if you offer virtual tours
- 67% of the customers want real estate businesses to provide virtual tours
- Virtual tours boost business listings’ interest by two-fold
Real estate virtual tour software is powered by AR/ VR technology and offer an incredible experience to property buyers. Not only this, it helps businesses boost the chances of conversion and offer a more exotic experience to the customers. A virtual property tour feature in your application lets customers view the preferred properties round-the-clock from the comfort of their homes. This ease can go a long way to help you enhance the customer experience and accelerate the sales process.
2. In-built CRM
CRM is integral to an organization’s success. CRM helps realtors to manage their leads and customers more effectively. Reports have shown that:
- 79% of business buyers say it’s crucial to interact with a salesperson they deem a trusted advisor when making a purchase.
- 74% of companies say that converting leads into their customers is their top priority.
- 74% of respondents say that CRM solutions give them better access to customer data, allowing for more personalized service.
- 65% of businesses adopt CRM technology within the first five years of launch.
Real estate CRM solutions in your real estate application help agents interact better with leads and understand the trends among them. They can spot patterns that indicate buying behavior and strategize better to augment the sales process. Agents can update data in real-time and access it across geographies. It also helps your business eliminate lead leakage and automate the lead filtering processes.
3. User Profiles
In-depth user profiles help agents know about their customer preferences better. Allow your consumers and agents to have a detailed profile that gives insights into their buying preferences, location, preferred location, budget, etc.
A detailed agent profile should include:
- Agent Name
- Contact information
- Agent location
- Number of properties sold
- Expertise
- Feedback from customers
A customer’s detailed profile should include:
- Name
- The property they are looking for
- Preferred location
- Budget
4. In-app Navigation Support
Inbuilt navigation support helps consumers reach the property location more conveniently. They can even browse through the nearby areas to see if the property aligns with their requirements or not. The navigation feature also helps agents and realtors to reach specific locations and identify the best route to the corresponding site. They can even create custom visualizations of the area to help customers understand the properties and routes. You may also consider including functionalities like voice-guided turn-by-turn navigation, saving frequently visited locations, saving routes for offline visits, etc.
5. Document Management
Real estate documents are critical. There are property documents, tenant documents, and many more sensitive data. That’s not it. Businesses must keep a tab on their accounting and cash flow data to make informed decisions. Manually maintaining the data can be a resource and time-intensive task. It also puts data at a security risk.
Some of the things to keep in mind while developing document management features during real estate app development include:
- Data security because even the smallest breach can cost you a lot in terms of financial resources and reputation
- Regulatory compliance should be followed to avoid legal issues
- Format conversion ensures users can convert the files from PDF to word and vice versa.
- Make sure to include sharing options to make it easier for the app users to share documents.
- eSignature options can also be included for signing formal agreements.
6. Listings and Directory
What is real estate software without property listings and directories? The listing and directory feature combines multiple functionalities to handle real estate processes and data management. It allows real-time information about the properties, current leads and their stage in the sales funnel, the cost of properties, etc. Other important aspects to include during real estate app development include:
- Financial features to ensure better finance monitoring and organization.
- Better features to make property selling, management, and renting more efficient and easier to implement for the sellers, buyers, tenants, property owners, and agents.
- Contract and document verification to ensure authenticity
- Simpler accounting options
- Automated notifications about rent dues, balances, etc.
- Quick information access across devices and platforms.
- Security of sensitive information and documents.
7. Analytics
85% of marketers believe that analytics play a huge role in the decision-making process. Powered by technologies like AI and IoT, analytics help real estate businesses to know about the current trends and patterns in the market. They can gain deeper insights into customer behavior and strike chords to create result-driven marketing strategies. Here’s what considering analytics during real estate app development entails:
- Wider market analytics to ensure your business stays on top of the competition with targeted strategies based on your market.
- Accurate property evaluations to ensure better sales and revenue
- Easier home prospecting, marketing, and sales
- Data-driven analytics also helps to mitigate risks and plan insurance to eliminate business loss.
8. Mortgage and Interest Calculator
This feature is tailored to offer convenience to the buyers. They can quickly get information about the monthly EMI for the house loans and calculate the interest with fixed terms and monthly payments. It can also help them know about the taxes and insurance associated with the property for users to plan better. Customers can also connect with authorized vendors to inquire about home loans and have better chances of financial management.
Also Read- Top Custom AI Real Estate Solutions that Every Business Must Have in 2023 and Beyond
Wondering What Would Work Best for Your Real Estate Business?
Get in touch with the experts at Matellio.
With years of experience, Matellio is a pioneer in building cutting-edge real estate solutions. Our technology experts are certified in the field and share our vision of ensuring the highest client satisfaction. Right from the stage of business consulting for requirement gathering to mapping them to the final deliverables, we have experts for the smooth digital transformation of your real estate business. Our portfolio includes a unique set of real estate clients leveraging top-notch software solutions for marketing, product listing, consumer management and interaction, and more.
- Rich Real Estate Portfolio
- Delve into the projects delivered by us in the real estate sector that speak volumes about the quality we provide.
- Robust Data Security
- Whether you want to secure vital company information or safeguard your consumers against fraud, we have the right security tools to help you!
- Seamless Data Integration
- Manage all the information of your real estate business and access it securely in a few clicks.
And a lot of other value-added real estate app development services. Reach out to our team to start your journey and learn about real estate app development cost!
