The 21st century has become something like a Digital Book, everything around us can be found on the web with a single click. From online Shopping to online purchasing of freshly baked chocolate cake; the internet has given us many things, improving our life as well as ensuring comfortability in every step. Watching the internet’s exponential potential, every primary business including real estate has gone online to gain more revenue, reach more customers, and widen its growth. Using different AI and ML algorithms to enhance the performance of a real estate app to give the customer satisfactory service.
Real estate business is said to be the last adaptor of the online enterprise application initiative. However, its growth was unprecedented and unbelievably rapid. After that most of the real estate industry began to invest in technological advancements to boost their Client experience and capacity of building fruitful trust with their customers.
Nowadays,s most real investment buyers seem to check different types of properties before making a final purchase decision. Doing it manually can cause a great toll for which they are more likely to use an app to evaluate several properties before making the final purchase.
The National Association of Realtors, 2021, noted that
51% of buyers found their home through The internet while 28% percent found them through their real estate agent.
There’s another survey, where it indicates that ” Staged houses sell 25% quicker than non-staged houses.”
Thus, it clearly shows the influence of using applications in the real estate industry is high in revenue yielding. So, it is considerable for your real estate business industries to have made and invested in technological advancements to prosper significantly higher.
The real estate industry is going to be far more prominent and global in the coming days.
The institutional-grade expanded impressively by 55% from $29 trillion in 2012 to a value of $45.3 trillion in 2020.According to PWC real estate 2020
However, there was a 3% fall in the market growth and development because of the pandemic. However, as of 2021, the stats are returning to normal.
Although, according to a recent statement issued by the Business Research Company, where they predicted that
In 2022, the real estate industry will Accumulate a value of $7227.13 billion
Thus, it’s evident that the competition is raging on aggressively as many realtors are adopting new innovative technological advancements to provide their clients with maximum satisfaction. And for this many realtors have Adopted this initiative to stay on top. Providing services to the clients virtually have resulted in innumerable aid to the buyers as they are hurdled inside day-to-day work life. Whether it’s purchasing the house, lending the house for rent, selling property, or even comparing several properties, the utilization of mobile applications has become a single stop for all of these services, and they are becoming very efficient in the life of both buyers and sellers.
Ideas That Can Be Applicable While Building An Application For The Real Estate Industry.
1. Property Listing App
The property listing app idea is one of the most widely acclaimed ideas among the real estate industry to adopt over the years. The primary job of a property listing app is to store the name, status, and quality of the particular owner’s proper tire.
It Helps buyers to look through various properties at once and compare them making the final purchase decision. The more information available on the app, the more it will attract buyers.
The Property Can Be Listed In Three Types:
- Properties are available for rent.
- Property listing for sale and rent.
- Property listing for the only sale.
2. Property Auction App
Auction is one of the traditional mediums to make transparent deals. It is an excellent strategy for real estate businesses to accumulate more wealth and increase sales. The user has to sign up on a particular platform to buy or sell a property to attend the property auction.
Some Of The Renowned Types Of An Online Auctions Are:
- Short sale properties
- Foreclosed properties
- Bank owned properties
- Flipped properties
- Retail properties
3. House Plan Sale App
There are lots of things available on the web. However, a house plan isn’t one of them. Even if it is available, either it isn’t detailed or it has flaws in it. In most cases, one has to hire an architect to make a house plan. So, it will be convenient for both buyer and seller if you decide to build an app only to display various house plans ready to sell. You can either gather those plans from an architect or you can act as a brokerage, adding a feature where the architects can upload their plans by themselves. With every sold plan you can earn commission out of it.
Things That You Can Include In The App
- Different house plans, for couples, families, or even singles.
- Option of filtering various plans by its factors. Such as several rooms, sizes, etc.
4. Property Rental App
Nowadays most people have to keep moving from one place to another for their job. Because of this, there has been extreme growth in the rental business in this era. With a property rental app, you can create a brokerage model for your rental business.
Then, you can start renting your property or you can start an online marketplace where the individual owner of houses can sign up for lending out their property for renting, whenever a deal accomplishes you can get a commission out of it.
5. AR VR Real Estate App
Displaying the property using AR and VR technologies enabled the 360 degrees with panoramic view is an excellent strategy to sell properties. The buyer can have the experience of moving around the house checking the availability of things virtually. Al, so one can see the view outside the house around their locality to better understand it without even having to visit it manually. It saves money and time that people usually waste while searching for the desired property.
6. Interior Design App
By using VR and AR technology, one can display the interior design to a buyer or change the method according to the buyer’s preference. It involves creating floor plans, furniture layout, and Planning the look and taste of space. It also includes the specification of furniture, appliances, and textures and organizing their structure.
7. Locality Review App
For a buyer, a convenient locality is a top priority. Using a property listing app, the buyer can look at the property along with essential factors available in that certain locality. Such as education, hospitals, markets, transportation routes, the main town, and the nearest police station, because security is what everyone wants in their life.
Through these factors available in a listing app, the property can be rated by either ex occupants or current inhabitants for better insight into the property to help them make final purchasing decisions.
8. Property Investment App
A property investment app will give one a complete overview of the property market required to make the best decision about investing in real estate property. A property investment app must include a chat Box and an in-house expert who is experienced and specialized in the real estate app market. He should be able to make clear all the queries, give out solutions to the problems, and give out reliable investment choices. The expert should give out valuable information to an investor about the maximum tire return when they invest in a particular area.
Also, a property investment app offers a detailed assessment of property On a small screen. You just need to tap into the small screen to receive all the comprehensive information on the property. This information may include price trending in specific markets, The property’s mortgage value in the locality, etc.
Thus, this comprehensive assessment will give users a complete insight into the property to make the appropriate decision to invest.
9. Repair Estimate App
Purchasing a property may come with additional expenditures like repairs, making the process slow as it is hard to come up with expense estimates in a meeting only. An efficient app can reduce this period which can be coordinated to increasingly profitable procedures.
A repair Estimate App notes down all the information about the repairs that have to be done and gives clients an estimation for the equivalent.
10. Mortgage Calculator
Most of the property sales come with mortgages, which slows the whole process with the complex calculation of mortgages. To avoid wasting time, you must have a mortgage calculator app for loan lending. It can give you an idea about how much the client has to pay as per different parameters.
11. Construction Estimator App
While building infrastructure, the builders need to estimate how much materials they would require to build the project. These estimated ideas consist of many complex calculations. But, using AI and ML, you can build an app where the AI does all the estimation for the builder in a second, saving him time and minimizing the error humans tend to make.
Using an AI to make the estimation can also assist the builder with low wastage of materials.
12. Construction Management App
A large sum of money is put into a construction project. With a large amount of money, it becomes necessary for the efficient management of the project construction. The investors need to ensure that the builders are executing all the management operations coherently.
One way to track the management activities is to develop a construction management app, where the investor appointed engineer can keep a tab on the commencement of the project, ensuring the high quality of the job, develop plans, make a decision based on daily reports, fix errors and manage the operation smoothly.
Features Of A Construction Management App Are Mentioned Below
- Track workers’ attendance and assign them their daily tasks for smooth operation
- Generate daily working reports
- Manage important documents
13. Contractor Finders App
While commencing a real estate app project, there’s some difficulty while searching for a good contractor. We usually get the contractor, but we aren’t sure about how genuine his work will be. Thus, keeping that in mind, you can build a contractor Finders App where contractors with different skills can sign up for it, giving all the credentials and expertise.
In that app, you can also put on a customer review option, which will enable the customer to put in ratings on the contractor, which will indicate his quality of work. So, next time someone is searching for a contractor, they can quickly look at his profile at the app and hire them according to their need and see the prior customer service he has rendered.
14. Interior Design Mobile App
It’s like a dream of most people to decorate the house’s interior according to their taste, but due to the lack of subtlety, only a few can achieve that. However, nowadays, with technology, everything seems possible. You can build an interior design mobile apps using Artificial Intelligence and Augmented Reality to give out buyers to design their own houses.
In that app, you can ask for various designers to upload their model of different interior designs; you can also use some 3D photographs of furniture and accessories that would allow the buyers to choose from certain designs, and then they can easily lay down all the necessary details that they want to have in their house. Using AI would be convenient to see how much space the flower vase would take or where the placement of the carpet would look great. And by using Augmented Reality, the buyer would be able to go through each corner of the house with the aid of a panoramic view. It would be convenient for the buyer to design their own home, and it can be a revolutionary idea for the real estate app development industry to boost their clients and services.
Also Read: How To Develop A Mobile App
Trending Technologies In Real Estate
1. Virtual Reality
Virtual Reality is a groundbreaking innovation in the digital world; it has been applied in video games and entertainment, and many more. But, nowadays, most realtors add virtual reality in their domain to give the buyer a detailed, navigational walkthrough of the design and interior of the house. One could even walk out of the house virtually and look at the locality with the help of 3D viewing.
The traditional method of checking a house was to go through every property via Physical visit; however, after the introduction of VR, it has become beneficial for both customer and realtor as it saves time and expenses involved in traditional methods. Going through virtual tours of the house gives the buyer insight into the property at a whim, and they can go through several properties and decide what is worth visiting in person.
2. Augmented Reality
Usage of Augmented reality is gaining immense popularity among many renowned industries. When thinking about industries that use AR, the first thing that pops into our head is the real estate app. However, It’s hard to deny that using AI changes the convenience of selling and buying a property remarkably. It can expand the marketing strategies of realtors and provide a detailed insight to the buyer about the property they wish to purchase.
The most common inconvenience that a realtor has to face is the amount of time they spent while visiting sites with buyers physically. But, after the adaptation of VR technology in the real estate app business, it has become a beneficial way to save both time and money as they can give customers a gripping experience by using AR.
To change the staging of the house for each client can be utterly tiresome and time-consuming. However, using AR, the realtor can change the design according to the client looking for the property. Be it, bachelor, a married couple, or a person looking for a place to make it into office. Changing the buyer’s perception by changing a simple AR view makes it achievable to satisfy all the customers. This pre representation of the property can help narrow down options and make it easier to make the final deal without any unnecessary distraction caused by nonsuitable properties.
3. Artificial Intelligence
The impact of Artificial Intelligence is growing rapidly in various fields. From self-driving cars to Robots used in large-scale industries. Even Real Estate app ideas aren’t last on the line to adopt AI to enhance their industry, providing customers with qualitative services.
When it comes to the Real Estate app, all the agent knows is that the number of clients he would get, only a half of them would be potential buyers. Going through every client to search for a potential customer can be time-consuming and tiresome. However, instead of going through the client one by one the Deep learning in artificial intelligence can qualify leads accordingly. It’s also helpful for a buyer to go through property listing; the customer can filter the listing according to their need, such as the number of rooms, bathroom, location, etc.
It’s also making property valuation easy by accumulating data about different factors to assess property or rental values. It compiles the data about public records, transportation options, area crime rate, school district rankings to generate analysis on a particular property value, which can significantly influence decision-making about what other things the realtor can provide to the buyer.
BlockChain is one of the latest adopted technical advancements by the Commercial Real Estate industry. The real estate app ideas executive is finding the potential of using BlockChain based contracts can play a much more significant role in their industry. Blockchain technology can potentially improve the core real estate unique app ideas strategy such as property transactions like investment, sale, financing, leasing, and management transactions.
BlockChain enables realtors to have more transparency, less risk, and streamlined processes. There are several ways how BlockChain app development technology can create opportunities while solving some of the existing challenges.
Buying land has always been a profitable deal for us, securing a good return on our investment. Just like buying land on Earth has been profitable, it’s now high time for buying land in Metaverse. Being the owner of land in the metaverse will help you leverage the same benefit of real life in a virtual manner. Some benefits can be gaming, trading, partying, and meeting.
A Few Of The Benefits Of Using Blockchain Technology In Real Estate Is Stated Below
- Enhance property search procedure.
- Stimulate the process of pre-lease Steadily.
- Ease leasing, the following property, and cash flow management.
- Facilitate smarter decision-making.
- Facilitate more efficient processing of financing and payments.
5. Big Data
Traditionally, the real estate business have made their decision based on personal experience and Historical trends. Nowadays, extensive data analysis makes it convenient for the real estate business app to get accurate data in real-time. This has been empowering the real estate industry, investors, and developers to have a clear insight into top opportunities and detailed risk estimation.
In the old-time, the real estate app business would profile the entire locality homogeneously. But, big data has provided the key to classify between city blocks based on various factors. Such as crime Rates to price appreciation, zoning codes, and future infrastructure projects.
There are other aspects too where big data is helping out the real estate business app development to make decisions based on data points from various sources. They can be social media, search engines, and other nontraditional sources. Many industries are manipulating big data to make predictive analyses and algorithm models which reflect Future buying, living, and investment trends.
Also Read : Tech Stack Required For App development
We cannot deny that technology is a grace of human intelligence that is making a continuous contribution to making our life convenient from every aspect. These innovations have surrounded us as they kept making the world smaller.
Industries have accumulated a great growth in numbers. It has turned the whole tiresome procedure of buying and selling properties with real estate app ideas.
Have you ever wondered how much it would cost to develop an app for iOS or Android?
The population is growing fast, which is a factor causing a great demand for real estate app development across the globe. The technology increasing rapidly among real estate businesses is making it a prominent and ultimate business nowadays. There’s a quote, ” Changes call for innovation, and innovation leads to progress.” Well, amassing all the facts and data, we can see the progress that the real estate business has been accumulating as it grows rapidly into a successful business.