The real estate industry is not like it was five years ago when businesses were competing manually to connect and retain customers. Now, the competition has gone online, and real-estate brands are competing using the latest tech & trends.
If you are also one of them, implementing innovative app ideas is the best way to tackle the competitors. This blog will help you decide what app idea suits your business needs.
Let’s start with a simple example; later, we will dive deep together into this blog.
Searches for affordable housing have grown more than 60% every year globally, and do not be surprised to know 80% of the searches are from mobile apps. The real estate industry’s practices have been changed due to the influence of technology.
Technology trends such as virtual reality home tours, AI-driven insights, Building Management Systems, and others have transformed the real-estate sector completely. Multiple real estate mobile apps in the market compete with each other’s.
If you want to stay ahead of the curve with your real estate business, then investing in modern mobile apps is worth it.
Do you know how you can do it?
The best idea is to go with the latest trends. This blog will help you to decide on one of the 10- innovative app ideas for your real-estate business.
Instead of taking you deep into this blog, first I want to share some market stats first. So, let’s proceed.
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Market Stats: Real Estate Industry
- As per US Census Bureau, real estate, rental, and leasing revenue in the USA will be $789.4 billion by 2024 due to adopting the latest technology and trends.
- The real estate market is growing with a CAGR of 13.2%, and it will continue over the next five years.
- From the global market perspective, the real estate market of the Asia-Pacific region is dynamically growing.
- The key technology service providers to the real estate industry are- IBM Corporation, SAP SE, Oracle Corporation, Salesforce.com Inc., and Sage Group plc.
- The real estate app market is expected to reach $7.5 billion by 2026 at a CAGR (2021-2026) of 2.9%.
- By 2030, the global real estate market will be USD 4.50 Trillion.
These stats indicate that competition is getting more challenging every day. Here technology can help realtors to stand out from the crowd. Some have already adopted it, and some are in the process. If you are a real estate professional, it is worth transforming your idea into an app based on the latest tech and trends. So, continue with this blog to know more about it.
Top-15 Real Estate App Ideas for Realtors In 2023
The year 2023 came with multiple opportunities for realtors as the demand for housing rapidly increased. Because of the infra evolution, there are multiple options available for people, but they can find them in one place.
Here you can grab the opportunity via a real estate app development based on innovative ideas providing a desired solution.
Let’s dive deep into the list of innovative app ideas that realtors can choose to have great business ahead.
1. Property Information App
Have you heard about apps like Regrid or LandGlide? If not, then these are some of the best examples of property information apps. These types of apps help users to get the property details with ease.
Property information apps are also known as property line and parcel data apps that work on desktop and mobile devices. To acquire the details of the property, you only need to hover over the map. The property information app displays the details like a property owner, acreage, address, sales price, and more.
2. Property Investment App
There are multiple customers who are used to investing in property, and the property investment app is the perfect option for them where they can make a fine decision about investing in real estate.
It comes with a chat box connected to specialists. If you want to develop it for business, then you can also include an AI chatbot that can help you to save time for your customer support team. The prime advantage of real-estate investment apps like Roofstock, Arrived Homes, Fundraise, and others is having reliable investment choices.
3. Property Listing App
It is one of the most popular ideas of real estate mobile app development. These types of apps help property owners to list their property to sell or give on the rent. It may surprise you to know that more than 90% of people search for the desired property on the listing apps.
Additionally, a realtor can earn with this app idea via commissions or listing fees. If you are a realtor, then with the help of top mobile app development companies, you can transform it into a modern real-estate marketplace where you can earn from each deal done by the property owners and customers.
4. Property Auction App
There is the oldest history of manual property auction, but technology made it possible to auction the property online. Property. Property auction apps like Xome work as an online bidding platform where users can register and bid for the property or list their property for auctioning it.
It is also one of the best ideas to start a real-estate business where you can earn a good commission. The crucial benefit of a property auction app is it makes auctioning easy for property owners and buyers.
5. House Plan Sale App
Most landowners hire architects to develop a house plan. What if you offer a pre-built house plan at an affordable cost that users can purchase, customize, and build their house? It is one of the innovative app ideas for real–estate professionals to start a business with.
Here you can earn good revenue via selling from a wide range of house plans. You can earn in two ways one is by selling, and the other is by taking a fee from architects on each upload of their house plan for sale.
Read more: Why App Development Outsourcing is a Brilliant Idea for Your Business?
6. Property Rental App
Not everyone can afford to purchase a house due to personal or professional reasons, so to help them with a property rental app is such a fantastic idea. You can address the problems of millions who search for houses to rent and also help the property owners who want to earn via renting their properties.
With the rental app, you will earn from the property listing and from the fee that a user will pay to use the app. In simplistic terms, it works on the brokerage business model. If you are a broker and want to expand your services, then having a real-estate rental app for business is beneficial.
7. AR VR Real Estate App
AR-VR technology is rapidly conquering the market and offering solutions to different industries, and the real estate industry is one of them. As per Goldman Sachs, the market of VR in real estate will be at $2.6 billion by 2025.
The AR-VR helps in showcasing the property in a virtual environment where a customer visits the property with a virtual device instead of an on-location visit. The AR-VR real estate apps remain cost and time effective in all terms.
Apps like Vera and Magic Plan are the best examples of it. It is one of the potential app ideas for real estate professionals to earn and grow their businesses.
8. Interior Design App
You can consider the interior design industry to be a close relative of the real estate industry. It is one of the beneficial app ideas that you can offer alone or can include in your next real-estate app, including other functionalities/features.
Using the app, you can offer a complete range of interior designing services to your customers, i.e., from floor planning to rooftop designing and from furniture layout to space designing for appliances.
9. Locality Review App
Whenever a person goes to buy or rent a property, they also look for the locality. But sometimes, manually, it becomes tough to know more info about the locality, so here an app can help the customers to have all the relevant information.
The residents can also use this app to provide their reviews about a particular locality based on factors such as education facility, health facility, distance from the main market, and more. With these apps, you can offer a service to find the perfect property in the desired locality.
10. Repair Estimate App
Repairing is one of the possibilities if a customer does not want to change the whole structure of a property that they are going to buy, or it may also be possible that the house is on rent and may require a repair.
Manually it may be confusing to make an estimate of repairs, and it takes too much time as well, so an app can help here. You can offer an app that helps the customer to estimate the repairs and get the repairing services from the experts. However, the idea is closely related to the handyman app development, but it will be developed solely for real-estate purposes.
11. Mortgage Calculator
The mortgage calculator apps solve issues a person faces while deciding about buying a property on loan. It shows a nearby estimate based on the principal amount, interest, and loan terms.
It can also be a loan calculator. The best thing is you can launch this app alone or can use it as an additional part of your existing real-estate app.
12. Construction Estimator App
These types of apps are very beneficial for contractors, construction firms, service companies, and persons having house repairing businesses. It helps them to create on-site estimates of how it will take to construct the desired area.
From the customers’ point of view, it is also beneficial when they can have an estimate by entering some key details. You can also associate a chatbot here that can assist the customers in calculating a fair estimate.
13. Construction Management App
Although a construction firm has all the resources, in the absence of work management, things can be worse. The app can help construction professionals to schedule and manage work in real life.
Using the app, they can manage resource allocation, budgeting, collaboration, communication, human resources handling, and more. Overall it helps in keeping track of all construction-related management activities.
14. Contractor Finders App
It is a simple mobile app that reduces the complexity of finding a suitable contractor for work like repairing, plumbing, sanitation, electrical work, landscaping, air-conditioning, and more. An end user can search for the services using location search filters, work experience, price range, etc.
If you are interested in developing a contractor finder app, then you can also include additional functionalities such as in-app communication, payment modes, and appointment booking. It will take the user experience to the next level.
15. Document Library App
Renting or buying a property requires multiple documentation, and it takes time for all, such as the property owner, customer, and broker.
So, the best solution is to use a document library app, whereas a professional can keep all document formats in a single place and share them with both parties. It will save a lot of time of all.
Read more: How to Develop a Real Estate App : Cost Estimation and Key Features
Trending Technologies in Real Estate Industry
The real estate industry is evolving fast with the help of technologies, and there is ample space for the latest tech-based solution. There are some technologies that are helping in reshaping the industry and catering to the demands of customers. Let’s take a look at trending technologies.
· Big Data
It is okay that you have an app, but there will be tons of data transactions taking place, so do you have ever thought about what you can do to manage the data effectively? The best option is to incorporate Big Data technology with existing processes.
It will help you to analyze the data fast and smoothly; later, you can use it for the personalization of services for the best user experience.
· Artificial Intelligence
Artificial Intelligence is one of the most sensational technologies, and in combination with machine learning, it makes software or app smart. With AI, you can track and study the customers’ behavior and offer personalized suggestions based on the user’s search pattern.
Using Ai, realtors can develop personalized assistants or can develop smart customer support chatbots for customers.
Smart Home is a reality now, and households are rapidly adopting it. Soon we will see more progress in it. The technology behind the smart home concept is the Internet of Things which connects all devices in a common network and makes them communicate in technical terms.
If you are a property developer or a construction firm, then you can leverage IoT for site management and maintenance, the safety of workers & machinery, and more.
If you have gone through an app like Ikea, then you can easily understand how AR-VR can help in the real–estate business. You can let your clients virtually visit the property in their comfort. It will save time for the property owner and customers as there is no need to commute from one point to another only to visit the property.
Blockchain is the most secure technology for storing data and information. Including other industries, it is suitable for also. The distributed ledger helps in containing property titles, smart contracts, and more. Its benefits are reduced transaction costs, secure information sharing, automated payments, and more.
Advantages of Real Estate Apps
The latest technologies and trends have fueled the whole real-estate industry. Technology brought it to a digital platform that is advantageous in two ways – realtors are using it for business, and end-users are using it to find their perfect home for buying or renting.
Are you a real estate professional wondering how a real estate app can help you? Then you would be surprised to know that there are multiple tangible benefits that you can experience with the latest tech-based real-estate app.
Let’s go through the benefits of real estate apps!
· Direct Communication & Connection with Customers
Direct communication with customers is beneficial in all ways. It helps in maintaining good relations, direct promotion, improving brand image, and addressing the queries of customers in real time. For real estate professionals, an innovative app is a better option.
· High Customer Retention
A mobile app helps in handling new customers and also to the existing customers. Instead of setting up an additional arrangement to address the queries of existing customers, you can help with the help of a single app by offering personalized solutions. Additionally, you can stay connected with your clients via using in-app messaging, chat, and call facilities.
· Easy Showcasing of Services
With the help of a real estate app, you can showcase your services and details in an easy way where customers will find it smooth to find what they want. They can search for the desired services via categories, filters, and direct search instead of searching here and there.
You can also categorize property deals as per price range so the customers would love to find them in no time as per their desired budget.
· Improved Reach to The Customers
Most customers used to search on mobile apps for buying or taking property on rent. If you have an app that eases property searching, then there are more chances of customer onboarding. An innovative real estate app for real estate professionals improves the chances of high reach to customers.
· Data Collection
A real estate app can help you to collect the data of visitors so later you can use it to make a strategy to convert them into customers. Including the personal details, you can also collect the key details like for which service a particular searched on your app, what are their requirements, etc.
· Task Automation
You can automate crucial tasks using real estate mobile applications. Not only the realtors but customers also leverage it such as for their queries; they do not need to fill in their details multiple times. On the other hand, realtors do not need to create the information of property multiple times. The agents can schedule appointments, visits, and more.
Now, without do not let you wait longer, let me take you to the innovative app ideas that you can adopt for anyone of it to have a unique real estate app for business.
The upcoming time for the real industry is a game changer, and credit goes to innovative app ideas and the latest tech. With the evolution of technology, realtors are leveraging it for better customer experience and engagement.
As a realtor, you can have great growth by implementing an innovative app idea. On the other hand, the latest trends are transforming traditional practices into digital ones.
If you are a real estate professional and want to take your business onto a new horizon, then you can partner with an experienced mobile app development company like Arka Softwares. The experts will help you to implement the idea with customization as a real estate app. It will be the best way to reap the benefits of the latest tech for business.