App Development For Property Sales: A Complete Guide To Grow Your Real-Estate Business

None can deny the necessity of mobile apps in our lives. While no business sector has remained aloof from the rage of mobile app development, it is on-demand services, food and retail, and core industry like real-estate which got more share of the pie. Yes, it’s also the retail property businesses that got more benefits in sales after the app revolution and saw their revenue growing high. In regards to this, here is a complete guide on how to make your own real-estate dealings mobile with a useful app.

Trends observed in property purchases

-Most buyers first sneak through the web or online portals to search for property searches before going for other sources like paper advertisements, referrals, etc.

-Millennials rely more on online search for nitty-gritty details or information about a property

-People like to hunt for properties online because they can see a large number of properties.

Types of Real-estate app solutions

-Online property search application

-Property booking solution

-App solution for renting apartments

-Property management solution for owners

While these are the specific apps that can help real-estate business owners as well as buyers, let’s take a look at the key features that an app meant to help rent and property seekers should have.

Direct marketing method

The app should have a direct approach to marketing to promote the properties held by the property owner. The app would list the properties in a fancy manner with location, prices, property aspects, surrounding amenities, landmark, and other related information. In short, the app should be able to showcase all properties in a complacent and clarified manner so that buyers can know every minute thing about a property and can take the decision to choose one smoothly.

Support for location-tracking

Mobile users have been so used to the aspect of GPS or Global Positioning System to navigate here and here that you need to sync your real-estate mobile app to the Google Map to help the property seekers. Integrating the app with geolocation will readily help the buyers to land on the phone’s Google map to know the exact route and convenient mode of transport to the property’s location.

Easy-to-use user interface

You need to keep in mind that a real-estate application is not about showing brilliance and classy design, but is about user-friendliness. Thus, like any other user-centric applications such as eCommerce, online cab services booking, your app should be user-friendly so that users could easily understand how to search for a property. Easy user-interface of an app means quick property search, responsive search filter, hassle-free payments and saving favourites or wishlist.

Scope for customers to place queries

Lastly, do not rule out the need for an online enquiry mechanism in the app like live chat or email integration. It is a must-have for quickly responding to customers who are interested in a property and wish to know more apart from what provided in the app. They might want to talk to the seller directly.

Real-estates is the large and flourishing industry and to get a grip over its every potential you need a mobile app too. It would help your business make more revenue and grow by making your properties more easily accessible to prospective customers. However, make sure to keep in mind the mentioned features while you have your app crafted by an app development company.

The Complete List of Things to Evaluate Before You Open or Invest in a New Venture

Do you have an innovative idea you wish to market? Are you planning on opening a new business? Are you investing on somebody else’s idea?

If you said “yes” to any of these questions, don’t do it just yet!

Starting or investing on a new venture can be an emotional process full of anticipation and excitement. You need to keep a cool head and treat the process with the utmost objectivity.

To help with that, I’ve put together a complete list of questions you NEED to answer before you even think about putting a business plan together. This will help you make sure that no overlooked variable makes you incorrectly go forward or not. Make sure you don’t skip any part of the process and end the exercise with a very honest yes or no decision based on the answers.

You will find it difficult if not impossible to answer some of the questions. It is very important to understand the sureness of each response and the risk that each unanswered question implies. Handle this risk by analyzing scenarios with the different possible answers.

Write down a simple comment to each question, doing this formalizes your analysis. You can also think about each question in a SWOT analysis context identifying each one as a Strength, Weakness, Opportunity or Threat.

The Dos and Don’ts to keep in mind:

Do this all the time

  • Be methodic, analyze completely. Understand the need, competition and constrains, then tailor and differentiate.
  • Be on the lookout all the time for the fatal flaw that will make this fail.
  • Lots of questions can’t be answered or are too vague, check the risk of not knowing them.

Don’t Do This

  • Don´t follow the classic idea method: “I have an idea, let me think how to shove it to the channel or customer”.
  • Don’t focus on the features of the product, focus on the need you are trying to fulfill.
  • Don’t get tempted to skip a full analysis.
  • The most frequent mistake is to think everybody in the market is like you. If you like the product, everybody else will.
  • It is common to confuse a good idea with a good business opportunity, they are not the same.
  • Thinking “We have no competition” is only for naive entrepreneurs.
  • Don´t obsess with first mover´s advantage, most of the time funds prefer second movers because the idea is already validated.

The questions you need to answer:

Product or Service

  • Can you describe the business idea in 25 words or less?
  • Is the idea scalable? Is it limited to your time or something else?
  • Can your offering later change / adapt?
  • Risk of not being able to develop / manufacture the product?

Market or Customer

  • Can you do formal market analysis or only informal? (Interviews, observations, focus groups, surveys, market experiments, etc.)
  • Who is the customer? How precisely can he be defined? Location, profile, etc.?
  • What problem are you solving? Why would the customer buy? Does he want to?
  • Commercial risk, no willingness to buy?
  • How big is the market? Growing or shrinking?
  • How penetrated is the market by the industry? What share can you get fast? Later?
  • What price is he willing to pay? Based on what? How important is it?
  • How price-conscious is your customer?
  • Risk of change in consumer behavior?
  • Can the target market later be changed? Can you later attack other levels in the value chain?

Industry

  • Can you do formal analysis or only informal?
  • Is it thriving? Shrinking?
  • Do suppliers have power? Risk of supply shortage? Change in price?
  • Barriers to entry:
  • . Contractual? Patent or trademark?
  • . Lead time in tech development? Innovation?
  • . Management? People?
  • . Location?
  • . Regulations and government?
  • . Other barriers?
  • Can barriers change easily?
  • Do you have relations in place?
  • . Customers?
  • . Suppliers?
  • . Partners? Talent? Investors?
  • Experience in industry? Yours? Other management?
  • Risk of regulatory or other government related changes or intervention?
  • Technology risk of obsolescence?

Competition

  • Can you do formal competition analysis? If not, what informal analysis can you do? Is it good?
  • Who else is attacking the market? How? Successfully?
  • What is your competition´s pricing strategy?
  • What is the closest thing in the target market to your product? Are you a first mover? Second? More than that?
  • Strategic advantages / differentiators. Clearly visible to consumers or only in your mind? Sustainable? True, important and provable?
  • . Function? Design? Quality? Uniqueness? Innovation?
  • . Delivery? Channel? Availability? Location?
  • . Cost? Marketing? Sales?
  • . Ignorance of buyers?
  • . Customer service?
  • . Other?
  • Are you taking advantage of a certain opportunity, situation or advantage?
  • How fast can competition catch up?

Channel

  • Which options do you have?
  • Which one is the ideal? Why?
  • If the first choice does not work, does it make sense to try others?
  • What channels does your target market prefer?
  • Which ones are your competitors using?
  • How much integration do the channels have?
  • Will the channel change with customer habits or tech?
  • Risk of no access to the correct channel or consumer?

Sales and Advertising

  • How will you get customers?
  • How will you retain customers? Is it important?
  • Describe the necessary salesforce?
  • Can a salesperson of ordinary skills sell it?
  • Do you need advertising? Which kind? How much? Is it important?

Economics

  • How clearly can you model the basic economics of the idea? (Costs, sales, margins, required capital, ROI, etc.)
  • Will there be economies of scale? Are they important?
  • Accounts receivable? Can it become a problem?
  • How will you finance initially? Later?

Management

  • Do you have or can get the necessary management team?
  • Do management / leadership / organizational capabilities make a difference? How big a difference?
  • How valuable is intellectual property?
  • Does it make sense to do this solo? It normally doesn’t.

Other

  • Validation:
  • . How fast can you know if the business can work or not?
  • . Can you define the variables to know it? How fast can the data flow?
  • . Do you need product development to know? Dangerous!
  • . Do you need a long selling process or many tries to know? Dangerous!
  • Can you diversify? Not easy on new ventures, but can it be done?
  • Give me the biggest drawback / risk (fatal flaw) of the idea? The one that will make it fail?
  • Enlist the seemingly fatal flaws that can be fixed.
  • Does the idea fit your life objectives? Workload?
  • Do you feel passionate about the idea? Enjoyable? Are you doing it only for the money?
  • Give me the upside / best case scenario?
  • Give me the downside / worst case scenario?
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