The housing market is on everyone’s lips at the moment. People are renting, looking for houses, signing new leases, or selling properties every day. The absolute majority of these people, 97% to be precise, search their options online. In fact, so many people seem to be involved in real estate activities today that property management agencies can’t keep up with the demand by themselves.
That’s one of the reasons why real estate app development is on the rise. The market size for this type of software is expected to reach $7.5 billion (showing a 2.9% annual growth rate) by 2026.
Such applications handle most real estate-related issues. People rely on such software to help them manage properties, look for renting options or buyers, and more. In fact, it is hard to imagine dealing with any of these tasks without a handy real estate app.
These applications benefit agents and potential buyers, sellers, and renters. Everyone in the industry and beyond is interested in exploring the potential of such software for real estate.
In this article, we will explore the most popular applications on the market, how they work, and how to create a similar product.
Types of real estate apps
Depending on the purpose, real estate applications can be divided into several categories and types. Each type should help with a particular task, thus, offering special functions and features.
Let’s see the seven main types that help people navigate the waters of a rental property listing.
Renting apps
Perhaps, the most common real estate mobile app, the renting app, assists people in their search for temporary accommodation. Most of us have used a rental app at least once in our lifetime. For instance, Airbnb is one of the most popular examples among house renting apps. People rely on the app to find short-term renting solutions, review their options, contact owners, and book and pay for housing – all fully automated.
Overall, renting apps for apartments or houses have been rising over the past years, considering that it remains a more financially accessible option.
Buying and selling real estate apps
As the category type suggests, these apps assist in property sales. Users rely on such applications for listing a property for sale, viewing their options, contacting owners or potential clients, etc. Such an app can also be used for listing your property for rent as an alternative option.
However, these apps mainly serve as portfolios and conversation platforms. They help connect agents, buyers, and sellers. Usually, there are no transactions carried out via a mobile app.
Home valuation apps
Home valuation software is basically a real estate calculator app. Such a program helps measure the value of homes based on properties’ qualities and other criteria. It is well-known that the location of a house, its neighborhood, renovations, size, etc., play the main roles in determining the price of the house.
However, such an app will give accurate results on how much the given information affects the price of the house. Thus, sellers can receive an approximate number to offer the property on the market. Such applications are a rather new concept as they require AI to function properly.
Realtor apps
Realtors can also benefit from this type of software. For instance, an app for real estate agents deals with certain work elements, like maintaining a customer base, placing ads, or updating a property listing, so realtors have more time to connect with their clients.
Overall, a real estate agent app can deliver all basic information without requiring personal interactions between agents and clients. Such applications can also serve as realtors’ portfolios. Plus, agents can use it for managing schedules, paperwork, contacts, payments, and more. Thus, it becomes a business platform for the agents to conduct all their affairs.
Property management apps
Such applications help complete property operations of all kinds. The software is applicable to all sorts of properties, including commercial ones, hotels, and residential housing. As long as these properties need management, these apps can help. They are mainly aimed at businesses, hotel personnel, and managers who watch over multiple accommodations.
Real estate investment apps
Before everything else, real estate is a massive business. So it is no surprise that real estate investing app development is quite in demand at the moment. This real estate application type analyzes the market and determines the best moment to buy or sell.
Such apps can also help potential buyers calculate foreseeable expenses in the future, including mortgage size, taxes, and interest rates. Hence, it determines how beneficial it is to purchase at the given market state. Lastly, such applications can analyze the industry as a whole, giving investment tips and other valuable info based on your interests.
Real estate apps for auctions
These applications work as online auctions for real estate. They show a property listing for sale where anyone can purchase them online. Buyers, from real estate agents and investors to people who are looking for a home can use these apps to get auction alert notifications. There they can also learn info about the property and place their bids.
Do you want to create a real estate app?
We at Eastern Peak can help you develop custom real estate mobile application based on our deep expertise in the solutions for the real estate industry and following the greatest market examples.
Top real estate apps on the market
Knowing the specifics and variety of such real estate software one can’t help but wonder, “what is the best app for real estate?” Well, it seems as if each niche has its favorites. Here is the list of the most popular and known real-estate applications. They stand out due to their size, searching abilities, user interface, and accuracy. Several such applications can cover all real estate needs.
1. Zillow
When it comes to the US real estate market, Zillow is the top player. It is the largest platform in the country, with over a million property offers and thousands of users. Virtually everything you may need or expect from a real estate app is on Zillow.
Here, you can search for a rental accommodation, buy, sell, find agents, offer property online tours, auctions, and more. While searching for rent, people can team up with other Zillow users.
2. Trulia
Trulia is the best real estate app in the home valuation category. It has everything users need to make a well-educated decision about renting or buying houses. Here, you can apply numerous search filters to get exactly what you are looking for. Once you are interested in a property, you can learn about its neighborhood, shopping options, pricing history, etc.
The app also has calculators to analyze potential property costs with taxes and mortgages, plus the lists of agents in charge of each accommodation.
3. RedFin
RedFin is perfect for selling and buying. Sellers can place their property there with only 1-1,5% commission to the app. Buyers can set their preferences and receive notifications of all openings or new offers on the marker. The app also has powerful customer support and with agents who are always ready to help.
4. LoopNet
Whenever people are looking for a commercial real estate app, they often end up with LoopNet. This application saves a lot of time for entrepreneurs and investors who are looking for specific commercial properties and don’t need residential listings.
Users can rely on LoopNet to find spaces for lease, or businesses and properties for sale. Listings include offices, shops, and industrial spaces. The app also has unique filters made specifically for commercial properties, such as cap rate percentage, tenancy, submarket, etc.
5. Realtor
There aren’t many apps on the list supported by the national real estate agent association, but this is certainly one of them. No surprise, this is the right place to find a real estate agent for your future choice.
In fact, Realtor offers great communication options between clients and users. Thus, all real estate conversations can be held within the app. Overall, the app has good traffic among users searching for rental options or those who sell/buy personal properties.
Realtor provides all the essential and up-to-date data on properties, including area overview, house info, video tours, and more.
6. Xome Auctions
As the name suggests, this is the platform for real estate auctions. Sometimes, such a place can be the best option for purchasing a house or apartment, and Xome is the largest app to conduct online auctions for real estate. Its extensive database, notification system, and detailed overview of each property earn the app a place on the list. Users have several payment options if they don’t want to complete deals with online payment transactions.
7. Homesnap
Homesnap is a perfect tool for people who want to buy residential properties. There are no other options on the app (no rentals or commercial real estate). Such limitations surely have their benefits for the target audience, making Homesnap the best real estate app for buyers. Here they can look for available housing and choose an agent in the preferred area.
The app also keeps agents’ databases open so users can contact or book tours on the platform.
8. Apartments
One of the oldest and renters’ favorite apps, Apartments, has everything one needs to find a short or long term place. Users can search for rental options, overview their prospects, contact landlords, and even send their offers and negotiate deals directly with owners. Search filters help users focus only on the places (apartments, condos, houses) with the desired criteria.
The downside here is the limited number of allowed applications per month without a paid subscription.
9. Mortgage Calculator by Quicken Loans
This app can help users deal with most if not all real estate financial estimations. Mortgage Calculator by Quicken Loans is a simple and convenient real estate calculator that helps you define your potential interest rates, mortgage payments, loans, and other financial responsibilities when buying a property.
10. Dotloop
The leading property management app, Dotloop, is widely popular among professionals in the field. The app helps agents and brokers conduct their business affairs, including signing contracts online and creating other types of real estate documents. Dotloop also helps agents track their progress on each deal and save their working history. Overall, it is a perfect real estate working tool to stay organized, informed, and efficient.
Real estate software development trends
The real estate industry is constantly searching for new ways to attract clients and make progress with its online solutions management. For such a reason, there are several dominant software development trends in real estate that are worth exploring. Let’s take a look at five of them.
Big data
Real estate apps have to manage large quantities of data, from user information to property listings. A regular processing option won’t be a good match in such a case. That’s where big data comes into play. This method can analyze large amounts of information in short periods of time. Such processing helps create a smooth and efficient user experience by enhancing search filters and recommendations.
Artificial intelligence
AI is one of the most prominent real estate trends of recent. The given technology, along with Machine Learning (ML), can turn any application into thinking software. Thus, AI can run an analysis of users’ behavior and offer changes and adjustments in the app’s processes.
For real estate purposes, AI can predict perfect accommodation suggestions based on the user’s search history, used filters, and profiles. AI can also serve as a powerful, independent managing tool to assist in realtors’ work processes.
Augmented reality
Augmented reality helps users visualize the houses they consider renting or buying. Thus, they can use applications to have visual tours inside properties to get a better feel of how they like it. Such an experience gets clients as close to the real-life tour as possible, helping them to make a fast and educated decision.
Blockchain
Blockchain is a reliable, fast, and popular way of sharing and storing data online. It is often used inside large firms to ensure a more secure and convenient way to work on documents and reduce paper waste. In real estate, such technology helps optimize the work process, by conducting payments, managing documentation, saving transactional history, etc.
Internet of Things
IoT technology helps collect valuable property data, analyze it, and deliver reports to property owners or potential clients. Such technology uses sensors to monitor and assess processes in and around the property to ensure efficient usage of technology and space.
In addition, potential buyers or renters can use smart lock/key applications to make a scheduled visit by themselves. Also, IoT is used to assess the potential risks of each property and analyze portfolios online.
Things to consider when building your real estate app
Mobile app development for real estate is on the rise today. It means many applications enter the industry by say. To stand out, you need to produce a solid, effective, and functional product.
Let’s see several ideas that can give you an edge in the competition.
- Ensure great search functionality: A sorting system is essential for a high user experience. Listings can have endless options that are impossible to scroll through without relative search filters. Giving clients accurate suggestions and numerous options, such as location and property specifics will assist their search and ensure a smooth app experience.
- Provide efficient communication: Establishing strong communication between all involved parties is necessary for a successful business. In-app messaging systems should give users a platform to connect, ask questions, and make appointments.
- Introduce graphic elements & 3D virtual tours: AR/VR technologies give an app an undeniable advantage. Such tech advances allow clients to form accurate insights about the property and help them make a decision on the spot.
- Integrate various APIs: Real estate software can and should use available APIs for better user experience and higher functionality. The most common APIs such as Google Places, provide users with neighborhood information, help map areas, etc.
- Start with a product discovery phase: Any product development should start with the product discovery phase. At this stage, you cooperate with the development team to determine the best path for your future product, which includes its functionality, target audience, design, and budget. This stage establishes the correct foundation for future development.
Begin your real estate apps development
The world of real estate applications is much bigger than just apps for renting houses. It contains highly useful and efficient applications that help users, buyers, sellers, property managers, and entrepreneurs, conduct all sorts of real estate activities. Thus, developing a real estate app comes with many options and freedoms.
So, if you consider entering the industry and creating a real estate app, contact our team at Eastern Peak for a free consultation. Don’t miss your chance to create the next best app for real estate.
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About the author:
Oleg Roberman, Chief of Delivery at Eastern Peak
With strong technical background and outstanding project leadership skills, Oleg helps Eastern Peak customers introduce competitive advantages and instill productive changes in every process by resolving complex business issues and managing multicultural teams through innovation and creative thinking.
