Do you want to leverage technology to make more money out of the Real Estate business you already have?
The life would be much easier if you could put a “For Sale” sign along with your contact number and money starts rolling in but unfortunately it does not happen that way.
The deals eat up lot of your time.
Time gone = Money lost.
In fact, time is more precious than money because lost money can be earned again but time once lost cannot be re-lived.
Enter the world of Real Estate Mobile Apps that can fuel your Real Estate Business with more time which you can spend with your friends and family
Majority of investors depend upon realtors for guidance and trending issues and problems in the housing marketplace before investing. By doing so they could save time and money and might as well avoid bad experience with an agent or broker.
Mobile matters in real estate industry.
The year 2015 has seen a 20% increase in mobile app usage for real estate sales. In over 3 years, over 30 billion apps have been downloaded through iPhone and Android devices. As per a survey conducted by Yahoo owned mobile analytics firm Flurry, there is a recorded mobile use growth of 76% year over year.
The average age of a first time homebuyer in US is 30. Around 80% of the people of that age own smart phones. Repeat buyers’ median age is 50 and 65% of those age group own smart phones and the number is constantly rising. Among all these, 85% of the smart phone users rely on the mobile apps rather than browsers.
It’s no secret that majority of property searches are done online. The popularity of apps have grown remarkably as they are much easy to use as compared to a mobile website. With a significant part of US population opting for smart phones for internet access, the rise in the smart phone usage will continue to have a huge impact on the real estate industry.
How realtors took advantage of these mobile trends?
The most smart and cost effective approach is to make use of the leading property database like Zillow and Trulia. Both of these offer smooth, feature-rich and easy to navigate apps that provide a great chance for your property to show up in searches and result in increased number of buyer interest . Zillow being the largest real estate website with around 130 million visits per month was known to generate $4.32 in commission for every $1 spent.
Applifying your approach
Rather than being listed in a random real estate website with various other agents, you could have your own custom made mobile app for real estate agents and brokers which:
#1. Can be used as a marketing tool to help win listings
#2. Apart from listings, self-promotion and marketing can also be a way to capitalize on mobile trends.
#3. Would help you promote your brand to wider audiences
#4. Would ensure your company branding in the App stores 24/7
#5. Would help you promote listings and staff profiles
#6. Would increase your interactions with the buyers, sellers and general clients
#7. Developing a customized app would cost you somewhere around $9000 to $30000. Now, in US the agents and brokers work on commission. Typically, the commission range is somewhere between 4-8 percent depending upon the value of home and market conditions. Half of the decided commission goes to the listing agent (you, since you own the app) and the other half goes to the buyer’s agent. Say for example,
Home sold for: $250,000
Commission: 6% or $15,000
Listing agent’s share: $7500
You pay 30% of that in taxes ($2250), so now you are left with $5250
(Now this commission is only for one property sold. If three properties of similar price is sold per month the total commission would be $15750 which is half of the highest estimated cost to develop the app)
Features to include in a Real Estate App
#1. MLS integration
An easy access to timely updated listings of the properties would help buyers, brokers or agents access to multiple real estate options.
#2. Innovation through interactive map search
The clients are always on the go. They won’t take extra efforts to navigate through the browser or mobile websites. Through the app you can easily provide the clients with GPS enabled search making it easier for them to shortlist properties.
#3. Custom search filter
The search filter will enable the client to search a certain property by price, beds, baths, year built and other such options that you would want to include.
#4. Property view
Offer the property pictures and videos to the property seeker through your app thereby avoiding unnecessary waste of time.
#5. Communicate quicker and easier
Enable your clients to share and save listings through your mobile app. You can also include in-app messaging feature and stay connected with your clients 24/7 without needing to be available the whole time.
Real estate mobile apps aren’t just for listing. A right real estate mobile app can help you boost your business.
Need an affordable way to provide clients with a mobile property search that not only offers personalized home buying experience but also a streamlined sale cycle?
Want to implement specific design or feature and ensure your app gets discovered in the play store?
Want to stay ahead in the game of real estate and make tons of money for your business?
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