Broader marketplaces and greater mobility continue to affect many industries. Real estate is a perfect example of how technology can make the sales and leasing process more cost-effective, efficient, and targeted. Through advances in real estate app development and other forms of customer service/outreach, buyers can open their range of possibilities and sellers can qualify a wider audience of buyers. Apps also reduce the risk for property owners, agents and buyers by lowering the cost of doing business.
Digital advancements help real estate professionals in other ways, too.
The US population grew by 4 million people since the last census. Remote work means people are no longer tethered to a single geographic location. Add to that the number of people investing in real estate. Then you can see that the entire industry is in flux and searching for better ways to reach and serve its audience.
Trends That are Reshaping the Real Estate Industry
Even before COVID, the market was shifting toward less face-to-face interaction between agents and their clients. Three important trends over the past five years are directing changes in how we locate and lease or purchase properties.
For one thing, older property owners are looking for ways to stretch the retirement funds in the face of a rising cost of living. The rise of platforms like Airbnb also allows middle class homeowners to turn their best asset into a source of relatively passive income.
Then, we have those pesky millennials.
The demographic situation as a benefit
This is the largest demographic in American history, and more than 70 percent of millennials are hoping to enter the real estate market soon. They also want to get away from overcrowded cities and into more affordable locations.
Because this demographic is also the most tech-savvy and likely to have the ability to relocate. People are also more likely to rely on current technology to help them meet their housing goals and requirements.
Due to the above-mentioned shifts in demographics, their needs, and how they’re served, the biggest trends in real estate technology over the past few years are expected to continue to grow in the future.
This brings developers an ideal opportunity to utilize advancements like:
Predictive analysis to help refine, qualify, and target potential renters and investors.
Mobile access for agents and prospective customers who are working on the go within a shorter time-frame.
Digital listings that can be refined by people searching for properties that better meet their needs.
All of these innovations are wrapped up in modern real estate platforms and related applications.
Top Real Estate Mobile App Trends That Will Inspire Your Development
Last year, web-based real estate apps like Trulia and Zillow served more than 100 million people and sold more than 6 million properties. Leading the way is mobile app development, and that trend is only expected to grow.
Before you begin to create your own real estate app, it’s a good idea to look at the most popular apps and development trends to learn what makes them work and what can be improved. For your consideration, here’s a breakdown of the mobile development trends currently driving the market.
1. All-in-One Development Tool Kits
Whether you’re doing the coding yourself or outsourcing some portions, keeping track of front and back end development – and all that they entail – could be trying for even the most dedicated and talented project manager. The more complex the app, the more likely it is that essentials can be overlooked. Add collaboration among multiple team members, possibly working from different geographic locations, and you can see where problems might develop.
Rather than managing multiple teams, determining your tech stack, and then trying to get it to work with the most popular platforms, open source developer tool kits like Flutter streamline and centralize the whole process.
Flutter is a software development kit (SDK) that was created by Google and offers several advantages over a piece-meal approach. Aside from the open source flexibility, this free SDK is completely supported by all of Google’s tech innovations and platforms, and you can build apps for both iOS and Android powered devices.
Based on a very user-friendly and easy to learn language called Dart, Flutter utilizes a single codebase and hot-load functionality. This makes code easier to write and test, improves remote collaboration, and reduces time-to-market ratios.
2. Touchless Smartphone Operation
This trend goes beyond voice-directed messaging and navigation to include several touchless capabilities. These include gesturing and other motion-based technologies like snapping and waving your hand in front of the screen.
The introduction of motion/gesture recognition engines that allow users to conduct mobile-based searches, answer or decline calls, and almost anything else you’d do to navigate around a mobile screen.
Such innovations not only elevate the user experience by making smartphones easier and more enjoyable to use, they’re revolutionizing the functionality of UI. Make including touchless functionality a priority and set yourself apart from other developers.
3. Face-Recognition Software
Often considered as a security and monitoring aid, facial recognition software has several apartment finder applications. It simplifies the login process and allows users to manage multiple accounts and apps with one verification.
Facial recognition also helps prevent fraud by allowing agents and other users to verify identities to ensure that the persons they’re dealing with exist and are the actual clients.
Such software we can also use to enable special features on the mobile device, such as turning on “Do not disturb” mode.
4. IoT and Smarthome Technologies
When you think of IoT, smarthome management is probably one of the first things that comes to mind. There are currently hundreds of possible applications for these technologies and millions of users, and that trend is only expected to continue.
The type of intelligence gathering, analysis, and utilization enabled by IoT networking offers tons of added functionality to commercial and residential property transaction platforms.
From a buyer’s perspective, IoT networking is a great selling point. For agents and sellers, this platform allows them to better showcase properties through intelligent lighting and climate control while providing heightened security. It also improves property management and maintenance by sending alerts when a major system is malfunctioning and providing reminders of routine maintenance tasks.
5. AI-Powered Platforms
Artificial intelligence is the future of nearly all technologies, and its possible applications for real estate are many. Real estate is becoming an environment where clients are almost as knowledgeable as brokers, and AI provides deeper insight into buyer behavior and trends.
Whether it’s matching buyers with properties, property management, analyzing trends by a range of metrics, or comparing investment potential between properties, there’s an AI algorithm that can provide more accurate, timely information.
6. Prioritizing Digital Well-Being
Behind every peak of technological advancement is a potential downside.
Enter the era of digital well-being.
As an app developer or company dispensing this technology, it’s important to consider how – and how often – individuals use your apps and make improvements. By prioritizing digital well-being, you can perform this type of analysis and put it to use to improve user experience while preventing user burnout.
How?
When you learning how often people open apps and calculating time spent interacting with apps
When you understanding the reasons app usage is dropped or discontinued
Receiving statistics about notifications
Using this data to enable functions to lock or unlock apps, set time limits for app use, or toggle between Focus mode and general usage.
This type of data gathering and tracking allows you to tailor development and add functionality that includes features meant to support user well-being by monitoring, tracking, and personalizing their smartphone use and platform interactions.
7. Hyper-Personalization
No one likes to feel like a faceless consumer. App developers can include features and functionality that makes each user feel like they have a personal marketing manager while still supporting a growing consumer base.
Through AI-driven hyper-personalization:
Users can set preferences to receive individualized content and notifications
Uses geolocation technology to target specific demographics over a range of platforms
Develops applications that take more granular demographic information like education and income levels, lifestyle, and other considerations into account for marketing purposes
Designs app interfaces that reflect user’s behavior and taste
8. Business Intelligence and Big Data
No business that relies on customer service can do without Big Data and it’s related technologies. As more people enter various property markets as buyers, brokers, or investors, the need to collect, analyze, store, and preserve data will increase.
In fact, managing that amount of information in a timely manner will soon be beyond human capability.
Business intelligence software allows users to tap into the power and potential of Big Data and data analysis in a more meaningful and impactful manner. It decentralizes and streamlines core business processes to free real estate professionals for customer service. BI also improves customer service in other ways. These include marketing, predictive analysis, and the ability to anticipate and leverage trends.
9. Blockchain Technology
You may think of blockchain technology in terms of financial transactions, but the same tech that provides secure, moneyless transactions also impacts real estate in other ways. Since 2017, crypto has been used in real estate transactions, creating a whole new industry for blockchain real estate startups. However, it also solves several property-related pain points, such as preventing fraud, improving security of digital transactions, and cutting out the middleman when it comes to getting permits, notarizing forms, and performing other business support functions.
10. Immersive Technology
COVID isn’t the only factor when it comes to overcoming distance issues. Potential buyers and renters are relocating in record numbers, and overseas investors are looking for new markets to enter. Through immersive technologies like virtual reality and 360-degree 3D tours, prospects can get a true view of properties they’re considering without physically visiting the location.
This prevents the problem of buyer’s remorse, makes showing a home possible regardless of time of day or geolocation, and makes showrooms unnecessary.
Final Thoughts About Real Estate App Development
Whether your clients are buying, leasing, or working in the real estate industry, app development makes the process of locating, purchasing, and leasing properties more efficient and less stressful.
Markets are rebounding all over the country. If you hope to expand your app development inventory and keep up with demand, incorporate real estate apps into your repertoire of experience.
