Mobile apps have come to dominate the business and productivity sphere globally. They can simplify existing business processes, introduce innovative features and even offer customer service to the end customers etc.
Real estate businesses appreciate the use of mobile technology for the various perks it offers. Thanks to mobile apps, realtors can optimize their business outreach, improve customer relations and offer innovative tools like mortgage calculators, tax estimators and comparison engines for the benefit of their users. Modern real estate mobile apps come with advanced functionalities like document management and visual aids to make the property purchase or rent experience near-flawless for the users. Every real estate business needs to keep abreast with the latest technology trends to stay relevant in the markets.
Real Estate Mobile App related Technologies to Incorporate in 2020
In this article, we discuss real estate mobile app technologies that cater to realtors, property buyers, tenants and paying guests alike.
- Big Data for Business Intelligence
Big data facilitates predictive analytics based on user purchase intent and behaviour based on past associations, trends, and patterns. Mobile apps that use big data from CRM tools develop insights into the time of app visits, no of visits to a particular listing and collect useful data based on their activity on the page. Integration of big data into real estate apps can help in forecasting when a user wants to sell or buy an investment property and the prices they are comfortable with. Realtors can price a property on the basis of real-time regional price analysis and future price fluctuation forecasts thanks to data. Data insights also help property sellers to sell and market their properties optimally.
Big data also aids data-driven decision making in real estate. Creating broad overviews of past trends and pairing it with real-time information, it provides useful insights like patterns, associations, demographic data and potential value of investing in different real estate propositions. Business intelligence from big data can empower a real estate application improving the interaction of property owners, agents, and customers in the app.
AR/VR for Sales
Real estate businesses can refine their online property search experience with AR/VR tech in their mobile apps. Real estate mobile apps that use AR/VR to let prospects enjoy virtual tools of the properties make it favourable for both sellers and buyers. While realtors happily forgo the need to write detailed instructions and swap it for a virtual tour to demonstrate instructions as they go through it, buyers engage better with these tours.
The use of AR in mobile apps helps create realistic architectural images allowing customers to understand the property even before it’s actually built. Buyers love how AR/VR integration in real estate mobile apps saves time commutation time spent to visit a location physically. Virtual reality (VR.) enables an increase in the efficiency of physical spaces’ management for the benefit of the parties involved.
AI and Machine Learning for Algorithm Assistance
AI equips buyers and tenants with the knowledge to aid better purchase and renting decisions. AI algorithms used in real estate mobile app development can match deals with customers and maximize the income of investors. Real estate apps with AI-backed recommendation engines provide buyers with relevant offers and even conduct personalized customers’ interactions. These apps can automate property management processes like listings, buyer and tenant application, and maintenance requests, etc. AI tech helps in monitoring vital metrics and predicting long-term trends in property prices and care requirements etc.
Enter the world of proptech with an AI-powered real estate mobile app that recommends properties, shows tailored searches based on consumer preferences and keeps buyers engaged for the benefit of your business.
Blockchain for Safe Transactions
Big-ticket value of real estate transactions opens them up to risks if conducted through digital mediums. Blockchain in mobile property apps is the answer to the risk involved in high-value dealing around the property. With the use of blockchain in real estate apps, assets to be tokenized and traded such as cryptocurrencies. Further, the use of blockchain techniques can verify encrypted transactions and ensure tamper-free financial records.
Blockchain mobile app development for real estate mitigates the risk and possibility of fraud with smart contracts, rendering them unalterable once encrypted. It also omits the participation of intermediaries like notaries, bankers, real estate brokers, and others to save money. Buyers that steer clear of real estate investing due to financial limitations can buy fractional ownership that may vary in size for cryptocurrency, all thanks to blockchain.
Geolocation for Localization
Realtors are trying to go hyperlocal to create value for buyers. Real estate mobile app development with geolocation can help realtors meet such market demands. With geolocation integration into the apps, they can offer buyers in-depth knowledge of the local property market and assist them in finding the right property fit in a particular area. Geolocation technology in real estate apps helps mark the physical location of the chosen property but also appropriately visualize parameters like property data, county maps, topography, flood zone maps, soils etc. All these parameters are of great value to buyers and help them assess the land value.
Real estate mobile apps aid buyers in property searches, informed decision making and seamless high-value transactions sans any risks. And a happy customer is what makes a profiteering business.
Building a real estate mobile app with these best app development technologies can help realtors deliver the most flawless buying, renting and sales experience for all stakeholders involved. Try to include all these technologies in your real estate mobile app development project, or hire app developers with OVE to help you execute app development for your real estate business.