There was an era when those who wanted to sell or buy their home depended on an agent’s hours. The agent was solely responsible for visiting homes for purchase, renting, or getting potential customers to see their properties. The traditional practices have changed drastically with the introduction of Generation Y or Gen Y into the real estate market.

The entry of millennials into the real estate market has led to a variety of shifts in the market, which are currently impacting the rest of the sectors.

With its famous characteristic of requiring everything to move and in real-time, Gen Y put the slow and traditional businesses on a platform known for providing them with everything they require and what they want using the platform for mobile. This transition from face-to-face open homes to virtual tours on mobile devices has been observed by all the property market stakeholders, who, just like millennials, are demanding a shift of the industry to mobile.

The demand for mobile applications is increasing, and the need for digital tools for the property industry is becoming more apparent than ever before. In this guide, we’ll take you through all aspects of real estate app development, the main elements that affect the price, and other practical considerations.

What is a Real Estate Mobile App?

With the rise of smartphones and tablets, users have turned to mobile apps for real estate to locate properties, interact with agents, and streamline the buying or selling process. This change in the way buyers and sellers interact has resulted in an increase in mobile app development, and companies strive to keep up with their clients’ constantly changing requirements.

In simple terms, a mobile real estate application is a program designed specifically for smartphones that can simplify the process of selling, purchasing, and renting homes. The apps for real estate also offer various other advantages like virtual tours, searching for properties within a certain region, and more.

Real Estate Investment Apps

It is emerging as a useful instrument; real estate investment apps provide an easy way to study the market, evaluate it, and invest in real estate investments.

One of the main advantages of these programs is the option to invest relatively small amounts of money, commonly called fractional investment. This allows the investors to acquire a portion or even a small percentage of the property without having to pay huge upfront fees for the entire property.

Mortgage Calculator Apps

Calculating the numbers is an essential aspect of home buying. Mortgage calculators can assist in determining the financial nitty-gritty, such as estimating monthly mortgage payments, analyzing loans of different types, and preparing budgets with precision.

Property Search Apps

Property search software makes it possible to quickly find new properties or homes without even visiting them. Platforms like Zillow have revolutionized the way we look for houses by providing a massive listing database that includes everything from large homes to sprawling estates.

Property Management Apps

The responsibility of managing many properties can be tiring. However, property management software could make the process easier. In reality, the app acts as a virtual assistant, providing transparency of rental processes and making landlords more able to connect with tenants.

Top Factors Affecting the Cost of Real Estate App Development

Various factors influence the real estate app development cost. Below, we’ve discussed these in detail. Let’s learn:

Platform (iOS, Android, Web)

The platform you choose to run your real estate software will affect the total development cost. If you choose to develop on two iOS and Android platforms, this will cost more than creating one.

On the other hand, tools for cross-platform development, such as React Native, can help reduce expenses. However, native apps for every platform require more effort and resources. Web-based versions of your app, as well as mobile apps, can add to the total price.

App Development Team

The knowledge and experience of the real estate app’s developers significantly impact determining the price for your app. An experienced developer with years of experience developing applications for real estate will cost more for their services.

Developers in regions with more expensive living expenses, such as North America and Europe, typically charge higher hourly fees.

However, developers located in Asia, such as India, are likely to charge less. In addition, the need for specific tasks (e.g., blockchain developers developing advanced capabilities) could increase the cost.

Backend Infrastructure

The backend of your app, which manages and stores all information, can influence the total cost. A real estate app that manages large amounts of listings, transactions, and user information requires security, scalability, and a solid backend.

Utilizing cloud-based services (AWS and Google Cloud) or dedicated servers can also increase development costs overall.

Testing & Quality Assurance

Testing and quality assurance are two essential phases of the development process that guarantee the app’s quality. Prior to launching, this stage ensures that the app is error-free. The complexity of the application and the testing methods will determine the price of testing and quality control.

App Features & Functionality

The app for real estate has functionalities that play a major impact on the final price.

A simple real estate app that includes a listing search, property details, and contact forms can cost anywhere from $25,000 to $60,000. However, adding advanced features like virtual tours of properties, integrated payments, or predictive search can be priced at around $120,000 or more.

The more complex the feature, the longer and more effort is required to create it, which directly affects the price.

UX UI Design

UI UX design is essential for real estate apps. It is more expensive when you require a custom, highly interactive, and engaging design with easy navigation and appealing layouts.

However, basic templates cost less. Custom designs that give users seamless experiences across various platforms and devices require higher budgets for design resources.

App Maintenance and Updates

After your real estate app is up and running, continuous maintenance is necessary to ensure its smooth functioning. It is also essential to keep up-to-date with the most recent OS versions.

Regular updates, security patches, bug fixes, and the addition of new features all contribute to the application’s long-term costs. It is important to plan for maintenance costs that range between 15% and 20% of the development costs per year.

Third-Party Integrations

Integration of third-party APIs and services, such as Google Maps for location, payment gateways, or even property data providers, could increase the cost of development.

Integrations like these typically require extra real estate mobile app development time and could result in licensing costs for accessing third-party APIs. In addition, integrating real-time communication tools like chat may make things more complicated and costly.

Key Features of A Real Estate App

Let’s look at the most important features that should be added to the app to assist customers in renting, buying, or selling property. These are the features:

Search & Filters

It allows residents to filter homes by different criteria, such as location, price, and room number. Additionally, it allows them to filter available rental properties by terms, property types, pet policies, and more.

Photos & Street View

Add a photo and street view for an accurate representation of each property. Immersive 360-degree videos and virtual tours can be an excellent benefit for users.

Maps Integration

Users can view directions for each property to help them reach their destination conveniently. This feature can be made more sophisticated by adding a smart map function to let users know the location they are in and the other options close by.

Push Notifications

This feature has huge marketing potential. Properly utilized, it can offer huge benefits, like updates to information, messages, and price changes for the properties.

Virtual Home Tour

This feature is now a must in real estate applications. It lets users use VR and AR to view the property prior to buying. To effortlessly integrate VR into your real estate app, you can seek advice from experts in the field.

User Login & Sign Up

Give multiple sign-up and sign-in methods for users to ease their navigation. To make it easier for users to make use of the app, let them create accounts by using the social networks they have on their accounts.

Property Details

Include all the details about the properties, such as descriptions of the property, photos, video prices and landmarks, local areas, and additional information. If you have specific information about the property, your listing will be useful to consumers. It is possible to do some research to find out what Zillow charges to advertise the house. This will provide an affordable option to real estate professionals and homeowners who want to sell their homes.

Database

The popularity and success of a real estate app, such as Zillow, depend on the accuracy of the data it collects. Providing diverse data to keep people interested in your application is essential. Collaboration with local property agents and professionals is a must for a thorough database.

Top Tips to Reduce Real Estate App Development Costs

If you’re planning to develop an advanced application like Zillow but aren’t sure if you can afford the budget line, don’t fret. We’ve prepared it for you. Here are some helpful tips to lower the development costs of real estate apps without sacrificing quality. By following these guidelines, you can save on costs and offer an exceptional experience to your customers. These are the tips:

Choose The Right Development Team

Choose a real estate app development company that can provide an equilibrium between cost and quality. Choose teams in areas where living costs are lower, and they do not compromise on quality. If you select the most suitable team, you could reduce up to 20-30% of the development costs for an app based on real estate.

Outsource Non-Core Services

Outsource services such as testing, content development, and other development tasks to specialist agencies or freelancers. This method can yield greater than 20% savings since you’ll use the knowledge within your budget, and your team will be able to concentrate on other projects.

Prioritize Necessary Features

Concentrate on the main aspects that are crucial to the app’s capabilities. Too many features can cost money and take up a lot of time. Prioritizing important features can help reduce development costs and help you focus on the most important aspects.

Cost-Effective Frameworks and Tools

Select tools and frameworks that help speed up the development process and eliminate the need to write codes from scratch. This reduces development time, leading to savings of 25-40%.

Regular Review

Continue to review the budget during development and make any necessary adjustments. This method can help prevent excessive costs and ensure that you are responsibly managing your finances.

The Key Takeaway

The cost of developing an app that deals with real estate could be anywhere from $15,000 to $100,000plus. However, real estate app development costs are variable and will vary depending on various variables. It is important to make educated choices to create a smart and future-proof application when developing your application.

But, it is essential to work with a reputable application development firm to develop your app.