A few months back, we lived in a mobile-driven age. We could get the services we want using our fingertips. Yes, it’s an on-demand technology that has made our life more comfortable by adding convenience. Be it a restaurant booking or a real estate app, on-demand was much in demand globally.
Then COVID-19 came to shake the corporate sector and the world’s economy. It is fair to mention that in this corona age, every industry has taken the brunt of lockdowns and moment restrictions except the on-demand sector. On the contrary, in these troubled times, the on-demand economy is thriving and many sectors get benefits of this technology to survive. One such sector is the real estate sector.
It is interesting to know what on-demand technology brings for the real estate business. However, here we will discuss the impact of on-demand technology on the real estate app development. Indeed, technological advancements in the domains of Blockchain and AR have taken the real estate business to the next level, the on-demand technology has brought convenience, automation, and instantaneousness in the real estate app.
As per the National Housing Forecast given by Realtor.com, 2020 is expected to see the peak of Millennial homebuying. However, the COVID-19 pandemic has a negative impact on this fact, and it can stretch the duration by a couple of years. Millennials tend to find the property online and they prefer house tours and other innovative features that support their “right now” mentality. These are important factors to consider when you build a real estate app.
Here, on-demand technology can play a vital role. It can make the buying or selling of a property easy for both parties. One of the biggest benefits of the real estate app development solution is it connects the buyers and sellers. The on-demand technology can simplify the process by removing the necessity of middlemen. The traditional approach to buy or sell the property is time-taking and risky, whereas the on-demand real estate app makes everything easy.
- On-demand Technology- Impact on Real Estate App Development
The on-demand technology is known for offering instant access to various services to the users. The real estate mobile app development solution can introduce this technology to make the app more convenient for users. The below graph shows the importance of on-demand technology on real estate app development.
If we study this graph, we find that 52% of older millennials and 86% of younger millennials are home buyers. Simply put, the real estate market in the USA and many other countries in the world is largely dependent on millennials. Now, millennials believe in instant-ness and it can be easily achieved by integrating on-demand technology in real estate apps.
The integration of on-demand technology in the mobile app is capable of disrupting the real estate industry. Let’s go through the significant impact of this technology in the real estate sector.
• Saves time and efforts
Whether it is a search for a new property or striking a deal, the on-demand process is secure and time-efficient. As buyers and sellers can connect with one another on a 24/7 basis online, the entire process of buying and selling the property can save a lot of effort and time for both parties. The on-demand real estate app enables users to get access to the property details with a single click. The on-demand model can transform the real estate sector by bringing automation and convenience.
• Reduces cost
The real estate sector is notorious for hidden charges and lack of transparency in various processes. Many buyers just hate to bear the expenses related to hiring an agent and giving various commissions. There, on-demand real estate app solution comes to their rescue. Users can easily get rid of paying commissions as the mediator is removed. In a way, the on-demand technology can significantly reduce the cost.
• Simplifies process
Buying and selling processes can be managed easily using on-demand technology. These days people tend to search for real estate property online, and the on-demand app can improve their searching experience significantly. The on-demand real estate apps offer some filters as well to make the search more specific and personalized.
Also, the elimination of the middlemen from the processes can bring simplicity in the buying and selling processes. Buyers can connect with the sellers directly and vice versa. Both can have seamless access to the property using their fingertips. Sellers, who want to sell their property urgently, can use the real estate app with on-demand technology.
• Brings digitalization
Apart from bringing automation, on-demand technology makes the entire process digitalized. Be it an offer submission or acceptance of an offer, the app users can accomplish their tasks with just a few clicks. Also, sellers can upload the listings, and buyers can get instant access to the property. The process is completely digitized as no human interference or activity is necessary. The real estate app with on-demand technology can save time and effort while reducing the possibility of human errors through digitization.
Also Read- Strategy for Effective Real Estate Mobile App Development
• Removes middlemen
The on-demand technology offers a robust yet competitive platform to the real estate agents and realtors. However, it successfully eliminates the need for middlemen or brokers by connecting the buyers and sellers directly. You can build a real estate app with a direct line of communication between the buyers and sellers.
The on-demand real estate app enables people to search for properties without taking any help from a mediator. In a way, on-demand technology makes the search and purchasing or selling process simple.
• Decreases dependency
The mobile app development company integrates on-demand technology in the app to enable its clients to reduce dependency on other people. For example, if you want to build a real estate app, the app development company can integrate features like a virtual tour of the property, 360-degree view, and schedule a visit of the property. Interested persons can directly contact the buyers through an on-demand app and get the buyer’s nod to visit the property. It simply reduces the need for on-site agents to remain present every time.
- What On-demand Technology Brings for Real Estate?
The on-demand technology transforms the real estate sector digitally. The real estate app development process evolves rapidly by integrating other technologies including AI and Blockchain, but, the on-demand technology makes the app ready for the “right-now” approach of millennials. The on-demand real estate app can connect property owners, buyers, and managers effectively and as a result, the sector passes through a transformation.
These days, the space-as-a-service model gains momentum across the world. It facilitates the customers to get a property on a temporary basis. This model saves overheads and other costs for entrepreneurs. The on-demand technology enables the real estate sector to make the most of this model. Chances are bright that the space-as-a-model concept will flourish over the period, and on-demand real estate app will enable the realtors to make the most of it.
Home tours or virtual tours are available in the on-demand real estate app. The concept of a virtual tour can attract more buyers and realtors can leverage this concept to sell or rent their property in a short time. Also, scheduling a home tour is easy with the real estate app. The app users can either visit the property on their own accord or through the agents. This feature can help you make your real estate app popular.
- Cost of On-demand Real Estate App
The cost of an on-demand real estate app depends on various factors including features and the hourly rate of developers. The inclusion of more features is essential to stay ahead of the curve, but then, it increases the complexity and the development cost significantly. You can initially come up with basic features to match your budget and business needs effectively. You can introduce other features in the subsequent versions.
Considering various factors, the cost of the on-demand real estate app starts at $25000 and stretches up to $60000. However, it is advisable to contact a reputed mobile app development company to get a quote on the basis of your business requirements and market trends.
Concluding Lines
The on-demand technology can give your real estate app a competitive edge over peers. Apart from increasing efficiency and improving the customer experience, on-demand technology can make your real estate app highly valuable. You can grow your business and profit by expanding reach. If you want to give a boost to your real estate business through a feature-rich app, the right time is now!
Solution Analysts is a reputed mobile app development company with an in-house team of experienced developers. We integrate advanced features in your real estate app and assist your business to expand rapidly. You can speed up things with on-demand technology. It is fair to mention that on-demand technology will shape the future of real estate app development.
Original Source: How On-demand Technology Benefits Real Estate App in Corona Age
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