Why Real Estate Agents Should Invest in Custom App Development

The real estate world is all about technology – agents have to use technology to stay ahead of the game and provide the best service to clients. One of the best investments for a real estate agent or agency today is to develop a custom mobile app. The reasons are plentiful, but it primarily boils down to these key benefits:

Streamlined Workflows

Custom-built apps built with the help of real estate software development services let agents combine and maximize processes unique to real estate. This includes features like:

• Property Listings and Management. Centralized database of listings available, integrated with MLS, as well as tools to manage listings, such as scheduling showings, tracking feedback, etc., marking a property as ‘Sold’ or ‘Rented’.
• Client Communication. Contacts, templates, and automation are built in to keep clients in the loop with transactional communications, messaging and email.
• Paperwork and Contracts. Fill out forms, share, and track progress during deals. Avoid printing contracts. Digitally out, sign, and document paperwork.
• Payments and Billing. Do you accept payments, charge commission fees, or track invoices? You can do all this in one place.
• Calendar and Scheduling. Showings, meetings, visits and open homes with clever timing. Sync with external calendars.
• And More. Tasks, notes, in-app access to market reports, and search and favorite saving capability.

Agents can be more effective on the go by grouping these important processes into a customized mobile solution.

Increased Productivity

With a streamlined custom app that caters exactly to a real estate agent’s needs, agents can be more productive in less time. By integrating tools that eliminate busy work while working in the field, agents can concentrate on closing deals.

It also allows agents to access full listing details, communicate instantly with other agents and write up offers without having to return to a desk, meaning they can provide better on-site service to clients. A custom app enables agents to get more done from anywhere.

According to real estate coach McKinsey, top agents leverage technology to be productive 70% of their time. Custom apps make it easy to maximize productivity.

Enhanced Client Service

An excellent mobile app also leads to better service and communication with clients. With a custom app, agents can provide branded and integrated tools to clients, allowing them convenient access to:

• Search and view listings
• Schedule property showings
• Communicate with their agent
• Track deal progress
• Sign documents electronically
• And more, all from their smartphone

This level of service keeps clients better informed, delivers a smoother process, and allows agents to exceed expectations. Agents can build their brand directly through a quality custom app that demonstrates their commitment to utilizing top technology.

This also helps reduce bureaucracy and frees agents to spend more time building client relationships and providing the individualized service that today’s consumers want.

Access to Data and Analytics

With a custom app solution, agents can capture and access data to gain market insights and improve their business. Agents may monitor performance patterns over any period, pinpoint areas for development, benchmark against targets and KPIs, and find which methods and approaches provide the highest return on investment by means of metrics and reporting around listings, deals in progress, client correspondence, and more.

Custom apps also give privacy and data protection for private customer data that must be available on-field. Custom apps give agents the visibility they need while keeping data safe.

Competitive Differentiation

There are many generalized apps for real estate agents, but a custom app puts tech savvy agents ahead of the pack. And it allows them to distinguish themselves.

The Statista also found that 72 percent of real estate buyers would use a mobile app to search and tour potential homes. A well-designed, responsive app makes an agent’s image and brand look like an expert at using the latest technology to help homebuyers.

It also gives you exclusivity with a custom app. Agents can provide unique tools and proprietary listings access to clients that their competitors can’t. This sets the agent up as an innovator versus old-school agents who are still using paper and generic software tools. Real estate moves fast, and custom apps help agents move faster than the competition.

Versatile Marketing and Networking

To create leads and increase brand awareness, agents devote a lot of time to marketing and networking events. A customized app supports these efforts in multiple ways:

• Add lead capture and contact forms to convert open house and online visitors into contacts
• Directly share listings and updates on social media from the app
• Schedule networking events and appointments with access to calendars
• Show agent profiles, testimonials and branding in the app
• Broadcast messages to client contact lists
• Collect client behavior and contact data for retargeting campaigns

This gives an agent more reach and more powerful campaigns.

Cost Savings

At first glance, investing in custom software seems expensive. But in reality, an app delivers significant cost savings that deliver an excellent ROI.

Custom apps consolidate multiple standalone tools, eliminating real estate app development costs. All-in-one access reduces redundancy and eliminates things like paperwork, printing, faxing tools, generic CRM subscriptions, and more.

Yet the biggest savings come from increased sales and conversion rates. By using more sophisticated workflows agents can process more deals and clients leading to each month closing more clients. Even a small conversion rate lift of a few percentage points yields huge dollar amounts.

According to the National Association of Realtors, the average real estate agent conversion rate is 05%-1.2%. If a custom app improves conversion rates to 1.5%, that’s thousands in extra commission per year based on the increased transaction volume.

The exact cost savings and ROI will depend on the real estate firm. Still, the optimization and performance lift that custom apps drive lead to substantial financial benefits for most agents.

Choosing App Developers

If you’re convinced that investing in custom app development is the right move for your real estate business, the next key step is choosing the right app developer. Here are tips on what to look for:

Real Estate Experience

Ideally, you want to work with a developer who has built apps specifically for the real estate industry. They’ll have a stronger understanding of real estate app development costs, common pain points and how to address them. They’ll also know how to incorporate MLS data, facilitate transactions, integrate with required software platforms, and comply with real estate regulations.

Local Experience

In addition to real estate experience, you also want a developer familiar with your local market. They’ll know the regional multiple listing services (MLSs) to integrate with, area comparables and statistics to include, as well as relevant city/county laws impacting private property transactions.

Portfolio

Vet some examples of a developer’s previous real estate apps. Check their app store ratings and reviews. Download the apps to test and ensure they have smooth interfaces and solid functionality.

Vision Alignment

Make sure that the developer gets on board with your long term strategy for using custom technology to grow your agency. They should understand and share your passion for how mobile apps can change the way real estate agents do business in your niche or market.

Communication Process

Find out how they like to communicate during app builds and what roles and responsibilities you and their team have. Make sure both sides will put in enough resources to finish and launch a project.

Post-launch Support

Ask them how they handle bug fixes, updates, new features, and app performance reports after launching the app. You want to know that the relationship survives the app’s launch.

Pricing Models

There are many different pricing models offered by development shops. The app could be anywhere from $50K to over $500K depending on the complexity and functionality of your app. Before signing any contracts understand exactly what’s included and how they charge for ongoing support and enhancements.

Final Takeaway

At around $100-150k for an average custom build, investing in real estate app development requires serious. given consideration But the positive operational impact and hard cost savings smart apps drive, most agents and agencies find the investment pays dividends.

The key is choosing an app development partner that is invested in leveraging technology to evolve real estate services as you are. Custom mobile apps give agents transforming tools to excel in the digital world with the correct solution. The agents who embrace custom apps set themselves up to win the future.