The ultimate guide to real estate app development: types, features, process, costs

Real estate mobile app development is becoming increasingly important as modern consumers are looking for more advanced ways to hunt for their dream homes rather than spot yard signs or print newspaper ads. Buying or selling a property is something almost everyone ends up doing sooner or later.

In fact, a recent NAR report claims that 75% of homebuyers in the 24 to 42 age bracket are using their mobile devices to scout out properties. Given the high demand, the niche started undergoing serious tech makeovers, experiencing a surge in real estate app development.

But it's not just homebuyers catching onto the mobile trend – even big-shot leaders admit that the niche has always seemed a bit conservative. Deloitte’s real estate outlook shows that 60% of the industry’s movers and shakers believe that proptech solutions can become the real game-changers for their businesses.

It seems that real estate app development companies will have a lot of work ahead in 2024. If you wonder how to build a real estate app, make it profitable, and maximize its potential, you've come to the right page. In this post, we’ll explore the real estate app types, features, costs, and exciting tech transformations that are reshaping the future of the real estate scene.

What is a real estate mobile app? 

What exactly is a real estate mobile app? In general, real estate mobile apps are built to streamline and optimize various aspects of real estate activities, from search and rental to property management and transactions. They should solve specific problems for defined user groups rather than attempting to cater to everyone at once.

Creating a real estate app that will comply with the needs of every type of user is essentially impossible; the app will be bloated, with too many features that most clients never use. This is why the target audience of your app will guide the business model and type. 

Why is developing a real estate app a great business idea?

The real estate industry is a vast and rapidly evolving market, with numerous opportunities to build an innovative real estate app.

Although the presence of established real estate platforms like Zillow and Trulia may give the impression that the market is saturated, the reality is that there is still significant room for "growth" and disruptive real estate apps to thrive. Here's why creating a real estate app can be a great business idea:

• Growing market demand. According to the report provided by the National Association of Realtors, over 80% of Millennials and 78% of Generation X used mobile devices to find their housing. Moreover, 68% of new home buyers agree that mobile apps make the home-buying process easier and more efficient.
• Expanding market. The Real Estate Software Market Size and Share Report by Grand View Research states that the global real estate software market was valued at USD 10.24 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.8% from 2023 to 2030.
• Investment in real estate technology. 35% of real estate professionals use drones for marketing and property inspection, and 28%​​ use artificial intelligence and machine learning in their real estate business, according to the Realtor Technology Survey 2024 made by the National Association of Realtors. 
  
• Going beyond standard models. Real estate apps can be developed not only for property search, purchase, and rental but also for industry professionals, investors, construction companies, and other professional users. This allows for the creation of unique and in-demand solutions.

Overall, the growing demand for real estate technologies, significant investments in this sector, and the ability to integrate advanced technologies make creating a real estate app an attractive and promising business idea. Let's take a look at some of the most common real estate app types in the next section.

Real estate app types

Real estate apps cater to different needs, whether you're in the market for a new home, managing properties, or just exploring the possibilities. Let’s discuss the most popular ones:

Property search apps

Want to browse homes as if you’re scrolling through social media? Property search apps make it happen. Platforms like Zillow have revolutionized the way we explore potential properties by offering an extensive database of listings, from cozy apartments to sprawling estates.

These apps not only let you filter through homes based on your preferences but also provide valuable insights into neighborhoods, school districts, and local amenities.

• Example: Zillow

Real estate investment apps

Real estate investment apps have emerged as powerful tools, providing users with a streamlined way to explore, analyze, and invest in real estate opportunities.

One of the standout features of such apps is the ability to invest with relatively small amounts of money, known as fractional investing. This democratization of real estate allows users to own a fraction of a property, sharing in potential returns without the need for hefty upfront investments.

• Example: SmartCrowd

Property management apps

Juggling multiple properties can be exhausting, but property management apps make it a breeze. In fact, this type of real estate app acts as a digital assistant, bringing transparency to the rental process and facilitating communication between landlords and tenants. 

With the convenience of mobile access, tenants can submit maintenance requests, pay rent online, and more. Landlords, on the other hand, benefit from automated processes, such as rent collection, financial tracking, and other aspects of property management. 

• Example: TenantCloud

Mortgage calculator apps

Crunching numbers is a crucial part of the home-buying journey. Mortgage calculator apps help you figure out the financial nitty-gritty such as estimating monthly mortgage payments, analyzing different loan scenarios (e.g., a VA loan calculator), and planning budgets with precision. 

The key advantage of mortgage calculators is their versatility. Users can input various parameters such as loan amount, interest rate, and loan term to instantly generate estimates of monthly payments.

• Example: Rocket Mortgage

Real estate app development: most essential features

"The growing demand from millennials and Gen Z for mobile solutions for finding and managing rental housing is a key driver of growth in the rental app market. Generations raised in the digital age expect the entire process from search to lease signing to be as intuitive and convenient as possible. 

Therefore, developers need to focus on creating comprehensive apps that combine best practices and killer features to deliver an exceptional user experience."

Natalia Ivleva, Business Analyst at SolveIt

What functionality defines a user-friendly real estate app? Here are the core features:

1. User profiles

User profiles are the crucial step in the real estate mobile app development, as they offer a personalized experience for buyers, sellers, and agents alike. With individual profiles, users can save preferences, track property searches, and receive tailored recommendations. For sellers and agents, a dedicated profile serves as a professional storefront, showcasing expertise, past transactions, and client testimonials. 

2. Property listings

Every real estate app needs a comprehensive database of available homes and commercial spaces. These listings offer vital details such as property size, amenities, pricing, and more. The ability to present properties in a clear, organized manner ensures that users can easily explore and evaluate potential options.

3. Filtering options

In essence, filtering options transform a real estate app from a mere listing platform into a personalized discovery tool. Whether it's searching by location, price range, property type, or amenities, filters empower users to narrow down the search by their preferences, save time, and minimize frustration. 

4. Property profiles

Property profiles serve as the digital resumes of real estate listings as they provide the necessary information for users to make informed decisions. From the number of bedrooms to special amenities, this feature helps to showcase the unique selling points of a property and attract potential buyers or tenants.

5. Saved favorites & history

The ability to save favorites and view search history adds convenience to the search process by allowing users to reflect on their preferences and revisit potential choices. For sellers and agents, this feature provides insights into customer preferences, helping them tailor recommendations and understand the evolving needs of their audience.

6. Map integration

Can you even imagine searching for your future home without a map? This is rather a rhetorical question. Map integration is a must-have feature in any real estate mobile application development. Like a visual compass, maps allow users to explore properties based on location, proximity to important infrastructure, and the surrounding environment.

7. Real-time notifications

Push notifications keep users in the loop about relevant updates in this competitive market. Whether it's new property offers, price changes, or messages from potential buyers, this feature ensures timely communication. It is unlikely that anyone wants to miss a sweet offer or let competitors steal another deal, right?

8. Cost calculator

Cost calculations are a nice-to-have feature in the context of real estate application development. Such calculators assist users in understanding the monetary aspects of property transactions and make the process more manageable. Moving costs can vary widely depending on the type of mover you choose, the size of your home, and the distance of your move.

For increased user satisfaction, ensure that the calculator is detailed and projects the final amount by displaying various aspects like the range of the initial payment, applicable taxes, and more.

9. Communication tools

Facilitating seamless communication between buyers and sellers is one of the essential aims of real estate mobile app development. As such, adding features like in-app messaging, contact forms, or scheduled callbacks can transform a real estate app from a static platform into a dynamic marketplace where users can ask questions and seek feedback.

10. Reviews & ratings

Testimonials can add a layer of trust and a community-driven environment to a real estate app. This provides users with insights into the experiences of others who have engaged with a particular property, seller, or agent. Plus, reviews and ratings encourage sellers and agents to maintain high standards of service.

11. Calendar

Calendars serve as organized planners for users, helping them manage property viewings, meetings with sellers or agents, and key milestones in the buying or selling process. This feature ensures that crucial dates and tasks are not missed.

Desirable features for advanced real estate apps

In the previous section, we covered the essential features of a real estate app. Now, let's explore some advanced features to make your development experience smoother if you decide to build a more complex application.

Integrated payment processing

Payment integration within an app enables users to securely handle all financial transactions, such as rental deposits or other types of payments, directly within the app. This streamlined payment functionality removes friction from the process and provides a unified user experience.

Virtual tours

Virtual tours allow users to explore properties in 360-degree format, providing a comprehensive online viewing experience that helps potential buyers and renters visualize the space before scheduling an in-person visit. This function is really beneficial for large companies, property firms, or just wealthy real estate businessmen whose time is so valuable that they need to decide on buying or renting right now. 

Predictive search and recommendations

Your app will benefit a lot from leveraging machine learning algorithms to analyze user preferences and browsing history, then proactively suggest relevant property listings, neighborhoods, and even estimated costs. You can also provide “neighborhood insights” — detailed, data-driven information about different neighborhoods, including school ratings, crime statistics, amenities, average home values, and other key factors. 

Augmented reality (AR) 

The integration of AR functionality enables users to virtually place and customize furniture, decor, and other important design elements within a property's digital representation. This opens up an opportunity for buyers or renters to visualize what the space should look like, with a touch of personalization to their preferences. It will help them make more informed decisions without needing to physically visit the property and complete more conscious deals.

Chatbot

In the era of artificial intelligence business ideas, you can use chatbots to offer intelligent, personalized assistance and respond to user queries in real-time. This conversational interface acts as a dedicated virtual agent, providing helpful information, recommendations, and guidance to users as they navigate the home search and rental process.

E-signature

This feature streamlines the documentation process by helping users securely sign necessary agreements and contracts within the app without the need for physical paperwork. This digital signature functionality provides a convenient way to move transactions forward efficiently, enhancing the overall user experience.

Real estate app development process

"Despite significant progress in rental app development, programmers still face a number of serious technological challenges. 

Key among them are ensuring user data security and privacy, especially for financial transactions and personal information. Additionally, integrating with real estate management systems and payment gateways requires substantial engineering efforts. Optimizing the UI and enhancing usability for diverse user demographics also remains a critical task."

Natalia Ivleva, Business Analyst at SolveIt

In this section, we break down the real estate app development process into strategic stages:

#1 Discovery stage

Kicking off with the discovery phase, the primary focus is on gaining a profound understanding of the target market, competitors, and user base. It’s important to conduct extensive market research to identify trends and gaps within the real estate tech landscape.

The main goal here is not only to conceptualize an app idea but to align it with the specific needs and expectations of your potential users.

By the end of the discovery, you should have a comprehensive app development roadmap, mentioning clear goals, core functionalities, and a strategic vision for the app's journey from conception to the moment when you exactly know how to launch an app.

#2 Design stage

As the app idea solidifies, the design phase takes center stage. This is where the vision of the app transforms into a tangible, visually striking interface. 

The most important aspect of real estate app design is embracing a user-centric approach. The design should prioritize intuitive navigation, providing users with an optimal experience on smartphones and tablets. Mobile app wireframe examples can help illustrate how to achieve this.

Plus, real estate mobile application development should envisage great visual elements such as high-quality imagery and, where applicable, virtual tours. Clear, aesthetically pleasing visuals can spark user interest in listed properties.

#3 App development stage

Turning design into a functional reality comes with a set of challenges. First of all, your app must be able to process large amounts of data. Since real estate apps rely heavily on up-to-date data, including property details, market trends, and location-specific information, you should ensure the seamless integration of databases.

Another challenge in real estate mobile app development is the emphasis on visual content. Make sure your team is skilled enough to create an immersive and visually pleasing experience, leveraging cutting-edge technologies like AI or augmented reality.

To play on the safe side and ensure a quicker release to market, we often recommend our clients start any app development process by building an MVP first. This approach enables stakeholders to allocate resources efficiently and validate the app's concept with minimal costs.

If you’re looking for a trusted real estate app development company that provides MVP development services, don’t hesitate to drop us a line now!

#4 Testing stage 

Rigorous testing is conducted to identify any possible bugs and guarantee that the app operates smoothly across various devices and scenarios. Mobile app testing is critical for safeguarding the app's reliability and user satisfaction.

We consistently emphasize to our clients that testing should accompany every stage of the development lifecycle to optimize overall efficiency. Codeless automation testing tools can be used for this purpose.

#5 Launch and post-release support 

The success of the app launch is often influenced by the strategic planning and meticulous execution of the previous stages. A well-executed launch involves effective marketing strategies, user engagement initiatives, and leveraging the feedback from the MVP example you have built to make final adjustments.

It’s a common misconception that the process ends with the app launch. Going forward, you should keep making your app fresh by refining the existing features and adding new ones along the way. Thus, you’ll be able to build long-term relationships with users and position the app as a responsive solution in the competitive real estate market.

Cost considerations for real estate app development

Developing a comprehensive real estate app requires carefully considering a range of cost factors. Below, you can see the crucial factors that affect real estate app development costs.

• Complexity of features. A basic real estate app with essential features like property search, listing details, and contact forms may cost in the range of $40,000 to $100,000. However, adding more sophisticated features such as virtual property tours, augmented reality visualization, integrated payments, or predictive search can easily drive the price up to $150,000 or higher. 
• Platforms. Developing for multiple platforms (iOS, Android) is more costly than a cross-platform solution with Flutter or React Native. Additionally, ensuring a seamless user experience across different devices and screen sizes also factors into the budget.
• Design and user experience. Quality UI/UX design can cost from $15,000 and more, including user research, wireframing, prototyping, and UI design. 
• Backend infrastructure. Developing a robust and secure backend can cost $15,000 to $30,000. The cost will be composed of backend systems powering your real estate app, such as property data management, geolocation integration, push notifications, and secure payment processing.
• Ongoing maintenance and updates. Post-launch support and regular updates will require 15–25% of the initial development cost annually to keep up with evolving user expectations and market changes.

Carefully planning and keeping in mind these factors will help establish a realistic budget to create a successful real estate application.

Real estate app development [SolveIt experience]

Now let us share one of our unique cases in real estate mobile application development. Our team was approached by Hemie to provide project rescue services and complete the development of a rental platform that had been started by another vendor without causing time or cost overruns. We had to review the overall conception of the app – from design to revenue generation.

The main challenge was to stabilize the app and fix the existing bugs to ensure uninterrupted operation under increasing user load. Additionally, there was a need to modernize the design and update the backend. The process was divided into several stages: rethinking the app's architecture, redesigning the UX/UI, and implementing a monetization strategy.

One of the standout features we introduced was a groundbreaking third-party exchange, redefining how users rent properties by facilitating direct exchanges between landlords.

Within 6 months, we successfully delivered fully-fledged iOS and Android apps, which are already available at the app stores. The project resulted in a revamped app with minimalistic Scandinavian visuals and an improved user experience. Now our team is working on a web app that will connect the users' experience through any device. 

"Their innovative approach, combined with their commitment to our project's success, truly sets them apart. We anticipate a 50% improvement in user engagement and a 30% reduction in loading times."

George Mata, CEO at Hemie

Wrapping up

As we explored the essentials that define the current state of real estate application development, it became evident that the key lies in making strategic user-centric choices.

Consider the option of hiring a dedicated team to build a real estate app? SolveIt stands ready to be your partner in this journey, offering expertise, innovation, and a commitment to delivering apps that stand out. Let's discuss your project today!

FAQ

1 | How to build a real estate app?

Here’s a step-by-step process to build a profitable real estate app:

1. Conduct market research to understand the target audience and identify industry gaps.

2. Design an intuitive user experience with striking visuals, like high-quality property imagery. Prioritize intuitive navigation, providing users with an optimal experience on different screen sizes.

3. Start with building an MVP. Develop the app with seamless integration of databases and create a visually pleasing experience, leveraging cutting-edge technologies like AI or augmented reality.

4. Rigorously test the app across devices to guarantee reliable performance.

5. Implement effective marketing strategies and continuously refine the app based on user feedback.

2 | What are the most essential features of real estate apps?

The key features of your upcoming real estate app are:

• User profiles

• Property listings

• Filtering options

• Property profiles

• Saved favorites and history

• Map integration

• Real-time notifications

• Cost calculator

• Communication tools

• Reviews and ratings

3 | How much does it cost to make a real estate app?

The cost to develop a real estate app can range from $40,000 for an MVP with essential features up to $100,000 or more for an advanced app with complex functionality like virtual tours and integrated payments. The final cost depends on factors such as the app's complexity, platforms, design, backend infrastructure, and ongoing maintenance requirements.

4 | How long does it take to develop a real estate app?

The time for developing a real estate app can be 3–6 months for a basic app, up to 9–12 months for a more advanced application. Factors that influence the development timeline include the complexity of features, the platform(s) being targeted, the design and user experience requirements, and the backend infrastructure needed. From our experience, a realistic timeline for a full-featured real estate app is 5-8 months from start to finish.

5 | What are the most common types of real estate apps?

Some of the most common real estate app types include:

• Property search apps

• Real estate investment apps

• Property management apps

• Mortgage calculator apps