Real Estate Software Development: A Guide for Real Estate Businesses

Real estate software development is among the most recent trends in the IT industry.

It is not a secret that the real estate industry is highly competitive. As a result, this competition leads to integrating and offering new and innovative customer services, which must be user-friendly and propose new unique features to the end user.

Combine it with the prevalence of various software solutions, mobile devices, and online platforms, and you will understand why real estate software development solutions are gaining popularity.

Nevertheless, access to a broader target audience and offering user-friendly software solutions to compete in the market are not the only reasons to consider real estate software development. Apart from that, software-driven real estate shows better results in multiple fields, bringing a lot to the table.

Therefore, to dot the i’s and cross the t’s, we wrote this guide on real estate software development, where we will explain:

• What are the key benefits of software development for real estate
• What types of realty software development exist
• How the custom software development process looks like
• How to choose a proper development company
• What are development best practices
• How to benefit the most from real estate software development solutions

Key Benefits of Real Estate Software Development

Let’s start with the basics.

Like any other software solution, real estate software development offers a certain level of process automation, which can be implemented by a single dedicated software team. This creates a more usable and friendly environment for business services or monitoring and managing various business processes.

Enhancing Customer Experience

One of the most apparent benefits of realty software development is enhancing customer experience.

Having a working website or even a full-fledged mobile application makes it much easier and more convenient for customers to use the services of a real estate company. Instead of talking on the phone or visiting an office, they can simply monitor a realty marketplace online, choosing among the preferred options for further investigation.

Besides, it can always be improved by integrating and implementing new UX/UI patterns, innovative solutions and features, etc. Moreover, such integrations can be embodied by a single developer in terms of team extension services.

Improving Data Management and Analytics

Real estate software development solutions are data-first. To rephrase it, real estate software development operates data to fulfill tasks.

Data management practices are already included in any software solution. These practices are mainly limited to a basic level. Still, even this basic data management can help handle and analyze data.

Moreover, real estate software development can include additional improvement and scaling of data management and analysis solutions to increase the efficiency of data-related processes.

You can also design and set up various data processing patterns, use specific methodologies, and implement instruments for data analysis automation, migration, formatting, etc.

It can include dealing with customers' personal data or information about real estate assets, data mining, data-driven decision-making, and market trend identification.

To cut a long story short, real estate software development and integration brings a prosperity of choices and solutions for deepening your business awareness of the industry and market, users' preferences and demands, etc.

Enhanced Productivity

Software development for real estate helps to improve business productivity and efficiency.

For example, it can include real estate management software development, simplifying and improving management practices, and offering advanced software-driven methodologies and solutions.

Besides, there are countless software solutions for process automation. So, your team can save time and effort by streamlining manual tasks and prioritizing more complex or important tasks instead.

Productivity and overall business performance are among the main benefits of software integrations. Multiple solutions and systems are designed to upscale certain aspects of any business, regardless of its niche or industry. They start with simple plugins and APIs, which increase the number of offered services, and end with complex applications like CRMs, MLS, and other management systems.

Better Decision-Making

Real estate software development services also provide businesses with practical decision-making solutions.

For illustration, even the most straightforward data management software can be easily upscaled and used for Big Data management and analysis, suggesting faster and more accurate predictions and valuable insights, which can help to make a better choice in the result.

Custom real estate management software will bring great value to businesses in this industry. It will help define market trends and users’ expectations and demands, learn your target audience, and improve asset management and tracking.

Nevertheless, the software’s “helping hand” is defined by the realty software development project type, which shapes the set of features and services.

Types of Real Estate Software

Real estate software development types vary by:

1. Operational platforms it is based on
2. Use purposes it is designed for
3. Property types it is working with

By Platform

Web-Based Software

Real estate web development is a standard solution for creating property marketplaces and realty business websites.

Web app development services are the best approaches for such real estate business goals because:

• Web-based applications offer access to a great target audience because they can be reached from any device with Internet access.
• Such real estate software development services are much cheaper than full-fledged application development for desktops or mobile devices.
• Web-based real estate software development takes less time, reducing the development-to-deployment time.
• Websites and web applications have certain limitations in functionality, Still, these limitations do not impact the must-have features for marketplaces or their performance.

Additionally, web platforms are a popular real estate management software development solution. Once again, developing a web-based platform for real estate management is much cheaper and faster, making it reachable from almost any device.

Moreover, combining web applications with cloud software development practices makes it even cheaper, safer, and more efficient. Finally, real estate web development is more flexible regarding data management, sharing, and processing, which are the most critical factors for productive management systems.

Mobile Applications

Real estate mobile app development is also famous for creating realty marketplace platforms.

Still, this approach is more resource-intensive and demands more skills, time, and experience. However, the reason for considering real estate mobile app development is the possibility of integrating more advanced features, unsupported by web platforms.

For instance, it can be a virtual and augmented reality (VR/AR), offering users a virtual guide to the property. Artificial intelligence (AI) is also a widespread integration for such applications, creating a seamless user experience and enhancing other services.

Eventually, if you have enough resources to maintain a real estate mobile app development project - it is better to consider it seriously.

The final and most crucial benefit of platform-specific applications is their much higher scalability range than web-based solutions. To rephrase it, having a standalone application creates prosperity for further scaling and functional integration.

By Purpose

Use purposes for your future software also highly impact the final product.

Clearly, if you are considering real estate CRM software development, it won’t offer the same features as a web-based marketplace and vice versa.

Property Management Software

Property management software development is one of this industry's most flexible and least demanding projects.

The reason for this is simple: several ways, some of which do not require software development, are possible to meet the business needs and expectations.

Simply put, property management software has much in common with other management software solutions. So, there are many ways and off-the-shelf solutions that can be used instead of maintaining a full-cycle software development project from scratch.

For instance, many ready-made management systems are distributed as Software-as-a-service solutions. So, instead of wasting time and resources, businesses can simply find the most suitable SaaS and integrate it into business.

However, saving development time and resources has its price. When choosing off-the-shelf management software, a business has to understand that it has no control over and impact on the software.

So, when the company scales or needs new features and solutions, the only way to achieve new demands is to either find a new solution or maintain its property management software development project.

Besides, custom real estate software development might seem less beneficial initially. Yet, it will pay off in a longer perspective, being cheaper and more flexible for fast-growing realty business.

Real Estate CRM Software

Real estate CRM software development is essential for any business that aims to succeed.

Customer Relationship Management (CRM) software helps to track, analyze, and improve interactions with clients, ensuring the success of your communication with potential clients.

Once again, CRM systems mainly share the same features, regardless of the industry or niche specifics. Nevertheless, most of these standard features are the most essential instruments designed for client relations management.

So, if you want more flexibility and control over client-oriented communication or can personalize services and user experience - you need custom CRM software development.

Custom CRM systems offer a more flexible structure, options for further software integrations, and other valuable benefits that can’t be met in many ready-made software systems.

Real Estate Investment Software

Unlike the rest software systems for the real estate industry, software for real estate investment has unique requirements and demands.

First, real estate investment software must visualize and provide users with convenient interfaces. In other words, realty investment apps must provide a user-friendly experience and infographics, making it easier to understand the investment revenue.

Such applications mainly aim to gather, analyze, and visualize the income from each asset. Integrating the best data management practices can also be beneficial, helping with data analysis and suggesting market predictions.

However, significant landlords are not the only users interested in such software. For instance, it can be used by households, hotels, or other companies, that maintain large property. For example, building companies can also significantly benefit from having such solutions at hand.

Real Estate Transaction Management Software

To cut a long story short, real estate transaction management software offers solutions for managing and tracking various transaction processes and documentation.

It is a centralized platform where all documents and transaction data are stored. Besides, it can offer various supplemental tools like calendars, reminders, pop-up notifications, and other small features.

Having such software under the hood simplifies tracking transactions, staying aware of recent events and agreements, etc.

A significant advantage of such software is that it can be integrated as a set of features into existing management systems instead of being developed as a standalone application.

Multiple Listing Service (MLS) Software

Real estate MLS software development is about creating a marketplace-like application that aims at realty brokers regarding real estate software development.

To simplify, MLS is a platform for cooperation and collaboration among property brokers. It helps share information about recent assets for sale or rent and encourages other market actors to help distribute them.

This powerful tool allows even the most minor brokers to compete with industry giants. Such software development is relatively simple to embody. Yet, choosing ready-made solutions over custom development might be more beneficial: such systems are based on collaboration and active users. When you create a new MLS system - you will also have to find ways to motivate other actors to join your shared base.

Unless you already cooperate with a few real estate companies, you might consider developing a personal semi-private cooperation platform for you and your partners. Then, such custom real estate software development projects won’t be a challenge.

By Property Type

Eventually, real estate software development might vary depending on the property type. One of the most important factors worth including in your real estate software is the possibility of choosing between commercial and residential real estate.

Frankly, the main difference between commercial and residential real estate software is the data to show and operate.

Commercial Real Estate Software

It is better to include additional aspects like location ratings, local taxes, etc., and the renting/buying price.

In conclusion, when developing commercial real estate software, it is better to provide potential tenants/buyers with all the information to benefit their business and success.

Clearly, businesses have much more data requirements than regular house buyers: the more data a company has, the more accurate its estimations can be.

Residential Real Estate

Residential real estate software demands are totally different. Potential residential property buyers are not interested in client reach or other valuable business information.

Instead, you should prioritize valuable household information, such as the state of infrastructure, the nearest stores, schools, etc.

The Development Process for Real Estate Software

Frankly, software development for real estate has no significant difference from any other type of software project from a general perspective. Each software development process requires the same 6 must-have phases:

1. Business analysis
2. Software design and prototyping
3. Developing and coding stage
4. Testing and QA process
5. Product deployment and implementation
6. Post-launch support and maintenance

The difference between custom real estate software development and other IT projects lies in details: chosen tech stack, features to build, suitable software solutions to choose from, etc.

Business Analysis

Any real estate software development company will start by analyzing your business. This allows your contractors to learn the main issues and demands. It is almost impossible to create a successful software product without knowing the overall business context.

Business analysis is a key step in finding the most effective way to deliver demanded software products.

Design and Prototyping

After learning the business needs and expectations, your dedicated team will create a prototype of future software products.

Thus, you will see the final result, how it will look, what services and features it will provide, etc.

At this phase, business owners should examine the prototype, discuss it, and suggest implementation changes. Thanks to prototyping and discussion, both parties can stay on the same page and understand the tasks clearly.

Development and Coding

The name of this stage speaks for itself.

At this moment, software development teams are building an app by coding. To cut a long story short, during this phase, developers are embodying features and creating IT infrastructure, informing business owners about recent progress and challenges they face.

At this stage, a business company's responsibilities are narrowed down to keeping in touch with developers, discussing progress, and navigating the developers by prioritizing tasks.

It is essential not to interfere in development by micromanaging every process. Trust your software engineers; they are most certainly aware of what they are doing and how to do their work right.

Testing and Quality Assurance

After coding an app, your team should also perform testing and quality assurance to find and fix bugs or other issues.

Still, it doesn’t mean that the QA team is engaged only after the development stage. In most cases, quality assurance specialists are already involved in the development stage, following the new code units and testing them for bugs.

However, most bugs and code errors are fixed after the development phase, making it easier to avoid unwanted impact on the rest of the code and interrupting the developers from their main task.

Deployment and Implementation

When most crucial issues are fixed and quality assurance is successful, developers can deploy the code and push an app to live.

Post-Launch Support and Maintenance

Finally, after the application is live, it doesn’t mean your technological partner’s responsibilities are over.

After the successful launch, it is important to support and maintain the app for some time. This helps to look for bugs once again and ensure that everything works as supposed to.

During this phase, developers commonly work on improving software performance, polishing the product, fixing minor bugs, etc.

Choosing the Right Development Partner

The success of software development highly depends on the reliability of the development partner. To help you find a real estate software development company capable of delivering the desired product, we suggest you follow the short checklist.

Clearly Define Your Project

First of all, you should clarify your project and demands.

To simplify, you should have a clear understanding of your idea before contacting the software development team. Still, having a clear understanding is not enough. Most likely, before starting real estate software development, your contractors will ask many development-related questions.

You will also have to clarify everything in detail to estimate the scale of work better and fully understand the most suitable solutions.

For example, “I want an app with high performance” is insufficient. Instead, try applying metrics and more specifics: “We need a web application that will show more than 90% performance results in certain testing tools”.

Consider Partnership Models

After discussing your ideas for the project, you should also choose a partnership model. How will you cooperate with the development team, whether it will be an in-house or outsourced team? Offshore or nearshore? Will it be an agile or plan-driven development? Fixed price or time and material?

Frankly, there are countless questions waiting for answers.

Evaluate Development Companies

Once you have defined the basic requirements for the development team, you can begin looking for a real estate software development company.

The easiest way is to monitor B2B platforms like Clutch, GoodFirms, or any alternatives. Such services gather all vital information about software development companies and display them in a user-friendly way. There you can find almost everything you need to choose potential software partners:

• Feedback and reviews from previous clients
• Recent case studies
• Technologies and industries developers are familiar with
• Links to other platforms and website
• Average development costs

Still, these B2B platforms do not display all the information, so it is better to list possible development companies for further investigation. The company’s website usually suggests more data on its experience and expertise.

Review Portfolio and Case Studies

So, after you have a list of companies you are interested in, you can visit their websites to learn more about them and narrow down the list.

Case studies are probably the most valuable website page. There, you can find not only recent projects but also an overview of the overall portfolio. Additionally, companies commonly divide cases by industries or tech stack, making it even easier to find the most experienced team, that matches your demands.

Check References and Reviews

Finally, don’t underestimate references and reviews from the clients. Once again, both can be found in case studies and on B2B platforms.

Apart from reading text reviews, you can also contact these companies for more detailed reports, primarily if these companies work in the same industry or offer similar services. As a result, you can get an even more profound analysis of the company’s suitability for future tasks.

Best Practices for Real Estate Software Development

Finally, we can also recommend some best practices for benefitting the most from real estate software development services.

Prioritize Mobile Accessibility

Don’t underestimate the importance of mobile devices. According to Statista, 96.3% of users use various mobile devices to access the Internet.

Mobile phones have already become an everyday tool used for all types of tasks. So, taking care of mobile accessibility of your future real estate application is a must-have step. Besides, it is not limited only to mobile app development. In fact, even real estate web development includes adjustments and mobile suitability.

There are multiple practices and options to ensure the high efficiency of web apps on mobile or any other devices, so use them.

Focus on User Experience

User experience is also a must-have option. The various UX/UI designs and methodologies for improving these metrics suggest countless ways to ensure a seamless user experience.

Still, one of the best tactics for creating the best user experience in a real estate software development project is to gather and analyze user feedback. As a result, you will not only learn about possible bugs or issues or users' needs but also get a chance to learn about the demands and expectations of your target audience and plan future project scaling according to these requirements.

Ensure Scalability

One of the most significant advantages of custom real estate software development is complete control over the software application. So, it is preferred to discuss the potential scalability of software in the future.

Therefore, software engineers will design development to ensure this future scalability and avoid possible code conflicts or other issues.

Leverage Advanced Technologies

Finally, it is preferred to integrate advanced and innovative technologies in your real estate software development project.

However, don’t rush your decisions. Take your time and discuss such ideas with developers. They can suggest the best and most beneficial solutions, which they are familiar with and know how to handle.

Innovations not only increase your competitiveness by supplying users with unique solutions but can also bring a lot of value to the business, offering process automatization, enhancing data management and analysis, etc.

Still, to benefit the most from these innovations, you should make sure that your real estate software development services provider is capable of developing and integrating them and that your audience is expecting such options or will use them regularly.