Leveraging Mobile Apps in Real Estate
Generate customer loyalty and investor trust with a personalised, branded app
The Real Estate industry is typically slow to adopt new technologies and haven't fully taken advantage of personalised mobile applications around their brand to reap the greatest benefit of long-term client value.
Why is this?
Only top real estate developers invest into custom mobile apps to reflect their brand. They operate in the premium segment and need to differentiate so are not shy to invest into technology to gain a competitive edge.
Lack of knowledge means companies do not reap the benefits but rather feel the strain from having to manage an app and don't know how to do so effectively. This results in low adoption and refusal to invest further into making the app successful.
Companies are reluctant to disrupt existing business operations, preferring to stick to what works.
The Myth
Apps are expensive and require a lot of time to develop while also being costly and troublesome to maintain.
This is why only large companies invest into apps, those who can afford to hire a department to take care of app operations.
The Reality
Apps are not so expensive. We work heavily in this sector and our hands-off custom app packages come at a mere £5,000 per month. No need to worry about maintenance and growth since a team of app professionals handles this.
Custom apps, tailored around the brand and business take approximately 6 weeks to deliver. After that, maintenance and improvement. Pay as you go model allows you to cancel anytime thereafter, but you probably won't since the ROI that you'll get will far exceed any costs.
How is the ROI generated?
Custom branded apps provide key features for real estate investors, whether first-time buyers or seasoned professionals. Real estate purchasing decisions take time in most cases, people need to gain trust for the company before committing. In this market, it's so important to keep prospects in a value loop so they regularly interact with the brand and reap value from this even before making their first purchase.
Remember also, not everyone will have the financial means to purchase property, especially in the Elite sector. Real Estate companies from developers to brokers discard those people since they can't sell them... and they are leaving money on the table!
Profiting from the less wealthy
The wise will keep these people and turn them into users of their platform. This saves agents spending their working hours interacting with them for no immediate financial benefit, but will keep you brand live and valuable for the person. Profit comes in the following two ways:
Those that can't afford today will afford tomorrow. It's like the kids that see Porsches and Ferraris and will buy one when they grow up. It's because they value the brand and stay interacted with it. In the case of Real Estate, prospects that can't afford today may set their sights on purchasing a property in 2-5 years and if they stay connected with your brand and it has provided value over that time, they will buy from you!
If people like you, are connected with you and get value from you will share it. Everyone has some sort of network with whom they share news and information. They will share your brand too and essentially, become free marketing for you!
Summary
The Real Estate industry has huge potential, especially in developing markets where the market is booming and new construction is being built. The competition is high and custom apps are overlooked, leaving long-term benefits on the table.
Power in Numbers
£5,000
Starter Monthly Subscription
62%
Consumers expect personalised interactions
85%
Buyers are returning clients