Incorporating Offline Features into Real Estate Online Software
Real estate is the largest asset class in the US and is worth a whopping $40 trillion. To break it up, residential real estate is the single largest tangible asset in the US, roughly worth around $23 trillion while commercial real estate is worth around $15 trillion. There is no doubt that technology can and will play a pivotal role in leading real estate marketers towards innovation. The primary focus of the online real estate industry has moved on from just offering listing services for residential/ commercial properties to leveraging technology for offering high-end services to their clients.
Broadly speaking, some of the biggest near-term opportunities for real estate innovation are described below:
- Mobile Applications: The real estate business is an industry that is forever mobile; brokers, consumers and landlords can often be found doing business while on the move. In such circumstances, building a robust and effective mobile application can work wonders for both the client as well the business.
- Listing Services: Technology-enabled listing services offered by real estate agencies can help them level out the playing ground for both marketers as well as consumers. These services, if utilized and implemented well, are set to phase out the current, less efficient model of relationship-driven property dealing.
- Property Management: Highly sought after as well as highly important for any real estate business, property management has already been leveraged using technology to track and oversee assets. The industry-wide management of property management software is still limited, but there are huge growth opportunities for the marketers in the near future.
All of these aforementioned services have been overhauled by the real estate agencies in collaboration with technology solutions being offered by a web development company. The real estate services have gone on to inherit and list all of their erstwhile offline activities onto their online web portals. There are even multiple instances of real estate online auction software, which has been designed and developed to facilitate the effortless conduction of property auctions on the web, which can be viewed as an extension of the on-site auctions.
The web developers in California have gone so far as to offer customized modules of real estate online auction software to their real estate business associates. This customization of the software module is designed to accommodate and implement all or some of the following capabilities:
- A Multiple Listing Services module that can display all commercial or residential properties up for auctioning.
- The inclusion of a Calendar option that would enable users to mark upcoming auctions and bookmark the dates for the same.
- A “Demo Bidding” module can also be integrated to allow users to learn and discover the nuances of participating in an online auction.
- Web developers in California can integrate an automated bidding module that would allow participants to automatically refresh their bids until the amount, set prior to the event, runs out or the bid closes.
- The inclusion of “Event-based Registrations” in the real estate online auction software module can enable users to enroll themselves for only specific auction events.
On a closing note, the offline instances of the real estate industry have found a way into their online instances, whether it is a website, a mobile application or even in standalone auction modules.