How Property Portals Can Change The Way You Manage Your Property Business
Real estate industry has undergone a complete revolution in the last decade. Earlier the real estate industry saw the domination of estate agents and brokers. These brokers either were working independently or with a property company. For buying or selling a property, there were very few options. With the rising popularity of the internet, the property business is evolving. Now, most successful property businesses have gone online. They have their elaborate property portals and mobile apps for the convenience of their customers.
Buyers and sellers now prefer to execute their sale and buy transactions through these portals. According to a recent report, for 42% of home buyers, the first step in purchasing a property is to look online. The same story made a revelation that 91% of realtors use social media platform. As a result, most property businesses are now using the services of a custom web development company. These companies develop functional portals and apps that allow realtors to market their services.
How a property portal can change the way you manage your property business
In the present time, a large number of potential customers are online. The primary target customers for property businesses are first-time home buyers. In most cases, these first-time home buyers are young professionals in their mid-30s. According to a report published by NAR, millennials constitute 35% of total home buyers in 2017. Customers in this age group are tech-savvy and like to conduct their search for a property online.
Sellers also like convenience on offer with property portals. They can list their property for sale or lease and avail property management solutions.
There are several other advantages available to a property business through a property portal.
1. Massive database of customers:
Having an extensive database of customers is essential for every property business. You need to offer services for buyers as well as sellers. Property portals allow you to tap a massive database of online customers. It is convenient for buyers and sellers to interact on your platform. Even if they are in different geographical locations.
2. Offer location-based services:
You can offer location-based services without increasing your expenses. For instance, develop a new page on your website for rental services and add a new revenue stream. You can thus diversify your business with minimal investment.
3. Extra revenue streams:
Property portals allow you to make more money through ads. Many new builders and developers will offer you money to list their properties. You can earn commission from banks by helping them generate leads. You can also charge for providing reports and preparing documents.
4. Verified Listings:
By deploying customized software on the portal, you can verify the listed properties. This will help cut fake profiles and enhance the trustworthiness of your services.
5. Easy to manage:
You can use property management software development services and create an easy to manage back-end for your operations. This will allow you to add, remove or update the listings as required.
6. Customization of services:
You can ensure customized services to buyers and sellers. This will help you effectively engage more customers.
7. Use Artificial Intelligence:
Using AI innovations can make your tasks easy. You can deploy chatbots to interact with customers and engage them. This will help reduce your overhead costs and free up human resources. You can hire chatbot developers to help with your chatbot requirements.
8. Centralized operations:
Most of your customers, i.e., buyers and sellers will contact you online only. This eliminates the need to have office presence at many locations. You can manage your operations from a central location.
There are many advantages that a property portal endows on your property business. It is thus beneficial for you to develop a property portal. You can take help of real estate website development services providers for this. This is also important for you to stay relevant in these changing times. Otherwise, you might lose out on your customers to your competitors.
Future trends in the Real Estate industry
Some of the key trends that will shape the future of the real estate industry are: –
- The popularity of property portals will zoom-up in the next few years.This does not mean that real estate agents will go away. They will continue to stay relevant but will have to become more organized.
- In the next 15 years, real estate will be a technology-driven e-commerce experience.Real estate portal and mobile apps will be the preferred medium for buyers and sellers.
- Commissions for realtors will continue to drop due to property portals
- Value-added services will become a prominent offering from property businesses.
Are you running a property business? Looking for a trustworthy property portal development solutions provider? Well. Your search ends with Signity Solutions. We are one of the most renowned real estate development company in India. Hire our outsourcing team of expert developers, coders, and programmers and they will create efficient portals and mobile apps for you. We have helped many clients from all over the world with our wide range of services. To develop customized portals and apps to help enhance your profitability and reduce your expenses, we have got years of experience. If you have any questions or doubts, feel free to get in touch with us. We will be more than happy to be of service to you. Contact us now.
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