As the National Association of Realtors' Profile of Home Buyers and Sellers reveals, only 29% of homebuyers found their dream homes through realtors. This statistic underscores the undeniable power and growing influence of proptech platforms in shaping the future of real estate transactions.
Whether you are a real estate professional, a property developer, or simply an enthusiast in the industry, incorporating cutting-edge features into your platform is essential to stand out from the competition and offer an unparalleled user experience.
In this article, we will explore the must-have features that every PropTech platform should offer. Read on and discover how these innovations can elevate your PropTech platform to new heights!
One of the key metrics of success in a platform is the number of users it manages to harness. To increase that number, the platform doesn’t only need to be intuitive to use but also welcoming. What we mean by this is that creating an account and coming back to it needs to be made simple.
For example, a great way to achieve this is to allow users multiple authorisation options, such as via social media, email, or phone numbers. If the platform is simple enough to use, another way to make onboarding more enjoyable is to skip the tutorials. On the other hand, that feature might come in handy for more complex and professional platforms.
If the platform itself is a paid product, you obviously need to make this transaction another step in the onboarding process. However, if there are in-app purchases that aren’t necessary for the new user, opt out of presenting them to the user immediately upon signing in.
Having an option for a virtual tour of any property is sure to expand your customer base. With it, you’ll be able to reach people who are, for any reason, unable to make it to an in-person viewing or who simply do not have enough time.
Another perk of integrating this feature into your PropTech platform is that it is going to save you some money. Your agents don’t have to be available at all times anymore, and the property won’t need to stay squeaky clean and presentable at all times – polish it, scan it, and it’ll always look its best on the platform.
No PropTech platform would be complete without property listings. Some might even argue that it is a key feature of any real estate app or software, but that really depends on your business and its goals. Still, having this feature makes the platform richer in valuable information for the buyer and expands the user pool.
Property listings will bring in more users who are looking to sell or buy property and give them the space to learn or leave all the information they need. Although this market is pretty large, with enough time and effort, your platform can become a household name, like Zillow – especially if you enrich it with the other innovative features from this article.
On the other hand, property listings can be a great place for landlords and investors to advertise their properties and services. Giving this audience this tool means that you’ll be boosting sales activity while simultaneously raking in more high-level users.
Filters and Search
A sound filter system is crucial to increasing your user satisfaction levels – they can’t make purchases if they can’t find what they’re looking for. That is why investing in an intricate filter and search system will allow you to increase your sales activity as well. The most important thing about a good system is that it has to be based on user activity. For example, if you notice that a keyword such as ‘with pool’ is frequently entered into the search bar, it means that having that filter would make the customer journey that much smoother.
Since your platform will have to sort out all the listings very quickly in order for the platform to work, the analysis and processing of the data will also have to be sped up as much as possible. For that to work as intended, you’ll need a good IT team to handle this task – and Valcon can offer you the right support. All you need to do is leave us a message, and we’ll put you in contact with the right team.
Maps are one of those features that aren’t just very useful but also relatively easy to integrate. For example, it is possible to go into a partnership with a known provider, such as Google Maps or Apple Maps. This way, the users are already familiar with the interface and won’t need any tips or tutorials to use it.
On the other hand, it’s also possible to create a custom ‘maps’ page, although it will take some additional time and effort. The advantage of this approach is that the users won’t only be able to see the location of the property but some additional information as well, which can be fully customisable. For example, the map feature on Zillow shows an image, the size, and the price of the property.
Even without these additional facts about a property, the map can still be a useful addition to your platform. Not only will it allow potential buyers to find the location more easily, but also see whether there are schools, markets, and recreation venues nearby. The ability to visualise everyday life in a new home will make the buyer’s decision to make a purchase that much easier to make.
Direct Messaging and Calls
Another feature that is also straightforward and easy to integrate is a communication system. Ideally, it should consist of both messaging and calls, although even just one will be a very valuable addition.
This feature has numerous benefits for all users. Streamlined communications reduce time spent on emailing back and forth, waiting for a response to a request, and overall make the processes faster and more efficient. The communication can flow between both sellers and potential buyers to boost sales activity, but there is one more use that shouldn’t be undervalued.
The message and call channels can be used to facilitate communication between tenants, landlords, managers, and handymen. This means that your platform doesn’t need to become obsolete once the process of purchasing a property is complete.
As you can see, these 6 platform features we listed here bring with them some considerable benefits. The key features discussed in this article included:
- Streamlined onboarding processes,
- Virtual tours,
- Property listings,
- Improved search and filters,
- Maps, and
- Communication channels.
And luckily, plenty of them aren’t that difficult to implement into your system either. That means that, with the right support, your platform can become a cutting-edge solution for buyers, sellers, and managers alike.
Build a PropTech Platform with Valcon
In order to integrate all these features and make your PropTech platform really stand out from the competition, you’ll need the right IT team to support your vision. Valcon has multiple satisfied clients from the PropTech industry who can testify to our devotion and professionalism.
Whether you need just one upgrade or an entire platform built from scratch, we’re here to offer our services throughout your journey. Get in touch with us today, and let’s start working on your idea!