Are you confused as to where to start if you want to rent out, buy or even sell your home using new technology and without brokers? You don’t need to worry about anything! This blog will give you a complete guide to build an app like NoBroker. NoBroker’s real estate platform is designed to streamline the buying, renting, or selling of properties.
NoBroker in India is a real estate application that connects property owners with buyers and renters directly. It eliminates the requirement for intermediaries like brokers or agents. It allows users the ability to view their ideal properties and suitable residents, without the need for intermediaries.
Thus, we will be discussing the steps needed to build an app like NoBroker. Also, the main considerations to keep in your mind for making your app successful. NoBroker’s key features are explained, as well as how to secure funding and implement a monetization plan.
What is NoBroker?
NoBroker is a popular real estate platform that has revolutionized the process of buying, selling, and renting homes. The site’s original concept of “No Brokerage”, which stipulates customers are not required to pay any broker fees, has made it a popular one.
NoBroker, a platform for real estate transactions, was launched by Amit Agarwal, Akhil Garg, and Saurabh Gupta in India in 2013. They are co-founders of the NoBroker Platform, which revolutionized real estate by providing a direct owner-to-consumer model.
A dedicated developer in Dubai may offer additional services such as virtual tours of properties, property verification, and documentation support.
These services enhance the overall user experience by streamlining the transaction process. It not only saves you time but also the brokerage fee. Both owners and properties can be rated and reviewed by users on this platform. This platform helps users to make informed choices and develop trust.
Real Estate App Development Market Overview
- NoBroker increased its revenue by more than 2,6 times to Rs 166.6 Crores in FY21 from Rs63.4 Crores in the prior year.
- In 2020, the market for real estate software was estimated to be worth USD 9,34 billion. From 2021 to 2028, this is anticipated to expand at a 9.7% compound annual growth rate (CAGR).
- Dubai’s real-estate industry accounts for 8,2 percent of the country’s gross domestic product.
- During the forecast period, it is estimated that the UAE real estate services will register a CAGR (compound annual growth rate) of around 5%.
How Does a Real Estate App Like NoBroker App Work?
NoBroker, a property finder app similar to others in the market, acts as a platform online that connects potential buyers or tenants with property owners. This eliminates the need for intermediaries like brokers and agents. An app like NoBroker uses technology, user-generated content, and data to make property transactions more transparent and efficient.
In order to use the app, property owners must first create a listing by providing information about their properties. This includes location, size, amenities, and rental or sales price. Users searching for property can use filters to search listings according to their preferences. These include location, budget, type of property, and more.
After locating a property that interests them, the user can view all of its details, including floorplans, photos, and virtual tours if they are available. Users can also find out more about the surrounding area, local amenities, and transport options.
NoBroker App allows users direct communication with property owners and verified tenants via the app’s calling or messaging features. The app allows direct communication between parties and negotiation, eliminating traditional intermediaries. Users can book property visits, negotiate terms and conditions, or finalize a transaction without the need for a third-party agent.
Top 5 Alternatives of NoBroker App
Now that you know how the NoBroker app works, let’s now look out for alternatives to this app that can help you to build an app like NoBroker.
Zillow is a well-known website for home buyers. The Zillow app maintains that quality. This full-service application offers an intuitive interface, as well as many tools to assist you at every stage of the buying or selling of a home. Users can filter and search for real estate listings – including a detailed view of the map – as well as see photos and 3D tours.
You can save listings, share them and receive updates. Zillow offers Zestimate, a proprietary tool that helps you determine whether a listing’s price is fair. Several businesses prefer to Develop the NoBroker app because it has a ton of mortgage tools including pre-approval and payment calculators. Zillow can also be used to locate and contact local realtors.
Realtor.com is another popular app to search for your next apartment or house. This app can also be used to find local real estate agents. The National Association of Realtors is the largest association of professional real estate agents. You can reach local agents via phone, email, SMS, or even video chat.
A wonderful place to look for a real estate agent is Realtor.com. But the mobile app also has a lot of listings. From price to property types to keywords, you can filter and search all of the criteria that matter. You can overlay data such as crime and noise to find the best area. You can even shop for mortgages right from the application.
Trulia is the best property finder app, no matter if you’re looking to buy or rent. With a variety of filters, you can sort available rental properties and real estate listings. From the number of rooms to dozens of amenities. Listings include photos and video, along with price histories and details of the property.
Trulia offers an extremely customizable map view that lets you overlay local data such as crime, traffic, and shopping. You can even see natural disasters. This will help you decide which neighborhoods are worth your time and attention, and which to avoid. Renters can reach the leasing agent directly from the application.
LoopNet, although most of its picks focus on residential real estate, is also a great app for commercial property. You can search commercial properties, find businesses for sale, or find commercial property for lease.
Listings are searchable using standard filters, such as price, area, lot size, and square footage. This Property Rent & Sale app can also search by keyword, submarket (which is a measure of the potential profit an investor would make on a particular property), cap rate percentage, or tenancy. Property types range from office, industrial, and retail to specialty and specialty. This allows you to view only the properties that meet your needs.
RedFin’s mobile app for real estate updates its listings every five seconds. You can customize your search by using the usual filters such as price, rooms, square feet, and keywords. You can compare the prices of recently sold properties and read the market insights for more information about the homes in your area.
RedFin is the best property finder app that allows you to “X” out properties that don’t fit your needs or favorites. You mark the properties you’re not particularly interested in. RedFin also allows you to search for local agents in your area. RedFin allows you to contact real estate agents, schedule home tours, and read RedFin agent comments for eligible listings.
NoBroker Real Estate App: Features You Should Include
We will explore the most important features of on-demand app development like NoBroker, both for agents and for their clients. I’ll begin with the most common features, then go over those that are specific to agents and buyers. If you want to separate the features, either create two separate apps or make two user roles for one mobile application. It is best to build an app like NoBroker which is a web-based app for administrators in order to moderate the platform.
It should be as simple as possible to sign up. You might use social media accounts to sign in. You can register users using their phone numbers or by email. However, don’t make it mandatory to onboard at the beginning. Allow users to check out your app before registering.
2. Personal profiles
Agents and buyers have different personal profiles. Agents need to be able to see the properties, schedules, as well as profiles of buyers who have contacted. When browsing listings, buyers should have a list of properties that they liked.
3. Databases and Listings
Your application will be successful if you have a big database. This is a key feature and you need many listings to attract potential buyers. The listings should include information from the database.
4. Categories and filters
The hardest part of the process is looking for the ideal home to buy or rent. It’s important to include advanced categories and filtering options in your on-demand service app. These are the tools that most buyers will use.
5. Property profiles
A property profile must include detailed information about the property. Include more photos and a description, as well as a list of prices for rent or purchase. Homebuyers can also call an agent to inquire about the property.
Customers should be able to select properties that they are interested in to help them make a decision. Favorites should be displayed in the profile of a user or menu.
Analyses are crucial for all applications. If you want to track the growth of your business, it doesn’t matter if you use a platform that lets real estate agents interact with customers or an app just for your agency.
If you are developing a realtor application for Android, it would be best to consult an android app development services provider. It is important to compare and gather data from different apps. The user behavior for each category of users will be different.
Analytics can provide you with valuable insight into the performance of your app, but they also show you just how successful your business plan is. Analytics can give you valuable information about your target market so that you can adjust your strategy to suit their preferences.
8. Price calculator
Add a mortgage calculator to your mobile application to help users calculate the final cost of a home, including interest. The calculator must be comprehensive, and allow users to enter the price of the house, their initial payment amount, the interest on the loan, and the period for repayment.
9. Call Button
The first step to buying a property is a website or a mobile app. Calling an agent is the best way to help users move through your sales funnel. You can provide users with different options to reach an agent.
- Call Button
- Callback Button
- Online chat
- Request for a Consultation
Maps provide a wealth of valuable information for buyers. In addition to showing the location of properties, you could also display data and statistics for different areas. These statistics aren’t hard to come by: you can usually find them on government websites.
Your maps can include information on average incomes, crime, risks from natural disasters, infrastructure, and school locations. All of this information will allow users to make better decisions.
11. Push Notifications
Push notifications serve two purposes. They retain users by reminding them of your application so that they will use it more frequently. You can also use them to notify users of important events.
- Price changes
- New properties are available in an area
- You can get the latest updates on your property
You can take help from Mobile app development solutions in UAE to Personalize push notifications that will send relevant messages that are of value to the user.
12. Real Estate Agent Profile
Real estate apps should contain a database that contains profiles of brokers. This allows them to show their ratings, credentials, and properties. The agent can use this to market his services, and manage clients.
Agents must be able to upload a property to their own catalog. They can add photos and descriptions, as well as edit the listing if required. In order to make your platform credible you need a verification strategy so that buyers can be sure of what they will receive when they contact a real estate agent.
How to Build an App Like NoBroker?
Now the main question arises “How to Build Real estate mobile app like NoBroker”? Well, it can be possible by just following the below steps and also by taking help from professionals. So, let’s briefly describe the steps to build an app like NoBroker.
1. Market Analysis
Researching the market allows us to gain the most information possible about an industry. It’s a crucial step, and it allows us to design an affordable platform. If you want to build an app like NoBroker, then you need to know what buyers and sellers expect. As soon as you have the app, start collecting its core features and tools.
2. Validating Features & Options
You will need to determine your target market at this stage and what they enjoy when using the application. A real estate app is designed to be attractive to both agents and customers. It focuses on features and categories that are appealing to both. While developing your app, make sure to include all of the above features.
3. Select the Technology
Now let’s get to the technical aspect. The app will be able to handle millions of records. In order to avoid using only the dedicated server it is best to use external databases and integrate APIs that communicate between different databases. API technology can be used to create directories and maps.
4. Designing Phase
The first thing that comes up during the initial stages is a reliable, feature-rich app. This will attract users. Visualization will determine if the app will survive in the market. It is vital to Hire dedicated programmers for the alluring UI/UX of the app development. The simple user interface, simple backdrops, simple navigation, cross-page functionality, swiping movements, etc. These are only a handful of the design elements that are crucial for apps in real estate.
5. Development Phase
The next stage is the Real Estate Application Development after wireframes and MVP have been developed. Before the final execution, they give you the app to test for bugs and errors. As you build the app, make sure that the data will be protected. You can also use the data for understanding the users and improving the design.
6. Testing Phase
It is possible that testing can extend the duration of the development process, as the testing procedure involves multiple testing procedures in order to make sure the app functions efficiently after the launch. It is essential that you perform unit testing, integration testing, and user interface testing to ensure your app works without errors.
7. Final Launch
The app will be launched on the market after all testing is complete. This isn’t the end of the process. The app could have issues or bugs when the technology is updated. In the real estate sector, there is a greater chance that data will be added. Post-launch maintenance must be performed periodically. Once the application has been launched on the market, how do you maintain it? How do you monetize the app? It allows for better management and optimization of work.
Monetizing Real Estate App like NoBroker
Your App should be profitable. After you build an app like NoBroker, your ultimate goal should be to increase revenue. Real estate investors should invest more in your app if it is the best. Let’s check out some monetization methods or nobroker business models a real-estate company should adopt.
1. Professional Advertising
NoBroker uses professional advertising as its most common model. When agents and brokers promote their service directly to leads for a small fee, they have the opportunity to speak with prospective leads.
2. Simple Advertising
A second way to make money is by using well-known ads, which appear in nearly every app. You could start making money with a few views or taps. You will still benefit if you keep the App for free.
The more users you have, the greater the return on investment, since users are always searching for something to get for free. The UX of the App is the only negative. The app is still worth it. More ads may not look professional.
3. Freemium Model
The name implies that this model is completely free. The user must buy a Premium Account to get access to the other features, like no advertisements, neighborhood info, and so on. mortgage calculator, etc.
Tech Stack Needed for Building an App Like NoBroker
In creating an app, the technology stack plays a vital role. For your app to be robust and quick, you will need to know which technologies are essential for your app. Here are the technologies used by real estate app developers to build an app like NoBroker.
|Application Designing||Adobe Photoshop Canvas Flips|
|iOS Application Development||Swift/Objective C on Mac OS, iPhone SDK|
|Android Application Development||Java, JDK SQLite, Kotlin|
|Backend Development||PHP and MySQL|
|Video Calling API||Twilio|
|Database||CoreData Frameworks or Realm Frameworks – The Onboard Informatics Community|
|SDK files||Firebase SDK, Facebook SDK|
|Database||Zillow app, MapBoxGoogle Maps apis, SimplyRets iHomeFinder, iHomeFinder APIs Spark APIs. Spatial Neighborhoods APIs. Google Places.|
Technology Trends for Real Estate in 2023
Prices for real estate have become more sensitive to changes in the economy. The demand for housing has also increased, so people are seeking more effective ways to link owners, agents, buyers, and renters. These technologies are used by modern real estate firms to enhance their services.
1. Big data
The use of big data enables us to process and store large amounts of data and to gather information on each user in order to predict their behavior and make decisions. Artificial intelligence and big data are combined in real estate to provide users with the exact information they need. Additionally, you can use big data technology in order to build an app like NoBroker.
Due to its transparency and ability to verify documents, blockchains are widely used in the real estate industry to help prevent fraud. Users can double-check each document to ensure no one is able to make changes. Blockchain can also reduce the amount of red tape by avoiding endless mediators and their fees.
3. Artificial intelligence
This is used primarily to analyze user preferences and requirements in order for the best and most personalized suggestions to be made. It allows the user to save valuable time. AI can assist with the management of property by tracking price changes, listing changes, and processing maintenance requests. AI can also assist with risk management by analyzing market prices and tracking changes in listings.
4. Augmented reality and virtual reality
Augmented Reality helps increase sales by helping renters and buyers visualize the property after they purchase it. AR is great for remote virtual tours: This saves time and helps buyers and vendors market their properties.
Cost to build an app like NoBroker
The cost to build an app like NoBroker is dependent on several factors. The complexity of an app, the size, and location of a development agency hired, as well as the number of developers, are just a few. Let’s calculate how long it will take to build an app like NoBroker.
|Business analysis and project specifications||96+ hours|
|UI/UX design||160+ Hours|
|iOS development||400+ hours|
|Backend development||450+ hours|
|Admin panel||96+ hours|
|Project Management||160+ hours|
If your app is going to have the same features as those above, along with the same technology stack we discussed a few months ago, the cost to build a NoBroker app would be in the $25,000-$50,000 range.
This is the range that was chosen after we analyzed the technology and features stack. Modifications to the sets will automatically change the price.
To ensure that you are on the right track, take assistance from Real Estate App Development Solutions you can develop an MVP before investing the whole budget in your app.
NoBroker requires time and effort to develop, but with a proper and unique approach, it is possible for you to build an app like NoBroker that meets the needs of the users. Understanding the features of NoBroker and conducting market research will increase your chances of success. However, if you have a roadmap, it will be easier to build an app such as NoBroker by taking help from a Real Estate App Development Services provider. This app offers a superior experience for users and is tailored to the needs of those in the real estate sector.