The Mobile Real Estate Market

The effects of the digital age and the advancements we have seen in technology allow us to be connected to one another at all times through the internet and more recently, through mobile devices and apps. Real estate companies have noticed this trend and are taking advantage by bringing their services to these platforms—specifically to target mobile users. With the introduction of real estate apps, both agents and buyers have access to a plethora of information to post and research properties, schedule walk throughs, and even finalize purchases.

According to the California Association of Realtor’s recent survey of home buyers, more than eight out of 10 home buyers are accessing home information on their smart phones and computer tablets. This sample also showed that 85% of buyers used a mobile device during the home buying process; 70% accessing the Internet from smartphones while 15% were accessing it from tablets. It’s evident that in order for realtors to remain competitive in the market, they must adapt to the demand for mobile real estate information.

The most commonly used apps for potential buyers to access real estate information are Zillow and Trulia. Just this past March, there were nearly 92 million unique visitors to all real estate sites from both desktop computers and mobile devices/apps. According to ComScore data, about half of those visitors who accessed real estate network sites used a mobile device.

Another popular app for potential buyers is “Home Snap,” which allows users to “snap” an image of a property they are interested in, match it with their GPS location, and it will automatically generate sources providing a history of the property, price, size and features. This app also includes real time updates if the market price changes on the listing.

The incredibly high demand for real estate information requires realtors to be comfortable using new digital methods to sell homes. For example, there’s an app called “Open Home Pro” which creates a database of potential buyers to contact after an open house. This allows realtors to keep in touch with interested buyers after a showing they attended to gauge interest in that property. Even more exciting is that during an open house, a realtor can open the app “MagicPlan” which generates instant floor plans after scanning the dimensions of a room. This gives buyers a chance to envision what the home could look like with some additional work. Agents can even go as far as to finalize the documents of a purchase with “DocuSign,” which allows them and their client to sign the proper documents from a mobile device with a few simple swipes of the finger.

The real estate market is evolving rapidly, emphasizing a demand for easy accessibility of information when purchasing a home. Today, realtors and buyers can post homes, search homes and close a deal from their smartphones or tablets with the introduction of these creative and practical applications. These digital advancements have created a whole new way of doing business. These trailblazing technologies will change the way the real estate market functions even more in years to come.

David McCarthy is principal of six synergistic Keller Williams Realty offices in Newton, Framingham and Boston’s Back Bay, South End and Charlestown neighborhoods.Keller Williams Realty was ranked highest in overall satisfaction for buyers and sellers among national full service real estate firms in JD Powers’ most recent Proprietary Home Buyer/Seller Study. The largest real estate franchise company in the United States with approximately 700 offices and 80,000 associates around the world, Keller Williams Realty has grown exponentially since its 1983 start, and continues to foster an agent-centric, education-based, technology-driven business strategy that rewards associates as stakeholders.