How to Build Websites for Real Estate Online Auction from Scratch?
When we talk about real estate online auctions, the target audience is the people who want to buy or sell the property as soon as possible but with profitable amount. In this scenario, most of the sellers are home owners, agents or asset managers while any person who is interested to buy becomes a buyer. Auction websites for real estate may vary in functionality like some may allow free registration & others are open exclusively to license holders. The best thing about auctions is that they provide attractive offers, which attracts buyers. Let’s find out everything you need to know about Real Estate Online Auction Software and how you can build it to make it a success.
Things to Keep in Mind while building Online Auction Software
The most important thing while building real estate auction websites is the features you are offering to your customer i.e. home sellers and buyers. We have shortlisted some of the best features to consider while developing real estate auction software for business. They are listed below-
1. Account Registration
Whether it’s the sellers/buyers or the investors, they must be able to create profiles for the online home auctions. As every user has different roles, ensure that you identify user’s roles efficiently for smooth communication within the auction platform.
2. Online Bidding Process
When we talk about real estate online auctions, the event duration is limited by the seller and the whole bidding process lasts only until the allotted time expires or until only one bidder remains.
3. Add Listings
Your online auction software should enable home sellers to add a new property listing when they have the property to sell and modify/update the information anytime they want. They should be able to add details such as number of bedrooms, bathrooms, neighborhood detail, etc.
4. 3D Tours
Your system must offer 3D virtual tour functionality using the latest technologies like AR/VR and ensure that buyers are able to take a quick virtual tour of the property anytime without the need of physical visit. This gives a better understanding of the property layout, size, etc.
5. Advanced Search Criteria
Implement advanced search feature in your real estate auction platform to help users find the property of their choice. The filter options should include ability to search by preferred location, number of bedrooms, property type, price, etc.
6. Bidding Panel
Give your users a convenient space to keep track and monitor all their activities with ease. Your dashboard should include sections such as favorites, notifications, bids management, statistics, reports, etc. This is beneficial for buyers as well as sellers enabling buyers to save the shortlisted properties and sellers to analyze market reports to set the property price.
7. Auction Calendar
The auction calendar acts as an important feature for your real estate online auction platform. This helps users to search for the upcoming auction events using search filters such as event name, location, property type, etc. to keep track of real estate auctions without fail.
Final Thoughts
Hopefully, after going through the article, you must have got an idea on how to develop successful real estate online auction software for the growth of your business. However, make sure that you take time to analyze the real estate platform type and build MVP after finalizing core features for better results. If you are planning to boost an online presence, get in touch with the expert team of the leading real estate development company to develop real estate software solutions of your choice.
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