Real estate apps are still exploding in popularity. Real estate app developers have monetization opportunities in this rapidly growing niche. How do real estate apps generate revenue? We've outlined some simple ways you can make money with your real estate app to get you started on the path to monetization.
7 Ways to Profit from Real Estate Apps
-
Access for a Fee
The first and most obvious way to profit from real estate apps is through paid access. You can charge a monthly or annual membership fee for premium features, or you can require a one-time payment. Access to more detailed property information, more robust search filters, and other features that are only available to paying members are examples of such features.
-
The Premium Business Model
If the paid access model does not work for you, the freemium model is another way to make money with real estate apps. In this model, you provide the app for free but charge for premium features via paid add-ons. For example, you could provide a free app that includes property search, but for $10 per month, agents can gain access to the ability to post for sale signs, view full listing data, and view a map of all nearby properties.
-
Publications
Ad revenue can be generated if your real estate app is not tied to a specific real estate company or is not focused on specific features. There are a number of ad-supported real estate apps available. You can also integrate ad networks into your real estate app and monetize it with the revenue generated by their ads.
-
Paid Promotion
If you have a real estate app that is linked to or features the listings of a specific company, you can charge that company a monthly fee to advertise their properties on your app. In fact, if your real estate app is solely focused on the listings of one company, you can charge that company to be the sole advertiser on your app.
-
Real Estate Agent Promotion
If you have a real estate app that isn't affiliated with a specific company or doesn't feature the properties of a specific company, you can still monetize it through advertising by charging real estate agents to advertise on the app. You can charge a flat monthly fee or use a pay-per-click advertising model in which agents are charged each time someone clicks on their ad.
-
Virtual Tours and Show Homes
You can make money with your real estate app by charging real estate agents a set fee per listing if your real estate app focuses on specific features, such as showing homes or providing virtual tours. You can also charge real estate agents to list a show home or provide virtual tours.
-
Streamings in Real Time
If you have a real estate app with listings, you could provide virtual walkthroughs of properties on the app. You can, however, take this a step further by providing live streaming of open houses. Real estate agents can be charged a fee to have their open house live streamed.
How Much Does It Cost to Create a Real Estate App Similar to Zillow?
It all depends on the app's scope and the features you want to include. Expect to pay between $2,000 and $7,500 for a basic one-screen app with limited functionality. You can expect to pay between $20,000 and $150,000 for a more advanced app with multiple screens and more functionality. Zillow has been in business for nearly two decades, so it has a proven track record of success. The Zillow app currently has a 4.5-star rating in the Apple App Store, indicating that it has been a huge success.
It's worth noting that Zillow was able to broaden its reach with this app because it's not a one-time purchase like most software.
Finishing up
Real estate apps provide a unique opportunity to monetize your app and earn money from your developer skills. Real estate apps can be used to make money in a variety of ways. You can charge for app access or premium features. You can also monetize your app by using an ad-based model or charging for ad space. I hope this article has assisted you in making money with your real estate apps!