Real estate is one of the biggest industries, with a $9.6 trillion investment in 2019, making it one of the most profitable businesses in the world. Real estate firms worldwide do their best to provide a wide range of services to their clients —tenants and landlords with the help of technology and human resources.
With the rise of the rental market for low- and mid-priced housing, the demand for real estate app development has boomed in the last couple of years. The sudden spike in technology adoption is due to the growing number of tech-savvy people. Top real estate agencies, including Trulia, Realtor.com, Keller Williams, etc., have started offering online services.
While real estate and rental search apps like Zillow, Redfin, Apartments.com, etc., are already ruling the sector, Zumper is the latest entry on the bandwagon.
Zumper has grown up as one of the best apps to find an apartment for rent in the United States, with around 12 million monthly visits. The rental app has taken many by surprise, while many of its competitors keep digging into the secret of its success. So, if you are looking to build a real estate or home rental app for tenants and landlords, this article will help you understand all the nitty-gritty details of Zumper.
Zumper Rental Application — Taking the Stress Out of Renting
Founded back in 2012 by Anthemos Georgiades, Zumper has become one of the most successful startups to raise more than $143 million in funds. The app enables tenants to search for desired homes in the regions they wish to rent. Meanwhile, the app also provides landlords with a robust platform to find millions of their desired and trusted tenants.
No doubt, the app for renting houses, Zumper lags behind the top real estate applications in terms of revenue. But, money isn’t everything; millions of users use this app and get their purposes served.
While comparing Zumper with Zillow on an independent reviewing site, G2, we found some amazing worth sharing facts;
What Makes Zumper the best Rental Search App —Top Features
Zumper is one of the top preferred options in terms of quality service and meets business needs. But, have you ever wondered what keeps the Zumper thriving —when you know this, you know its secrets of success. So, let’s reveal it.
A smartphone user has on average 80 applications on his/her phone but nearly 40 apps they use every month. The rest apps may be pre-installed by the smartphone vendor, or users have kept them for occasional use. So, as a realtor, you have to find a place in those 40 apps they use quite frequently. That means the app should be engaging enough to attract the users’ attention. Its features will play a key role in making the app engaging. Zumper did this smartly. Here’s how;
Features Based on Customer’s Pain Points
Zumper worked on the issues that customers across the United States were facing while using rental search apps. And, you will find that the app has all the features that solve customers’ issues effectively. And, most importantly, it is continuously evolving, coming up with new features that provide ease of operating the app. Let’s explore;
Pain Point #1: Easy to find affordable housing for rent
Finding desired and affordable housing using an online renting app has been a major issue in the real estate market. Tenants wanted to find houses with good infrastructure with affordable pricing.
How does Zumper solve this issue: Zumper provides Advanced Search and Filtering features. The feature enables users to search for their desired houses, providing them with every single detail, including location, price, surrounding information, schools, crime level, etc., of the house.
Pain Point #2: Lack of effective communication
If users send any message to agents, they get a late reply or no response at all. That’s the second big issue in the real estate sector.
Zumper solves this issue: Zumper provides Chatbots that answer the most common questions of tenants and landlords. Besides, they effectively maintain communication between tenants, landlords, and agents using real-time chat options.
Pain Point #3: Fail to Stop Rental Fraud
Whether it is Zillow, Trulia, Realtor.com, or Redfin, they don’t seem to have stopped rental fraud completely. According to the Apartment List, 5.2 million Americans have been victim of rental fraud, while 43.1% of renters in the USA suspected rental listings as fraudulent.
How does Zumper solve this issue: Zumper has taken many initiatives to stop rental fraud. One of the major initiatives is that tenants and landlords both can leave reviews for each other.
Besides, the Zumper app is developed with strict rules, including background checks, credit reports, and security deposits. When tenants search for a home to rent, he/she has to submit all these reports before they connect with landlords.
Zumper Marketplace Business Model
Zumper rental application supports both landlord and renter. It’s on a mission to revolutionize renting by making it a seamless and stress-free experience for everyone. Ease of finding and renting homes/tenants makes Zumper the most profitable business in less time as compared to its competitors. Let’s explore how it serves and makes money.
Reasons You Should Develop a Zumper-Like Rental App
Did you know IT in Real Estate was estimated at US$ 7.7 Billion in 2020 while it is projected to reach US$ 15.8 Billion by 2027 with a CAGR of 10.7% ( 2020-2027) globally?
Technology is evolving and coming up with new scopes every day. The future of real estate is widely dependent on technology. Taking a stalk over the top technology trends in the real estate sector will keep you updated. So, the first reason you should have a real estate app is to have the edge over the weakness and agility against the strength of your competitors. Besides, having a real estate app will help you with the following benefits;
#1: Visibility
Images and signs have an effective impact on human brains. Every time a user unlocks his/her phone, your real estate app logo and brand name will appear on his/her screens. It will directly or indirectly (according to hypodermic needle theory) will boost your brand visibility.
#2: Market Opportunity
According to a report online, 5.64 million existing and 6.8 million new homes were sold in the US last year (2020).
Almost 90% of searches for homes, including rental houses, are done online. That means having a robust and scalable mobile app and website will leave an effective impact on your business.
#3: Create Loyalty
Why should people download your app? They need a reason. And, you need to provide them with value. Your rental app must have something special, worth exploring, and consuming. Once you have all these things loaded into your app, it will not just help you gain users’ attention and make it the best app for renting apartments but also earn users’ loyalty.
#4: Efficiency
Real estate apps ensure you connect with valid and reliable leads. This is so because when someone downloads your app and gives the time of their day and space of their precious smartphone, they are most likely to buy or sell things. Sending customized offers, promoting services, sending push notifications, and taking customers’ opinions become easy with an app.
Things to Consider Before Building a Real Estate App Like Zumper
So, you are all determined to build and launch your real estate app? Building the best rental search app seems difficult at first glance, but it’s quite easy, especially when you follow the steps given below;
#1: Market Analysis
Anything without proper market analysis will result in indecision and inaction. Wouldn’t you like to know;
Unless you go through these questions, you can’t expect to build an engaging app. The best way to find solutions for all these unsolved questions is to “research.”
Research your real estate market, research competitors, find out their strengths and weaknesses, and define your audience.
List some of the best real estate apps, like Redfin, Trulia, apartments.com, Realtor.com, etc. Check out how these apps became popular and what separates them from one another. Now, deeply analyze these apps and figure out what these apps fail to provide to tech-savvy people —the pain points.
Now, you also need to think over the solution. It could be anything: it could be features, services, security, safety, usability, and so on. Make a list of solutions; it will help you when you build a rental search app.
#2: Brainstorm over App Concept
The success of your app will depend on how effectively it solves the problem. When it comes to real estate apps, you need to decide if you want to provide comprehensive services related to real estate or want to provide a particular one, for example, a rental service. If you are clear with your real estate business idea, the app will be based on that.
But, the thing you need to focus on is what separates your app from your competitors. This, undoubtedly, is not an easy part. But, this is where your market research will help you differentiate your app from others. All you need to do is ensure your app solves the issue that customers have with their current real estate apps.
#3: Consider Development Approach
Now the next step is to decide what development approach you want to go with. The development approach should be based on your budget and time. Each development approach comes with a unique set of benefits and challenges.
For example;
If you want to go with the budget optimization approach, you have two options to explore;
Hire freelancers: No doubt, hiring freelancers will be a cost-effective solution, but it will face some challenges. That means;
Then freelancers could be the option for you.
Clone Solutions: Clone app solutions are the best available option to save money and launch your project faster. Yes, you can get a clone app solution in a week of time, though it comes with a little risk-loaded.
For example, if your clone solution;
Clone app solutions come with a limited set of features and predefined UI/UX. With limited flexibility to add custom features, designs, or others, it might create issues in the later stage.
Now, if you are financially equipped, have time to launch your app and want to provide the best app to find apartments for rent, you can choose to go with;
Custom app development: It’s a bit costly and time-consuming, but you get a robust solution that lasts longer and saves money in the long run. All you need to do is find the best real estate app development company and build a robust application.
#4: Think about Features You Need Rental Search App
The next most important part is deciding the features of your rental application. Take the help of your research and analysis to integrate the best set of features. However, there are some common features that you can consider integrating to your app. They include;
| Tenants Panel: | Landlords Panel: | Admin Panel: |
|---|---|---|
| Onboarding | Sign Up | Onboarding | Sign Up | Dashboard |
| Search & Filter | Add/Edit Home/Information | User management |
| Location | Price | Listing database |
| Price range | Address | Complaint management |
| Rental types (condo, single, family home) | Photos | Real-time chat |
| Extra facilities (laundry, parking, a pool, a balcony, etc.) | Monthly rent | Notifications |
| Map | Home size, number of rooms | |
| Property in-depth information | Property type | |
| Reviews | Owner/agent description | |
| Real-time chat | List of amenities | |
| Contact us | Check tenants details | |
| Collect rent | ||
| Send invoices | ||
| Notifications | ||
| Real-time chat | ||
| Contact us |
A detailed study on how digital transformation in real estate market has caused market growth.
How Much Does It Cost to Build an App Like Zumper
Real estate app development cost varies depending on the two main factors. Such as;
A standard real estate app takes 600 to 700 hours, and if you are paying $50/hr, you may get your app for $30,000-$35,000. However, if the app is complex and takes more time, then the price will also increase.
Next, the cost will also vary depending on the development region and the development company.
For example, if you have partnered with an IT firm in the USA, UK, Canada, or other European countries, you may have to pay around $50,000 to $100,000 for a real estate app like Zumper.
However, you can cut the development cost down by 40-70% by outsourcing your project to an Asian country, like India, where you will get quality work at the lowest cost. For example, if you choose Excellent Webworld as your development partner, you will get cost-effective development services with guaranteed quality work that meets international standards.
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Conclusion
World’s population grows by leaps and bounds (83 million annually), creating a wide range of business opportunities in many fields. Real estate is one of them. If you are planning to build real estate applications or rental search apps, then it could be the best time to turn your idea into reality.
Indeed, 84% of people in the United States believe renting a home is more affordable than owning it. Why not take this opportunity and build a platform to serve the millions of people looking for affordable housing worldwide. Let us know if you have any questions or want to build an app for renting houses.
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