How Much Does It Cost to Develop A Real Estate App Like Magicbricks?

Did you know that 90% of home buyers start their property search online? However, still several buyers have to face difficulty with outdated listings, lack of transparency, and complex transactions. This is where an app like Magicbricks comes into the picture. As the real estate industry is continuously undergoing a digital revolution, businesses need to develop an app like Magicbricks to stay ahead of their competitors.

Platforms like Magicbricks have already set a new benchmark in the real estate industry by offering AI-powered property recommendations, virtual tours, and seamless transactions to buyers, sellers, and agents. Therefore, making it convenient for people to buy, sell, or rent properties within a few clicks. After witnessing their success, property dealers, real estate businesses, and startups are now looking to build similar apps to tap into this growing market.

But, before you kickstart your development process, one of the biggest questions that most real estate business owners have is, how much does it cost to develop a real estate app like Magicbricks?

The average cost to build an app like Magicbrick can vary between $30,000 to $150,000 or more. It can vary based on several factors such as advanced features, technology stack, development team, and app complexity. That’s why you need to consider several relevant factors before setting your budget.

If you are a property dealer or running a real estate business, this blog will help you discover the cost of building a real estate app like Magicbricks. You will also get familiar with the factors influencing it, and the must-have features to make your app successful. So, let’s get started :

What is Magicbricks & How Does It Work?

Magicbricks is one of the top real estate platforms that connect buyers, sellers, and real estate agents. It provides various advanced features & functionalities such as property listings, virtual property tours, mortgage calculators, and AI-driven recommendations. That’s why, with the help of the Magicbricks app, users can easily browse properties, compare prices, contact sellers, and even book site visits. Moreover, the demand for such apps is high as they offer a seamless mobile experience to their target audiences. You can also work closely with top real estate app development companies to build a feature-rich app like Magicbrick and stay ahead of your competitors.

Why Develop a Real Estate App Like Magicbricks?

You should invest in developing a Real Estate App Like Magicbricks as it presents numerous business opportunities. Here are some valid reasons :

• Continuous High Demand – Due to the digital shift, online property searches have increased. Thus, by building an app like Magicbricks, you can gain the attention of potential target users.
• Revenue Potential – You can make the best use of various monetization options such as premium listings, ads, and commissions. This will help you to generate higher revenue.
• AI-Powered Insights – With the integration of advanced technologies such as AI, you can enhance property recommendations and market trends analysis.
• Convenience for Your Target Users – Building an app like Magicbricks also eliminates the hassle of traditional real estate dealings.

Read More: Real Estate App Development: All-inclusive Guide to Pave Light in your Path

Key Features of A Real Estate App Like Magicbricks

Apps like Magicbricks incorporate several features such as AI integration, data analytics, and customer-centric features, which makes it a go-to platform for real estate transactions. This is another reason that Magicbricks stands out in the real estate market due to its innovative features. Moreover, it also aims to enhance the property search and transaction experience. You can also incorporate such features & functionalities into your real estate app to ensure its success & growth. Here are the key features that make Magicbricks a special app :

1. Advanced Property Search & Filters

Users can search properties based on location, budget, property type, amenities, and more. Not only this, Magicbrick leverages AI-powered recommendations that help users find the best-suited properties within a limited time.

2. 360-Degree Virtual Tours

Magicbricks app also allows its target users to explore properties remotely with immersive virtual walkthroughs. Thus, it saves time for both buyers and sellers by reducing physical visits. If you are planning to build a feature-rich real estate app, make sure to provide your users with a 360-degree virtual tour for their convenience.

3. AI-Powered Price Trends & Insights

The integration of AI in real estate apps provides real-time market insights and helps target users make informed investment decisions. Additionally, with AI-driven analytics, users can easily predict future property value trends. When they can make more informed decisions, they are more likely to navigate your real estate app.

4. Instant Connectivity with Agents & Owners

When you develop an app like Magicbricks, make sure to incorporate chat and call options to facilitate direct communication between buyers, sellers, and agents. This will help in reducing dependency on middlemen. Thus, making transactions more transparent.

5. AI & ML-Based Personalized Recommendations

Artificial Intelligence & Machine learning algorithms analyze user behavior to suggest the best matching properties. By providing personalized recommendations, you can enhance user experience by making property discovery more intuitive. You can build an AI-driven real estate app by partnering with a globally recognized mobile app development company as they have years of experience to leverage emerging technologies into your app.

6. Home Loan & EMI Calculator

The Magicbricks app has gained success as it integrates loan assistance and EMI calculators to help users plan their finances. Users can compare loan offers from multiple banks without any hassle. Therefore, while building a real estate app also make sure to provide such features & options.

7. Real Estate News & Legal Advice Section

It offers expert advice, legal documentation guidance, and the latest real estate news which keeps users updated with property regulations and market changes. The more information you provide to your users, the more interest they will show in your app.

8. Rental & PG Listings with Verified Owners

Popular real estate apps like Magicbricks have dedicated sections for rental properties and PG accommodations with verified listings. This helps target users to check background-verified landlords and tenants.

9. AI-Powered Chatbot for Assistance

Your real estate app should also have a 24/7 chatbot that helps users with queries, property searches, and transaction guidance. It will also ensure seamless navigation and customer support. A leading real estate application development company can help you seamlessly integrate AI-driven chatbots and other functionalities into your app. So, you can freely reach out to them.

Read Also: How AI Chatbots are shaping the Future of Businesses?

10. Augmented Reality (AR) for Property Visualization

Popular apps like Magicbricks leverage AR technologies into their app which allows users to visualize property interiors using AR before making a decision. Therefore, integrating technologies such as AR VR in real estate apps provides a more interactive and engaging user experience.

Factors Affecting the Development Cost of Apps like Magicbricks

Several factors that directly influence the cost of developing a real estate app like Magicbricks are mentioned below :

• App Complexity & Features – The more advanced features and functionalities you want to incorporate into your app, the higher the overall cost.

• UI/UX Design – A high-end UI UX design with smooth navigation requires skilled developers. So, hiring an experienced mobile app development team and designers can also hamper the cost.

• Technology Stack – The technology stack that you choose such as Native (Android/iOS) or cross-platform development also directly affects the   and Magicbricks.

• Third-Party Integrations – If you are looking to integrate payment gateways, AI modules, and analytics tools or third-party integration, the cost will go up.

• Team Location & Expertise – Developers from different regions have varying rates. So, before you hire a development team, do consider such relevant factors.

Cost Breakdown for Developing a Real Estate App Like Magicbricks

As you now understand the factors that affect the real estate app development cost, it’s time to discover the actual investment required. The cost of developing a real estate app like Magicbricks can range anywhere from $30,000 to $200,000. However, as mentioned earlier, it depends on the features, technology stack, and overall app complexity. The more advanced your app, the more resources and budget you’ll need to allocate.

So, let’s break down the cost estimation based on app complexity:

However, this is an estimated cost breakdown. To get an accurate cost analysis, it’s best to discuss with a well-recognized real estate app development company that can evaluate your specific business needs, preferred technology stack, and required features. Moreover, a well-planned budget will help you develop a real estate app that meets market demands and ensures long-term success in the competitive industry.

The Bottom Line

Building a real estate app like Magicbricks is a strategic investment that can help you drive immense growth in the property market. However, by integrating advanced features & functionalities such as AI-driven recommendations, virtual property tours, and seamless transactions, these apps are shaping the future of real estate.

The cost to develop a real estate app like Magicbricks varies based on features, complexity, and the development team you choose. If you are looking to build a basic app, it can cost you around $30,000, whereas the cost of a feature-loaded app with advanced integrations can exceed more than $150,000. However, you need to partner with an experienced real estate app development company to build a cutting-edge, scalable, and user-friendly platform that stands out in the competitive market. Working with them will help you provide a complete roadmap and build your real estate app within a limited budget. So, connect with industry experts today and kick-start your project.