The eCommerce platform as a way to optimise operations in the property market
Digital technology is greatly simplifying operations in various market sectors, including property. Most processes have now moved online, empowering buyers and sellers. Against this backdrop, the demand for eCommerce platforms for the property market is growing.
Interest in these platforms stems from their ability to speed up the process of choosing a home and completing transactions. These solutions are websites or mobile applications with extensive databases of different properties.
The eCommerce products in this sector are ideal for finding a property to buy or rent. The user can choose from various options without using the services of real estate agents. They can arrange to view the property directly and obtain the necessary information, saving a lot of time and effort. More advanced platforms will be able to perform many functions, including preparing to buy.
The platform will be helpful for all participants in the sector. It can also be a source of additional value. The question is how to monetise its use. There are several ways to do this, including:
1. Paid listing. This option can include a fixed fee or a percentage of the advertised item’s value.
2. Commission for completed transactions. The amount is usually linked to the price of the listing.
3. Premium access. For a fee, participants can access advanced features, such as exclusive advertising or analytical data about the market.
4. Advertising promotion. Additional payment will increase publications’ ratings and bring them to the top of the search.
Another monetisation option is advertising. This is not only of interest to owners or estate agents. Advertising on the platform is one of the tools for representatives of related sectors, such as property developers, repair teams, or notaries.
Key elements of the eCommerce platform
An eCommerce platform for the property sector should be user-friendly for all users. To achieve this, paying attention to the client side of the functionality or front end when creating it is essential. This should include intuitive navigation and fast property searches. It is also important to provide the ability to use advanced filters for a more accurate selection of ads.
Separately, time is needed to develop the visuals and templates for the site. Mandatory elements should include a block for photos and descriptions of the object’s characteristics. A good option would be to place a high-resolution video. The page should also include the seller’s contact details and a form for contacting the seller. Optionally, you can consider other functions such as booking accommodation or making an online appointment to view the property.
Studying similar resources can be useful when developing a platform. This will help define key elements clearly and identify points to watch out for.