An Innovative Real Estate Bidding Platform

We helped an ambitious proptech company develop a comprehensive web platform for property search and bidding.

ABOUT
the project

Client:

Proptech Company

Location:

USA

Company Size:

20+ Employees

Industry:

Proptech

Solution:

Custom Software

Services:

Software Architecture Design

Custom Software Development

Web Development

Technologies:

.NET

Angular

Azure

SignalR

SQL Server

Google Maps

A minimum viable product (MVP) for an innovative proptech solution that provides a convenient property bidding functionality. It addresses several critical industry challenges, such as time-consuming manual workflows and limited property visibility. The app connects property owners with buyers and allows buyers to reach real estate agents who are selling unlisted properties. It perfectly aligns with broader trends that shape the real estate industry.

We took a flexible architectural approach to develop an MVP that can be efficiently scaled up and expanded with new functionality in the future. Our team worked closely with the client to satisfy all their demands and deliver a user-friendly version of the innovative real estate bidding platform with a convenient bidding logic.

Taras Shotik

PM at Leobit

Customer

The client is a U.S.-based holding company that works with customers from different industries. Proptech is one of their primary directions, as the company offers consulting services and support to both real estate agents and property buyers.

Business Challenge

The customer aimed to develop a comprehensive MVP capable of attracting solid investment in the short term. Our discovery phase services helped identify key industry challenges and workflows that the solution needed to address. Following this phase, the customer required an experienced proptech software development team to implement the initial version of the platform.

Why Leobit

The customer chose to work with Leobit due to our exceptional expertise in the real estate domain and our strong portfolio of successful projects. They were also impressed with how we conducted the discovery phase, during which they received a comprehensive roadmap for developing an innovative proptech solution.

Project
in detail

Before starting the active development, we successfully completed a project discovery phase. It allowed us to define the roadmap for software development and come up with a list of the application’s critical features. We also envisioned the most important stages of the given project.

Building the platform's core

At first, our team designed the solution’s architecture. To develop the solution faster and ensure its excellent scalability, we decided to go with a microservices architecture. The application was deployed in the Azure cloud, and SQL Server was chosen as its primary database technology. Our specialists used .NET to build the app’s back end. Meanwhile, Angular was chosen as the primary technology for front-end development.

Integration with various services

To ensure real and up-to-date data on real estate properties, our specialists integrated the app with MLS (Multiple Listing Services) – a comprehensive database of U.S.-based properties. The app was also integrated with Google Maps to ensure more convenient research on properties and real estate prices in a particular area. We also crafted a custom script that would emulate the signing of the contract.

Developing a bidding functionality

The Leobit team proceeded with developing one of the solution’s most critical features, namely its bidding functionality. We implemented custom logic where buyers can bid on a particular property while SignalR ensures that a property owner receives a timely notification on each bid.

MVP deployment

Once we developed the early version of the solution with its core functionality, our QA specialist tested it to eliminate any bugs. After successful testing, we deployed the MVP, which the customer then used to secure further investment.

Comprehensive functionality for adding properties

Our specialists crafted a convenient functionality that allows owners to add their properties. Such a user can add images and all the critical information on the property. Meanwhile, the system can automatically retrieve even more information on the added property from the listing. We also integrated the solution with the Attom data platform to retrieve historical data on properties.

In addition, the solution helps bidders find information on properties that have not yet been added to the platform by users. An API retrieves data on other properties from Slipservices, allowing bidders to connect with real estate agents and access even more property options.

Custom bidding system

To run property auctions, our specialists developed a custom event-driven auction logic. Buyers can place bids, and property owners receive instant push notifications about them. Owners can set time limits for each auction but also have the flexibility to accept any bid within that timeframe. The app also includes a buy-out option, allowing property owners to set a fixed price at which a buyer can instantly purchase the property.

Features for reviewing pricing dynamics

Users can view dynamic property listings and prices in a given area using an interactive map. Our specialists integrated the solution with Google Maps and implemented custom search logic to display similar properties nearby, along with historical data, helping users better understand pricing trends.

Technology Solutions

Custom auction logic based on event-driven notifications.
Convenient cloud-based solution with a flexible and scalable microservices architecture.
Integration with property listings and a script that automatically retrieves additional information on the property that is listed on the platform.
User-friendly functionality for searching property data based on the integration with Google Maps and custom search filters.

Value Delivered

An innovative real estate solution built according to the discovery phase roadmap.
A promising MVP solution delivered in less than 6 months.