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Software Discovery Phase for a Real Estate Bidding Platform

Software Discovery Phase for a Real Estate Bidding Platform hero

ABOUT
the project

Client:

Proptech company

Location:

Country flag

US

Company Size:

20+ Employees

Industry:

A comprehensive and innovative solution to the current challenges in the bidding process and closing deals for selling properties, such as time-consuming manual workflows and limited visibility of available properties. The app will bridge a critical gap between property owners, real estate agents and buyers and align with broader trends in real estate.

Quotation marks Quotation marks

We immediately dived into customer requirements and goals to find a perfect market positioning for them. We also crafted a detailed work breakdown structure (WBS) with cost projections for each development phase allowing the customer to plan their budget and avoid its overruns.

Uiliia Berezenko, BAO at Leobit

Iuliia Berezenko

BAO at Leobit

real estate industry

CUSTOMER

The client is a U.S.-based holding company helping businesses from diverse industries pursue efficient and sustainable development. Real estate is one of the client's primary directions, as the company offers consulting services and support to both real estate agents and property buyers.

BUSINESS
CHALLENGE

The market for bidding on real estate properties lacks tools capable of managing all the primary processes in one place. The primary challenges that the app aimed to solve were:

1. Workflow inefficiency, as various processes, such as automatic verification of funds, non-transparent fees, and cross-platform payments lacked synchronization

2. Time-consuming and fully manual tasks, such as paying fees, generating documents, signing paperwork, and listing properties

3. Lack of visibility into available unlisted properties in both commercial and residential area sectors.

Why
Leobit

Leobit has exceptional experience in real estate and proptech software development. We knew the key quality standards and challenges pertaining to this industry. We were also ready to handle the discovery phase of the project to bring clarity, precise estimates, and a roadmap to building a solution the customer needed.

Real estate discovery pahse project in detail

Project
in detail

The customer approached us with a request to assist in organizing the project’s main requirements, including the application’s business needs, end-user scenarios, and development roadmap. We held several workshops to ensure a comprehensive discovery phase, illuminating all aspects of the project.

The Leobit team began by scrutinizing the customer’s initial requirements gathered from pre-discovery efforts, including recordings supplied by the sales and delivery teams. This enabled us to grasp the specific positioning the customer aimed to adopt within the real estate software market. Additionally, we delineated business objectives, formulated a problem statement, and crafted an initial version of the product business model map. With these tasks accomplished, we were fully prepared to convene a collaborative workshop with the customer to outline the product vision.

This stage involved an in-depth research of the project vision and market trends. Upon researching the market, we identified several primary competitors that did not cover the full scope of challenges pertaining to real estate bidding solutions. For instance, some lacked transaction management capabilities, while others overlooked commercial property listings or restricted individual property listings. By identifying these gaps, we outlined a provisional product vision and its strategic positioning within the market landscape.

Following this, we delved into in-depth research across diverse end-user segments such as real estate agents, property owners, and individuals interested in commercial or non-commercial properties for purchase or rental. Our Business Analyst (BA) meticulously crafted user scenarios customized for each group, outlining their distinct requirements through functional representations of key flows using sketches and low-fidelity wireframes. This user-centric methodology provided invaluable insights that guided the definition of our solution’s core features. The ultimate deliverable of this stage was a functional decomposition document that guided us through the next stages of the discovery phase.

Through continuous collaboration between our Business Analyst (BA) and UI/UX team, we crafted a series of high-fidelity wireframes and clickable prototypes to represent both the system’s capabilities and our design vision. These materials were then shared in multiple sessions aimed at presenting proposed design concepts to the client and ensuring alignment with our project vision. The client was very pleased with the UI/UX designs we proposed for the app.

Having finalized all critical decisions during the requirements gathering and UI/UX planning stages, we transitioned to architecture planning and began scoping the development efforts needed to bring the product to life. Our Architect rigorously studied the provided business and user requirements, along with the UI/UX vision, and delved into necessary technical research to consider a reliable architecture that fulfills the solution’s functional and non-functional needs.

After research, the architecture vision, technology stack, and necessary infrastructure requirements were defined, which allowed the Discovery team to move forward with crafting a detailed work breakdown structure (WBS) with cost projections for each development phase.

PropTech industry
project-in-detail

Identified market niche and strategic direction

We helped the customer identify a specific niche for their solution. Our team outlined the essential functionality that would fill the unmet need in the real estate market for a bidding platform where all the steps to close a deal are taken in one place. Our team also helped the customer identify a promising direction in the real estate market, namely the niche of unlisted properties. With all this knowledge, we managed to improve the product's market positioning and outline its basic functionality and development direction.

project-in-detail

Blueprint of the solutions architecture

The client received a vision of the platform's architecture and tech stack required for the implementation of their ideas. All the results were documented in the WBS (work breakdown structure) document, serving as a roadmap for the project supported with estimates.

The customer also got a vision of a tech stack required for building the real estate bidding platform. In particular, .NET was chosen as a perfect back-end technology due to its excellent performance, flexibility, and compatibility with other frameworks and services. Angular would become a framework for building the app’s dynamic and user-friendly front end. We also decided to leverage the scalability and manageability of the cloud by deploying the app on Azure.

project-in-detail

UI prototypes and design concept

Adopting a user-centric approach, our UI/UX Team created prototypes and design concepts that outline the solution's core functionalities, including property bidding and representation of unlisted properties.

The Journey
Behind The Discovery

Team:
1 Business Analyst
1 UI/UX Designer
1 Solution Architect
1 Project Manager
Week 1
Week 2
Week 3
Week 4
Product vision development
Market research
User research
Business flow development and validation
User flow development and validation
UI/UX wireframes and prototype development and review
Design concept review
Architecture vision development and validation
WBS (work breakdown structure) development and review

people on the team

4

weeks to complete the discovery

4

Value
delivered

  • Identified market opportunity and niche for a real estate bidding platform that would provide unique user value

  • Accurate estimates providing the customer with a vision of project cost, timelines, team composition, and the ways of implementing both business and end-user requirements

  • Safety from unpredictable challenges and budget overruns, achieved with thorough planning and clear product vision

  • A vision of project architecture, tech stack, and UI/UX design, furnishing a roadmap for seamless project implementation