How the iPhone can Revolutionize Real Estate
On Friday, June 29, Apple released its long awaited iPhone! Today I visited the Apple store (in Burlingame) and found that it certainly lives up to a lot of its hype! After playing around with the iPhone for 30 minutes I realized that it has the potential to revolutionize how consumers interact with real estate services and here is why:
- The iPhone will become a consumer phenomenon and quickly garnish significant market share
The iPod was released in 2001 and by end of 2006 it accounted for 75% of the US market! Apple has certainly “captured the imagination†with its new iPhone. I would expect similar a growth pattern with the iPhone. Prices of iPhones will fall as new and better versions come on the market. When the original iPod launched it cost $400. Today, the cheapest iPod is less than $100. The $500–$600 iPhone has a 50% profit margin, so expect to see the price drop as Apple sacrifices margin to grow market share or AT&T subsidizes hardware cost to acquire customers and service revenue. - The iPhone broad’s range of enabling technologies are ideal for delivering real estate applications
With built-in WiFi, BlueTooth, Web browser and email, video, photos, maps, GPS-support, widgets, media (PDF, Word, i.e.) and audio who could ask for more? As prices drop and market share continues to grow, more and more companies will invest in migrating real estate applications services to the iPhone. - Consumers and Realtors are ready for next generation real estate applications and services
Till now, it was impractical for most consumers to search for real estate using only a mobile phone - all that could change. With the iPhone’s large screen, excellent browser, high speed WiFi connectivity and support for media such as video, audio and PDF, expect more users to give it the old college try.
The iPhones comes with the the following features and technologies:
- Browser: The iPhone’s brings the web to your phone. I was able to effortlessly login into our vFlyer service and the touch keyboard work surprising well. All plans come with unlimited Internet access. The is also support for PDF, Word and Excel documents.
- Email: The iPhone also has a HTML email client that supports both IMAP and POP accounts. You can also synchronize your iPhone with Microsoft Outlook.
- Photos: Users can view photos on the iPhone’s large 3.5-inch widescreen display. The iPhone also features a built-in 2-megapixel camera.
- Maps: Users have access to a Google Maps client which allows you to view maps and satellite images, or get directions and traffic information. Consumers can view maps of real estate properties and get directions instantly.
- GPS: I have heard that you can use an external BlueTooth GPS receiver in conjunction with Google maps on the iPhone
- Video: Users can access YouTube or Apple TV videos over WiFi or the EDGE network.
- Audio: The iPhone is also an iPod and allows you to download, store and play music, podcasts and audio.
- Phone: You can make a call by simply tapping a name or number in your address book, a favorites list, or by typing it in.
Here are examples of real estate services and applications that consumers could potentially interact with on an iPhone in the future:
- Consumers could search for real estate using the Google Map client or by flicking through pictures of local properties similar to Apple’s CoverFlow viewer (RealEstateFlow – see the example below).
- Consumers could access real estate listings from services like vFlyers through their iPhone, viewing attached videos, maps and PDFs and able to initiate a call to an REALTOR by simply clicking on a call button.
- Consumer could view pictures of a home as a high resolution slideshow on their iPhone, listen to an audio tour or view walk-throughs and virtual tour videos.
- Consumers could use their iPhone to take a picture of a QR Code (barcode) on a website, real estate sign or vFlyer using a QR Code reader and automatically bring up the property in their iPhone browser for further viewing.
- Consumers could get maps and directions to a property’s location using their iPhone and a GPS could identify their current location.
July 1st, 2007 at 11:58 pm
[...]How the iPhone can Revolutionize Real Estate [...]
July 2nd, 2007 at 4:12 am
I think there’s a little too much hype surrounding the iPhone, since it’s branded by Apple.
In my opinion, a Blackberry is a more time-tested and proven product.
Galel Fajardo
July 2nd, 2007 at 6:09 am
Too bad the IPhone is only with AT&T. If it were connected to Verizon too, I would get one in a minute!
July 2nd, 2007 at 8:45 am
We only can get T-mobile as a service that really works where we are. So all the hype and bells and whistles don’t matter if the phone won’t work. If this phone, or any other one, is to become “the” phone, then there needs to be the ability for multiple carriers to use it, and it needs to work across the country.
July 2nd, 2007 at 8:55 am
I don’t like the fact you have to send email without a key board. I hate those key boards built into the screen. My only complaint, that and I can’t keep my unlimited minutes at Nextel for 138 per month. That’s why I’ve been with them for 10 years
July 2nd, 2007 at 9:01 am
You’re right — the possibilities for us are unreal. Thxs for the examples — I plan to purchase it after my current plan runs out.
APPLE Rocks!
July 2nd, 2007 at 9:12 am
It looks pretty amazing, but I figure I’ll wait until all the bugs are worked out and other provider plans are available.
July 2nd, 2007 at 9:36 am
We don’t have AT&T service in my area. It seems quite limiting having the IPhone licensed only with one carrier. I was waiting for the IPhone to make my purchase, but will go with another product that will work in my area.
Fran
July 9th, 2007 at 12:57 am
[...] How The I-Phone Can Revolutionize Real Estate by Oliver Muoto at vflyerblog.com [...]
July 9th, 2007 at 5:48 pm
[...] If Technology is more your game take a look at ‘How the I-Phone Can Revolutionize Real Estate’ by Oliver Muoto at VflyerBlog and ‘To Map or NOT to MAP - That is the question?’ posted at Realtor Genius. [...]
July 9th, 2007 at 6:04 pm
StreetEasy, the New York Real Estate site, released an iPhone interface that works well over EDGE.
http://www.streeteasy.com/iphone
Works well and very fast on my iPhone.
July 10th, 2007 at 6:13 am
[...] Oliver Muoto presents “How the iPhone can Revolutionize Real Estate” posted at vFlyer Blog, saying, “The Apple iPhone has the potential to revolutionize how consumers interact with real estate services.” I think the logic is a little flawed as I think iPod revolutionized what had been an industry that was stuck in the 20th century; however I don’t know that iPhone is having the same impact. Also, Apple’s marketing strategy is exclusivity - hence only one carrier - which will limit the ability of this product to revolutionize the world. [...]
July 10th, 2007 at 7:04 am
This a really good listing and thanks for submitting it to the Consumer-Focused Real Estate Carnival. You did a great a job this week!
July 10th, 2007 at 5:34 pm
I honestly think that O.M. has put out the best example of consistently, beautiful real estate blogging. Sometimes I don’t even read it, but rather, stare at it.
November 6th, 2007 at 10:14 pm
[...] Thought most of the posts on our blog deal very specifically with the goings-on at vFlyer, the industries we server, our customers or the manifold and wonder aspects of our service, every once in a while I like to do a “big picture” piece on some aspect of technology. One of those areas that recently go my attention was the subject of “killer apps”. I recently got a call from blogger Steven Groves about Google’s OpenSocial announcement and got into a great conversation with him on the subject. I also read Steve’s post on the Future of Real Estate on OpenSocial, as well as a post by Zillow’s Drew Meyers titled What Does OpenSocial Mean to Real Estate on the GeekEstate Blog. There has been similar chatter about the Facebook application platform and I myself did a post on how the iPhone can Revolutionize Real Estate(so I am just as guilty). [...]
February 8th, 2008 at 9:26 pm
One of the best things about the iPhone is it’s full strength web browser. This really opens up the full range of possibilities to use vertical market applications, such as real estate organizers, MLS software, tax databases, real estate blogging software etc. I expect that we will see Palm and Windows mobile adopt full-features web browsers. But in the meantime, the iPhone is the only phone that I know of that has a web browser that can actually display real-world web pages without failing.
A few people mentioned the limitation of having to use AT&T. Yes that is a problem, especially for realtors who really need the best coverage possible in the areas they serve. It’s sometimes not practical to switch to AT&T. There is an alternative, however. The iPOD Touch is pretty much an iPhone without the phone part. You can still do the web browsing, eMail, calendar and contacts, but from WiFi connection. I suppose it depends on where you work, but areand where I live 9Ft Collins Colorado) there are many, many wi-fi hotspots. All of the McDoonalds. Starbucks, book stores, libraries etc. I have an iPhone and am frankly shocked at how meny WiFi hotspots that I find just walking about town.