Enhancing Real Estate Opportunities with SpaceComps
SpaceComps is a dynamic real estate application developed in partnership with DEVtrust, designed to help users identify and leverage profitable real estate opportunities. The platform offers features such as location-specific deal exploration, user-driven deal proposals, and a credit-based system for accessing detailed property information. With the addition of flexible subscription options for purchasing credits, it aims to transform the way users interact with real estate data and investment opportunities.
Here are the challenges we encountered during the application’s development phase
Users faced challenges accessing detailed and comprehensive property data necessary for making well-informed investment decisions. The lack of a structured approach to data access restricted their ability to thoroughly evaluate potential investments.
Before enhancements, users could not propose new property deals. This limitation resulted in a static selection of deals on the platform, potentially missing out on lucrative opportunities that users could identify based on their market knowledge.
The platform lacked flexible subscription options for users to increase their credit pool. This shortcoming hindered the ability to attract and retain users who needed more affordable and scalable ways to access additional property information.
As the platform grew, it encountered scalability issues that affected system performance and user experience. The increased volume of data and user traffic resulted in slower load times and reliability concerns, negatively impacting user satisfaction.
DEVtrust implemented several innovative solutions to address these challenges.
DEVtrust implemented a credit-based system that allows users to earn credits through successful deal proposals or purchase additional credits via monthly or yearly subscriptions. This system provided users with access to detailed property information based on their credit balance.
To enhance user engagement, DEVtrust introduced a feature enabling users to propose new property deals. These proposals are subject to administrative approval, ensuring that only high-quality and viable deals are added to the platform.
A new subscription-based credit augmentation model was introduced, offering users both monthly and yearly plans. This model enables users to purchase additional credits at a discounted rate, promoting long-term engagement and addressing challenges related to user acquisition and retention.
DEVtrust optimized the platform's backend infrastructure to improve scalability and performance. An Upgrade to data processing capabilities and system responsiveness was implemented to handle increased traffic and data volume effectively.
The implementation of solutions yielded impressive results.
The introduction of the credit-based information access system resulted in a 30% increase in user engagement. Monthly active user numbers grew by 25%, reflecting heightened interaction and satisfaction with the platform.
The user-driven deal proposal feature led to a 40% increase in the number of deal submissions. There was also a 15% rise in the number of approved deals, significantly broadening the platform's range of available opportunities.
The flexible subscription model led to a 35% increase in the purchase of additional credits within the first six months. User retention rates improved by 20%, demonstrating the effectiveness of the subscription options in maintaining long-term user commitment.
Scalability improvements resulted in a 50% reduction in load times and a 30% boost in overall system performance. User-reported performance issues decreased by 25%, contributing to a smoother and more reliable user experience.
A Real Estate Application where users can explore deals in a specific location with administrative approval.
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