How do you choose MVP(Minimum Viable Product) in real-estate /proptech industry?

Question

Happy Friday PHs,

I was wondering how startups and creators choose AI MVP in real-estate industry. And, what checklist do you follow before finalizing it?

The prop-tech and real estate industry is the hype right now. And, it's not that easy to figure out the trends for this specific niche.

Kavita · Accepted Answer

@barun_sharma Good luck :) Launching on Thursday!

Taylor Wilson · Answer

@kkavita @barun_sharma BiggerPockets is an active community for real estate investors and agents. I've found that Facebook groups are also very active but very niche/specific to a city or region.

Seb · Answer

If you are asking about the framework itself, it is: Search, Idea, Validation, Prototype, Product, and Scale, The framework is no different than other product development stages used in other industries. Basically, once you do the research to put together an hypothesis + vision you should get in touch with your ICP to validate your idea and even better if you can sell/sign a partnership agreement. Now, because PropTech is hyped, competition is very high so when you try to get in touch with corporates, agents or other parties involved are very reticent in adopting technologies or even partnering for the development of a new tech. However, if you are creative and persistent you will get hold of them eventually. Once you pass the gatekeeper, I recommend you "The Mom Test" book.

Good luck 🤞

Gloria Smeltzer · Answer

Startups and creators in the real estate industry choose their AI Minimum Viable Product (MVP) by considering key factors such as the problem they aim to solve, the available data, and the specific use case. Before finalizing the AI MVP, they often follow a checklist that includes data quality assessment, feasibility analysis, budget considerations, and feedback from potential users. Staying informed about industry trends and collaborating with domain experts also plays a crucial role in MVP decision-making. For more details visit https://www.topdogslandscape.com...

Kavita · Answer

@barun_sharma I'm not in the proptech industry at the moment so nope, but I imagine LinkedIn will help you find a bunch of people.

Jean Fly · Answer

When choosing an AI MVP (Minimum Viable Product) for the real estate industry, startups and creators must consider various factors. First, define your specific goals, such as enhancing property search, improving customer service, or optimizing property management. Next, research the latest AI trends in real estate, such as chatbots, predictive analytics, or virtual tours, and assess their relevance to your project. Consider scalability, integration with existing systems, and user-friendliness as key criteria. Lastly, engage with industry experts, gather feedback from potential users, and conduct thorough testing to refine your AI MVP before finalizing it. Staying informed about industry trends and aligning your MVP with market demands is crucial in the dynamic real estate tech landscape. For more information visit https://www.topdogslandscape.com...

Barun Sharma · Answer

@kkavita Sure, will do

do you know any online communities which provide connection to these people?

reddit groups, facebook communities, will also work

Answer

Choosing the right MVP (Minimum Viable Product) in the real estate or proptech industry involves focusing on core features that address the most pressing needs of your target audience. The key is to start with a simple, functional version of your product that solves a specific problem, allowing for feedback and iteration. In the proptech industry, this could mean developing a basic platform for property listings, a simple property management tool, or a streamlined home-buying experience. The MVP should demonstrate potential value while remaining cost-effective to build. By starting small, you can gather insights from real users and refine the product over time. To learn more about developing a successful MVP for your proptech startup, click here

Debin Alsa · Answer

Establish a realistic budget based on your financial situation. Consider your income, expenses, and potential mortgage payments. Stick to your budget to avoid financial strain or overextending yourself for that reason you should give a chance to home for sale in greenville.

Answer

To choose an MVP (Minimum Viable Product) in the real estate/proptech industry, identify the core problem your product aims to solve and the essential features required to address it. Focus on features that provide the most value to your target audience, validate the concept through market research, and prioritize ease of implementation. This approach ensures you can test the product's viability with minimal resources while gathering valuable user feedback for future development. For more details, you can also visit here: https://hyderoadwheelsandtyres.c...

Barun Sharma · Answer

@kkavita Thanks @kkavita! I'll look up on LinkedIn and look how it goes. BTW when are you launching?

How do you choose MVP(Minimum Viable Product) in real-estate /proptech industry?

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