If you look at the many categories in the app stores, you’ll see that most of the companies developing apps have a narrow view of what apps can be used for. They’re currently creating simplistic and basic apps, such as foreign language translation, to do lists, airport gate information, currency conversion, etc. While these things are useful, their value is low and they’re easily duplicated and essentially commodities. Visionary Apps has seen the future, and it’s with enterprise level apps – apps that can help a profession or industry do more with less, work smarter, or get better.
The first three apps launched by Visionary Apps were real estate apps: Complete Foreclosures, Complete Homes, and Complete Rentals (www.completerealtysuite.com). The company is, in essence, leading a revolution in how people buy and sell real estate through apps on their smart phones.
To see the power of their apps, let’s look at one of their free apps: Complete Foreclosures.
Complete Foreclosures has over 1.6 million distressed properties in its database. And when a user opens the app, it is instantly updated with the newest information. Before this app, even real estate agents didn’t have access to all the foreclosed homes in the area, as MLS is limited in terms of foreclosure listings. Realize that there are many categories of foreclosed homes, and few of them make it into the MLS. Examples include bank owned homes, auction homes, and short sale homes, and the public has no way to access all these listings. Additionally, most people have no idea how to buy a distressed property.
Visionary Apps did some research and found that there are 120 million searches a month for foreclosed homes. Yet, there was no app for it. They also looked at the reality of the real estate market. In January 2010 over 315,000 homes went into foreclosure, which was up 10% from January 2009. So, on a national level, the problem is still growing.
The worst part about a foreclosed home, aside from the homeowner losing their home, is that when homes in an area begin going into foreclosure, the surrounding property values go down. That then forces more people into foreclosure, which makes property values go down even more. It creates a negative spiral. Visionary Apps decided that the only solution was to get those homes sold and flushed out of the system, so they created an app that helps people find distressed properties for sale and then shows them how to buy them.
Comments