Confidential Client

Client :Keller Williams Real Estate Agent

Categories:Market Research, Concept Validation

KOVUS Hours :150

Showing Assistant Application Concept

Keller Williams is an international real estate company headquartered in Austin, TX. A top Keller Williams agent in Omaha concepted an app idea that would help real estate agents coordinate the home showing process with homebuyers and other agents. The agent wanted to validate demand for the concept prior to investing significant dollars in design and development.


Project Goals

KOVUS was hired to test the app concept with the agent’s target customer base and draft a competitive analysis of existing resources available to agents and homebuyers to aid in the decision on whether to pursue development of the app.


KOVUS Services

16 Research Interviews
Competitive Analysis

In the Details

To accomplish the research objectives, KOVUS interviewed 16 participants (8 real estate agents and 8 recent homebuyers) to identify the viability and demand of the product.

Key Findings:

  1. Based on the 8 interviews completed with real estate agents, agents did not express any pain points with current technology solutions. Real estate agents were satisfied with most aspects of the showing process including managing logistics, communicating with clients, coordinating showings with listing agents, and communicating within their own teams.
  2. Agents had existing resources provided to them by their brokerages that were free to use.
  3. There was more interest from homebuyers than from their real estate agents for the app. However monetization opportunities for the app were limited on the homebuyer side since buyers had existing solutions that were free that solved most of the pain points that made them unwilling to pay for the app.

Outcomes

Ultimately, the research concluded that while there was some interest in the app, there were not sufficient frustration with existing solutions to make the app a highly sought after solution. If our client had moved straight from ideation to development of the app, the client would have lost significant time and money developing a product that would have garnered little interest from agents or homebuyers. By going through the KOVUS concept validation process, our client had full confidence in making the decision to divert attention to other pursuits and saved hundreds of thousands of dollars.


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