Challenge
In order to grab the full benefit of the current business process and manage various operations related to the auction system, the client decided to develop a web-based application that helps participants to take part in the auction remotely.
Developed "Real estate Auction System" has a wide range of goals and objectives out of which major considerations are listed below:
- Interface for the buyers to have a look into all the properties which are available for auction
- Interface wherein buyer can take a virtual tour of the selected property and option to participate in the real-time auction of the same
- Interface for the sellers to manage all their properties available for auction along with their relevant document management
- Managing the real-estate auction data in a Blockchain Database
- A web-based solution that is adaptive, customizable, unconventional and capable of entertaining the needs of all the stakeholders involved in the auction process.
Expertise
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Server:
Apache
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Database:
MySQL
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Programming Language:
PHP, JavaScript
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Framework:
Symfony, ReactJS, Express.js
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Third Party Tool:
Blockchain API, Google Analytics, Spryng SMS – To send mobile SMS, Netheos API – Digital Signature, AR24 API – Notary Verification
Solution
TatvaSoft developed a cross-platform web-based solution that facilitated end-users to basically find or list own property in this well-formatted solution. The developed web application has the following salient features:
Buyer Interface:
- Interface for the buyer to easily register themselves to have a look into the properties available on the platform, sign-in with Facebook & Google
- View list of the properties, Condition details, contact information, bidding details and deadlines, property plan, dossier documents with the ability to download them
- Functionality to have a virtual tour of the property which basically displays the said property In a 3rd party video player within the application
- Capability to book and schedule/re-schedule the physical tour of the property with the help of admin
- Stand-alone message functionality where the buyer receives whole notifications, admin messages and also can communicate with admin and seller.
Seller Interface:
- Interface for the seller to register themselves to list their properties on the platform
- Define and manage the property details which would be viewed by the platform users along with all the relevant property documents
- Manage the physical tour requests submitted by the buyers and assist them during the actual tour with the help of admin
- Define and manage the auction for their property, view the bids that are submitted during the auction, the process for complete selling of property, close or reschedule the auction
Auction interface:
- Two-way verification to join the action for buyer
- Automation filter of the buyer based on Financial capability
- Hide buyer identity.
- The buyer or seller can see Auction real-time changes.
- Provide notification alert to buyers and sellers for auction update information.
- Auction winner process and digitally signature and online formalities
Platform admin interface:
- Interface for the admin to verify the buyers and sellers registered on the platform
- View, verify and approve all the properties which are defined for sell on the platform
- View all the auctions which are defined by the seller users on the platform or ongoing and completed auctions with overall statistics, view the property details
- We have integrated Blockchain API to secure live auction data.
- Multilingual support for the developed application. i.e. English and French language
- Integrating Google Analytics to analyze the user behavior on application pages
Result
The solution empowers and boosts the client’s business and has been proven as an adviser and trustworthy medium for an investor or first-time buyer, and inexperienced trader. Tatvasoft’s developed richly formatted web solution eliminates the disappointing traditional method of trading property in an offline manner and changes the code of the market. This digital real estate auction is entirely dedicated to the sale and purchase of the real estate at auction and price is determined by the best offer.
