When it comes to the real estate industry, innovation is key to standing out. Enter Reely.io, a platform with a vision to revolutionize developer-agent interactions through a transparent commission system. 

But how does one turn a great idea into a market-ready product? North South Tech was brought in to conduct an extensive product discovery process to chart the course for Reely.io’s success.

What Is Product Discovery

The product discovery phase is crucial for software projects, aligning goals and resources before design begins. Its core purpose is to gather crucial data, define requirements, and dissect client business needs. At North South Tech we can handle the full cycle product development, from concept to the market. 

Project Overview

Reely.io is a real estate platform aiming to improve developer-agent interactions to facilitate real estate sales through a transparent commission system. North South Tech was tasked with carrying out an extensive product discovery process to determine the roadmap and efficiently handle the obstacles faced by both sides.

Our Approach

North South Tech followed a structured approach to ensure comprehensive product discovery. The process involved three main phases: Research, Mapping, and Delivery.

Product Discovery Process 1: Research

North South Tech’s first step was to dive deep into the B2B real estate sector. The team:

• Identified the target market
• Recognized primary users: developers and agents
• Conducted user needs analysis, uncovering key requirements:
  • Efficient information exchange about listings and units
  • Swift interaction between agents and developers
• Analyzed the market landscape, confirming the B2C saturation and B2B opportunity

Product Discovery Process 2: Mapping

With the research in hand, North South Tech began mapping out Reely.io’s future:

• Identified key features to implement
• Established the product’s unique selling point
• Outlined implementation steps, including:
  • Developing a fast-growing B2B platform with ed-tech and marketing orientation
  • Creating multiple modules, including SEO for better online visibility
• Defined a scaling strategy using a custom IT platform with interfaces for developers and real estate agency managers

Product Discovery Process 3: Delivery

The final phase of the discovery process focused on turning insights into actionable plans. North South Tech:

• Created a comprehensive B2B platform design
• Addressed specific developer problems in the real estate market
• Set clear business goals:
  • Attract a large number of agents
  • Target a significant percentage of active users
  • Project potential revenue growth
• Developed a dashboard for real estate agency managers to manage agents, monitor CRMs, and balance workload

Key Findings

The discovery process yielded crucial insights that shaped our approach. We found that developers and agents had distinct needs: developers sought efficient communication channels, while agents craved tools for client management and lead generation. This divergence in requirements highlighted the opportunity for a platform that could cater to both groups effectively. 

Our market analysis confirmed that the real estate technology landscape was indeed ripe for a B2B-focused platform, presenting a unique opportunity for Reely.io to fill this gap. Furthermore, we identified that to truly add value, the platform needed to incorporate several key features. 

These included a robust CRM system to help manage client relationships, advanced lead-tracking tools to boost sales efficiency, and educational resources to support ongoing professional development. 

These insights formed the foundation of our product strategy, ensuring that Reely.io would meet real market needs and stand out in the competitive real estate technology sector.

Solution Development

Based on findings, North South Tech developed a solution that included:

• A CRM system tailored for real estate professionals
• Advanced lead tracking tools
• Educational components to add value for users
• A unique B2B focus in a B2C-dominated market
• A custom IT platform designed for scalability

Implementation Plan

Turning discoveries into reality, North South Tech shifted focus to prioritize real estate agents while still serving developers. So the goal is to build core features like the CRM system and lead tracking tools and adopt a payment model that will align with different audience demographics.

Projected Outcomes

Based on their findings, North South Tech projected that the platform would be able to get: 

• Significant user acquisition
• Potential revenue growth
• Significant market impact through improved user satisfaction and increased platform engagement

Conclusion

The Reely.io case study is a testament to the power of thorough product discovery. By taking the time to understand the market, user needs, and potential obstacles, North South Tech guided Reely.io from an initial concept to a well-defined product with clear market potential.

This journey demonstrates that success in the tech world isn’t just about having a great idea – it’s about refining that idea through research, analysis, and strategic planning. For startups and established companies alike, the lesson is clear: investing in product discovery is an investment in future success.

Ready to turn your idea into a market-ready product? Contact us now.