Different than a mobile/smartphone application, a mobile website is a special version of your existing website that is customized for optimal viewing on extremely small screens and low-feature phone web browsers. Many phones and aging Blackberrys will have difficulty accessing information they need on your website without this special formatting. These older phones amount for approximately 50% of the access to the internet from a mobile device.
Take a look at Collegiate Peaks Realty's mobile website below. (Click to go through actual working version)