Over the past few years, Digitalization has been improving the Indian realty market. There are plenty of opportunities for technology to establish itself in the real estate market by helping companies find new premises, both momentary as well as long-term, helping students find a middle-term housing facility, and assist business people to find a new building.
It has been observed that more than fifty percent of the urban population prefer to use mobile or computers to search online for the product or service they need instead of going out. every company is looking at the digital space to exploit opportunities. There is a trend towards Digitalization of all our basic needs, from online shopping, banking, and research to adopting new-age delivery systems.
There is no doubt in saying that Digitalization has been helping the Indian realty market to a very great extent. Especially, In the midst of the worldwide ambivalence of the pandemic, technology has indeed proven to be essential. Advancements in technology have provided a tremendous wave of change in our everyday activity and working environment.
The crisis of COVID-19 has forced everybody to think digitally. Realtors have no choice but to adapt to the changing norm, where digital is a key element in driving all major interactions. The mandatory lockdown made existing marketing channels ineffective in most parts of the world, including India, and there was no other means but to go digital.
Real estate also successfully adopted the digital medium, like other industries, and started upgrading online capabilities. Most of the realtors used ingenious existing tools such as virtual meeting software, teleconferencing, and marketing and selling property webinars.
Safe & Easy Connections: The use of technology is allowing developers, in various geographical locations, to connect with a wider audience. Online expos or events, webinars, etc offer home buyers the opportunity to access and select a range of homes that meet their demands. From the comfort & safety of their homes, anywhere in the world, all this becomes possible.
In addition, it helps home buyers avoid the commuting hassle and saves valuable time. People are also intentionally avoiding crowded meetings and physical encounters for safety reasons. Digitalization has become the prime spot for all developers in such a situation.
24-Hour Service: Likewise, chatbots are becoming prevalent. It enables developers to provide prospective home buyers with 24-7 assistance. It is very helpful for NRI Buyers as they can connect with the property provider anytime.
Furthermore, through the implementation of the Real Estate (Regulation and Development) Act 2016 (RERA) as part of the regulatory reforms, the government has mandated that several processes associated with property maintenance, compliance and taxes be executed by using a digital system.
Social Media Platforms: With the advancement of technology purchasing a property is just a few clicks away now. One can search up the project they are interested in investing and can get all the details about it. Social media platforms also help very much in accelerating the Indian real estate market as developers are now building their brand images & enhancing their goodwill.
With the vast majority of adults reporting themselves as frequent social media users, it is no wonder that not only real estate but also every other company background you could think has been extremely prominent in this particular pattern.
Real estate businesses are also required to have a presence on social media from a marketing point of view and to do this to communicate with clients, consumers and the general public. The most informative companies such as SBP Group use their social media to develop their brand images, create leads, and even draw an increasingly mobile-focused target audience. Good market value will indeed help the developers in boosting their sales & to provide people their dream home.
An online expo becomes a timely, meaningful, and important storytelling tool, collecting customer feedback, exchanging information and providing prospects with educated decisions, all rolled into one with enormous scope and pace.
Moreover, to provide customers very personal & authentic experience of property, Virtual tours or AI (Artificial intelligence) is being used. AI is not only helpful for customers but is also very beneficial for developers and agents as well.
Artificial Intelligence can offer useful insights into the markets, property artifacts, and even lease ROI, identifying the future cash flow and helping property agents in finding good property for its client. In fact, AI and machine learning have taken the field’s technologies to the next level, becoming incredibly good at data analysis through the tools of real estate analytics, intuitive, easy to use, and accurate.
Overall, an intelligently designed digital journey can take customer engagement through the roof, thus positively increasing the organization’s overall top-line, profitability, and brand visibility. It will also improve marketing, reduce the product period and streamline the operating flow, thereby increasing sales without increasing overheads. There is, however, an urgent need to develop captivating new solutions and incorporate them effortlessly into the management of the consumer life cycle to make it possible.
While buying a property will forever remain a physical affair, the future of real estate transactions is digital and virtual. Utilizing digital advancement accurately will provide a level of satisfaction to everyone. It will also help us to target the young generation, as most of the builders provide modern age amenities in their project, opting digitalization is not only safe but also will help in shaping the Indian realty market into an upgraded version.
In establishing the confidence of prospective clients, developing an atmosphere that is transparent goes a long way. The complexities of the sector make it much more important to look for creative ways of restoring the trust. One such means of pleasing consumers is to take the digital approach before they make one of the most important choices of their lives.
For any more information, you can connect with the No. 1 Housing company in Punjab, SBP Group at our different social media platforms.