The pandemic brought with itself unprecedented implications that were extremely terse for individuals across the board. It dismantled the concept of what any man considered ‘normal’, paving the way for an altogether new approach. Right from bringing significant differences in one’s everyday life, the Covid-19 outbreak has also altered some of the integral aspects of a person’s existence.
The real estate industry has been no stranger to this era of transformation and change. To emerge victorious in this war against uncertainty, all one has to do is adapt, accept, and innovate. With both the buyers and the sellers confined within the four walls of their homes, it has become imperative to come up with ground-breaking solutions that would set the wheels of economic activities into motion, while ensuring the safety of one and all. Born as a need of the hour, the establishment of a virtual yet personalised home buying ecosystem is a splendid blend of virtual reality, automation, and analytics, with the sole purpose to offer a seamless purchase experience to buyers in all available categories.
Here are some avant-garde strategies developed by industry experts to prevent the realty sector from losing its essence during the persistent bizarre conditions-
To break the chain of the virus, the Government has imposed several restrictions on travel and movement, making it nearly impossible for realty agents to conduct site visits. A reduction in this activity has a direct negative impact on sales, as the numbers are consistently dwindling.
However, a virtual site tour is nothing less than a saviour in disguise as its benefits can be reaped by all the parties involved, even without stepping outside their homes. This methodology eliminates the need to visit the location frequently, and the developer can reach out to an extended consumer base irrespective of the existing geographical barriers. Further, such tours can be easily set-up online. Additionally, with the support of virtual reality, it curbs the cost incurred in building a demo property.
Digitization of documents
The purchase of property is not a simple task; it involves thorough verification of documents to avoid discrepancies in the future. Initially, developers would share the hard copies of the paperwork which would be vetted by the buyer or their representatives. However, in recent times this mode tends to be barely feasible and also puts restrictions on the access to these documents. The digitization of documents and the presence of information on online platforms have enhanced the credibility and transparency elements of numerous projects.
Automation of key procedures
The primary events involved in the buying-selling of property, have been automated by the application of varied technological disruptions. Some of these activities include follow-ups, data sharing, and customer support amongst others. These innovative modifications have enabled developers to make meaningful offers to consumers. It has even let to immense cost reduction and time-saving, the benefits of which should be passed on to brokers and end buyers for maximum results.
Robust ancillary services
The job of a developer does not end by closing a deal or selling a property. Their endeavours are deemed successful only when the prime activity is supported by a well-built after-sales service segment. These offerings are equally important to the primary activity as they determine the impression the brand will create in the mind of the consumer and also helps it in earning goodwill.
A decision of purchasing a house is a big one and individuals tend to consult with their friends and family. In such a scenario, a positive public image will help the organisation enjoy the benefits of publicity via word-of-mouth channels. Along with the mentioned strategies, developers should maintain connected networks of brokers and other partners to improve their conversion ratio and provide fast and efficient services to the buyers.
DISCLAIMER : Views expressed above are the author’s own.