Online Transformation of Real Estate Industry

Online Transformation of Real Estate Industry

By Mainak Biswas February 21, 2015 - 1,351 views

With the increasing number of buyers and sellers using the internet to find real estate information, eCommerce has a dramatic impact on the future of real estate industry. The high level of internet penetration coupled with the digitally connected lifestyle is encouraging people to execute every search via online.

The role of the property realtor

Vendors need to target the demand at an early stage. They need to understand the potential of those buildings that are most easily adapted to eCommerce to help marketing. They will have to use the demographic data to predict areas that best suits their property development. Ecommerce has completely changed the structure right from the best location to the best space with the specification becoming far more important.

The growing preference of online search in relation to real estate

All information under one roof

The online medium helps an interested buyer or a potential buyer focus on two important aspects – discovery of listings and detailed features of the property. Online search helps the end-users go through independent data, reviews and advice about the project, locality, neighbourhood profile, amenities, total area of the house, price as well as the builders. In addition, accurate content, well designed landing page and call-to-action buttons makes online search perfect for the buyers.

Three-dimensional representation of property

The right positioning of the property is crucial to attract potential buyers. 3D representation of property and its crystal clear images add to the visual appeal. The step by step video shows the gradual progress of the property. The real value of the assets gets enhanced with portals equipped with real photos, map-based property searches and especially when viewers get the opportunity to see every bit of their preferred building.

Online branding is personal

Online search serves as a potent way to educate buyers about the brand. It guides viewers through the process of purchasing a home. This emotional connect builds a mix of both formal and informal conversation with the prospective and creates a brand image that truly understands the sentiments behind investing in a property.

Cost and time effective

The majority of the push market strategies including previews in TV, advertisements in newspaper and movie hall incorporate a huge amount of advertising investments. Moreover, one needs to get hold of a newspaper or wait for TV previews to learn about real estate information. However, that becomes a little challenging in our super busy life. In addition, such marketing strategies fail to execute proper call-to-action. But online marketing is both cost and time effective. There are measurable outcomes of the advertising money spent here. Both the online paid and social media outreach plan reach the target audiences with the intent of creating brand awareness and driving the urge to make inquiries.

The digital influence on online search

  • 78% of people research for a brand or product online before making a purchase
  • 73% of buyers trust brands with positive reviews
  • 63% of people want to hear a positive product review at least 3 times to believe
  • 80% of customers reverse their purchase decision after reading a negative review online
  • 90% of buyers trust recommendations from people they don’t know

Recently, a famous real estate developer, Siddha Group is offering online booking of their residential apartments with the option of COD (Cash on Delivery) service. In this regard, Indus Net Technologies is proud to be their digital solution partner.

Digitalization is truly the future. The majority of the real estate websites have become one –stop-shop for prospective buyers to do their homework, compare prices, check reviews, location and focus on key factors that are more likely to match their expectations. The online platform is gradually becoming popular with the real estate industry for showcasing and creating awareness for their brand and also for interacting and engaging with customers. It is creating that ‘extra’ to optimize buying behavior.

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