New Dimensions in Real Estate Marketing
During the boom time of 2007-08 real estate was largely driven by speculators who had very little insight into the true nature of real estate. These speculators invested in flats and commercial places to make money. For these speculators, a developers brand was often the only yardstick and the flat and commercial places were snapped up in their buildings. The scenario has changed completely. The actual purchasers know exactly what they want in projects they buy and they lease. In short players who fail to adopt real-time marketing strategies for their projects are falling. Today, real estate marketing is clearly a domain for real estate experts who are deeply involved in and informed about the Indian real estate market. They need to be thoroughly conversant with marketing techniques in real estate properties. The parameters of marketing focus about the information about the properties which they want to sale. A professional real estate marketing approach requires research based insight into the marketing demand. Real estate marketing a project invariably begins much before construction begins. For this the builder should have a marketing plan which factors in real-time demand and also that will prevail when the project nearing construction. The conventional sale of the properties does not hold water under today’s project promotions. Now digital marketing for real estate companies is the newest tool for marketing their projects. The focused presentation in digital is the ability to target the right audience and measure the impact. In a recent report by ASSOCHAM, it was reported that real estate firms throughout India spend about 2500 crores annually on advertising in media and digital marketing accounts for about 25 per cent with a share of about Rs 2500 crores annually on advertising in media and digital marketing accounts for about 25 per cent Rs. 625 crores. But in the process of home buying is a family decision and not an individual’s impulsive decision. Most home buyers carry out a lot of research and consult family and friends before buying a house. This means, its a very social process. So the successful marketing which results in sales is most important for the builders and they are now changing their strategies and turning towards marketing methods instead of randomly advertising. It is a planned process and must be followed.