Real estate sales go digital, contactless
The real estate industry is among the hardest hit by the global pandemic and most of its operations have ground to a halt under the strict quarantine measures implemented.
“We have decided not to launch any new projects this year. We believe we have sufficient projects in our development pipeline to sell once the situation normalizes, given the ₱158.9 billion worth of projects launched in 2019,” said Ayala Land Chief Finance Officer Augusto Bengzon.
He noted that, “We have also revised our projections to our cash flow from operations, to take into account a possible slowdown in residential sales…”
But life has to go on for these companies and their agents and many have started to adjust and adapt to the “new normal” by going digital and online while, at the same time, trying not to sacrifice the personalized service their customers have come to expect.
ALI President Bobby Dy noted that, “Our customer relations group continue to service our property buyers for any queries they may have.”
Ayala Land Premier and Alsons Properties’ top sales agent Joey Lim said he still keeps close contact with his buyers be sending them messages, fruits and sweets as it is “important to still be in touch specially in times like this.”
“Obviously sales will go down. But everything is okay with those who are already making term payments,” he said adding that “only a few have asked for payment adjustments but a few are even calling to ask why their check payments have not been deposited yet.”
Lim said: “A few people also called asking if there are good deals because it was reported that real estate prices will go down.”
He explained though that, previous buyers will not be happy if prices are reduced so, “for developers, specially the good ones, they will hardly adjust their price. But terms will be much friendlier, thus there is opportunity for some buyers.”
Megaworld said its sales teams have been used to selling online already even before the lockdown. With this situation now, the firm expects a huge drop in the visits of customers to the showrooms.
“So, we have prepared presentation kits which are used for Zoom and other online presentation portals. Only around 30 to 40 percent of our sales agents are used to this, and these are our sellers who survive this challenge and are able to sell. Online selling is indeed the way to go now,” Megaworld said.
It added that, “We still see sales coming from Filipinos living abroad even during the pandemic. We have also discovered a number of customers who now prefer residential properties inside townships and mixed-use developments because of the convenience and comfort these developments bring even amidst a pandemic We have also seen a spike on the demand for properties outside of Metro Manila because of the idea of 'reserve migration.'”
In the case of Aboitiz Land, Inc., it had already begun to embrace a digital approach to selling residential properties even before there was a pandemic as it felt that “contactless home buying” was already a necessity to expand its client reach.
“This strategy is here to stay, even accelerate post-COVID-19,” according to AboitizLand president and chief executive officer Dave Rafael, following a positive response from AboitizLand’s residential clients amid the enhanced community quarantine (ECQ).
Despite the challenges and limitations brought about by the current situation, AboitizLand is able to retain 50 percent of its pre-ECQ reservation volume. This is due to the active and continuous innovation on the new home buying process, making it safe and convenient for its customers.
“This has been our major strategy since 2019. Fortunately, Aboitiz has a dedicated group [on digital transformation] at the parent level that we were able to tap. Because of our early investments and preparations, we were not caught unprepared,” Rafael shared, referring to the limitations brought about by the ECQ.
As opposed to the traditional way of selling properties which entails face-to-face meetings, site trippings, open houses, and mini-events, contactless home buying leverages on online platforms such as the company website, social media, and email marketing for lead generation.
Interested buyers may use AboitizLand’s 360-degree virtual tours on its website www.aboitizland.com to view amenities, features as well as property locations, or request for an actual video of the unit and book a dedicated property specialist or an agent to assist with all their queries and conduct a comprehensive online presentation.
Reservations may be done online and clients may choose from a range of online modes of payment which include bank transfers, mobile banking apps, or through AboitizLand’s own payment portal.