Why is Indian Real Estate Industry Goes Digital ??

With the beginning of lockdown in India, since the start of COVID-19, the Indian real estate sector was hit hard from both angles, almost like a pincer. On one side there was low demand and on the other, was an acute shortage of labor as many of them chose to go back to their homes in fear and under government direction.

With the slowdown of the major world economies like the US and the European countries, it was expected that real estate investments would be badly hurt being either slowed down or completely off till the next year.

However, every phenomenon has a good and bad side to it. Similarly, in this sector, the impact of the use of digital technologies, which never really was preferred, was now coming into the spotlight. Today any tenant or buyer interested in searching or buying a new home would prefer to do it online more than ever before.

Reasons for Going Digital

More Engagement – With Digital customers get features like online customer interaction, virtual tours or site visits, and video chats, etc. Today a customer can schedule a virtual visit of the entire property, floor plans, structure without lifting his body from the couch. This combined with the vast reach of digital platforms has heavily increased the efficiency of marketing.

Reality is now Virtual – With Zoom calls, Google Meets, WhatsApp business accounts, the real industry was able to bring a large portion of customers together virtually. Also with App marketplaces and machine learning, it's now easier to understand the customer’s requirement and personalize the service they receive.

Impact of Social Distancing - With people more concerned about health and hygiene and keen on observing the new social distancing norms, real estate agents are no longer preferring physical interactions rather they are relying on digital platforms that are seamlessly connecting agents, buyers, sellers.

Due to this, there have been multiple benefits in terms of costs, productivity, a better understanding of customer mindset, etc.

The Future of Real Estate

With all this in mind, the question is supposed to be, Why not Digital? With all the achievements thus mentioned it is only natural that more investments will be made into digital platforms by the real estate companies and emphasis would be on finding new and innovative ways of connecting and interacting with customers.

Hello,

It is because of digital marketing helps to increase more traffic on site by increasing the customer base.

This helps to gain more profit. With digital marketing, there is less need for offline sales which helps the company to grow faster.

When it involves assimilating AI, the Indian property industry isn't a ways behind. From the way property seekers, scout for belongings to offering in all likelihood buyers with relevant information to investigating belongings values – all the stages of belongings procurement are now powered by using AI and machine getting to know.

Because going digital is the new trend, now don't really have to visit a property, you can just view them online at a 360-degree view. This is such an amazing concept followed by businesses. Many businesses have been following this concept, I can even give you the list, where you can view a wide range of your properties only-

1. Assetmonk

2. Fundrise

3. Crowdstreet

4. Rich Uncles