The world is in digital transformation, how will this impact the real estate market? The Forecast.

Date : July 8, 2021

The world is in digital transformation, how will this impact the real estate market? The Forecast.

When the COVID pandemic hit the country unexpectedly a lot of markets were disrupted. There were many speculations on how the real estate market will fall/rise. But, in the pandemic we all needed to go through a transformation and digital transformation came to rescue. And, the Real estate industry adopted digital transformation at the most opportune moment when it was critical.

Why going digital is important?

To remain competitive in an increasingly competitive market, real estate firms needed new structuring alternatives, enhanced operational performance, optimised portfolios to maximise ROI and minimize cost of acquisition.

Following are the reasons why digital transformation is essential for real estate businesses :

Customer behaviour and expectations are shifting : The way individuals search for property is changing. Rather than depending on traditional media or engaging with real estate brokers, the new age home buyers rely on doing home searches online and taking the onus of finding the right home on their shoulders.

As a result, the lack of a strong online presence means missing out on the opportunity to interact with potential buyers and sellers.

Changes in technology : Companies can enhance their operational efficiencies by implementing digital technologies such as automation.

Key Technologies in the digital real estate industry.

With a large number of technologies available, following are the absolutely must which have changed how the Real-Estate market has worked in the COVID pandemic.

1. Virtual reality

The most difficult aspect of real estate marketing is that clients must visit the property in person before making a final decision. The good news is that you can include virtual reality into your digital marketing strategy.

There are numerous programmes available for creating virtual tours of properties. They may show your clients how a certain building project will look when completed.

Click here if you want to go into Hiranandani Castle Rock’s virtual tour.

2. Complete remote booking

With the restrictions and social distancing norms during the lockdown it was very difficult for homebuyers to execute the whole process remotely but, with the shift to digital transformation, developers are providing majority of information on the digital platforms like floor plan, layout plan, virtual tour, location mapping etc. and also provide an option of booking your homes online.

3. Internet of things

The internet of things is a technology that uses the internet to connect interconnected computer units embedded in everyday objects.

There are some clear benefits to IoT when it comes to real estate which include Energy efficiency, better security and a complete control of the house by the user which surely enhances the house hunting experience and have an exciting curve ahead with the future of real-estate.

4. Change in the advertising landscape

With low circulation publications and individuals confined to their houses, conventional print and outdoor media's reach is now essentially limited. In comparison, the reach of digital media has grown dramatically. People are spending more time indoors and, as a result, on the internet. Developers are now focused on strategic marketing as targeted digital advertising becomes more sophisticated, and spending on digital platforms is growing.

their customers has radically altered, from advertising on sites like Facebook, LinkedIn, and Instagram to communicating with customers via applications like WhatsApp, Telegram, and iMessage.

Options such as virtual viewing of the residence, as well as video conferencing for interactions, are becoming increasingly popular.

5. Lead Automation

Lead automation is paving the way for reaching out to the right customers at the right time and thus helping customers solve their problems effectively. This is turn leads to better cost effectiveness and higher ROI for businesses. Lead automation further reduces turn-around time leading to better conversions and shorter sales cycles. It also helps in better tracking, lesser amount of paperwork and more informed decision making for the businesses. It is equally beneficial for customers with better transparency and more convenience in the purchase process. And all of these has been possible due to digitization across the marketing and sales vertical.

Chatbot is a very good example of automation wherein AI based interface helps customer resolve their queries in real time basis over a preferred chat medium. These bots also come in with capability of connecting to a live person at any given time and leads to consumer delight.

Hiranandani Developers’ futuristic web based platform hiranandanioffers.com

Hiranandanioffers.com is a website developed by Hiranandani Developers containing all of the above and also provides certain unique offerings that are a first in Real Estate. Like many other developers, this website gives complete information on the projects in terms of virtual tours, floor plans, unit plans, layout plans, location mapping and online booking facility. But it also provides much more that no other website or developer is providing. At Hiranandanioffers.com you get a complete list of real time availability of flats with quotation for every individual unit. And these quotations and availability are the same that you would receive if you visit their sales offices in person, thus ensuring complete transparency. As such you can make an informed decision while booking your home online on hiranandanioffers.com with a token amount of just Rs.50,000. In order to aid customers in the process, the website has many interesting features like video conferencing facilities through gmeet which allows the home buyer to connect and get their queries solved at anytime, face to face and also helps them look into the detailing of properties along with the virtual tours, chatbot for resolving all top of the mind queries with an option to chat with a live agent at any point in time, the best offers available on their entire range of products, or just browse through their entire catalogue to select your dream Hiranandani home. Whatever is your requirement you would get complete and transparent information on this website that is unlike any other developer in the industry.

And for Hiranandani Developers, this is just the beginning for its digital transformation journey. The company is embracing digitization across its functions and will enable a better and automated sales process, with everything documented and transparent at every step right from the moment you enquire at Hiranandani till you get possession of your dream home. All of these are underway and will surely pave the path for a transparent and connected future in real estate buying, which is the need of the hour for the industry and Hiranandani, as usual, is at the forefront and leading by example.

What does the future look like with digitized Real-Estate?

According to a McKinsey poll of 800 CEOs, 85 percent of firms worldwide have accelerated their digital transformation. 67 percent have focused on automation and artificial intelligence.

The real estate industry is not immune to automation and it has begun to spend substantially in technology across functions, with favourable outcomes.

Today, technology is paving the way for improved customer interaction and more effective sales operations, which leads to increased profitability.

Conclusion

Technology has undoubtedly made inroads into the real estate industry, with several innovations already in place and more in pipeline. And all of this is to ensure that every customer’s home buying journey becomes easier and convenient. Hiranandani Developers, as always, has taken the lead and is on the verge of a complete digital transformation across its consumer touch points. It is just the beginning and the future is going to be much more exciting with new features and innovations which will aid the customer journey from start to finish.

It is just the tip of an iceberg with a more exciting future just around the corner.

Why not give it a go and go to www.hiranandanioffers.com

It could simply offer you a deal you can't refuse.

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Corporate Office

Hiranandani Constructions Pvt.Ltd
Olympia, Central Avenue,
Hiranandani Business Park Powai,
Mumbai - 400076
+91 22 2576 3600 / 6868

Sales Enquiries

+91 22 6849 3050
sales@hiranandani.net
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