Why the Real Estate sector needs a Digital Transformation
No business can escape the digital transformation taking place across the globe. The real estate sector has to adapt to it as well. To remain ahead of the competition, it is necessary for real estate companies to explore new structuring options, improve operational efficiency and balance portfolios to get maximum return on investment – all while mastering digital disruption and learning the customer preferences.
The real estate sector in India has robust demand, attractive opportunities, government policy support and increasing investments. However, to make the best use of all this, the housing companies have to adapt to the innovations and latest technologies. Digital transformation in the real estate sector in India has accelerated from being the talk of the hour to the need of the hour. Not only has it managed to rapidly change the business environment but has also disrupted the traditional way in which business was done.
By 2030, the real estate sector of India is estimated to reach $1 Trillion market size. This will be possible only if the entire industry undergoes a digital transformation.
Why does the Real Estate sector need a Digital Transformation?
Change in how customers search for housing
If you are a real estate developer, you should not ignore the power of Digital Marketing. One of the benefits of Digital Transformation is that your business will have a strong and powerful digital marketing strategy to capture a majority of potential homeowners using the Internet to search for their future purchase and that’s what will help you move ahead of the competition.
Change in customer demands
It has also been noticed that a majority of property sellers and buyers carry out comprehensive research online before ultimately selling or purchasing the property offline. The customers want to know everything so that they can take a calculative decision. So, if you do not have a strong online presence, you are losing out on the chance to connect with a significant number of interested buyers and sellers.
Change in Technology
The nature of the conventional real estate business model is changing thanks to the rise of online real estate websites. These sites are providing platforms which offer interested buyers a lot of home listings, complete with pictures and even virtual walk-through. These services are also offering research tools, which enable the users to not only filter their property search but compare prices, identify street locations and more, without leaving the comfort of their home. If you want to reach out to these customers, you need to adapt to all these technological changes.
The Real Estate sector in India needs to realise the power of digital transformation for their business and start shifting to a digital-first landscape by accelerating the adoption of digital technologies. If you are looking to step up your Real Estate digital marketing, the time is now.