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Best Practices for Real Estate Facebook Campaigns by Sashi Mahavadhi, from Facebook (Meta)

INTRODUCTION

BeyondWalls- an integrated PropTech ecosystem for real estate in India, recently organized an event titled ‘Hyderabad Realty- Innovations in Marketing’. The aim of the event was to bring together esteemed industry leaders from Hyderabad for a discourse on market insights, consumer demands and marketing innovations.

As a part of the event, Mr. Sashi Mahavadhi, a Digital Expert from Facebook (Meta) shared some insights about real estate campaigns on Facebook. These insights focused on the optimization of such campaigns, which could navigate the dynamic consumer behavior and Facebook algorithm to produce successful results.

Here are some of the crucial Take-aways from the real estate campaign optimization session:

The excerpts of the session can be heard in an insightful video on the ‘Best Practices for Real Estate Facebook Campaigns by Sashi Mahavadhi, from Facebook (Meta)’

7 Levers for Campaign Success:

A campaign is affected by a variety of factors that work collectively and individually to determine its level of success.

Campaign Objective:

  • It means the goal with which the campaign is being run
  • It should be clearly defined according to the type of project that is being marketed
  • Luxury campaigns should have niched objectives that focus on showcasing the project

Targeting:

  • It means identifying the audience that is to be reached through the campaign
  • The algorithm is designed to recognize sizeable target sizes
  • Having narrow targets will delay the learning process of the algorithm, and negatively impact the campaign

Creative Format:

  • Campaigns should ideally include a combination of vertical, horizontal and video creatives.
  • Videos should align with the user trends, and be made mobile-first in a vertical alignment
  • The timing of videos should be under 15 seconds to capture attention

Optimization:

  • A campaign should optimize its outcomes before venturing into lead generation
  • The project, its target audience and the pricing strategy behind it should be carefully understood

Bidding:

  • The initial approach should be to opt for the lowest-cost bidding
  • It is essential to understand the price that consumers are willing to pay per lead
  • Once this happens, a different budget mechanism can be chosen

Measurement:

  • Campaign success is driven by an understanding of the behavior of leads online
  • Measurement is easier with digital channels in comparison with any others
  • The average cycle to close a lead lasts 45-60 days, which must be reconciled with campaign statistics while measuring its success

Placement:

  • It is preferrable to opt for the auto-placements, and let the system make the decision for you
  • A few weeks into the campaign, placement sets which are not suitable can be negated
  • This is not recommended at the starting stage because there are no available insights into how the audience functions

Learning Phase Best Practices

Learning Phase is not an optimum state for a campaign to be in, since the Cost per Lead increases during this time.

Efforts should be made to keep the campaign in the active state always.

Avoid Frequent Edits:

  • The Learning Phase is extended for most campaigns because of frequent changes being made
  • These constant changes prevent the algorithm from stabilizing

Edits that Will Cause an Ad to Re-enter the Learning Phase:

  • Changes that make a campaign go from active state to learning phase can be quantified in some aspects
  • Parameters like budget, bid amount etc. can be changed within a margin of 20%
  • If more drastic changes are frequently made, the campaign gets pushed back to the learning phase
  • This transition impacts all subsequent metrics

Avoid Having Too Many Ad Sets:

  • Having too many ad sets at once will cause each ad set to deliver less often
  • Fewer ad sets hence exit the learning phase to enter the desired active state
  • This leads to more budget being spent before the delivery system has fully optimized performance

Avoid Low Conversion Volume and Constrained Setups:

  • Test new creative and marketing strategies to improve your performance over time

Increase Budget Liquidity:

  • Calculate daily budget based on 50 conversion/week threshold and use campaign budget optimization

Bidding Properly:

  • Choose the right bid strategy based on your goals and cost requirements.
  • When possible, assign a value to your audience and bid according to LTV
  • If using a bid cap, make sure your cap is high enough
  • It is recommended to set the cap higher than what the goal is

Targeting Best Practices

Targeting simply means identifying the select segment of audience that will be constructively impacted by the campaign.

Classifying the Project:

  • The ideal targeting method should be aligned with the type of project
  • For affordable projects, there are more takers and hence leads can be generated even with broad targeting
  • For premium projects, it is recommended to start with custom-made and look-alike audiences as the target

Custom Audience:

  • The target audience can be customized based on prior data and statistics
  • While building custom audience, the time and frequency of reaching the audience is crucial
  • For accurate targeting, it is a must to have a strong seed audience
  • Seed audience refers to the existing set of users of a business, identified from past projects and consumer behavior
  • For splitting audience, if broad targeting is opted, it should be left to the Meta algorithm
  • If focused targeting is opted, the seed audience is crucial

Special Ad Audiences:

  • Size of the audience should no less than 5,000, and no larger than 50,000
  • It can be varied within 1-5%

Tips:

  • Increase retargeting windows. Ensure retargeting increments align with site traffic volume
  • Bucket special ad audiences into larger groups (i.e.,0-1%, 1-2%, 3-5%, 5-10%)
  • Group together interest and behavior targets with high overlap
  • Minimize audience overlap by using proper audience exclusions
  • You have the option to auto refresh your custom audience so it’s not manual work

Creatives – Best Practives

Creatives are the foundation of good real estate marketing, as they dictate the visibility and engagement of a campaign.

Best Practices for Videos:

  • The conventional practice of detailed videos which last 40+ seconds, is not advised
  • The ideal video content should be under 15 seconds
  • The brand should come forth within the first three seconds of the video
  • It should focus on showing only one aspect of the project at a time
  • This engages the audience more and differentiates the content from other, cluttered videos
  • Videos should be optimized to be understandable even without sound
  • They should be in vertical format suitable for mobile

Diversify Formats:

  • Creatives should not be one, standard format
  • New and advanced technologies like Augmented Reality (AR) can enhance marketing efforts

Single Focal Point:

  • Ensure that you’re only asking people to look at one thing
  • If you already have assets, consider cropping them so the focus of the image is framed nicely

Highlight Your Service:

  • The value proposition should be clearly displayed through the creatives

Inspire Action:

  • Use the copy or call-to-action button to motivate the audience that is seeing your campaign to act
  • What is needed and expected from the audience should be communicated

Take Up Real Estate:

  • When thinking about creatives, take up as much space as possible
  • Recommended formats are 1:1, 4:6, and 9:16 for stories

Creatives – Empirical Learnings

Broad Classification of the Types of Creatives for Real Estate:

  1. Lifestyle
  2. Amenities (such as Pool, Interiors, Lobby etc.)
  3. Offers
  4. Stages of Construction

Real Estate-Specific Observations:

  • 6 second timing works the best, and gives 4X CTR compared to Image Ads
  • Banner Ads have 1.5X times the CTR of Carousal Ads
  • Balcony View has a 10% higher CTR than Living Room
  • Signature sign for every creative is a must, as branding plays a big role in Real Estate buying

For more insights on the effectiveness of digital campaigns for real estate, and insights on how they can be optimized, reach out to us!

PDF Resource: RE Facebook Campaign Strategy by Sashi Mahavadhi

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Uncategorized

Real Estate Industry Moving Towards Sustainability

The theme of “Only One Earth” that was adopted for the Environment Day 2022 is more than just a theme- it is an awakening, and a realization that needs to be in all our minds.

As we made long strides of development in all sectors, we lost sight of the fact that we are burdening the earth. Our reckless use of resources damaged the environment, and only now are we realizing the severity and repercussions of it.

Sustainability in Real Estate

The real estate industry in India is a crucial economic driver. It presently contributes 6-7% towards the national GDP, and is the second largest employment generating sector. One of the main reasons that it has attained such importance is the fast-accelerating growth of the industry, which unfortunately led to it contributing to environmental degradation. As per statistics, the industry has a contribution of 36% in total energy usage, and of 39% in process-related CO2 emissions.

The world as a whole has been made aware of the damaging consequences that can come from ignoring the need for environmental preservation, and mindsets are now changing towards attaining sustainability in all spheres. Since real estate is such an important sector in India, it has also become a part of this emerging movement. The pandemic further acted as a wake-up call for everyone, since people began realizing the need for a healthy-living environment. The trends of real estate have now shifted towards implementing ‘green building’, which is based on the conservative use of resources. A lot of top developers around the country are making their projects with more regard to its effects on the environment. The aim of this approach is to ensure that the least amount of negative impact is exercised on the environment due to real estate development.

To enable this idea of green building, there are certain parameters that are being adopted in real estate constructions:

1. Sustainable Construction and Project Designs

Project designing and construction are now being undertaken with an objective to minimize energy and electricity wastage. Smart facades are being designed which can be used to limit the energy consumption of properties, because they sense the external environmental conditions and adapt themselves according to it. There has even been a switch towards greener construction mechanisms, which are more sensitive towards the environment in terms of energy consumption, resource usage and disposal and emissions.

2. Improved Utilization of Available Resources

The real estate industry in India has improved the use of resources, both natural and man-made. With respect to natural resources like water and solar energy, systems are being devised to preserve and harness them better. The man-made resources of building materials are being reused and recycled to avoid their wastage, and materials which do not exert a direct negative impact on the environment are being preferred.

3. Effective Waste Management

Waste management and composting systems have become an increasingly common addition to most developments, since untreated waste is a big challenge to the ongoing green initiative.

4. Promoting EV Infrastructure

Another significant change towards sustainable construction has been made by promoting Electric Vehicle (EV) infrastructure. Vehicular emissions are among the biggest contributors to pollution, and developers are now making EV charging stations in their projects. This easy accessibility to charging stations will work towards increasing the use of such vehicles.

These changes have been instrumental in achieving sustainable real estate development, and are transforming the industry to make it more environmentally conscious.

Technologies and Systems that are Enabling Sustainable Real Estate

In its journey towards achieving sustainability, the industry has been facilitated by certain technologies and systems:

1. Building Information Modelling (BIM)

This is a process based on 3D modelling which is helpful in visualizing and analyzing the design and structure of a building. In terms of sustainable real estate development, BIM has been effectively used for various purposes:

  • Accurate Energy Modelling to reduce requirements, which will in turn lead to reduced costs
  • Daylighting analysis
  • Logistics and site management to reduce the carbon footprint
  • Informed predictions regarding the quantity of raw materials needed, which has reduced wastage.

2. HVAC systems

HVAC stands for Heating, Ventilation, and Air Conditioning. Real estate businesses are now adopting green HVAC systems, which use efficient and environment-friendly technologies to allow for the conservation of natural resources. Due to the energy efficiency attained through green HVAC systems, there has also been a reduction in utility bills.

How Consumer Sentiment has Influenced Sustainable Real Estate

The real estate market in India is shaped by the demands and preferences of consumers. Of late, there has been an increase in awareness regarding environment preservation. As more and more people are being exposed to the rising dangers of unsustainable practices, they have become more conscious in choosing such products and services that are sensitive to the environment. Consumers are now demanding properties that are constructed with a view to be energy and resource efficient, and they are also willing to pay premium amounts for such properties.

With the ever-changing market trends and consumer sentiments, it is essential for developers to remain apprised of the latest insights. BeyondWalls– an integrated PropTech ecosystem can help developers with this, by providing accurate market information, enabling them to plan their projects in accordance with this information, and eventually market and sell it effectively. It provides complete, end-to-end services for all real estate requirements.

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PropTech

How PropTech is Influencing Indian Luxury Real Estate

In the last two years, the world has been struggling to recover from the effects of the covid pandemic. It had brought all economic activities to a standstill, and real estate was among the other commercial industries that were struggling to recover. The sector faced a lot of ups and downs, mainly driven by the lack of stability in the economy. However, the industry has proven itself to be resilient and is slowly getting back to its former pace.

How is the Indian Real Estate Sector Presently?

Presently, one faction of real estate is proving to be thriving in comparison with others, and that faction is luxury real estate. As per reports, luxury property accounted for only 7% of the overall sales in Q1 of 2019, and have now increased to comprise 12% of the overall sales in Q1 2022. This change in consumer sentiment can be primarily linked to the feeling of security that people associate with their homes, and hence they are preferring bigger spaces.

There is growing understanding in the minds of developers regarding consumer demands. Properties are hence being tailor-made to satisfy all these demands. This understanding comes from the analysis and interpretation of scores of data pertaining to market trends and consumer behavior which is being enabled by PropTech.

PropTech- The Merging of Technology with Property

PropTech has greatly influenced the real estate sector, and is one of the biggest contributors to the revival of the luxury market. In simple terms, PropTech means the aspects of digitization and automation that have been merged with the real estate industry. This is helping in the streamlining of the industry, and also increasing its efficiency and transparency.

One of the biggest advantages of adopting PropTech solutions for the industry has been the big data that is easily generated, segregated and stored. The data covers a vast spectrum, ranging from market trends to consumer sentiment. This data is an extremely valuable resource for any real estate business, since it can offer direct insights on what homebuyers are demanding. The insights can be appropriately analyzed by developers, and used to align their projects with the ongoing trends and enhance their sales.

With respect to the luxury real estate sector, PropTech has achieved success due to the data-driven insights and market information that it generates.

Here are some of the key aspects that Proptech has revolutionized, leading to an improvement in the sales of the luxury market:

1. Location Analysis:

Real Estate Sales Trends 2022

Luxury properties cannot thrive in any and all areas. They have to be adequately matched by the surrounding neighborhood and amenities, and it is essential to identify a location where such properties will sell. The location has to be studied in association with the other consumer demands, because they operate hand-in-hand for the success or failure of projects. The Indian real estate industry is comprised of several potential micro-markets where there is demand for luxury projects, and the data gathered by PropTech solutions can help in such locational analysis.

2. Understanding Consumer Sentiment:

Digitization allows for large volumes of data pertaining to consumers to be easily collated. This data can give developers input regarding what type of properties consumers are preferring, the desired configuration, carpet area and amenities in the projects, and much more. This information is the foundation of building a good project, and it must be analyzed well. Due to the influence of PropTech, developers have been able to identify the niched audiences who demand luxury properties, and their project strategies have allowed them to satisfy all the requirements that consumers have.

3. Pricing Decisions:

The emergence of PropTech has led to precious data regarding pricing preferences of consumers to be stored and used for analysis. Pricing a project well is extremely crucial to attain real estate sales growth , and it becomes even more important for luxury projects. There are various aspects involved in pricing decisions, and they have to be made with a balance between offering a good price for consumers and gaining profits on the property. Developers can use the data gathered by Proptech solutions to smartly understand the pricing trends, and can then make informed pricing decisions.

4. Simplifying Purchases:

One of the biggest positive changes in the real estate sector that has emerged with PropTech has been the automation and simplification of the purchasing process. This has not only helped the luxury segment to enhance its sales, but has led to overall real estate sales growth. With the influence of PropTech, the standard sales and marketing have seen a shift towards real estate digital marketing and sales automation.

BeyondWalls- an Integrated PropTech ecosystem

BeyondWalls is an end-to-end partner for all real estate stakeholders. It is a tech-driven platform, and offers services that range from project and pricing strategies, go-to market strategies, as well as full funnel sales analytics. It makes the best use of PropTech solutions to make data-driven strategies that can allow developers to cater to the demands of consumers. Such informed decisions are crucial for the sales success of all real estate segments, and especially the luxury market.

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Real Estate Sales

Understanding the Dynamics of Blockchain Technology in the Real Estate Industry 

The advancements made in the field of science and technology has transformed the working systems of every segment. The industry which used to run on paper and human connections is on the verge of complete digital Transformation. Technology in this regard is changing the real estate industry for the greater good. Under technology, Blockchain possesses the abilty to bring transparency and change the industry like no other technology could. In this blog, we will go through the dynamics of Blockchain that are in the play, and how it has touched almost every sector across the globe, including the real estate sector.

Blockchain Technology and Its Relevance to Real Estate

Understand Location and Target the Right Audience

Blockchain technology refers to a peer-to-peer network that handles decentralized ledgers of myriad transactions. It is, to quite an extent, influenced by cryptocurrency, which has taken over the finance segment lately, thereby making it quite likely for liquid money to lose its importance as a medium of exchange over the years to come. 

The  real estate sales, governed by the property value chain, may soon be taken over by blockchain. This projection indicates that soon blockchain may be used to purchase real estate through crypto-currencies and tokenization.

Another crucial role where blockchain comes in real estate technology is tokenization, and with it comes the possibility to trade for properties just like crypto-currencies are traded. 

Even though the complete adoption of blockchain in real estate may take a decade from now, the groundwork has already begun. Once the pieces fall into place, there would be a complete overhaul of the industry which would benefit every individual involved in it, directly or indirectly. 

Unveiling Blockchain Dynamics in the Real Estate Industry

Understand Location and Target the Right Audience

However, to reap full-fledged benefits in real estate, blockchain technology requires understanding its dynamics thoroughly and deeply. Let us understand them in detail and highlight the advantages they would bring to the Indian real estate market. 

Boosts Operational Efficiencies

Understand Location and Target the Right Audience

Blockchain in real estate has offered a new means of establishing a connection between buyers and sellers. It has cut intermediaries, which has helped cut down costs for the real estate industry. 

It has further securely facilitated data sharing, streamlining rental collections and payments to property owners, and even eased premium due diligence across the portfolio. With complete transparency, everyone in the chain gets complete information and is fully aware of the developments taking place at any given point of time. This way, it has become easy for investors and realtors to get valuable insights anytime, anywhere. 

Also, safe and faster data transfer has solved the issue of non-transparency and slowed operations. Fractional ownership has attracted investments and even granted access to the secondary markets. 

Solving The Challenge of Transactions

Understand Location and Target the Right Audience

Blockchain in real estate has made transactions secure and fraud-free. With real estate blockchain, property transactions do not have to go through third parties as there is nothing underhanded. 

You can now streamline payments and get proof of parties possessing enough funds needed to close the transactions in both rental and purchase scenarios. This way, the challenges of transactions in real estate can be secured and transparent for both buyers and sellers of the same. 

Smart Contracts and Agreements

Understand Location and Target the Right Audience

Smart contracts in real estate help in automating the agreement process and eliminating the involvement of intermediaries. It simplifies business operations and has even scaled down the traditional methods of executing a transaction, keeping the authenticity and credibility intact. 

Virtual currencies cooperate on the same technology and further help transform paper-driven and offline commercial real estate transactions like sales, financing, leases, etc., into the digital mode. 

These contracts run on the blockchain as computer code. They are stored on a public database that cannot be altered or changed, thereby maintaining the safety and security of the deals between parties and even increasing their transparency. Also, the chances of fraud are reduced to a bare minimum.

Also, with blockchain technology spreading its wings over the real estate sector, smart contracts or electronic contracts may become popular. These contracts perform defined actions automatically by using computer protocols and monitoring stored clauses. 

Tokenization

Understand Location and Target the Right Audience

Real estate does not seem a very reliable liquid asset to most people as it takes a lot of time to conclude a sale transaction. 

But, with tokenization and crypto-currencies in this segment, executing transactions will become easier and quicker. Properties can now be bought and sold like stock on exchanges with cryptocurrencies, lowering crowd-funding barriers. It has made the sector more advanced and innovative with the introduction of tokenization through cryptocurrencies. It has improved the liquidity and security of transactions through smart contracts and agreements, paving the way for excellent prospects in the years to come. 

Now, sellers do not have to wait for a financially stable buyer to come their way. Instead, sellers who understand the value can readily trade in real estate properties, even in fraction ownership. This way, tokens’ liquidity may increase, and real estate may soon be turned into a leading revenue-generating sector. 

Regulatory Mechanism

Understand Location and Target the Right Audience

Real estate and property management involve complex regulations that must be followed diligently and adhered to on time. Blockchain in real estate helps in regulating and improving private regulatory compliance by streamlining the process of buying and selling properties and even making it more secure. This way, buyers can easily trace the history and ownership of a property. Sellers can get better transparency around the sale process. This is made possible because blockchain lends itself to improving compliance processes by helping compliance officers keep track of all the complex regulations required therein. 

Final Take

Real estate blockchain development trends have increased over the last decade. This technology has brought innovative measures that lay the foundation for a bigger and better good for the real estate industry in the future. 

Hence, in a nutshell, blockchain is here to change the industry for the greater good, and this universal system of buying and selling on a global platform is only going to put the real estate industry in the mainstream on the global economic map. 

BeyondWalls, a tech-driven online platform providing collaboration between Real Estate developers and channel partners in the industry, excels in providing an  integrated proptech ecosystem where property buyers and sellers can have a seamless journey through endless offerings that benefit both parties in a fair deal. With considerable experience in real estate, the company aims to project the real estate ecosystem in India as the market leader on the global network.

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Real Estate Marketing

Facebook Marketing Strategies for Real Estate Businesses

Gone are the days when real estate agents had to network around their locality by distributing flyers and posting real estate information on supermarket bulletin boards. Today, real estate marketing is more than just selling a building or a piece of land. It has become an open world, full of divergent opportunities.

Amongst all, the one thing that has forever changed the way we connect is the onset of social media. Social media platforms like Facebook are no longer helpful for just sharing posts with friends and family but also for digital, paid advertisements. While reaching a broad audience for your real estate business, Facebook never fails to offer great exposure with multiple possibilities for your business.

As a result, Real estate marketing agencies worldwide are now using Facebook to market their properties and are getting impressive results. Therefore, it’s a must to understand and implement Facebook marketing strategies as a real estate agent.

Here is the ultimate Facebook marketing strategy for real estate that will help you stay on top of your marketing game:

1.  Understand Location and Target the Right Audience

Understand Location and Target the Right Audience

One of the many reasons behind Facebook’s popularity is its ability to advertise the right content to the right audience base. Therefore, before you start planning and get down to work, selecting your target audience is the first thing you must do. The whole process of advertising will get easier after this step as you’ll know what the target audience is in search of. 

In practice, there are some factors you have to keep in mind to find your target audience successfully.

  • Start by targeting an audience based on location because this will help you get clients nearby.
  • Apart from that, age targeting and demographic targeting will help you to work wonders.
  • In the ‘Detailed Targeting’ option, you will find quite a few alternatives that will help you show your properties to the best clients. 

Following such a detailed flow will help you reach a targeted, large audience.

2. Utilize Video Content

Utilize Video Content

Video content has brought a revolution to the world of marketing. Almost all industries swear by video marketing, and even real estate companies benefit from it. According to research, real estate companies with captivating video content attract more audiences than those without. 

Pictures can often be deceiving, but videos are unlikely to be the same. Videos help the prospects take a realistic look into real estate. A well-made video will increase reach, build trust, and thus help you gain more clients. Also, don’t forget to use the video specs recommended by Facebook Ad Manager before uploading the videos to get the best outcomes. 

3. Use Captivating Graphics

Real Estate Sales Trends 2022

Good graphics are the key to success on social media platforms. As a  real estate marketing agency, you must ensure that you use your properties’ best images for advertisements. Images play a big part in building the overall impression of your company. 

Once you understand the aesthetics, you will start attracting clients like magnets. With images, you get around two seconds to grab your audience’s attention, so make sure that the graphics you incorporate are unique and captivating. 

4. Share Testimonials with Your Audience

Real Estate Sales Trends 2022

Customer testimonials are the best way to convince more people to become your clients because they are genuine. Make videos of your old customers talking about their experiences with your company and share them with your audiences. You can also incorporate some of the detailed reviews in your advertisement copy for better outcomes.

5. Use Carousel Advertisements

Real Estate Sales Trends 2022

Buying real estate is a big financial decision for clients; therefore, they must be presented with all the necessary details beforehand. Facebook has the perfect ad format for the real estate industry: the Carousel ad format.

Real estate is the kind of industry that has a visual appeal, and that’s what makes carousel advertisement an ideal pick. In this kind of ad, you can display pictures in the catalogue to allow the viewers to scroll through and see multiple listings. You can also add price, location, and other details in the carousel advertisements. 

Proptech ecosystems like BeyondWalls simplify buying real estate for clients using such advertisements.

6. Work on Your CTA

Real Estate Sales Trends 2022

People will be more likely to click on your advertisements if you give them one ultimate reason to pick you. Call-to-action, popularly known as CTA, is a button that prompts your audiences to take action after watching a video or reading an article.

Some of the most used CTAs for real estate are:

  • Search
  • Next
  • Read more
  • How it works
  • Schedule a visit
  • Enquire Now
  • Register Interest
  • Request virtual tours and more

The presence of CTAs will drive traffic to your website and, therefore, will increase real estate sales.

7. Create Informative Website Landing Pages

Real Estate Sales Trends 2022

Once you have created strong CTAs for the videos and images, it’s time to make the destination website strong so that the good impression about your company lasts longer. The landing page is the first thing that appears when a person visits your website. So, you must ensure that their website visit is pleasant. 

Incorporate good images of your real estate on the landing page, along with reviews and testimonials. This will make the visitors find what they are looking for and make their decisions quickly. Incorporating the video ads in the landing page is also a great idea as it makes the visitors stay on your website for longer.

8. Observe Your Competitors

Real Estate Sales Trends 2022

Watch how the other real estate businesses are doing on social media. This doesn’t mean that you have to copy their actions. Instead, take inspiration from your competitors to improve your marketing game on social media. 

You might come up with new and unique ideas by observing your competitors. 

9. Run Different Sets of Ads and Observe Which Works

Real Estate Sales Trends 2022

Not everything works for every company, and the situation is not different for the real estate industry. You can make various kinds of advertisements for your real estate business, but not all of them will result in the same amount of success.

The key is to keep tracking the reach and engagements and see which kinds of ads are being loved by people. Carousel ads, 360 videos, and testimonials generally succeed considerably. But if you see that some types of ads aren’t working well, it’s time to stop making them and start focusing on making the ones that have good responses. 

10. Keep an Eye on the Analytics

Real Estate Sales Trends 2022

No matter which tools and tactics you apply for marketing, make sure you closely keep an eye on the analytics to understand the audience’s reaction. You can do it yourself or hire a professional who will keep looking at the numbers from time to time to determine the marketing strategies you use work in the long run.

11. Keep Your Relevance Score High

Real Estate Sales Trends 2022

Not all your audience will understand your advertisements before clicking on them, and some of them will even click on them with no intention of making further steps. Such clicks affect your performance to an extent, and to take care of that, remember to keep the relevance score of your advertisements high. 

You’ll have to pay more CPC if your advertisement isn’t very relevant. Once you set your relevance score high, Facebook will reward your advertisement. 

Conclusion

Real estate is an industry that keeps changing at a faster pace compared to others. But that will not be a problem if you take the necessary actions based on the situation at the right time. By implementing the aforementioned Facebook marketing strategies for real estate, you will be able to handle any new challenges with ease. Reach out to the experts at Beyondwalls; if you are looking for a reliable PropTech ecosystem to take care of the Facebook marketing strategies of your business to ensure it scales rapidly in the long run. Contact us for further details!

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Real Estate Marketing

Top 5 Real Estate Sales Trends to Watch in 2022

The coronavirus pandemic has affected our lives and the world in every way possible. The entire economy was brought to a standstill, and it was a slow and steady journey for it to reach its earlier position. Commercial activities of every nature were affected by the pandemic, and the lockdowns that came with it. Once the threat gradually reduced, these commercial sectors revived themselves, but they are now different from their old self.

The Evolved Real Estate Sector

Real estate is a leading sector in the economy, and has had its share of impact. In the post-covid era, the sector has seen a lot of changes which are mainly due to changes in dynamic between its various stakeholders. Developers, channel partners and homebuyers are the key stakeholders in the industry, and their demands are inter-dependent on each other. They have to operate in a balanced network for the industry to thrive, and this balance has been altered by the pandemic.

The choices and demands of consumers from the real estate industry have been largely altered. This new behavior is aligned with the challenges and problems that the economy faced during, and after the virus outbreak. The uncertainty that was being felt in almost every aspect of life has made the attitude of homebuyers extremely cautious and selective. The reasons behind investing in a home have now shifted from being a mere sense of financial security, to being a feeling of control and convenience due to trends such as social distancing and work from home. Home ownership is hence preferred over tenancies, and people are willing to contribute to real estate sales. However, they want properties to meet all their expectations before making their purchase, and it is now more important than ever for developers to understand their requirements.

The following are some emerging trends in real estate that can provide valuable insights into the industry and market, and the altered behavior of its stakeholders:

  1. Change in Consumer Sentiments:
  2. Real Estate Sales Trends 2022

    Consumers are the driving force of the real estate market, and their sentiments shape the market. For the past two years, the lack of job stability has made people very cautious with their expenses. For a purchase as significant as real estate, most people have to take loans. For these loans, the rate of interest has been steadily rising which is further changing consumer sentiments towards the decision of property purchasing. Developers must be aware of these concerns of their consumers in terms of property pricing and should accordingly plan their projects.

  3. Change in Consumer Awareness:
  4. Real Estate Sales Trends 2022

    The new-age consumer is very aware of the market, and this awareness has led to increased levels of scrutiny for developers. With the digitization of real estate marketing, every information relating to a property and developer can be easily accessed by consumers. They can inspect the property and compare prices, read testimonials by other consumers and ensure that the property they are considering is a good and solid investment.

  5. Rising Costs of Development:
  6. Real Estate Sales Trends 2022

    A by-product of the pandemic and the stop in manufacturing caused by it has led to the prices of raw materials such as cement, steel etc. going up. These materials are crucial for the real estate industry. If their prices increase, developers are left with no alternative to earn profits from their business besides increasing the prices of properties. These higher costs affect homebuyers, which in turn disrupts the entire real estate sales cycle.

  7. Increasing Role of Channel Partners:
  8. Real Estate Sales Trends 2022

    Channel Partners operate as a link between developers and homebuyers. They are essential in the homebuying journey since consumers rely heavily on them to understand their property requirements, suggest suitable properties and help them buy it for the best price. In the current scenario, consumers have a lot of property information readily available, which makes the selection process more confusing. Hence, in the emerging new trend, brokers are heavily relied upon to accelerate the sales of real estate.

  9. Improvements in Home Design:
  10. Real Estate Sales Trends 2022

    The buyers of today are very aware of concepts such as automation, sustainability of resources etc. due to the awareness that is being generated about them. They expect these to be incorporated into home designs as well. Properties that have automation in their features, and those which are constructed in an environmentally conscious manner are more in demand. Developers who include these features in their projects should make sure to incorporate these in their real estate marketing plans so as to make their properties desirable.

These trends are the current direction in which the real estate industry is heading. These can be used to the advantage of all stakeholders if they know how to correctly exploit them. BeyondWalls – an Integrated PropTech Ecosystem in India is the ideal partner for end-to-end real estate sales and marketing. It can help to navigate the market trends and elevate the real estate experience.

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Real Estate Marketing

5 Ways Realtors Can Use Digital Marketing to Boost Sales

Imagine a real estate sale happening a few decades ago- properties were marketed through newspapers, posters and hoardings, or by radio campaigns. For realtors, it involved a lot of manual efforts to convey information about the available properties. These efforts also did not have guaranteed success associated with them, because often homebuyers used to miss the information. There was no way to communicate with large numbers of people at one time, or for homebuyers to find easy solutions for their property-related queries. Real estate marketing services are today done in a very different way, where all these mediums have been taken over by technology and digitization.

Digitization in Real Estate

Technology has completely transformed the face of the real estate industry. It has streamlined the operations of the sector, and has made it highly efficient and convenient. Technology has impacted every aspect of the industry, right from marketing, to the automation of post-sale contracts. The most significant of this impact has been the change that technology has brought in the traditional marketing tactics used in real estate. Newspapers and hoardings have lesser preference than websites and social media posts, and gradually the industry is witnessing a shift towards digital marketing.

Digital Marketing for Real Estate in India

Digital marketing is the process of advertising and selling products through the internet, and other internet-based technologies such as social media or search engines. The internet is the most powerful tool currently, and people heavily rely on it for all their requirements. Real estate is no exception to the products that people search for online, thereby making the internet a good platform for real estate marketing. Statistics gathered by Properties Online Inc, a real estate software company, show that 92% of homebuyers search for properties online.

In India too, the trend of technology has taken over the real estate sector, and digital marketing has become a necessity for realtors to maximize their sales. It is a powerful communication medium if utilized well, and there are various ways in which good digital marketing can boost sales.

  1. Strategic Digital Marketing Plan
  2. Realtor Digital Sales

    Irrespective of whether the marketing is taking place online or offline, it is essential for a realtor to have a strategic marketing plan. If marketing is done in an unstructured way, the inventory tends to suffer because it is not being showcased to people in the best way possible. Before beginning digital marketing, a realtor must have a clear idea of the available inventory, the target audience for each different inventory, the type and frequency of content, whether videographic/blogs/static posts that should be uploaded for every inventory etc. The digital marketing plan must be backed by research regarding the best mediums for marketing content, and how the campaign can be optimized.

  3. The Wonder of a Website
  4. Realtor Digital Sales

    A website is the most fundamental element of digital marketing, but it also has the potential to make or break a marketing strategy. A website is the starting place for any online consumer, and hence it is essential to have a good and engaging website, which is user-friendly. From a real estate perspective, it is crucial that any website has a clear and concise property listing, since it is the basic reason that people visit the website. Besides this, the website should contain information which simplifies and breaks down the entire homebuying process, since most people are not aware of it. Certain other features that can help a real estate website will be to have links of ancillary services relevant to the industry such as lawyers, home loan professionals etc., and also including an automated system which can immediately reply to consumer’s queries. This will engage more traffic on the website and thereby help in real estate sales growth.

  5. Strengthening SEO
  6. Realtor Digital Sales

    Search Engine Optimization is the process by which a brand makes itself easily discoverable to potential consumers who are searching for products online. It works on the principle that if a brand includes content highly relevant to the particular product that it offers, it can be recognized easily by the algorithms of search engines, and will therefore be more visible to people. Having strong SEO can greatly increase the popularity and sales of a real estate realtor, since more potential consumers will be easily directed online to the realtor. One way that a realtor can ensure this is to have content rich with select keywords for the industry, such as ‘real estate’, ‘property’ etc. which are most likely to be searched for by potential consumers. A realtor must also focus on having content relevant to the area or locality in which their business operates.

  7. The Power of Social Media, Influencer, and Email Marketing
  8. Realtor Digital Sales

    Social Media is now no longer restricted to being a means of only entertainment, but it has also become a leading medium of digital marketing. Large numbers of people use various social media platforms, and they offer a ready base of potential consumers. Platforms like Facebook, Instagram, LinkedIn etc. can be used individually and collectively for a brand to communicate information about itself and market the products. With the improvement in technology, social media platforms have evolved to also have options of running digital advertisement campaigns. If utilized well, social media can become a very effective channel of digital marketing.

    Emails are a tried and tested mechanism for realtors to be able to nurture leads. Targeted content sent through email campaigns can be helpful in increasing sales.

    Influencer marketing is the process of using social media influencers for the marketing and promotion of a product or service. For real estate sales, influencer marketing is very beneficial since it can be used to reach targeted audiences, and attract local following. This local following can greatly boost real estate sales, since specific and niched consumers can be made become aware of real estate businesses and inventory.

  9. Creating Virtual Home Tours
  10. Realtor Digital Sales

    The marvel of technology allows realtors to now create virtual home tours, and give homebuyers an experience of what actually living in the property would be like. These home tours can simultaneously also be used as visual content pieces in the digital marketing strategy. Including content such as this will make the property more desirable to people, and thereby make the marketing effective to generate more leads.

Digital marketing is a useful mechanism for realtors, but it has to be strategized and executed well to be effective. BeyondWalls – an Integrated PropTech Ecosystem can be a reliable partner for a realtor. BeyondWalls is not only a real estate marketing agency, but it also provides end-to-end project planning and sales services. BeyondWalls provides the best, go-to marketing strategies which are data-driven and can efficiently be used to reach target audiences. This becomes extremely crucial in areas like social media and influencer marketing, where it is essential to choose the right influencer or the right social media channel which can attract the local following of interested and potential consumers.

It aims to make real estate highly simplified and convenient for realtors, developers, as well as homebuyers.

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Real Estate Marketing

How Much the Indian Real Estate Industry Has Changed Since the Pandemic?

The real estate industry looks unrecognisable compared to the last couple of years. The primary reason behind this change is the onset of the global coronavirus pandemic, which turned the world upside down overnight, and real estate was a part of that revolution too.

In this particular industry, where everything used to work on paper-based processes and real-time, physical meets, challenges came out to be tougher than thought. The adoption of real estate technology came in late, and the industry saw an uplift only as the pandemic started to fade away.

This change sparked a series of events where now the role of technology has increased significantly in the property industry. Automation, Online Collaboration, Digital Payments, and more as part of the integrated PropTech ecosystem have simplified real estate processes and are on the verge of transforming them completely.

So, whether it is the new ways of selling, marketing, forming partnerships, or bringing new experiences directly to the customers, the stakeholders must stay relevant to news, developments, and trends and be ready for any kind of unexpected changes that come forward in the industry.

And for the year 2022, we will take a look at some recent developments that have happened since the decline in the global coronavirus pandemic. Let’s start with the rise of PropTech.

The Rise of PropTech

integrated proptech ecosystem

PropTech, or Property Technology, rose in the aftermath of the global pandemic. Taking advantage of real estate technology, businesses simplified their operations while driving maximum productivity and efficiency.

PropTech is revolutionising the industry in terms of:

  • Regulation & Governance- Government Schemes & RERA in favour of customers
  • Digital infrastructure – Taking the lead in digitalisation
  • Tech-savvy Talent – High-quality tech talents

All of this development translates into:

  • Digital real estate search and transactions
  • Virtual reality/augmented reality for virtual site visits
  • Big data and analytics for making informed decisions
  • Building & construction efficiencies.
  • Home automation and smart buildings.
  • IoT-based amenities & facilities

Ultimately, PropTech is paving the way for generating more revenue, saving on costs, & optimising the operations.

Preference for Co-working Spaces

integrated proptech ecosystem

Commercial real estate is also on the verge of witnessing a whole new trend. The balance of owning a dedicated place for work has now shifted to investing in a co-working space where businesses can hire space and make rooms as per their convenience. This change is also coming from the likes of having the support of integrated PropTech ecosystem.

Here’s why co-working spaces are witnessing a surge:

As the business doesn’t have to pay for the complete setup, they don’t have to pay for the same. Such smart investment turns to save a lot of money for companies

The convenience of running the business twenty-four by seven without restrictions

The presence of extra activities and refreshments for employees in a co-working setting. Such a setup contributes to employee satisfaction alongside delivering high productivity and efficiency from the business

A sharing platform with other businesses in the same space. Investment in co-working space can form collaboration, make new contacts, and forge new partnerships

The Rise in Pricing

integrated proptech ecosystem

The rising demand for homes, rising costs of materials, and developers looking to take a more significant portion of profit have resulted in a hike in the overall costs. As per the reports, the average price range across cities goes from 7% to 1% for the cities Bengaluru, Pune, Mumbai, Kolkata, NCR, Ahmedabad, Hyderabad, and Chennai.

From the perspective of developers, they have been reluctant to increase the pricing of their homes given the conditions of the global pandemic. However, as now the world is recovering to its original place, developers have been seen reviewing their pricing strategy and starting to increase their pricing.

Experts say that first-time homebuyers must take action now if they want to invest in real estate before the prices rise even more.

Government Schemes & Offers

integrated proptech ecosystem

The good news for homebuyers came in the form of this year’s 2021-22 Union Budget that involved extending the tax exemption benefit on interest on housing loans up to 1.5 Lakh. The Tax Holiday and affordable housing projects also received positive news in the Union Budget.

The government has also announced the establishment of the Affordable Housing Fund (AHF) at the National Housing Bank (NHB). The initial capital came to be Rs 10,000 crore to finance HFCs using priority sector loan shortfalls from banks and financial institutions.

Furthermore, the Pradhan Mantri Awaas Yojana has received special attention, particularly in rural areas. This move recorded a Rs 48,000 Crore allotment for constructing 80 Lakh residential units across the country.

Another move from the government was directed towards digitalisation of land records that have been paper-based for so long. Such a powerful move will give a boost to real estate technology and also the whole integrated PropTech ecosystem development.

Increased Traction from Homebuyers

integrated proptech ecosystem

Besides all these major cities mentioned earlier, online research and ongoing trends highlight tier-II cities such as Surat, Jaipur, Patna, Lucknow, Coimbatore, etc, seem to be back on continuing remote working policies. The result of this ongoing movement will favour homebuyers as they will look forward to owning larger homes within a larger neighbourhood with better access to healthcare, safety, openness etc.

The Emergence of New Factors

integrated proptech ecosystem

With so much progress toward sustainable development, large-scale projects are opening new ways to pull large amounts of investments. The emergence of green initiatives such as electric vehicles, solar energy, water harvesting, and data centres are driving commercial and residential real estate despite convention and retail spaces taking a major hit in the pandemic.

BeyondWalls being a leading real estate marketing agency, has witnessed a surge in customers’ demands to advocate the use of technology and green initiatives.

The Stability of Affordable Homes

integrated proptech ecosystem

Tracing a decade back to today, the demand for real estate has undergone a structural transformation on both the demand as well as the supply side. However, this fluctuation has made the whole residential space buying relatively safe for the homebuyers. Especially the affordability part which has seen monumental improvements over the past seven years.

The price changes that have happened in the last 5-7 years have all led to better affordability of homes. At the same time, the rate of home loan interest has been a deciding factor in improving the state of affordable homes in the past couple of years.

The Indian housing sector has been facing a number of challenges with regards to increasing inventory levels, extremely high unsold housing stocks, buyers’ market sentiments, investors getting cautious and so on. However, the positive sentiment is slowly coming back into the market without any cues from external factors.

Emerging signs of a turnaround in sentiment, demand, pricing, and sales have all combined to suggest that it has been out of the woods. With a changing outlook for India, we can now look at the housing market with more optimism than ever before.

Real estate developers and brokers can stay up to date on the latest trends, real estate market & technology by following India’s best Integrated PropTech ecosystem — BeyondWalls.

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Real Estate Sales

Real Estate Lead Generation Strategies That Will Greatly Increase Conversions

The real estate industry is highly competitive. With the ever-growing competition, technology-centric development, customers’ demand, and regulations & rules, it can get challenging to market & sell real estate properties. However, among all, getting potential prospects as leads and turning them into paying customers is the biggest challenge affecting the ROI directly.

CRM software company Hubspot estimates that around 61% of marketers have reported real estate lead generation as their biggest real estate challenge. The hurdles come in the form of capturing leads, segmenting who is the right fit, who is motivated to make a purchase, and who is ready to buy or engage with the service. While all these leads can be captured online, the real task is converting them into qualified ones.

Keeping all these challenges in mind, we have come up with the top 10 real estate lead generation strategies that will help businesses to engage the maximum number of prospects and convert them into paying customers.

  1. Understanding Goals, Platform & Content
  2.  Lead Generation Strategies

    You must set realistic goals for your business before you market your properties in front of thousands of people. These goals must be achievable and must be formed according to the SMART principle — Specific, Measurable, Attainable, Relevant, and Time-bound. A simple example of setting a realistic goal would be deciding on the number of real estate leads over the course of a particular time.

    Once you have drilled down your goals, you then come down to choosing a real estate marketing platform that works best for you. While Facebook and Google ads will serve your marketing aspects better, there are other platforms that you can choose as per your needs & requirements. LinkedIn, Taboola, Google Banners, and YouTube, amongst others, are examples of great platforms that can be utilized to a greater extent.

    After you are done with planning, you can focus on the content that you are going to deliver in order to improve real estate sale. Your marketing content must be precise, grab the users’ attention, and give them something no competitor provides. Some aspects you need to factor in are; writing catchy headlines, presenting relevant information, and including actionable CTAs.

  3. Setting Up an Effective Ad Campaign
  4.  Lead Generation Strategies

    In real estate marketing, with the right campaign, you will inform customers of your product or offerings. Your campaign must be set in a way that captures prospects’ attention and entices them to use your product or service. Irrespective of your platform and marketing channel, your communication must be clear and consistently in line with your products’ designed goals.

    Here are some of the pointers that will help you set up a good campaign:

    • Display your USPs
    • Give them offers
    • Offer benefits over advantages
    • Taking aspiration, emotional angle
    • Powerful CTAs
    • Create Urgency
    • Build word of mouth

    There is a multitude of factors that can help you set up a good campaign. The above-mentioned would be adequate for starting out.

  5. Having an Impactful Website
  6.  Lead Generation Strategies

    A website is an effective place for real estate developers to showcase their properties. A visual-driven landing page with clear communication can generate a lot of leads for a real estate business.

    While visual-driven graphics and compelling copy will surely help, you can increase your chances of getting leads by using lead magnets through live chat or offering a valuable gift in exchange for an email or a phone number. These magnets can be downloading floor plans, getting exclusive offers, and asking for email IDs through chatbots before answering any questions.

    Further, your website can be extended to having testimonials, blogs, media links, and social media links to increase lead generation chances.

  7. Utilizing Social Media to Increase Real Estate Sales
  8.  Lead Generation Strategies

    Social media grants real estate businesses the power to dive into the minds of customers and deliver the very information they want. However, its selection will depend on the initial stages of deciding on the platform. Businesses can use social media to:

    • Create catchy, visual-driven images on Instagram
    • Attract traffic from LinkedIn
    • Create a custom audience on Facebook
    • Micro-blog updates on Twitter

    Another significant advantage social media offers is the understanding the customer sentiment to learn more about their preferences. Customers can be engaged quickly and easily with every question or query answered.

  9. Making Informed Decisions with Powerful Analytics
  10.  Lead Generation Strategies

    Your complete control over data metrics & analytics will open doors to understanding customer sentiment and optimising your real estate marketing campaign as you proceed with your objectives.

    With website analytics, you get to learn a lot of information about which users are visiting, how much time they spend on your landing page, which section they interact with the most, and whether they are clicking on the CTA. The same extends to your ad campaign, real estate sales, email marketing, and how your ads are performing. With detailed information, you will learn, evaluate, track, and optimize your content to increase the chances of people enquiring.

  11. Nurturing Customer Effectively
  12.  Lead Generation Strategies

    Nurturing is important as it can directly make up the mind of the customers to make a deal. With the right set of drip emails, you build trust with your customers and let them know you care about them and are not just there to complete transactions.

    The following are some ways to lead to effective real estate lead generation.

    • Leverage targeted content
    • Use multi-channel techniques
    • Focus on multiple touches
    • Timely follow up
    • Send tailored content
    • Prioritise using lead scoring
    • Align sales and marketing strategies

  13. Using Word of Mouth Marketing
  14.  Lead Generation Strategies

    This refers to a free kind of marketing where a customer refers your product or service to his friends, family, and others and convinces them to engage in the same service. As per stats, this is one of the powerful forms of advertising as more than 90% of people trust recommendations over any marketed content.

    Word of Mouth marketing is a direct result of:

    • Delivering exceptional service
    • Giving exclusive services
    • Providing good after-sales service
    • Offerings gifts & rewards

    Real estate businesses can encourage WOW marketing with a host of special offers & discounts on referrals and providing good post-sales services.

In Conclusion

As stats point out, real estate lead generation comes off as a significant challenge when marketing and making real estate sales. However, with the help of technology and a detailed plan, the hurdles can be overcome easily. Real estate businesses can use the above-mentioned strategies to generate qualified leads and turn them into paying customers.

At the same time, real estate businesses can take the help of a full-fledged PropTech Ecosystem such as BeyondWalls to generate leads without much effort.

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Real Estate Sales

Overcoming the Next Slump: Guiding Principles for Developers in Pune

The Indian economy has proved resilient time and time again. Even the pandemic, which was one of the worst disasters in human history, could not completely derail it. However, the recovery has been slower than many expected. And now that we are inching towards the pre-pandemic levels of economic stability, the Russia-Ukraine war has emerged as a major roadblock. The price of most raw materials has shot up, leaving developers with no choice but to pass on the hike to their consumers.

This coupled with the recent slew of repo rate hikes by the RBI will lead to a dip in home buyers’ appetite. Given that real estate is the second-largest employment generator in India and is expected to contribute 13% to India’s GDP by 2025, we might be heading to a mild recession in the next 6-8 months.

There are more than 4,80,000 unsold units in the top 7 Indian cities as per RERA and IGR data. Pune contributes more than 9% to this number with 45,000+ unsold units, which, at the present rate, will take another 2 years to sell. And yet, we see new projects being launched regularly.

Developers looking to overcome this situation in Pune must strive to understand the changing customer preferences and tailor their offerings to meet demand. Today, while developers are offering marquee properties at a premium, the consumer has become fiscally conservative and is unwilling to spend as much.

BeyondWalls latest market research in Pune corroborated this fact and unveiled some startling insights:

  • Right now, price is the sole decision-making factor behind a purchase.
  • Homebuyers are extremely concerned about the lending rates, economic conditions, and construction risks, and are willing to delay their purchase till they get the right deal.
  • Even in the present situation, the demand for affordable and mid-segment properties remains steady. 2BHKs in the range of INR 50-60 Lakhs are highly sought after.
  • Just 10% of buyers are willing to spend at a premium and even they have fixed budgets and are in no hurry to purchase.
  • Mid-segment is the only inventory that will continue to sell even as the rest of the segments remain stagnant over the next 6-8 months (The only exceptions to this will be projects placed at a premium location and with a significant competitive advantage.)
  • Customers in the current buying cycle are more inclined towards properties that are ready or nearing possession. They will only choose a new launch if its price benefits them.

These insights make clear the need for the right pricing strategy and that any wrong move will hurt the sale of projects. To avoid real estate sales stagnation, here’s what developers must consider when planning a new project:

  • Market demand
  • Product-market fit
  • Sale velocity of the micro-market in the product segment
  • Target buyer’s financial conditions, based on predictive research
  • Communication strategy that markets the product to the target audience

Even with all of this as a guiding principle, developers need to leverage data in their decision-making process. They must make informed decisions that are backed by critical metrics and actionable insights. The first step is analyzing the wealth of data that has been accumulated as a result of their digital transformation initiatives. This would help them understand their target customers, sell their inventory, and ride out the next economic slump with relative ease.

Sources:

  • Primary market research
  • Data from RERA and CREMatrix
  • Business Standard (some information but not data)
  • IBEF