The Evolution of Sales & Marketing in Real Estate
Real estate marketing has evolved significantly over the past two decades. The internet and the emergence of digital technology have played a huge role in this. The availability of online platforms has completely changed the way real estate developers, real estate buyers, and intermediaries (agents/brokers) interact with each other. This has led real estate companies to modify their sales & marketing efforts in ways that they can engage their audience online.
Traditionally customers would reach out to a real estate developer’s office or to brokers or agents to enquire about properties, after which they would visit the property and then make the buying decisions. Now a site visit can be scheduled within the click of a button, one can view floorplans on websites from the comfort of their homes. Isn’t that amazing?
Before we dive further into this, let’s look at how the real estate sector evolved.
Phases of Real Estate Sales & Marketing
Over the years, real estate marketing has gone through three distinctive phases. Here is an overview of it:
- Use of Signages: Although signages are used till date, they were the primary mediums of real estate marketing back in the day.
- Use of Print Media and Direct Marketing:Print media continues to be an important medium of marketing in the real estate sector. However, now with the emergence of digital media and digital marketing, the sector’s reliance on print media for marketing has reduced. Direct marketing through flyers and brochures was a big hit back then and it continues to be in use to date. The only difference is that now flyers, brochures, and other marketing collaterals can be made digitally. Thus, saving up on printing costs.
- Integration of Digital in Real Estate Sales & Marketing:With the emergence of digital and its integration in real estate sales & marketing, real estate developers have an online presence. Websites and social media platforms serve as an effective medium of reaching a larger audience than, which can be reached through traditional mediums of marketing like newspapers, flyers, brochures etc.
The Role of Covid-19 in the Shift Towards Digital
The pandemic disrupted almost every industry. However, its impact on the real estate sector encouraged real estate developers to adopt digital technologies to conduct their businesses. Who would have thought of investing in conducting virtual site visits, if it was not for the pandemic? Slowly, real estate companies and their intermediaries are getting accustomed to the new normal of digitizing sales marketing initiatives.
Home buying behavior has changed post pandemic, and it has become vital for real estate developers to keep pace with the changing times. By going digital, developers/brokers can reach their target audience within the click of a button.
Adoption of Digital Technology
In today’s digital age, by utilizing powerful tools like real estate CRM, Facebook and Google, real estate developers or brokers can find the right prospects, target, and nurture them. Although there is a buzz around adoption of digital technology in the real estate sector; it does not come without challenges. Adopting a new technology companywide requires a well thought out process to:
- Address people challenges.
- Make provisions for investment in digital technology and for its integration with the existing IT infrastructure of the company
- Take appropriate measures to manage and protect the data that’s collected though digital marketing initiatives
How Can You Go About Digitizing Your Real Estate Business?
Here is how, by:
- Designing a digital sales & marketing strategy
- Investing in digital platforms
- Training employees to use the digital platforms
- Making provision to measure digital campaigns and their effectiveness
By now we have understood that digitization is crucial to the growth of the real estate sector. Since the core strength of a real estate company is building state-of-the-art infrastructure, it is important that they join hands with a firm that specializes in real estate sales & marketing.
By outsourcing sales & marketing, the real estate company gains access to a pool of experts who specialize in real estate sales & marketing.
Are You Looking for An Expert in Real Estate Sales & Marketing?
You are on the right track. Instead of devoting any unnecessary time, outsource your sales & marketing to BeyondWalls today!
BeyondWalls is a tech-driven platform that enables collaboration between real estate developers and real estate channel partners (brokers) with a view to provide a seamless end-to-end offering for the home seeker.
Backed by Majesco, a publicly listed tech firm, and powered by a 200-member team of K2V2 Technologies, an award-winning PropTech firm, BeyondWalls aims to be a one-stop transparent and trusted platform for the entire real estate ecosystem in India.
At BeyondWalls we believe that property selling should be an integrated approach and we know how to do it best. We are trusted by some of the most renowned names in the real estate sector.
With over 1000 happy customers and a track record of generating over 50 million leads across channels, we are undoubtedly a one-stop solution to help real estate developers in India to reach their sales & marketing goals.
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David E. Walden
Thanks for sharing this kind of knowledge.
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