Category: Real Estate Sales

When it comes to business expansion in real estate, there are several steps that you can take in 2023- some of these include hiring more staff, outsourcing work to other businesses, or collaborating with a BPO provider call support. An alternative choice is having a channel partner- a company or real estate broker platform that aids in promoting and selling your goods or services.

In the realtor business, partnerships and real estate sales are essential. Having strong channel partners will not only help you access resources and networks easily but also boost your business by improving your business’s visibility in the market.

Read on to explore how your company can grow to new heights with the support of channel partners and  real estate marketing.

• They Help by Sharing Sales Responsibilities

Channel partner networks can assist you in establishing contact with potential new clients who may not be familiar with your company. They can aid in spreading the word about your company to a huge new audience by informing their clients about your goods or services. Even after a customer has signed a contract with you, your partners can still sell them better properties and projects since they keep ongoing ties with their contacts. It’s a present that never runs out.

• They Help in Filtering Out the Right Prospects & Increasing Conversion Rates

Your lead conversion rate can also be raised with the aid of channel partners. When you collaborate with a business, they frequently have a sales team of their own that can promote your goods or services to their clients. This can be very advantageous if you sell a complicated good or service.

You can generate more leads with the assistance of some  channel partner networks that offer lead-creation services. You may improve the number of high-quality leads you have access to by using these services. As a consequence, you’ll be able to close more sales, which will help your company expand more quickly.

• They Help You with Expanding Brand Awareness through New Channels

The ability to increase brand recognition is one of the key advantages of working with a channel partner. When you partner with another company, you essentially form a team to market your goods or services. This implies that your brand and your products will be known to their customers. Channel Partners can also assist you in expanding your market reach.

You can easily and rapidly increase your reach without putting in more effort by collaborating with a business that already has a presence in these markets. A good internet presence is crucial in the commercial world of today. Your online presence can be improved by channel partners who advertise your goods and services on their websites and social media pages.

• You Can Use One Broker Network to Sell All Projects

Each lead is completely identified when you try to sell directly through channel partner networks or  real estate broker apps. The potential clients already have a source of reference through someone they know and trust when you sell your projects through a partner program. As a result, they are more likely to trust your brand, which should increase your conversion rate.

Building closer connections and utilizing a single, unified broker app with your clients is another fantastic advantage of working with channel partners. When you collaborate with a business, they are more likely to help you sell your goods or services to their clients. It implies you will have the chance to establish rapport with these clients and give them the greatest possible experience.

Conclusion

The five advantages discussed above convey how and why working with channel partner networks is beneficial in today’s world. Companies that cultivate strong relationships with their channel partners benefit from a wide range of advantages, such as greater customer insights, improved efficiency in operations, an increased ability to respond quickly to changing markets, and many more.

BeyondWalls is a renowned real estate marketing agency in Pune contributing to real estate sales growth for many developers across India. With its huge channel partner network, BeyondWalls has successfully provided all the necessary resources for multiple developers starting from a real estate project launch to booking conversions and even after-sales services.

So, when Peninsula Land Ltd., one of our major clients came to BeyondWalls with an objective to create high aspirational value for its project Peninsula AshokVann, we ensured that the project becomes the most appealing choice for the customers. We did this by tackling challenges with a differentiated approach to achieve effective results efficiently. Before diving into its dynamics, let’s first explore Peninsula AshokVann comprehensively.

Introducing Peninsula AshokVann

A gated plotting community amidst the scenic views of lush greenery, Peninsula AshokVannn is Situated in the prime locality of Gahunje. It is well connected to the infrastructural hub of West Pune. The project occupies a sprawling area of 19 acres, of which 8+ acres comprise open spaces. Plus, as revealed before it is developed by Peninsula Land, Ashok Piramal Group. AshokVann successfully combines the serenity of nature with an urban living experience.

Now that we have established what Peninsula Ashokvann is, let’s dive deeper into how BeyondWalls helped the project in gaining maximum outreach.

Challenges Addressed by BeyondWalls

• Lack of Product Awareness – Peninsula AshokVann is a one-of-a-kind project that was previously unknown. To make consumers aware of the benefits of investing in it, the appropriate communication and branding strategy had to be used.
• Lack of Urgency for CustomersPeninsula AshokVann is not a project with an immediate end-use in mind. Because it was made up of villa plots, there was no need for consumers to make a quick purchase.
• Uncertainty of Token Conversions – There was uncertainty about the tokens secured by the project due to the strong presence of market competitors

The Go to Market Strategy Applied by BeyondWalls

• Product Positioning – We centred the project on the ‘luxury of space’ it provides. The product positioning narrative focused on how consumers can build their dream homes on spacious lands surrounded by nature as well as modern lifestyle amenities, where value proposition, conceptualization, and extensive market research assisted us in developing the right positioning strategy.
• Value-based Selling – We informed customers about the high value of purchasing villa plots and how it could provide a good return on investment. Creatives were created to explain how villa plots could be more cost effective than ready-to-use properties. Plot size, constructed carpet area, total price, and effective rate per sq. foot were some of the factors considered for this comparison, and calculations against each of these criteria revealed that Ashokvann’s plots had more value associated with the purchase.
• Omni-channel Marketing & Sales – An omni-channel approach was also used, coupled with the application of various platforms. Digital remarketing, as well as OOH activation and word-of-mouth marketing, were used. The online remarketing strategy was implemented concurrently via multiple channels, including the website, email marketing, the launch of digital ads utilizing the full capabilities of the Beyondwalls real estate brokers app.
• Channel Partner Aggregation – BeyondWalls’ extensive network of Channel Partners was used to broaden the scope of the marketing efforts. They, too, used the value-based selling approach, which made Ashokvann appealing to customers. In order to generate interest in the project, we also organized an on-site event for Channel Partners.
• Enhanced Customer Experience – During the launch, customers had a smooth and seamless experience. IRIS, a technology platform, was used to optimize the entire booking process, which included event curation, closure tools, 360-degree virtual link generation, and Razorpay Payment Gateway Integration. All of these features contributed to a better overall customer experience. Consumers were given information about the pricing model, as well as a special launch discount.

It was evident now that with BeyondWalls intervention, Peninsula Ashokvann became a desirable and one-of-a-kind real estate opportunity thanks to the proper project positioning and marketing strategy.

Making It All Possible

BeyondWalls managed to generate leads up to 4355 out of which, 488 successful site visits were made possible from 93 tokens with over 30 successful bookings and more than 200 units were sold! In this way, people searching for residential NA plots in Pune, found their home in Peninsula Ashokvann with a sizeable contribution from the BeyondWalls team.

The Indian real estate market is growing at an ever-increasing rate. With the rise of technology, more and more brokers are turning to mobile apps for their real estate needs. In this blog post, we’ll take a look at the top 5 real estate broker apps in India for 2024 and what advantages they offer – from price comparisons to virtual tours and more. Keep reading to discover which apps can help you take your business to the zenith of success!

The Importance of Mobile Apps for Real Estate Brokers

Over the past few years, there has been a dramatic rise in the number of mobile apps being used by real estate brokers in India. This is due to the fact that these apps offer a number of advantages over traditional methods of marketing and selling properties. Some of the main advantages of using real estate broker apps include the following:

• • Increased Visibility:

With so many people now using smartphones and tablets, it is important to have an online presence that potential buyers can easily access. By having a real estate broker app, you can make sure that your properties are always visible to those who are looking to purchase, and you can connect to them instantly.

• • Greater Flexibility:

One of the great things about using an app is that it allows you to be much more flexible in how you market your properties. You can update information and photos quickly and easily, and you can also target specific demographics with ease.

• • Better Customer Service:

Another advantage of using a real estate broker app is that it allows you to offer better customer service. With most apps, you can set up push notifications so that customers are alerted as soon as new listings become available. You can also use the app to answer any questions they may have about the property-buying process.

• • More Leads:

With real estate brokering, you can generate more leads than you would through traditionally marketing methods. This is because potential buyers will be able to find your properties more easily and will be able to contact you directly. You will also be able to connect to them and store core lead information easily.

Top 5 Real Estate Broker Apps in India

Now that we have understood the importance of mobile apps for brokers, let’s dive into the top 5 apps that are changing how brokers navigate the real estate industry.

1. BeyondWalls Brokers App

Being India’s leading integrated PropTech ecosystem, BeyondWalls Brokers app for real estate agents has transformed its tech-driven platform into an easy-to-use mobile app offering end-to-end services to real estate brokers.

The app couples a seamless user experience with its distinctive features to empower brokers to sell more and grow their businesses. Custom lead form fields, robust data capturing, on-time notifications & reminders keep brokers on their toes and let them know what’s hottest in the city and what’s trending, all the while enjoying high incentives and timely payouts. Known as SuperBrokers, BeyondWall’s connected channel partner network also get marketing collaterals, tips and tricks, and rewards & recognition from the firm’s marketing division at no additional cost.

2. Broker Network

Designed to be a suite of services for brokers, the Broker Network acts as a bridge that connects brokers with properties and brokers with buyers. The app features a new launch feature that allows brokers to know about upcoming projects and get in touch with the developer through the app.

The app has all the features brokers look for, including posting the property, real estate project launch, adding the team to the organization, securing leads, chatting with customers, special offers, invitations to exclusive events, CP meets, and more.

3. Magnet Real Estate Broker App

A new real estate broker app in the industry, Magnet, was introduced to the real estate realm in 2019, taking on existing prominent players in CRM, lead management, and the real estate channel partner business network. Centred around the growing needs of real estate agents and businesses, Magnet has come out as a 360-degree technology solution covering all the real estate brokering needs.

The app supports real estate brokers with the following:

• Technology: All the capabilities of a real estate CRM software fused with modern technology
• Faster Pay-outs: A stress-free business opportunity for brokers with good customer support and timely pay-outs.
• Higher Commission: Creating a win-win solution with a higher commission slab
• Support: A seasoned team at the helm of supporting brokers
• Magnetshala: Tips & tricks to grow their business.

4. PropertyPistol Syndicate

The PropertyPistol Syndicate is a modern tech-based platform designed with the brokers’ needs in mind to simplify the selling process. PropertyPistol presents a new app-based networking platform, a tool that updates you with the right information and helps you generate quick revenue. Here’s what Syndicate real estate broker app offers:

• Complete control: 360-degree history of leads
• Alerts & reminders: Necessary for follow-ups and action items
• Real-time updates: For real-time needs of the customers
• Customized listing: Client-specific listing creation ability
• Transparency: Real-time updates from developers and clients
• Access to a powerful network: Being a part of the Syndicate ecosystem

5. Propliv Agent

The Propliv Agent platform was specifically designed for Real Estate Agents in India to connect with each other. It helps real estate brokers generate more leads and business opportunities by connecting you with top developers, builders, investors, and owners across the country.

Here are some of the top features of the real estate broker app:

• Access to the real estate inventory
• Alerts and notifications for new properties
• Ability to search as per client’s requirements
• Record site visit experience
• Handsome commissions and incentives

In Conclusion:

Real estate brokerage apps have become a lifesaver for real estate agents and buyers alike. These apps provide numerous advantages as compared to manual methods, such as efficiency, convenience and ease of use. Therefore, it is essential to choose the right real estate broker app for your business in India this 2024.

Real estate brokers can use India’s integrated PropTech mobile app- BeyondWalls Brokers apps for real estate agents, to seamlessly grow their business with the hottest projects, high incentives, timely pay-outs, and the largest channel partner network.

After Russia-Ukraine war, the world collectively saw a downfall of $17 Trillion; 20% of the global output India is among the top 5 countries contributing to this loss and this may lead to a further increase in fuel and food prices. 1/3rd of global economy is in Recession. Globally, central banks have increased interest rates with an aim to reduce inflation. The housing interest rates in India have increased from an average of 6.5% to 8.75%.

The increase in interest rates along with uncertainty in jobs has made homebuyers confused on making any purchase decision. The property prices have already increased by almost 15% in most of the urban markets like Pune, Mumbai and Bangalore. There was almost no effect or say of UDCPR in this price increase.

Property Price Trends – Pune

(*The rates mentioned above are all inclusive rates)

The overall cost of home ownership has increased by almost 58% compared to 2019. Besides that the possession dates have moved ahead by 3 years after RERA, i.e the possession that buyer would generally get within 3-4 years, would now get after 5-6 years.

Although, the demand in mid to premium segment is still intact and the momentum for listed large developers with projects in prime localities and with larger carpet is good. Decision making of the buyer with buying capacity is zeroed down to the brand value, prime location and bigger homes.

The projects in this category of pricing and location will sell but the buyer is not desperate and would not take any decision until he finds the right deal.

What are Home Buyers Saying?

Our research team spoke to over 150 homebuyers to understand their current mood.

• 86.7% people say the increase in interest rate is affecting their buying decision
• 62.3% people are waiting for economic condition to stabilize before they make any purchase
• 25% of the homebuyers have postponed their homebuying decision

 The interest rate may even touch a double digit number in 2023.

Before the situation worsens, it is extremely crucial for developers to manage their cashflows.

The hottest selling micro markets of Pune for eg. – Baner, Balewadi and Wakad, have started seeing drop in real estate sales since July 2022 to the tune of almost 19%; which is indicative of the homebuyer’s sentiment. The developers with right pricing and locality are able to sell, making it a buyer’s market.

The sales trends in hottest micromarkets show a drop in sales after September 2022. There are 1.09 Lac unsold apartments in Pune alone out of which 80,000 are under construction and 28,000 are ready to move in. While there is demand to purchase, there is no desperation and buyer is ready to wait until they get the right deal.

Managing funds to fuel each stage of the project is critical for Developers. Developers need to ensure availability of construction funds so as to de-risk the project. Based on the inventory and sales velocity, developers also need to absorb 50% of their next quarter’s targets into the current one and open up all the channels for widening their top of the funnel. The target should be to sell 35% of inventory to de-risk the project, not to sign any resource-intensive JV and wait it out till the market stabilizes.

Regarding pricing, instead of having a profit-first approach (increasing the price), developers should take a cashflow first approach and stagger their pricing to maintain sales velocity. Market may further dip by 6-7%, this should be kept in mind while taking any big decisions on projects.

Buying and selling a property is a big decision and a big venture and needs a lot of planning and preparation. There are a lot of aspects involved in the process, from listing the property and finding the right buyers to finalizing the deal and paving the way for post-sale services- and it takes a lot of effort in the long run. This blog will look at those steps and how they lead to sales.

Real Estate Sale Process: A Step-by-Step Guide to Follow in 2023

There are a lot of factors that go into making a real estate sales. A set of processes must be followed to sell a residential or commercial property. Once you’re familiar with the process, you’ll be able to confidently sell your property—or buy the home of your dreams.

• Listing the Property

To list your property, get your home ready for sale. Once your home is ready, it will be all set to be listed and shown to potential buyers. The listing process is outlined into four stages:

• Creating a Landing Page

The landing page is where your leads will ‘land’ or arrive after clicking on your paid ads. Essentially, it is a virtual showcase of your entire project. So you can offer all the information about your property concisely without making a website. Use clear and concise language with images. Furthermore, include your contact information prominently on the page so people can quickly get in touch with you.

• Create Listing on Property Sites

To list your property on one of these sites, you will typically need to create a user account and share all the relevant information about your listing. By creating a listing, you can share all the information about your property, such as its features, photos, and contact information. 

• Creating a Digital Presence 

Creating a comprehensive and effective digital presence is essential to enhance your real estate sale process. You should also ensure that your listings are easily accessible on all major real estate listing portals. 

• Marketing the Listing

Real estate marketing is key to sale strategy once you are ready to list your property for sale. It is essential to ensure that it is well-written and informative, with high-quality photos that accurately represent the property.

In terms of actually marketing the listing, there are a number of different channels that can be utilized. It is essential to use as many channels as possible to maximize its reach. 

• Staging the Property

When it comes to the real estate sales process, first impressions are critical. This is why staging the property is so important. By taking the time to declutter, personalize, and stage your home, you can make it more appealing to potential buyers. 

When you’re ready to sell your property, you’ll want to let potential buyers know all about it. You can do this in several ways, such as through online listings, print ads, open houses, and word of mouth.

Organize as many property visits as possible to improve your real estate sales strategy. Make sure potential buyers can view your property in person and get a feel for what it would be like to live there.

• Promoting the Property

When selling a property, it is essential to promote it to attract potential buyers. Different methods are available that can help businesses reach more people daily. Social media plays a vital role in this regard. Apart from that, other paid advertisements and email marketing can also help promote a property, so it reaches the target customers.

• Run Email and SMS Marketing Campaigns to Prospects

You can create a list of people interested in buying the property and send them regular updates about your listing. Be sure to include information about any open houses or special events you host. You can also use this platform to answer any questions prospects may have.

• Offers and Discounts

Offering a competitive price or other incentives can encourage buyers to put your property at the top of their list. However, it’s essential to be strategic when offering discounts, as you don’t want to devalue your property or leave money on the table.

• Keep Your Prospects Posted w.r.t any Developments

As a property owner, it is your responsibility to keep your prospects posted on any developments during the sale of your property, i.e., informing them of any changes in the price, status of the property, or any other important information. Keeping your prospects informed can build trust and credibility, ultimately leading to a successful sale.

• Negotiating the Property

When selling a property, it is essential to be aware of the current property rates in your area. If prices rise, you may get a higher price for your home. Additionally, overpricing your home will likely prevent it from getting sold. Furthermore, it is also essential to be flexible on that terms.

• Closing the Deal

After you have negotiated the sale of your property, there are still a few things to do before the deal is closed. You will need to sign a sales contract with the buyer. Once the contract is in place, the closing date will be set. On the closing date, the buyer will pay the purchase price, and the property will be transferred to their name.

• Complete the Paperwork

The paperwork for selling property can be overwhelming, but it is essential to ensure a smooth transaction. Consult with an experienced real estate agent to determine what paperwork is required. Gather all the required documents, including the sales contract, title insurance, and any disclosures.

• Pave the Way for Post-sales Service

Once your property has been sold, a few post-sale services still need to be taken care of. These include things like transferring the title of the property to the new owner and dealing with any final payments that may be outstanding. This is one of the best real estate sales tips that can change the game for you in the long run.

Conclusion:

The real estate industry is amidst a digital transformation, and BeyondWalls is at the forefront of this change. It is India’s only integrated PropTech Ecosystem that helps buyers and sellers streamline the sale process- they have quickly become the go-to platform for Real Estate Developers and Channel partners.

The company has helped connect hundreds of home seekers with their dream homes and has been praised for its easy-to-use platform and customer-centric approach. They make it easy for buyers to find properties that fit their budget and preferences and for sellers to list their properties and reach a wider audience.

India recorded a staggering number of 658 million internet users this year. With the help of these statistics, it can be concluded that there is an enormous digital presence in the country, and that people are increasingly relying upon it. Real estate has a commercial stronghold in the country, and it is soon expected to account for approximately 13% of the nation’s GDP. Since digitization has taken over so many other aspects of our lives, has a sector as important as real estate also been digitized?

Digitization of Real Estate in India

The answer is a definite yes. A recent survey has shown that upto 40% of consumers today are willing to purchase homes completely online. With the increasing adoption of the internet, it has become the primary source from where most homebuyers begin their purchasing journey. The reliance on physical listings has gone down, and websites and apps have become the new ideal marketplace for real estate properties.

The pandemic played a major role in this change, since it made people more familiar and comfortable with the digital world. In the case of real estate, the emergence of Proptech too contributed to the increasing popularity of real estate online sales.

The Role Played by PropTech

Proptech is the combination of ‘Property’ and ‘Technology’. It means the adoption of technology for various aspects related to property development, marketing & sales. With the growing presence of Proptech and emergence of more PropTech companies, the real estate industry has been completely transformed.

Real estate sales are the most crucial aspect of the operations of the industry. It is the main source of revenue for the industry, and hence it is essential that sales are carried out as productively as possible. Such high productivity can only be attained with tech adoption, which is where Proptech benefits the industry,

Here’s how PropTech is enabling digitization in real estate:

1. Enhancing Marketing Efforts:

Marketing is the step that precedes sales, because it is only through marketing that your brand and its products can be seen by your target audience. With PropTech, marketing efforts can be automated to yield maximum results for minimum efforts. It also has a variety of other benefits such as:

• Efficient lead generation and lead capturing
• Enables personalized interaction with leads
• Omni-channel marketing

These benefits greatly help in creating a bridge between a real estate brand and a homebuyer, which can ultimately result in optimizing real estate marketing and sales efforts.

2. Enhancing the Site Experience for Consumers:

Site visits can make or break a real estate sale. The most significant advantage that Proptech has for the digitization of sales, is the enhancement of site experience for consumers.

Proptech has brought with it several new technologies, such as VR and AR, with the help of which a site visit can be experienced by consumers from any corner of the world. Sales are no longer restricted within geographical boundaries, which expands the scope of sales.

Furthermore, site visits are also not limited to properties with completed constructions. Under-construction properties can be transformed by technology, and the site visit can give consumers a feel of how the property will look upon completion. With this, the sales velocity can be boosted since even under-construction properties can be sold.

3. Seamless Sales Cycle:

One of the biggest challenges in the traditional real estate sales process is that it is not simplified. There are a lot of complications and nuances, which prove to be a hassle for consumers. Proptech, however, has created a smooth and seamless sales cycle.

During the sales journey, consumers need to be nurtured and kept engaged. With automation, these tasks can be easily and effectively managed. Timely interactions can be initiated with consumers at every stage, and communication too can be made personalized based on the unique requirements and preferences of each consumer.

• Property negotiations
• Finalization and closure of deals
• Tracking and execution of payments
• Document creation and management

can all be performed with the help of technology. With the streamlining of these activities, the entire sales cycle is optimized.

Proptech is thus the foundation upon which the digitization of real estate relies. It has disrupted the traditional operations of the sector, making it highly efficient and effective.

Case Study for Real Estate Sales Digitization- Mahindra Happinest

Happinest Palghar, a project of the renowned housing society Mahindra Happinest, had a landmark launch and sales process.

The project was launched during the covid outbreak, where people were extremely hesitant to step out or interact with other people. This made the traditional real estate sales process an impossible proposition for Mahindra Happinest. This challenge gave rise to a revolutionary idea, wherein the entire sales process was made completely digital. India’s leading CRM solution was leveraged to curate a technological platform that could enable the end-to-end online sale of homes.

By harnessing the power of Proptech solution to digitize the sales process, Mahindra Happinest scaled their sales and achieved:

• 300+ bookings in 3 weeks
• 250+ daily virtual meetings

India is on an optimum path to adopt digitization in real estate sales and boost the growth of the sector. Proptech is an inseparable part of this journey and can be the ideal partner for real estate businesses. BeyondWalls is an integrated Proptech ecosystem in India, which can streamline all entire real estate operations. It is an end-to-end marketing and sales partner, which aims to make homebuying a seamless and elevated experience.

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:

1. Use of Signages: Although signages are used till date, they were the primary mediums of real estate marketing back in the day.


2. 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.


3. 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.

The Covid pandemic impacted the world in every imaginable aspect. The most significant of this impact was the standstill that it brought to the global economy, which in turn affected all commercial businesses.

India too felt the sharp pinch of the pandemic in its economic activities, and underwent 2 years of instability in all commercial sectors. The real estate industry was also among the other business activities which were affected. However, the Indian real estate industry proved itself to be highly resilient to such turbulent times and it restabilized in the wake of the pandemic.

Cost Escalation in Real Estate

The disruption of the global supply chain that occurred earlier this year began a cycle of turbulence and volatility in manufacturing costs, which posed a new challenge for real estate. Another downside of this has been the cartelization and arbitrary prices levied by manufacturers, because they are aware of the high demand that is there in the market. These factors are working in alliance with one another to escalate building material costs.

The Impact of Cost Escalation on Developers

As per reports, building material costs for commodities such as cement, steel, tiles etc. have witnessed a year-on-year escalation of approximately 35%. This raw material price increase has caused the cost of construction to rise by approximately Rs. 500 per square foot, as per gathered statistics.

Real estate businesses operate within a delicate network of their stakeholders, each of which are looking out for their personal interests. Developers construct projects which are in turn purchased by consumers, and hence they mutually benefit one other. If either side of this nexus is impacted, the entire system faces a threat.

The Conflict for Developers

The main source of profit for developers in the business stems from the financial surplus that they can generate through the sales of their projects versus the costs that they incur in constructing it. Construction is not the only cost that developers have to bear with respect to a project, since they also have to invest in marketing it well. Hence it is essential for developers to maintain a financially viable difference in their construction costs and selling costs in order to stay afloat in the business. In the present scenario, the developers have been exposed to the stark reality of ever-increasing construction costs. They are now faced with a difficult choice, about whether they should expose their consumers too to these high prices, or bear the costs themselves.

Can Cost Escalation affect Project Quality?

With respect to the first alternative, it is imperative that developers price their projects in accordance with the prevailing real estate price trends. Consumers are demanding properties within certain price configurations, and if developers choose to exceed that, they will be faced with a dip in the demand and sale of their properties. Developers are hence avoiding passing on the excess costs onto their consumers, in an attempt to retain the present real estate sales velocity. This has affected their profits, especially in segments such as affordable housing which are designed and priced with low profit margins.

The remaining alternative for developers then is to keep their project pricing the same, but decrease their own construction costs so as to keep up a profitable difference between the two. The only way for them to do this despite the raw material price increase is to compromise on the quality of their constructions. By altering the quality and quantity of raw materials that are used in a project, the construction costs can be altered in a way that even with the higher prices of commodities and the same prices for property, developers can earn the similar margin of profits.

Why Developers are not Compromising on Quality?

Altering project quality is not a realistic and preferable option for developers since their reputation in the market is directly linked with the quality of their construction. If the quality of projects is compromised, developers might be able to survive in the short-term, but it is not a sustainable pattern to follow. Besides this, there are also rules and regulations which developers have to abide by in terms of construction quality.

How can Developers Overcome the Cost Escalation

It is evident that in the interest of thriving in the real estate industry, developers can neither increase their project pricing nor can they deteriorate the quality. However, with the right project and pricing strategy, they may be able to overcome this cost escalation and maintain their profit margins. It is essential for developers to have a thorough understanding of the market trends, pricing trends, consumer demands and insights of various micro-markets so that they may be able to create and sell properties that are well-suited for the market demands, and earn revenue in the process.

BeyondWalls- an integrated proptech ecosystem for real estate in India can help developers with accurate and data-driven planning and strategizing. It can provide end-to-end services for real estate marketing and sales.