The Future of Real Estate: Exploring the Mobile Revolution in Property Viewing and Buying
The world is more interconnected than ever. With the rapid adoption of 5G connectivity and its infrastructure, connection speeds have never been faster, and network latencies lower. This means high fidelity mobile internet technology is now accessible to the masses. A classic example is a remote surgeon operating on a patient via a robot whose connection is mediated by this 5G network technology.
For commercial uses, Property Developers also stand to gain from this piece of technology. But how exactly does this trend of mobile transformation elevate their sales?
To enable the developers in carrying out their sales in a more cost effective manner, processes such as property viewing, unit selection and booking can now be done at the convenience of one’s fingertips via the mobile phone, thanks to the sophisticated “Virtual Sales Gallery”.
Previously, homebuying was truly a physically taxing endeavour, whether for personal use or investment. As potential buyers come from different parts of the country, having to brave the congested city to travel to far-flung galleries is certainly time-consuming, and the huge crowd at these galleries often hinder the serious prospects from having a closer look to fully comprehend the pros and cons of each project.
Moreover, if the project offers great quality and value, one needs to queue up early in the morning on the launching day to try to secure a decent unit. No wonder some have even been scouting for their dream home for years!
Hence, the rise of high speed mobile internet and Virtual Reality (VR) technologies has enabled the capability to perform online property viewing, where one can book their dream units without leaving the comfort of their home. This is especially convenient for the outstation or overseas buyers.
With the cutting-edge e-Launch service offered by PropertyX, developers may invite prospects to view the project by sharing a QR Code. The same QR code will also be featured in various promotional materials. Once logged in, they can immerse themselves in the 360° Virtual Tour to visualise the layout of living space in the unit, apart from knowing more about the development through 3D architectural scale model, location map and more.
The developer may upload an unlimited amount of e-brochures, e-sales kits, videos and pictures to the platform, allowing buyers from around the world to evaluate the project and decide whether to book a unit, without setting foot in the physical gallery.
To make it easier for the prospects to share the project with their discerning friends, shareable links will also be provided. With all the viewing traffic flowing through the server, a larger amount of data would be collected, ensuring that the data analytics is more accurate in targeting the right demography.
Sell faster, sell more, sell out
Compared to the existing method, developers stand to gain tremendously by selling their projects via e-Launch, such as the following:
1. Greater convenience for Buyers
Visiting galleries in person is both time-consuming and troublesome. At times the potential buyers might not even be aware of the existence of certain projects. With e-Launch and its virtual sales gallery, the prospects may view your projects conveniently and quickly from wherever they are, at any time of the day, without spending a single cent for travelling and parking.
2. Saving Time and Money for Developers
A lot of expenses related to the physical sales events, including the manpower cost can be minimised, while promotion and transaction can be carried out in a speedier manner thanks to digitalisation.
3. Accessing a Wider Market
The Virtual Gallery will be open 24 hours a day, 7 days a week. Buyers may book a unit regardless of their current location. The purchases are no longer limited to those who can physically visit the sales gallery.
4. Incentivising the Prospects
Since almost everything from viewing, launching, booking, loan application and document submission is done online, it is hassle-free for the prospect to buy a unit in your project. This will greatly increase the prospect’s willingness to buy your project, instead of other projects that have to view and book in person.
5. Speedier Sales
By evoking the impulse of a wider pool of prospects, the units will be snapped up in a shorter timespan. This will contribute to a stronger financial standing for the developer, as a higher progressive payment collected means less bridging loan the developer has to borrow for the construction.
6. Real-time Monitoring & Analytics
By far the greatest benefit of digitising sales is the ability to track user preferences. The statistics of all online activities will be compiled and presented as real-time business insights. What models has the prospect visited? How long has the prospect spent on viewing each layout? How active are the interactions? All this information will come in handy when the sales consultants follow up with the potential customers, as well as the formation of better strategies come the next launching.
7. Improved Conversion Rate
With vital insights about the prospects’ preferences gathered, naturally it is possible to convert them faster since you have a more in-depth understanding of their preferences.
Viewing and Booking without Leaving Home
To kick off a successful e-Launch campaign, the developer can blast the invitation QR code to all the relevant prospects, or advertise it via social media. The names of those who responded will be kept as leads for future launchings.
With the QR code, the prospects may explore the features of the project and immerse themselves in the interior environment of every layout through the 360° Virtual Tour.
All registered participants will be informed of the actual date and time for the project to be launched. On the e-Launch day itself, the booking link in their account will be activated, allowing the users to book the unit they wanted. For developers, organising a grand Property Launching event with thousands of prospects booking the units together is really a dream come true!
Whenever a unit is booked, it will be locked just like how it is done in physical sales galleries, except that in this e-Launch, they can do that from their couch at home.
Through the digital collaborative platform PropertyX, bankers, lawyers, buyers and the developer will share their information in real-time, thus accelerating the process of bank loan application, document submission and signing of Sales & Purchase Agreement (SPA) drastically.
After all, in this era of mobile internet, the general public is quite familiar with online shopping. Now that IFCA Software has put this necessary digital solution in place, all that developers need is to enhance the online campaign to convince the prospects that the projects do fulfil their needs and aspirations, and online homebuying could be the next big break for your property business!
To recap, e-Launching is certainly a game-changer that will disrupt the real estate industry, as it is capable of creating awareness and accelerating sales. In fact, it will improve the chances of selling more units significantly.
To jump onto the e-Launch bandwagon and close more sales, feel free to Contact us for more info.
