Over the past few years, the property market had begun to embrace the digital world, migrating from conventional property listing methods to the internet. Traditional channels like TV, radio and newspapers that were once effective are now in heavy competition with digital platforms like Facebook, Instagram and YouTube for audience attention.
Besides, buyers are now more savvy and increasingly proactive in the purchasing process – conducting their own research and balancing out the information asymmetry in their favour.
What does this mean for the future of real estate? How can developers and sellers continue to enjoy successful sales in the changing marketplace?
The answer? By leveraging on digital marketing. This article explores the benefits of digital marketing for the real estate industry.
Help save time and money
Investing in visual content that presents properties realistically and accurately is the first step to shortening the discovery process.
Prospective buyers can use digital tools to view properties on-demand, whenever it suits them best. They can also participate in virtual tours that are guided by agents in real time. That way, you will save plenty of time and money on face-to-face meetings and property showings.
The best way to deliver a first-class customer experience is by reaching your clients in the comfort of their homes via virtual tour visuals that will enable them to evaluate properties accurately before they decide to set up a meeting.
For example, IFCA’s PropertyX solution has a dynamic 3D virtual tour feature for photography and video capture via any mobile device.
This technology can be used to view properties abroad or in remote, rural locations. Buyers can click on bedrooms, the kitchen, bathrooms, etc. to give them a clear, 3D view of each room. PropertyX saves real estate agents time and resources on scheduling an open house, acquiring new clients, or retaining loyal customers.
Offer an unforgettable user experience
Consider the experience of homebuyers for a moment. Before they get in touch with an agent, 92% of them will search the internet. If you invest in web-based marketing channels and revamp the online discovery process, you will be helping these buyers find the right property quicker.
As a result, they will associate your brand with an outstanding user experience and professionalism. You’ll become a business they can trust to deliver the right offer right where they feel most comfortable.
Ease of customer interaction
Digital marketing has made feedback and communication that much more accessible to customers.
In this age of technology, businesses should prioritise transparency as good customer service can reflect positively on your brand. People mostly respond to organisations that listen to their concerns and queries. This is often overlooked but a simple response in the comments section or direct message to one of your customers already makes a positive impact that can ripple to how your brand is perceived.
So take the time to respond to your customers. Create engaging content that can stimulate your relationship with them. Keep them updated, and listen to their feedback. It doesn’t cost anything to show them that they’re an important part of your businesses’ community.
Provide real-time insights and analytics
This is the most important asset to digital marketing. Tools like cloud-based property management software and property management mobile solution can help your organisation keep track of the performance of all your published ads and content. This can be transformed into practical data instantaneously.
As many of us are aware, marketing trends are extremely fickle. But with access to performance metrics, you can adjust your strategy to the climate of your industry easily.
Digital marketing can provide you with many opportunities as long as you understand how to wield it to your advantage. As the world evolves to a more digital construct, so should we. It’s time we optimise how we present our properties to potential buyers.
The Internet is here to stay and no digital marketing for the real estate industry can afford to overlook the potential it offers. With the growth of Internet users, competitors are also evolving and making optimum use of the Internet for reaching out to interested buyers.
And this is the time for developers and real estate agents to stand out from the rest and seize the opportunity to use digital marketing and create an integrated online presence, driving more qualified leads to their business.
For more insight into digital marketing in real estate development and proven ways to make property development digital marketing strategy work for your business, IFCA is ready to assist.
Resources and Further Reading
5 Real Estate Digital Marketing Trends That You Should Consider for 2020
The importance of digital marketing
How property professionals can improve their digital marketing strategy
5 Reasons Property Managers Need to Understand Digital Marketing