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PropTech

What is Property Technology or PropTech?

There has been an uptick in the discussion about tech’s impact on the property market in recent years. As a result, the word ‘PropTech’ has entered the lexicon. The term ‘Property Technology,’ or ‘PropTech’ for short, describes the wide range of applications for information and communication technologies in the real estate industry.

Similar to how marketing (MarTech) and banking (FinTech) have been revolutionized by new technologies, the real estate industry is being reshaped by PropTech. The use of these innovative tools has the potential to streamline the whole real estate transaction, from the initial search to the final closing. In addition, they provide fresh possibilities for property investors.

This blog post will explore PropTech, how it works, and why it matters.

Proptech: What Is It Exactly?

The term ‘PropTech,’ short for ‘property technology,’ describes the use of real estate tech. It may refer to various uses, from PropTech companies shaking up traditional buying and selling real estate methods to more general internet tools and platforms aiding search and discovery.

While the environment of the PropTech industry is ever-changing, the following are some active research areas:

  • Property-related online markets and portals for renting, purchasing, and leasing.
  • Blockchain-based transactional platforms
  • Utilizing artificial intelligence to power property management chatbots and digital assistants
  • Virtual and augmented reality showings and excursions
  • Building automation and energy efficiency enhancement using the Internet of Things

PropTech Technologies

PropTech encompasses a wide range of technologies. However, they may be broken down into the following five areas-

  • AI & ML

    • Two of the most talked-about developments in the PropTech sector are artificial intelligence (AI) and machine learning (ML). The question is, what do they imply?

    Artificial intelligence, or AI, refers to the capacity of robots to carry out activities often associated with human intellect, such as identifying patterns and interpreting spoken language. Machine learning (ML) is the branch of artificial intelligence that enables computers to learn from data and incrementally improve their capabilities.

    The PropTech business uses AI and ML in various ways to change how we purchase, sell, and manage real estate.

    Some Instances are listed below.

    1. Intelligent chatbots: The chatbots powered by AI and ML can be used to help answer customer questions, provide recommendations, and even close deals.

    2. Smart pricing: Using data from past transactions, AI and ML can help predict future property values, giving buyers and sellers a better idea of what to expect.

    3. Predictive maintenance: By analyzing data from sensors placed on equipment and buildings, AI and ML can help predict when maintenance will be needed, preventing costly downtime or repairs.

    4. Improved search:AI-powered search engines can help you find the perfect property faster by understanding your preferences and matching them with available listings.

  • Big Data

    • With the world becoming digitized, the amount of data created daily is growing exponentially. The term ‘big data’ describes this flood of information in many contexts.

    The phrase ‘big data’ is often used to describe datasets that are too massive and complicated to be processed using conventional methods.

    There are several difficulties associated with big data, such as scalability, accessibility, and organization. Businesses and other organizations that can use these possibilities will benefit greatly.

    Regarding big data, some PropTech companies are at the forefront of innovation. One of the fascinating sectors of the modern economy is prop-tech because of the mix of big data and cutting-edge technology.

  • Blockchain

    • Blockchain is a distributed database that allows for secure, transparent, and tamper-proof record keeping. Real estate PropTech companies are using blockchain to streamline the real estate transaction process and create a more efficient and safe way to buy, sell, and manage the property.

    Blockchain provides a shared, immutable ledger for all transactions within a network. It enables each party involved in a transaction to have visibility into the entire history of that transaction, ensuring transparency and trust. Blockchain also allows smart contracts to automate specific actions based on predetermined conditions.

    Also Read :

    How PropTech is Influencing Indian Luxury Real Estate

  • AR & VR

    • Augmented reality (AR) and virtual reality (VR) are two of the most talked-about technologies in the PropTech world. AR is a technology that overlays digital information in the real world, while VR creates an immersive experience.

    The following augmented reality and virtual reality (AR and VR) PropTech solution is one example of how AR and VR are being employed in the real estate industry:

    • Estate agents use AR apps to superimpose images of properties onto a buyer’s current surroundings, giving them an idea of what it would be like to live there.
    • Developers are creating VR experiences that take potential buyers on a tour of their developments, including show apartments and communal areas.
    • Homebuilders use VR headsets to give buyers a walkthrough of their new home before it has been built.
    • The potential applications of this integrated PropTech, like AR and VR, in the property industry are vast, and it’s only a matter of time before these technologies become commonplace.

  • IoT

    • The Internet of Things (IoT) is a network of gadgets, cars, buildings, and other things containing electronics, software, sensors, and network connection that gather and share data.

    IoT can make buildings more intelligent and connected, transforming the property business.

    For instance,

    • IoT sensors can monitor a building’s functioning in real-time, detect concerns early, and forecast maintenance requirements.
    • It can boost energy efficiency, occupant comfort, and safety.
    • In addition, IoT data may reveal how people utilize space and how to maximize it.

    PropTech companies are using IoT to create intelligent buildings and homes that can be controlled and monitored remotely. By collecting data on how people use energy, water, and other resources, PropTech companies can help make our buildings more sustainable and efficient.

PropTech’s Advantages

There are many advantages to using Property Technology in your search for a new home or investment property:

  • Centralized Storage

    In a tech-driven industry, data management and storage are crucial. Each property owner stored their documents and data in the past. This resulted in redundant data and wasted space. It requires centralized storage.

    A centralized storage system stores your data in one place. It’s simple to access, manage, and monitor data changes.

    A centralized storage system has various advantages:

    • First, it organizes your info.
    • Second, you can quickly monitor changes and updates.
    • Third, it backs up in crises.
    • Fourth, it could save money by eliminating the need for several storage devices.

  • Better Construction, Marketing & Sales

    Real estate technology is making managing projects, interacting with customers and partners more straightforward, and remaining on time in the construction business.

    Construction, real estate marketing agency, and real estate sales benefit from PropTech. Schedules, material ordering, and subcontractor collaboration can be managed using PropTech in construction.

    Virtual reality tours, 3D drawings, and interactive floor plans can be created using PropTech in marketing. Salespeople can utilize PropTech to develop leads, monitor prospects, and finalize agreements.

  • Improved Productivity & Communication

    Using PropTech, all parties to a real estate transaction may complete their tasks more quickly and communicate more effectively. PropTech can make it easier for a business to keep track of its properties and assets. Companies can better understand where their assets are and how they are being used with PropTech. It has the potential to enhance corporate operations and resource management.

    By providing a centralized hub for information sharing, PropTech may aid in expediting the process and reducing the need for in-person meetings. It has the potential to reduce expenses and shorten completion times.

    Furthermore, PropTech may aid in conflict resolution by facilitating better communication between all parties.

  • Analytics for Informed Decisions

    Property managers with access to data and analytics can better make informed judgments. The use of modern technology has allowed property managers to gather and analyze data faster and more accurately, allowing them to make more educated choices for their properties.

    Some benefits of employing PropTech for analytics include the following:

    1. Increased accuracy -  The use of modern data collection technology ensures that building managers have access to reliable statistics. This is crucial when deciding how to proceed with maintenance or remodeling.

    2. Faster decision-making Data and analytics facilitate rapid decision-making for property managers. It’s helpful in cases when there’s a pressing deadline.

    3. Better insights – Property managers may learn things about their buildings that they wouldn’t know otherwise using data and analytics. As a result, they will be able to see patterns and trends that will aid them in making future choices about their assets.

Conclusion:

New and creative property technology, often known as PropTech, is gradually replacing the traditional, labor-intensive methods that preceded it. PropTech is leading a change in the real estate industry.

How real estate is traded, rented, and leased are all being revolutionized by PropTech. Both the buying and selling processes are simplified and streamlined as a result. By putting cutting-edge tools into the hands of real estate professionals, PropTech is revolutionizing the sector.

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PropTech

Top 5 PropTech Trends to Watch Out For 2024

proptech trends

PropTech stands for Property Technology, which refers to digital solutions used in real estate marketing, sales, and property management and development. The field offers plenty of opportunities but is also quite competitive, so you must keep your finger on the pulse of what’s going on if you want to succeed in the industry.

The real estate industry is already embracing new technologies like drones and virtual reality in the Proptech market. To attract buyers, developers are incorporating residential technology into their buildings, allowing residents access to things like smartphone payments, connected appliances, intelligent security systems, and even automated parking. These high-tech buildings will help keep residents happy and improve real estate sales and attract buyers who want the newest tech at their fingertips.

Virtual tours and digital marketing are changing how people search for properties, while construction has been entirely revolutionized by 3D printing. The future of PropTech solutions looks bright, with AI and Blockchain technologies expected to come into play over the next few years. These emerging trends will significantly impact how we buy and sell property, so brokers must understand their potential impact on the industry of the integrated PropTech ecosystem. In this article, we will present our top 5 PropTech trends to watch out for in 2024.

  • Software-As-A-Service (SaaS) for Searching, Renting, Buying, & Selling Properties

    Software-As-A-Service

    The rise of software-as-a-service (SaaS) technology has given this industry some new hope. With SaaS, consumers can search for properties from their computer or smartphone, filter based on their criteria, and connect with agents for assistance without ever leaving their homes. Consumers can also get notifications when properties that match their criteria come onto the market and make offers instantly. In addition to finding homes faster, these tools can help consumers save time and money as they shop around.

    Many companies have jumped on board the digital wave to stay competitive. These innovative technologies allow agents to track online activity, reach out to potential customers through social media, and generate reports at the end of each day.

  • IoT and Smart Buildings for Convenience

    IoT

    IoT and Smart Buildings are two of the biggest technology trends affecting your life. Both have enormous implications for businesses, as well as consumers. The idea of devices being connected and able to exchange data is known as the Internet of Things (IoT).

    It means that devices such as thermostats, light bulbs, washing machines, home security systems, and even cars can be monitored remotely or have their settings changed from afar. As more people become comfortable with this idea, they may use it for convenience. Imagine never having to worry about whether you’ve left the lights on because your building has an intelligent system that turns them off automatically when no one’s there!

  • Virtual & Augmented Reality for Construction & Site Visits

    Virtual & Augmented Reality

    Virtual and Augmented Reality (VR & AR) are set to be game changers for the construction industry, especially when it comes to site visits. With Virtual reality in real estate, you can provide your client with a realistic view of the project without having them leave their seat. This is particularly helpful for projects with multiple stakeholders or located over long distances. VR allows you to share designs more quickly and accurately than ever before.

    One thing we’re looking forward to seeing happen is Augmented Reality (AR). AR uses live footage from cameras onsite and uses computer-generated images to insert additional data into the environment, such as 3D models, measurements, spatial relationships, etc. The possibilities for this technology seem endless – think about how much time could be saved by integrating AR into an early-stage design process!

  • AI and Predictive Intelligence Platforms for Analytics and Reporting

    AI and Predictive Intelligence

    We are producing and consuming more information than ever as a global society. Predictive intelligence platforms for analytics and reporting will be critical tools for decision-makers who need insights from structured and unstructured data. These platforms will provide fast and accurate reporting, with predictive analytics to anticipate future trends.

    As the number of investors in real estate grows,AI in real estate and these advanced analytical systems will become increasingly important. Developers and marketers can also use this technology to manage operations across all business areas. They will receive recommendations on optimizing their strategy, reducing risks, and improving performance.

  • Blockchain Tech for Transparency & Clean Transactions

    Blockchain

    Blockchain is a type of distributed ledger that can be used to record transactions and track assets. With blockchain, every transaction is recorded across an entire network of computers (called nodes) and then time-stamped. It ensures that the data on the chain remains unaltered and cannot be changed.

    It proves to be a great tool in the real estate world, where there is so much distrust amongst parties dealing with such large sums of money. The transparent nature of this technology gives peace of mind to both buyers and sellers, as they can see when the asset was last updated, how many times it has been updated, what changes were made (if any), and by whom.

Conclusion:

As the world becomes more technologically driven, we will see real estate change rapidly. Too stay ahead of this curve, real estate professionals and other stakeholders in the industry need to stay informed on what trends are shaping the future of our sector.

These Proptech trends in 2024 will shape people’s search for housing, live in their homes, work within office buildings, and invest their money throughout the next decade. With emerging trends such as AI, Virtual reality, Augmented reality, SaaS, Blockchain, IoT, etc., there is no doubt that the future of real estate is becoming clearer by the day.

It is essential to keep up with these trends so you can be prepared when they become mainstream over the coming years.

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Real Estate Sales

The Evolution of Sales & Marketing in Real Estate

Real estate sales evolution

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

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 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

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?

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?

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 Beyondwalls 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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Real Estate Sales

Proven Framework for High Velocity Launches

High Velocity Launches

Real estate is a highly dynamic industry. It is dictated by the ever-evolving demands and preferences of the consumers, and these must be met in order for the industry to scale and grow. In the current climate, the competition in the sector has enhanced multifold. There are numerous projects that are being launched in the market, and it is now more important than ever to strategize a launch that sets you apart from the competition.

Despite the constant changes in real estate market trends, there are certain tried and tested learnings that can be leveraged to create successful launches. Hereinafter elaborated is a proven framework that can help you achieve high velocity launches:

STEP 1: Understanding the Market & Your Buyer

Sell Aspirations/Lifestyle

The biggest parameter for the success of a launch is the degree to which it aligns with the market and homebuyer demand. An accurate product-market fit must be created, and for this, it is crucial to understand the dynamics of demand and supply. A few ways in which this can be done are:

  • Conduct a Demand & Supply analysis using data collated from sources such as RERA & IGR to analyze various aspects (such as carpet area, configuration, price range etc.) of the inventory that is in demand, and that which is available
  • Conduct a thorough Competitor Analysis to identify your strengths, development areas, opportunities and threats. This analysis should be done primarily on the basis of 4 key factors:
    • Brand
    • Location
    • Pricing 
    • Lifestyle.
  • On the basis of these four factors, you should try to create a value proposition for homebuyers, by making your project or pricing stand out from among the competition. This will also help in defining the marketing narrative.
  • Gain insights into infrastructural development in various micro-markets, and registration information from portals like PMC, BMC and BBMP

This analysis will allow you to draft the right narrative for communicating to your target audience, and creating high aspirational value for the launch in their mind.

STEP 2: Positioning Your Project Correctly

Sell Aspirations/Lifestyle

The results from the various analyses regarding the real estate market and buyer trends will help you to identify the ideal positioning that the project must have, as well as the go-to-market strategy that must be adopted for it. Along with it, you can also understand where the target group for your launch is the most active, and accordingly craft your ATL and BTL activities. There are also key elements regarding the project that can be analyzed, such as:

  • Its positioning, and the Go-To-Market strategy for it
  • The price bucket of the product
  • The attractive offers or schemes that you can offer to homebuyers

From the marketing perspective, it is helpful to set targets against the various channels based on historic metrics and experience-based assumptions. The performance of each channel should then ideally be tracked, to give a representation of what is working better for your project.

STEP 3: Setting up Growth Marketing Framework & Analytics

This is one of the most important steps for ensuring the success of launch campaigns. At each stage during the launch process, there should be complete clarity on certain metrics such as:

  • Targets
  • Experiments
  • Assumptions
  • Expected outcomes

Growth Marketing experiments will help you prepare the best strategy to market your product in a way that can generate the maximum leads and boost your sales. Certain aspects such as the target groups, channels of marketing and communication can be made the foundation for the experiments. Once each of these aspects has been tracked, it can give useful insights into the best-performing marketing aspects, which can then be scaled.

It is also necessary to track the metrics of targets vs achieved results using real-time data.

Furthermore, targets should be set up at each level of the funnel metrics:

  • Top of the funnel metrics like – reach, CTRs, Time on Site, leads, qualifications, cost per qualified lead
  • Middle of the funnel metrics like – Lead engagement, pre-sales TAT, lead scoring, lead nurturing, Site visit ratio, Cost per site visit
  • Bottom of the funnel metrics like – Lead to booking ratio, Site visit to booking ratio, Cost per booking

STEP 4: Planning Your Channel Partner Aggregation

Sell Aspirations/Lifestyle

Channel Partners are a vital source of sales. A good real estate channel partner network can help you cast your sales net wider, and achieve the high velocity that your project launch needs. Similar to homebuyers, it is equally essential to keep channel partners engaged through the duration of a project launch, in order to harness their potential in boosting your sales.

Due to their increasing importance, there are now tech-based aggregation platforms which can efficiently connect you to a network of channel partners. Through these platforms, your marketing efforts can be scaled greatly with minimal costs, and they can also help in tracking and analyzing the performance of various channel partners.

STEP 5: Defining Your Customer Experience (CX)

Sell Aspirations/Lifestyle

The experience that your brand creates for your customers is just as important as the product you are selling. During interactions with customers, the product pitch is of vital importance. The experience that your customers should be well defined at every step during their journey:

  • Pre-Sales is the first touchpoint that the customer has with your brand, and it dictates the perception that the consumer will make of the brand. It is essential to have pre-sales personnel who have good etiquette and are knowledgeable about the brand.
  • Attention should be focused upon the on-arrival experience that the customer has. The on-site experience is also an extremely important aspect of the overall interaction that the consumer has with your brand. It should be curated in a way that showcases the best aspects of the property and your business.
  • The sales pitch should be properly planned and executed. It should be done in a professional manner, with attention to detail of the consumer’s requirements
  • It is also crucial to ensure that the customer has a good experience with the sales team during, and after the sale

Besides implementing these measures for a good customer experience, it is equally important to be able to track the interactions at various stages and identify the areas that can be improved upon.

STEP 6: Setting up Full-Funnel Analytics

Sell Aspirations/Lifestyle

Data and metrics are the best sources of information to strategize a successful plan. It is essential for you to understand how the entire campaign is shaping up, where the gaps are, and which aspects need to be improved. This is only possible if you have set up processes and metrics for the entire homebuying journey, i.e., the full funnel:

  1. Leads
  2. Cost per lead
  3. Qualification
  4. Cost per qualified lead
  5. Site visits
  6. Cost per site visit
  7. Ratio of lead to site visit
  8. Bookings
  9. Cost per booking
  10. Revenue
  11. Marketing cost
  12. Sales cost
  13. Inventory management
  14. Payment and booking management

Funnel analytics should represent every stage of the real estate sales and marketing process, starting with leads and ending with payment and booking management. These insights will provide a clear representation of your business and its performance, and help you create a successful, high-velocity launch.

By adopting and implementing the above-enumerated steps in your launch framework, you can achieve a successful project launch. BeyondWalls – India’s only Integrated Proptech Ecosystem provides complete, end-to-end services for all real estate requirements. As a real estate marketing agency, BeyondWalls can optimize your real estate business, and help you achieve high-velocity launches.

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Real Estate Marketing

Real Estate Video Marketing: A Complete Guide for 2024

Buying a real estate property is a complex, time-consuming process and involves a lot of research. There are many sources to undergo the same research. Erstwhile, marketing for real estate was done with business cards, flyers, and window signs. It is not just enough now. You need to have a presence in the digital world with the right kind of information that your target audience requires.

Video marketing has gained recent popularity, and brands are considering it as this strategy has proven to be highly successful.

Real estate video marketing has a way of gripping its audience. Almost 94% of marketers have admitted how video marketing helped them improve their brand visibility. This is because of the inherent nature of human beings. We are very inclined to visual storytelling, and the ways the characters emote to it are relatable to us. This is why it is easier for the audience at large to consume videos. This makes it a glowing opportunity for marketers to enter in and use video marketing to improve their conversation rates and get direct real estate sales.

In this piece of content, we talk about all the prospects that you can dive into for crafting a niche for yourself in the digital space in an authentic way.


Types of Marketing Videos for Real Estate

The first thing you need to keep in mind while doing property video marketing is the USP of your project. You can use various options for reaching different sects of your audience, but primarily remember what makes it a sale for them:

1. Influencer Walkthroughs: People are more likely to follow the opinion of someone that they look up to. An influencer with a hold over your target base shall be tagged into walking through the property you want to sell. Have them showcase USP features in property video marketing.

2. Sample Flat Walkthroughs: When your sample flat is ready, have a video walkthrough with your audience and post it on your social. Inform them about the benefits the property offers in your video. 

3. 3D Walkthroughs: These walkthroughs are a tad bit more modern. They give a virtual tour of the place to your audience in 3D and can cover any structure provided with an internet facility. This will help your audience decide first base if they want to move forward with the property or not.

4. Video Mapping: You can undergo projection mapping and make the everyday objects into interesting plots. This is a dramatic technique of making a customized display for your property

5. Testimonials Videos: You can record the reviews that you have received from your previous clients and assemble them into a video form on your social platform. This will create a trust factor for your audience and will effectively convert potential buyers into buyers.

  • Analyze Your Audience

    • Sell Aspirations/Lifestyle

    The fortemost thing you need to do is to identify your target audience. Gauge the market and gauge the buyer’s persona that you can fill in. check in their real estate needs and then craft a property marketing video for the same audience.

    You can find your audience by researching deeper into your existing pool of customers. You can study their background and behavioral traits to find out everything you need to know about your buyer’s persona.

  • Prepare Your Script

    • For accurate real estate video marketing, you must prepare your script beforehand. Make sure that it does not come across as too ‘salesy’. Use the right bits of information and put a call-to-action content bit when necessary.

    You can add your personal experience to becoming a realtor if you are a realtor. You can also involve some of the work you have done in the past and show your happy clients. This will build a trust factor with your potential customers. Consider including all these things in your script, and make sure to hone it well before going on record.

  • Record High-Quality Content

    • Sell Aspirations/Lifestyle

    If you want to succeed with real estate video marketing, it’s important to record high-quality content. This means using a good camera and microphone and recording in a well-lit environment. It’s also important to edit your videos well so that they’re concise and easy to watch.

    People want to watch videos that are informative and entertaining. Your videos should be both of these things. They should offer viewers valuable information about the real estate market, and they should be filmed in an engaging way. It’s also important to upload your videos to a popular video-sharing platform, such as YouTube or Vimeo. This will help ensure that your videos get seen by a wide audience.

    By following these tips, you can produce high-quality real estate video content that will engage and inform viewers.

  • Showcase Your USPs

    • Over time by staying in business, you will figure out the main selling points you can leverage. Video marketing for real estate agents should have the USPs they are good with. List everything you are good at and craft it creatively in short videos.

  • Sell Aspirations/Lifestyle

    • Sell Aspirations/Lifestyle

    Do not sell a home; sell a lifestyle. Create aspirational videos. Add emotions to it. If you are planning to invest in digital marketing for real estate in India, you must add a heavy dose of emotional content to your video. It also remains true, as people pay more attention to emotions than information.

  • Record Concise Videos

    • In the end, remember to keep the videos as short as possible. The only reason videos work is because they are an exciting alternative to lengthy texts. So, try to keep your videos as short as possible.

Conclusion

You can follow a list of the above-mentioned tips and hacks to dive into real estate video marketing. Be sure to put in enough research that is well backed by your client’s history. Use the correct mediums for communicating these videos. Choose the right kind of content strategy and make the right choice for the social media platforms that you choose to share your content with the world.

Categories
Real Estate Marketing

Create A Successful Digital Marketing Plan for Real Estate Business

Real Estate Digital Marketing Plan

As an experienced realtor, you must have known the shift in property search in the last 10 years. The changes have advanced more towards the technological side of things, empowering your customers to look for online information while they look to buy a house. This digital penetration has changed the entire dynamic of real estate in the last couple of years.

Because of the advent of the digital market, your customers would come to you with well-backed research on the home they are looking into. Almost 83% of home buyers see a property online for the first time they purchase. And almost 33% of first-time home buyers look for properties online when they start researching.

If you are new to this and fear that the hefty changes in the real estate market will curb your prospects, do not worry. We have compiled a list of things you can do to create more opportunities for your business with a successful digital marketing plan. Let’s dive in deep to know about them.

Steps to Follow to Create a Solid Digital Marketing Plan For Real Estate Business:

1 .  Create Your Business Website

What is Social Media Marketing?

In any business, a website is necessary, but for a real estate business, a website is a must.  As you are selling a product that is heavily influenced by its look and feel, you must have a website that is enticing enough and is filled with multimedia to showcase the best part of the project. You can leave them with essential information so they would want to come more.

Also, with all the necessary details, you can list people you have worked with and met their real estate needs. It would humanize your website and build your audience’s trust in you. Almost  57% of internet users have admitted that they don’t recommend brands with poorly designed websites.

You can hire a  real estate marketing agency if you are unaware of the technical side of things.

2 .  SEO Strategy

SEO stands for Search Engine Optimization. The better your website is for the audience, the higher it goes in the Google Page Ranking. Almost 70% of marketers in today’s world prefer SEO over other PPC for multiple reasons. For a real estate property marketing plan, you should ensure that your website has as much helpful content for your audience. SEO helps in the growth of your real estate business by:

  • Optimizing your visibility online 
  • Increasing your reach to your potential customers
  • Creating a trust factor with your audience
  • Valuable content on blog posts, boosts page ranking.

3 .  Pay-Per-Click Advertising

What is Social Media Marketing?

PPC advertising would work well for your real estate business if you want to generate leads. You should add this to your real estate digital marketing plan. By using PPC advertising you target people with similar searched keywords as your business. You pay for the ad when an interested buyer has clicked on your ad.

This is a genuine source for lead generation. As a real estate business, you can put your business ads and people searching for keywords similar to your brand and business will land on your page if your ad fits their needs. 

4 .  Email Marketing

Email marketing and campaigns are still relevant marketing plans for real estate businesses. It is a great way to generate leads and stay in touch with your existing clients. Also, you get your buyer’s persona with a well-rounded campaign. You can find clients through this and personalize your relationship with your customer base.

5 .  Content Strategy

What is Social Media Marketing?

Content strategy is where you use videos, blog posts, or images to create content with value for your audience. This is imperative to your real estate marketing plan as it regulates your viewership and engagement. Websites that respond quicker have 434% higher pages indexed by Google crawlers. Your website will be a top choice if your blog posts are useful and respond quickly to their users. 

Content strategy is how you share real estate news, tips, updates, or fun facts with your buyer or potential buyers. It is said that videos have 3 times higher engagement and viewership than regular content, so you should look to add it to your digital marketing strategy.

6.  Social Media Strategy

What is Social Media Marketing?

A realtor marketing plan is nothing without a social media strategy. You must have a presence on the social media handles where your target base is. You need to make them aware of your work and be present in their social media feeds. 

A study suggests that adding a social media plan to your digital strategy will increase your revenue by more than 20%. You can choose social media channels based on your audience’s presence on that media channel. 

7 .  Host Webinars

People look for an expert’s advice in a matter and if you could be someone or have someone with fundamental knowledge of real estate for your audience, then your webinar would be a definite success. A thoughtful speaker will enhance your real estate property marketing plan by folds. 

Conclusion

A digital strategy is a mixture of all these aspects. While forming one for you, get in touch with a real estate marketing agency to get the best for your firm. People are shifting away from offline modes to online platforms to gain the best for them. If you are a realtor or an individual looking to buy a home, you must add a digital marketing plan to your list of things to go through.

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Uncategorized

Real Estate in Pune – An Ever Evolving Market (Q2 CY 22)

Pune Real Estate Trends

Pune’s realty market is on an optimum path of recovery after the hit of the pandemic, and the recent global economic disruption. 2022 is being hailed as a lucrative year for the city, and the overall residential sales are expected to surpass those of the last 5 years. This boost in sales velocity can materialize only if property prices are aligned with the demands and buying capacity of consumers.

The sales trends maintained a consistent pace across Q1 and Q2 of CY 2022:

  • 23, 857 unit sales in Q1
  • 22, 741 unit sales in Q2

The sales for this year are expected to exceed an all-time high of 1 lac+ units.

Residential real estate witnessed a boost in Q1 and Q2 combined of 2022, in terms of both inventory and sales. Developers made more inventory available in the market, which increased by 106% from Q1 and Q2 combined of 2021. The residential sales too increased by 20-25% Y-o-Y, with an expected split between resale and new properties.

Residential Sales Trends of Q2 CY 2022

The sales metrics collated from Q2 of CY 2022 convey a trend of purchasing sentiments which are favorable towards specific localities, configurations and prices.

1 . Zone-Wise Trends

What is Social Media Marketing?

The Top Selling Zone:

West Pune emerged as the highest-selling geographical zone in Q2 2022. The preferences leaned heavily towards 2BHKs for mid-segment pricing, particularly within the price range of Rs. 60-65 lacs.

What is Social Media Marketing?

Within the entire west zone, there are differences in the preferred price segments and carpet area for properties within different micro-markets.

What is Social Media Marketing?

The top-selling micro-markets for West Pune were:

  • Wakad
  • Punawale
  • Tathawade

West Pune attracts a lot of young homebuyers who are keen on starting a family and desire an upgrade from 1BHK units to spacious 2BHK units in micro markets like Wakad, Tathawade, Punawale. The zone is also attracting families who want to upgrade from a 2 BHK to a 3 BHK in micro-markets like Balewadi and Baner. Due to its proximity to Mumbai-Pune expressway, the zone is highly preferred by investors, home buyers from Mumbai and migrants from other cities. It has the perfect opportunity for such homebuyers to thrive in, as it offers good employment, connectivity, safety and lifestyle amenities. This strong base of infrastructure in the west makes it highly appealing for residential settlements.

The Next-Best Selling Zone:

East Pune was the next best-selling zone, wherein 2BHK and 1BHK units witnessed the most real estate sales. The most-preferred pricing in this zone was in the affordable segment.

What is Social Media Marketing?

East Pune had demand for affordable as well as premium properties, differentiated by the particular micro-markets.

What is Social Media Marketing?

The top-selling micro-markets of the East were:

  • Wagholi
  • Charholi
  • Manjari

East Pune offers homebuyers a comfortable lifestyle with rich infrastructure, amenities and a safe neighborhood. Most of the homebuyers in this zone upgrade from suburban areas, seeking a better lifestyle. For them, 1 & 2BHK’s are the perfect type of property to invest in. The appeal of East Pune lies in the fact that it was the origin of Pune’s industrial and IT evolution, and also houses the offices of leading MNC’s like Barclays, HCL etc.

2. Primary and Secondary Sales Trends

Secondary sales account for 10-12% of the total sales in the city.

This trend is influenced by homebuyers who are looking to move in immediately, and who opt for resale properties over new launches. Furthermore, investors who were waiting for the market to open to cash out their real estate investment have also finally succeeded, which has also caused an increase in secondary sales.

Post the economic headwinds in the country, increase in repo rates and home loan interest, people are trying to reduce the risks associated with their home buying and are moving towards safer options.

Homebuyer Insights

Homebuyers today are well-informed and have very clear preferences. The current homebuyer sentiment is leaning heavily towards properties for self-use, which is largely due to the uncertainty caused by the pandemic.

The demand and sales data complement each other, displaying a rise in both these parameters for homebuyers:

  • The demand in Q2 CY 22 increased by 8.1% QoQ compared to the increase of 3.1% QoQ of Q1
  • This rise in demand for residential real estate can be attributed to the stabilizing economy, hybrid working model and buying capacity of homebuyers
  • The unsold inventory declined 13% Y-o-Y

Post-Pandemic Homebuyer Trends

The pandemic played a significant role in the evolution of homebuyer sentiments, and the following crucial trends have been witnessed in this year as compared to the pre-pandemic year of 2019:

  • Factors such as early possession, larger carpet areas, and the preference for amenities have increased
  • 43% of people have shown an inclination to move to the suburbs
  • A preference for 3BHK’s witnessed among 18% of homebuyers

The maximum sales are driven by people between the ages of 25-65, and from industries like IT and manufacturing. The comfort of using technology among today’s homebuyers has enhanced the internet searches for homes, which are currently 1.7 Lac+.

1 . Locality Preferences

Preference for specific localities generally stems from the following factors:

  • Proximity to workspaces
  • Connectivity with social infrastructure
  • Safety

As per statistics, homebuyers in Pune prefer to have amenities like schools, hospitals and shopping complexes not more than 10 min from their homes. After the penetration of hybrid working module, people are willing to live at a distance from their workspace as long as their travel time is not higher.

With regards to the safety that they offer, localities like Wakad, Baner & Balewadi from the West and Kharadi, Hadapsar & Mundhwa from East are preferred. These localities also offer the convenience of being well-connected to workspaces, schools and shopping complexes.

2 . Configuration Preferences What is Social Media Marketing?

Each configuration has seen higher demand in specific micro-markets:

  • 1BHK is preferred in localities like Manjari and Kiwale
  • 2BHK has greater demand in prime markets like Wakad and Wagholi
  • 3BHK was concentrated in areas of Baner and Balewadi

A trend that has come forth upon a Q-o-Q comparison is there is greater demand for spacious homes in the mid and premium segment.

Infrastructural Development

Pune as a whole is experiencing booming infrastructural growth, but the Western and Eastern zones have raced ahead in terms of development.

Relevant Resource: Indian Real Estate Market: Tracing the Changes Since Pandemic

West Pune

It is a bridge connecting Pune with Mumbai. It is infrastructurally rich, with a range of employment opportunities and lifestyle amenities. It has become a symbol of a cosmopolitan lifestyle, housing several trending social and cultural hotspots. A major advantage is also the employment opportunities offered here, due to proximity to businesses parks and IT hubs such as Pune IT Park.
  • Balewadi, Hinjewadi, Baner have a wide variety of restaurants like Balewadi High Street.
  • Popular retail and shopping complexes such as the Westend Mall and Xion Mall, and large-scale infrastructure like Phoenix Marketcity is under development.
  • Seamless road network, availability of public transport and connectivity with rail and air transport.
  • Leading hospitals like Jupiter and Manipal, and educational institutes like Orchid School and Symbiosis University are located in the West.

The existing and developing infrastructure base of West Pune has made it a thriving locality, and appealing for real estate investors.

East Pune

It is a major residential hotspot, due to its infrastructural offerings:

  • Koregaon Park and Kalyani Nagar are among the most popular areas for restaurants and pubs in Pune, catering to a wide range of the public.
  • Attractive retail and shopping complexes, such as Amanora Park Town add to the aspirational value of this zone.
  • A good network of highway and road connectivity, and close proximity to Pune airport
  • Booming IT and Industrial employment hub, due to developments like Weikefield IT Park, Magarpatta Cyber City etc.
  • A rich infrastructure of schools like ST. Bishop’s and St. Joseph’s, hospitals such as the Command Hospital and Jahangir, as well as gardens and gymnasiums.

All these elements have been responsible for East Pune becoming a flourishing hub for real estate.

Sustainability in Real Estate

The real estate industry has made a conscious switch towards adopting environmentally friendly construction materials, mechanisms and energy solutions. India has seen an increase of 31% across Pune and 5 other cities this year in the number of green real estate assets.

Sustainability has become the need of the hour, fueled by the increasing consumer sentiment that is demanding it. To align with these demands, properties that are resource-conservative are being developed, with elements like:

  • EV charging stations
  • Smart facades, which are designed to lower energy consumption
  • Use of environmentally safe materials

A parameter to measure the sustainability of constructions is the ESG (Environment, Social, Governance) compliance. As of now, Pune has a share of 15% in the overall sum of ESG certified constructions in the country. While this is a gradual growth, the widespread consumer demand for green buildings is a driving factor for more and more constructions to align with the idea of sustainability.

Sustainability & UDCPR

Owing to the increase in awareness regarding it, sustainability has also been incorporated in the Unified Development Control and Promotion Regulations (UDCPR) 2020, wherein systems for constructions have been enumerated:

  • Solar assisted water heating
  • Rain water harvesting
  • Waste-water and solid waste management
 

What Does 2023 Hold for Pune Real Estate?

2022 brought Pune’s real estate market on a path of holistic growth. This upward trajectory is expected to continue, and scale greater heights in the upcoming year. The predictions of 2023 for Pune, among other cities of India, are extremely positive for the sector of residential real estate.

In the span of 2023-2024, the following milestones are expected to be achieved by Pune realty:

  • A contribution of 15% to the total sales
  • A contribution of 18% to the new launches
  • An increase of 6% in property prices, backed by the high demand

Consumer sentiment inclined towards nearing possession and ready inventory. Consumers have become more conscious of their buying pattern which makes it crucial to understand the sentiment, preference and behavior to create and market trends before any launch.

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Real Estate Marketing

Real Estate Social Media Marketing: 7 Strategies for Real Estate Businesses

Real Estate Social Media Marketing Strategies

Social Media is a concept that we are all extremely familiar and comfortable with. It is a collection of interactive technology platforms that allows us to share thoughts and ideas through mediums like written words or photos, and build a social community. It has evolved over time to become more than just a means of entertainment, and has a variety of other uses too.

One of the most significant uses of social media that is being newly explored is the potential that it holds as a source of marketing. Social media is an effective medium to capture the sentiments of its countless users, and brands can use these sentiments to convey their stories and make themselves memorable for consumers. The global network of social media presently comprises 4.55 billion users, and this network can be channeled towards social media marketing.

What is Social Media Marketing?

In simple terms, it is the process of using various social media platforms to advertise, market and promote goods and services. Social media provides a large platform of potential consumers for businesses, and hence it is an invaluable source for marketing.

Social media marketing can be extremely beneficial for almost every commercial activity, and real estate is no exception. Real estate social media marketing is a crucial tool for real estate agents and developers alike to showcase their various projects and services, and generate maximum leads from the large user base of such platforms. This is supported by data which has shown that 47% of real estate businesses reported generating highest quality leads through social media.

What is Social Media Marketing?

Like any other marketing strategy, real estate stakeholders who wish to explore this source of marketing must develop a cohesive plan and align their activities according to it. Here are some of the best strategies of social media marketing for realtors:

  1. The Power of Multiple Touchpoints:

    2. The phrase ‘one size doesn’t fit all’ is applicable to social media marketing, and hence choosing the right platform is essential for the success of any strategy. The term ‘social media’ includes several platforms, such as LinkedIn, Facebook, Instagram etc. Hence with social media marketing, there are various touch-points which ensure that the consumers are engaged effectively. Though all these platforms are classified as social media platforms, but they are each very distinct marketing mediums in terms of:

    • The type of users active on the platforms
    • The type of content (textual, visual etc.) which is suitable for the platform

    These factors must be considered while implementing a strategy because only then will it be able to reach the target audience and engage the users.

  2. The Power of Paid Ads

    3. Social media platforms like Facebook and Instagram have a feature for running paid ads, which can boost the reach of the brand by allowing a much larger audience to view the content uploaded by the business, as compared to the organic response that it would have had. Paid ads expand the reach of social media marketing for real estate agents, and also make marketing more interactive since users can comment, share and like the content of the ads.

  3. The Power of ‘Word-of-Mouth’

    4. As the name suggests, social media marketing is reliant upon the thoughts, opinions and feelings of the users. A personalized approach to marketing will hence be highly beneficial, and this can be achieved by sharing success stories and client testimonials. This will help the business in a variety of ways such as:

    • Instilling confidence in the brand by hearing and reading positive stories of its work
    • Knowing that other prior customers have had a good experience with the brand will encourage more users to avail its services
    • The credibility of the business is enhanced by sharing real stories

  4. The Power of Informative Communication

    5. A successful strategy that can be adopted for real estate social media marketing is to make the content informative and educational for the users. Real estate is a nuanced sector, which has a lot of different aspects associated with it. For a lucrative marketing strategy, content should be created to tackle these aspects. Informative communication will have dual benefits:

    • Users will have a better understanding of the real estate sector
    • The business can create a good reputation for itself as being aware of the functioning of the sector, which will help in acquiring customers
    What is Social Media Marketing?

  5. The Power of Virtual Site Experiences:

    6. Site experience is an important aspect of any real estate sale, because it allows consumers to witness and experience the project. This will help them make informed decisions, and it is an important part of marketing. Live videos are a unique aspect of social media platforms, and it can create an engaging, interactive and enhanced site experience for users.

  6. The Power of Networking:

    7. Social media marketing for real estate agents can be helpful in networking, since connections can be formed and nurtured through interactive actions on posts, and messaging features. Direct Messages (DM’) are another way that realtors and developers can maintain contacts, and they can also encourage social media users to subscribe to emailers through social media.

  7. The Power of Consistency:

    8. One of the easiest and most effective strategies for impactful real estate social media marketing is having a structured and consistent flow of content. This allows the users to stay connected with your brand and its content, which will lead to higher engagement rates.

If the strategies mentioned above are incorporated in a marketing plan, it can lead to successful outcomes for businesses. BeyondWalls – an integrated PropTech ecosystem is an end-to-end real estate marketing company. It also provides pre-sales, sales and post-sales support, and it is the ideal partner for real estate agents and developers for all their requirements.

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Uncategorized

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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Real Estate Sales

Real Estate Cost Escalation Affecting Project Quality

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.

Understand Location and Target the Right Audience

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.

Understand Location and Target the Right Audience

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.