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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

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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.

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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.

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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.

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Real Estate Industry Moving Towards Sustainability

The theme of “Only One Earth” that was adopted for the Environment Day 2022 is more than just a theme- it is an awakening, and a realization that needs to be in all our minds.

As we made long strides of development in all sectors, we lost sight of the fact that we are burdening the earth. Our reckless use of resources damaged the environment, and only now are we realizing the severity and repercussions of it.

Sustainability in Real Estate

The real estate industry in India is a crucial economic driver. It presently contributes 6-7% towards the national GDP, and is the second largest employment generating sector. One of the main reasons that it has attained such importance is the fast-accelerating growth of the industry, which unfortunately led to it contributing to environmental degradation. As per statistics, the industry has a contribution of 36% in total energy usage, and of 39% in process-related CO2 emissions.

The world as a whole has been made aware of the damaging consequences that can come from ignoring the need for environmental preservation, and mindsets are now changing towards attaining sustainability in all spheres. Since real estate is such an important sector in India, it has also become a part of this emerging movement. The pandemic further acted as a wake-up call for everyone, since people began realizing the need for a healthy-living environment. The trends of real estate have now shifted towards implementing ‘green building’, which is based on the conservative use of resources. A lot of top developers around the country are making their projects with more regard to its effects on the environment. The aim of this approach is to ensure that the least amount of negative impact is exercised on the environment due to real estate development.

To enable this idea of green building, there are certain parameters that are being adopted in real estate constructions:

1. Sustainable Construction and Project Designs

Project designing and construction are now being undertaken with an objective to minimize energy and electricity wastage. Smart facades are being designed which can be used to limit the energy consumption of properties, because they sense the external environmental conditions and adapt themselves according to it. There has even been a switch towards greener construction mechanisms, which are more sensitive towards the environment in terms of energy consumption, resource usage and disposal and emissions.

2. Improved Utilization of Available Resources

The real estate industry in India has improved the use of resources, both natural and man-made. With respect to natural resources like water and solar energy, systems are being devised to preserve and harness them better. The man-made resources of building materials are being reused and recycled to avoid their wastage, and materials which do not exert a direct negative impact on the environment are being preferred.

3. Effective Waste Management

Waste management and composting systems have become an increasingly common addition to most developments, since untreated waste is a big challenge to the ongoing green initiative.

4. Promoting EV Infrastructure

Another significant change towards sustainable construction has been made by promoting Electric Vehicle (EV) infrastructure. Vehicular emissions are among the biggest contributors to pollution, and developers are now making EV charging stations in their projects. This easy accessibility to charging stations will work towards increasing the use of such vehicles.

These changes have been instrumental in achieving sustainable real estate development, and are transforming the industry to make it more environmentally conscious.

Technologies and Systems that are Enabling Sustainable Real Estate

In its journey towards achieving sustainability, the industry has been facilitated by certain technologies and systems:

1. Building Information Modelling (BIM)

This is a process based on 3D modelling which is helpful in visualizing and analyzing the design and structure of a building. In terms of sustainable real estate development, BIM has been effectively used for various purposes:

  • Accurate Energy Modelling to reduce requirements, which will in turn lead to reduced costs
  • Daylighting analysis
  • Logistics and site management to reduce the carbon footprint
  • Informed predictions regarding the quantity of raw materials needed, which has reduced wastage.

2. HVAC systems

HVAC stands for Heating, Ventilation, and Air Conditioning. Real estate businesses are now adopting green HVAC systems, which use efficient and environment-friendly technologies to allow for the conservation of natural resources. Due to the energy efficiency attained through green HVAC systems, there has also been a reduction in utility bills.

How Consumer Sentiment has Influenced Sustainable Real Estate

The real estate market in India is shaped by the demands and preferences of consumers. Of late, there has been an increase in awareness regarding environment preservation. As more and more people are being exposed to the rising dangers of unsustainable practices, they have become more conscious in choosing such products and services that are sensitive to the environment. Consumers are now demanding properties that are constructed with a view to be energy and resource efficient, and they are also willing to pay premium amounts for such properties.

With the ever-changing market trends and consumer sentiments, it is essential for developers to remain apprised of the latest insights. BeyondWalls– an integrated PropTech ecosystem can help developers with this, by providing accurate market information, enabling them to plan their projects in accordance with this information, and eventually market and sell it effectively. It provides complete, end-to-end services for all real estate requirements.

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PropTech

How PropTech is Influencing Indian Luxury Real Estate

In the last two years, the world has been struggling to recover from the effects of the covid pandemic. It had brought all economic activities to a standstill, and real estate was among the other commercial industries that were struggling to recover. The sector faced a lot of ups and downs, mainly driven by the lack of stability in the economy. However, the industry has proven itself to be resilient and is slowly getting back to its former pace.

How is the Indian Real Estate Sector Presently?

Presently, one faction of real estate is proving to be thriving in comparison with others, and that faction is luxury real estate. As per reports, luxury property accounted for only 7% of the overall sales in Q1 of 2019, and have now increased to comprise 12% of the overall sales in Q1 2022. This change in consumer sentiment can be primarily linked to the feeling of security that people associate with their homes, and hence they are preferring bigger spaces.

There is growing understanding in the minds of developers regarding consumer demands. Properties are hence being tailor-made to satisfy all these demands. This understanding comes from the analysis and interpretation of scores of data pertaining to market trends and consumer behavior which is being enabled by PropTech.

PropTech- The Merging of Technology with Property

PropTech has greatly influenced the real estate sector, and is one of the biggest contributors to the revival of the luxury market. In simple terms, PropTech means the aspects of digitization and automation that have been merged with the real estate industry. This is helping in the streamlining of the industry, and also increasing its efficiency and transparency.

One of the biggest advantages of adopting PropTech solutions for the industry has been the big data that is easily generated, segregated and stored. The data covers a vast spectrum, ranging from market trends to consumer sentiment. This data is an extremely valuable resource for any real estate business, since it can offer direct insights on what homebuyers are demanding. The insights can be appropriately analyzed by developers, and used to align their projects with the ongoing trends and enhance their sales.

With respect to the luxury real estate sector, PropTech has achieved success due to the data-driven insights and market information that it generates.

Here are some of the key aspects that Proptech has revolutionized, leading to an improvement in the sales of the luxury market:

1. Location Analysis:

Real Estate Sales Trends 2022

Luxury properties cannot thrive in any and all areas. They have to be adequately matched by the surrounding neighborhood and amenities, and it is essential to identify a location where such properties will sell. The location has to be studied in association with the other consumer demands, because they operate hand-in-hand for the success or failure of projects. The Indian real estate industry is comprised of several potential micro-markets where there is demand for luxury projects, and the data gathered by PropTech solutions can help in such locational analysis.

2. Understanding Consumer Sentiment:

Digitization allows for large volumes of data pertaining to consumers to be easily collated. This data can give developers input regarding what type of properties consumers are preferring, the desired configuration, carpet area and amenities in the projects, and much more. This information is the foundation of building a good project, and it must be analyzed well. Due to the influence of PropTech, developers have been able to identify the niched audiences who demand luxury properties, and their project strategies have allowed them to satisfy all the requirements that consumers have.

3. Pricing Decisions:

The emergence of PropTech has led to precious data regarding pricing preferences of consumers to be stored and used for analysis. Pricing a project well is extremely crucial to attain real estate sales growth , and it becomes even more important for luxury projects. There are various aspects involved in pricing decisions, and they have to be made with a balance between offering a good price for consumers and gaining profits on the property. Developers can use the data gathered by Proptech solutions to smartly understand the pricing trends, and can then make informed pricing decisions.

4. Simplifying Purchases:

One of the biggest positive changes in the real estate sector that has emerged with PropTech has been the automation and simplification of the purchasing process. This has not only helped the luxury segment to enhance its sales, but has led to overall real estate sales growth. With the influence of PropTech, the standard sales and marketing have seen a shift towards real estate digital marketing and sales automation.

BeyondWalls- an Integrated PropTech ecosystem

BeyondWalls is an end-to-end partner for all real estate stakeholders. It is a tech-driven platform, and offers services that range from project and pricing strategies, go-to market strategies, as well as full funnel sales analytics. It makes the best use of PropTech solutions to make data-driven strategies that can allow developers to cater to the demands of consumers. Such informed decisions are crucial for the sales success of all real estate segments, and especially the luxury market.

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Real Estate Sales

Understanding the Dynamics of Blockchain Technology in the Real Estate Industry 

The advancements made in the field of science and technology has transformed the working systems of every segment. The industry which used to run on paper and human connections is on the verge of complete digital Transformation. Technology in this regard is changing the real estate industry for the greater good. Under technology, Blockchain possesses the abilty to bring transparency and change the industry like no other technology could. In this blog, we will go through the dynamics of Blockchain that are in the play, and how it has touched almost every sector across the globe, including the real estate sector.

 

Blockchain Technology and Its Relevance to Real Estate

Blockchain technology refers to a peer-to-peer network that handles decentralized ledgers of myriad transactions. It is, to quite an extent, influenced by cryptocurrency, which has taken over the finance segment lately, thereby making it quite likely for liquid money to lose its importance as a medium of exchange over the years to come. 

The  real estate sales, governed by the property value chain, may soon be taken over by blockchain. This projection indicates that soon blockchain may be used to purchase real estate through crypto-currencies and tokenization.

Another crucial role where blockchain comes in real estate technology is tokenization, and with it comes the possibility to trade for properties just like crypto-currencies are traded. 

Even though the complete adoption of blockchain in real estate may take a decade from now, the groundwork has already begun. Once the pieces fall into place, there would be a complete overhaul of the industry which would benefit every individual involved in it, directly or indirectly. 

Unveiling Blockchain Dynamics in the Real Estate Industry

However, to reap full-fledged benefits in real estate, blockchain technology requires understanding its dynamics thoroughly and deeply. Let us understand them in detail and highlight the advantages they would bring to the Indian real estate market. 

1. Boosts Operational Efficiencies

Blockchain in real estate has offered a new means of establishing a connection between buyers and sellers. It has cut intermediaries, which has helped cut down costs for the real estate industry. 

It has further securely facilitated data sharing, streamlining rental collections and payments to property owners, and even eased premium due diligence across the portfolio. With complete transparency, everyone in the chain gets complete information and is fully aware of the developments taking place at any given point of time. This way, it has become easy for investors and realtors to get valuable insights anytime, anywhere. 

Also, safe and faster data transfer has solved the issue of non-transparency and slowed operations. Fractional ownership has attracted investments and even granted access to the secondary markets. 

2. Solving The Challenge of Transactions

Understand Location and Target the Right Audience

Blockchain in real estate has made transactions secure and fraud-free. With real estate blockchain, property transactions do not have to go through third parties as there is nothing underhanded. 

You can now streamline payments and get proof of parties possessing enough funds needed to close the transactions in both rental and purchase scenarios. This way, the challenges of transactions in real estate can be secured and transparent for both buyers and sellers of the same. 

3. Smart Contracts and Agreements

Understand Location and Target the Right Audience

Smart contracts in real estate help in automating the agreement process and eliminating the involvement of intermediaries. It simplifies business operations and has even scaled down the traditional methods of executing a transaction, keeping the authenticity and credibility intact. 

Virtual currencies cooperate on the same technology and further help transform paper-driven and offline commercial real estate transactions like sales, financing, leases, etc., into the digital mode. 

These contracts run on the blockchain as computer code. They are stored on a public database that cannot be altered or changed, thereby maintaining the safety and security of the deals between parties and even increasing their transparency. Also, the chances of fraud are reduced to a bare minimum.

Also, with blockchain technology spreading its wings over the real estate sector, smart contracts or electronic contracts may become popular. These contracts perform defined actions automatically by using computer protocols and monitoring stored clauses. 

4. Tokenization

Understand Location and Target the Right Audience

Real estate does not seem a very reliable liquid asset to most people as it takes a lot of time to conclude a sale transaction. 

But, with tokenization and crypto-currencies in this segment, executing transactions will become easier and quicker. Properties can now be bought and sold like stock on exchanges with cryptocurrencies, lowering crowd-funding barriers. It has made the sector more advanced and innovative with the introduction of tokenization through cryptocurrencies. It has improved the liquidity and security of transactions through smart contracts and agreements, paving the way for excellent prospects in the years to come. 

Now, sellers do not have to wait for a financially stable buyer to come their way. Instead, sellers who understand the value can readily trade in real estate properties, even in fraction ownership. This way, tokens’ liquidity may increase, and real estate may soon be turned into a leading revenue-generating sector. 

5. Regulatory Mechanism

Understand Location and Target the Right Audience

Real estate and property management involve complex regulations that must be followed diligently and adhered to on time. Blockchain in real estate helps in regulating and improving private regulatory compliance by streamlining the process of buying and selling properties and even making it more secure. This way, buyers can easily trace the history and ownership of a property. Sellers can get better transparency around the sale process. This is made possible because blockchain lends itself to improving compliance processes by helping compliance officers keep track of all the complex regulations required therein. 

Final Take

Real estate blockchain development trends have increased over the last decade. This technology has brought innovative measures that lay the foundation for a bigger and better good for the real estate industry in the future. 

Hence, in a nutshell, blockchain is here to change the industry for the greater good, and this universal system of buying and selling on a global platform is only going to put the real estate industry in the mainstream on the global economic map. 

BeyondWalls, a tech-driven online platform providing collaboration between Real Estate developers and channel partners in the industry, excels in providing an  integrated proptech ecosystem where property buyers and sellers can have a seamless journey through endless offerings that benefit both parties in a fair deal. With considerable experience in real estate, the company aims to project the real estate ecosystem in India as the market leader on the global network.

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Real Estate Marketing

Facebook Marketing Strategies for Real Estate Businesses

Gone are the days when real estate agents had to network around their locality by distributing flyers and posting real estate information on supermarket bulletin boards. Today, real estate marketing is more than just selling a building or a piece of land. It has become an open world, full of divergent opportunities.

Amongst all, the one thing that has forever changed the way we connect is the onset of social media. Social media platforms like Facebook are no longer helpful for just sharing posts with friends and family but also for digital, paid advertisements. While reaching a broad audience for your real estate business, Facebook never fails to offer great exposure with multiple possibilities for your business.

As a result, Real estate marketing agencies worldwide are now using Facebook to market their properties and are getting impressive results. Therefore, it’s a must to understand and implement Facebook marketing strategies as a real estate agent.

Here is the ultimate Facebook marketing strategy for real estate that will help you stay on top of your marketing game:

1.  Understand Location and Target the Right Audience

Understand Location and Target the Right Audience

One of the many reasons behind Facebook’s popularity is its ability to advertise the right content to the right audience base. Therefore, before you start planning and get down to work, selecting your target audience is the first thing you must do. The whole process of advertising will get easier after this step as you’ll know what the target audience is in search of. 

In practice, there are some factors you have to keep in mind to find your target audience successfully.

  • Start by targeting an audience based on location because this will help you get clients nearby.
  • Apart from that, age targeting and demographic targeting will help you to work wonders.
  • In the ‘Detailed Targeting’ option, you will find quite a few alternatives that will help you show your properties to the best clients. 

Following such a detailed flow will help you reach a targeted, large audience.

2. Utilize Video Content

Utilize Video Content

Video content has brought a revolution to the world of marketing. Almost all industries swear by video marketing, and even real estate companies benefit from it. According to research, real estate companies with captivating video content attract more audiences than those without. 

Pictures can often be deceiving, but videos are unlikely to be the same. Videos help the prospects take a realistic look into real estate. A well-made video will increase reach, build trust, and thus help you gain more clients. Also, don’t forget to use the video specs recommended by Facebook Ad Manager before uploading the videos to get the best outcomes. 

3. Use Captivating Graphics

Real Estate Sales Trends 2022

Good graphics are the key to success on social media platforms. As a  real estate marketing agency, you must ensure that you use your properties’ best images for advertisements. Images play a big part in building the overall impression of your company. 

Once you understand the aesthetics, you will start attracting clients like magnets. With images, you get around two seconds to grab your audience’s attention, so make sure that the graphics you incorporate are unique and captivating. 

4. Share Testimonials with Your Audience

Real Estate Sales Trends 2022

Customer testimonials are the best way to convince more people to become your clients because they are genuine. Make videos of your old customers talking about their experiences with your company and share them with your audiences. You can also incorporate some of the detailed reviews in your advertisement copy for better outcomes.

5. Use Carousel Advertisements

Real Estate Sales Trends 2022

Buying real estate is a big financial decision for clients; therefore, they must be presented with all the necessary details beforehand. Facebook has the perfect ad format for the real estate industry: the Carousel ad format.

Real estate is the kind of industry that has a visual appeal, and that’s what makes carousel advertisement an ideal pick. In this kind of ad, you can display pictures in the catalogue to allow the viewers to scroll through and see multiple listings. You can also add price, location, and other details in the carousel advertisements. 

Proptech ecosystems like BeyondWalls simplify buying real estate for clients using such advertisements.

6. Work on Your CTA

Real Estate Sales Trends 2022

People will be more likely to click on your advertisements if you give them one ultimate reason to pick you. Call-to-action, popularly known as CTA, is a button that prompts your audiences to take action after watching a video or reading an article.

Some of the most used CTAs for real estate are:

  • Search
  • Next
  • Read more
  • How it works
  • Schedule a visit
  • Enquire Now
  • Register Interest
  • Request virtual tours and more

The presence of CTAs will drive traffic to your website and, therefore, will increase real estate sales.

7. Create Informative Website Landing Pages

Real Estate Sales Trends 2022

Once you have created strong CTAs for the videos and images, it’s time to make the destination website strong so that the good impression about your company lasts longer. The landing page is the first thing that appears when a person visits your website. So, you must ensure that their website visit is pleasant. 

Incorporate good images of your real estate on the landing page, along with reviews and testimonials. This will make the visitors find what they are looking for and make their decisions quickly. Incorporating the video ads in the landing page is also a great idea as it makes the visitors stay on your website for longer.

8. Observe Your Competitors

Real Estate Sales Trends 2022

Watch how the other real estate businesses are doing on social media. This doesn’t mean that you have to copy their actions. Instead, take inspiration from your competitors to improve your marketing game on social media. 

You might come up with new and unique ideas by observing your competitors. 

9. Run Different Sets of Ads and Observe Which Works

Real Estate Sales Trends 2022

Not everything works for every company, and the situation is not different for the real estate industry. You can make various kinds of advertisements for your real estate business, but not all of them will result in the same amount of success.

The key is to keep tracking the reach and engagements and see which kinds of ads are being loved by people. Carousel ads, 360 videos, and testimonials generally succeed considerably. But if you see that some types of ads aren’t working well, it’s time to stop making them and start focusing on making the ones that have good responses. 

10. Keep an Eye on the Analytics

Real Estate Sales Trends 2022

No matter which tools and tactics you apply for marketing, make sure you closely keep an eye on the analytics to understand the audience’s reaction. You can do it yourself or hire a professional who will keep looking at the numbers from time to time to determine the marketing strategies you use work in the long run.

11. Keep Your Relevance Score High

Real Estate Sales Trends 2022

Not all your audience will understand your advertisements before clicking on them, and some of them will even click on them with no intention of making further steps. Such clicks affect your performance to an extent, and to take care of that, remember to keep the relevance score of your advertisements high. 

You’ll have to pay more CPC if your advertisement isn’t very relevant. Once you set your relevance score high, Facebook will reward your advertisement. 

Conclusion

Real estate is an industry that keeps changing at a faster pace compared to others. But that will not be a problem if you take the necessary actions based on the situation at the right time. By implementing the aforementioned Facebook marketing strategies for real estate, you will be able to handle any new challenges with ease. Reach out to the experts at Beyondwalls; if you are looking for a reliable PropTech ecosystem to take care of the Facebook marketing strategies of your business to ensure it scales rapidly in the long run. Contact us for further details!

Categories
Real Estate Marketing

Top 5 Real Estate Sales Trends to Watch in 2024

Real Estate Sales Trends 2022

The coronavirus pandemic has affected our lives and the world in every way possible. The entire economy was brought to a standstill, and it was a slow and steady journey for it to reach its earlier position. Commercial activities of every nature were affected by the pandemic, and the lockdowns that came with it. Once the threat gradually reduced, these commercial sectors revived themselves, but they are now different from their old self.

The Evolved Real Estate Sector

Real estate is a leading sector in the economy, and has had its share of impact. In the post-covid era, the sector has seen a lot of changes which are mainly due to changes in dynamic between its various stakeholders. Developers, channel partners and homebuyers are the key stakeholders in the industry, and their demands are inter-dependent on each other. They have to operate in a balanced network for the industry to thrive, and this balance has been altered by the pandemic.

The choices and demands of consumers from the real estate industry have been largely altered. This new behavior is aligned with the challenges and problems that the economy faced during, and after the virus outbreak. The uncertainty that was being felt in almost every aspect of life has made the attitude of homebuyers extremely cautious and selective. The reasons behind investing in a home have now shifted from being a mere sense of financial security, to being a feeling of control and convenience due to trends such as social distancing and work from home. Home ownership is hence preferred over tenancies, and people are willing to contribute to real estate sales. However, they want properties to meet all their expectations before making their purchase, and it is now more important than ever for developers to understand their requirements.

The following are some emerging trends in real estate that can provide valuable insights into the industry and market, and the altered behavior of its stakeholders:

  1. Change in Consumer Sentiments:

    2. Real Estate Sales Trends 2022

    Consumers are the driving force of the real estate market, and their sentiments shape the market. For the past two years, the lack of job stability has made people very cautious with their expenses. For a purchase as significant as real estate, most people have to take loans. For these loans, the rate of interest has been steadily rising which is further changing consumer sentiments towards the decision of property purchasing. Developers must be aware of these concerns of their consumers in terms of property pricing and should accordingly plan their projects.

  2. Change in Consumer Awareness:

    3. Real Estate Sales Trends 2022

    The new-age consumer is very aware of the market, and this awareness has led to increased levels of scrutiny for developers. With the digitization of real estate marketing, every information relating to a property and developer can be easily accessed by consumers. They can inspect the property and compare prices, read testimonials by other consumers and ensure that the property they are considering is a good and solid investment.

  3. Rising Costs of Development:

    4. Real Estate Sales Trends 2022

    A by-product of the pandemic and the stop in manufacturing caused by it has led to the prices of raw materials such as cement, steel etc. going up. These materials are crucial for the real estate industry. If their prices increase, developers are left with no alternative to earn profits from their business besides increasing the prices of properties. These higher costs affect homebuyers, which in turn disrupts the entire real estate sales cycle.

  4. Increasing Role of Channel Partners:

    5. Real Estate Sales Trends 2022

    Channel Partners operate as a link between developers and homebuyers. They are essential in the homebuying journey since consumers rely heavily on them to understand their property requirements, suggest suitable properties and help them buy it for the best price. In the current scenario, consumers have a lot of property information readily available, which makes the selection process more confusing. Hence, in the emerging new trend, brokers are heavily relied upon to accelerate the sales of real estate.

  5. Improvements in Home Design:

    6. Real Estate Sales Trends 2022

    The buyers of today are very aware of concepts such as automation, sustainability of resources etc. due to the awareness that is being generated about them. They expect these to be incorporated into home designs as well. Properties that have automation in their features, and those which are constructed in an environmentally conscious manner are more in demand. Developers who include these features in their projects should make sure to incorporate these in their real estate marketing plans so as to make their properties desirable.

These trends are the current direction in which the real estate industry is heading. These can be used to the advantage of all stakeholders if they know how to correctly exploit them. BeyondWalls – an Integrated PropTech Ecosystem in India is the ideal partner for end-to-end real estate sales and marketing. It can help to navigate the market trends and elevate the real estate experience.