Due to the ongoing pandemic and the resulting blockade, prospective buyers are trapped in their homes and reluctant to leave, which has severely affected appointments between buyers and sellers in all sectors. However, the situation of the conversion has forced both sources and claims to adapt to the new tactics of the real estate sector. The blockade has forced stakeholders to develop the use of virtual platforms and generation in the sector, according to Proptiger Research.
He says genuine real estate developers are going through demanding situations to find new tactics to attract buyers, especially with the use of generation solutions. Because blocking hinders physical site visits and communication, developers are investing in online platforms, adding skill to online e-book houses and cutting-edge tactics to simulate the physical delight of assets to home-related buyers. Drone shooting, virtual tours and online e-booking platforms become more important as the number of online shoppers increases.
While the Indian government’s “digital India” crusade was introduced in 2015, with the vision of “transforming India into a virtually autonomous society,” the blockade has given its home citizens a greater boost to using virtual platforms. Although the use of such platforms for monetary transactions and e-commerce has been fairly common, online trading transactions have gained importance with blocking. Internet users in India are expected to increase to more than 700 million by the end of 2020; this will give a new impetus to the crusade of digital India.
The economic downturn has resulted in fewer new releases and sales, however, on the buyer’s side, the use of online platforms to search and notice goods has temporarily recovered.
According to Housing Reseek, the first quarter of 2020 recorded a 30% increase in online search traffic compared to the first quarter of 2019. While online searches first decreased in April due to the initial surprise of the block, this was temporarily recovered. and recorded a 25% increase over the past year. Q2 2019. Although sales have declined, due to the economic recession, the number of interested buyers is expanding online, and dealerships find cutting-edge tactics to attract them, all from the comfort of their homes.
RECOGNIZE BUYERS WITH TECHNICAL SOLUTIONS
Since 2018, drones have been used in phases of genuine real estate structure. The existing scenario has led to the use of drones as a tool to provide a stopover on the site to delight buyers, where you can see the precise view of the surroundings.
In the case of virtual tours, three-dimensional models and guided tours are being developed to offer a real delight of the property. Virtual truth (VR) is also gaining ground. Virtual truth uses generation to create a simulated environment and has its programs mainly in entertainment, and now in health as well as in retail. In India, many residential real estate developers have already experimented with teams such as virtual tours and virtual truth to attract buyers, which are likely to grow even more.
Webinars have become a wonderful tool to connect with multiple buyers at the same time. The on-site scale procedure required the dealer to set on-site stops for each buyer, allowing him to make only one or two stops on the site. Using webinars has made the procedure simpler and more productive, as multiple buyers can now be accommodated at the same time. To identify an accessory and supply a person for other procedural requirements, buyers communicate with the dealer via videoconference.
According to the report, due to increased online store traffic, many developers are now advertising their homes through online platforms. These platforms provide end-to-end conversions for online-to-offline (O2O) conversions. Although the connection is established with buyers using such solutions, the economic recession has increased buyers’ monetary difficulties, leading them to postpone their takeover resolution from 6 to 12 months.
As a result, developers will also offer systems to make procurement functions more viable, which come with an exemption from registration fees and stamp duty, state-of-the-art payment systems, rebate systems, gifts, refundable reservations, and value coverage plans. The use of generation in construction, as well as in marketing and sales, is at a very emerging level in India, however, the ongoing pandemic has led stakeholders to modernize and explore more in this area.
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