The outbreak of the coronavirus has impacted the business sector largely. All industries from small sectors to big industries have been impacted. This includes the real estate sector too. The contagious disease has made realty stakeholders depend on and adapt to the recent digital trends.
The real estate sector displayed great tenacity against the unprecedented odds that shrank the economy and impacted consumer spending in 2020. Even though there were roadblocks during the start, strategic and meticulously developed marketing campaigns helped developers connect with prospective buyers and close business deals thereby keeping the businesses intact.
Let us look at some interesting trends in the real estate market of 2020 that could change the game this year:
3D virtual tours
Off late, 3D virtual tours have become one of the famous trends in the real estate market thereby drawing the attention of potential customers. A few years ago, people only brought properties after they visited the site, had a closer look at the properties, and personally took a tour of the amenities and facilities that the property came with. But today, people are convinced and they take decisions by viewing the property in 3D on their mobile phones. Such visual walk-throughs help property buyers understand the specifics, features and amenities of the property. The trend of 3D virtual tours has given a boost to property sales during the pandemic and it will help revive the market sentiment in the near future.
Due to the uncertainty created by COVID-19 in the business sector, we have seen an increase in the number of developers listing their properties on property aggregator portals. Such portals help builders connect with potential clients due to the great reach and exposure these portals have and there are many portals that offer payment facility options that ensure faster deal closure.
Social media marketing
Businesses are switching to social media platforms like LinkedIn, Instagram, Facebook, YouTube etc to promote their products or services. Switching to these platforms have helped them lower their ad costs per head and helped increase their potential buyer inventory. These companies have also been witnessing better quality leads generated by running social media ads.
Personalised email marketing
A personal touch always enhances the customer experience. Customers like receiving emails that have a personal touch to them. It is wrong to send bulk mailers to customers because it mostly could hit their spam boxes where thousands of emails pile up. It is advised that real estate businesses, or for that any business, must invest time and resources to create personalized messages to their potential audience in order to enhance their customer experience.
You feel good to have the feeling of belongingness. During the pandemic, people started socialising online and began joining communities that entertained them and made them engage in matters of their interest. It is good to build online communities and share the content of similar interest like property investment and it will certainly help boost our brand image and accelerate conversions.
By the year 2022, the real estate sector will get back on pace with the help of proper marketing and communication. The real estate sector is embracing digital transformation and we can see trends like digital personalized chatbots, automation and more to come in the coming years.