The future of Real Estate in the age of social media

The scenario of the real estate market has completely changed today with the advent of the digital age. More consumers are making use of the internet to fetch information across various spectrums before buying homes.

New age developers and buyers have turned to digital medium to connect with one another in a big way. Social media blogs lead to portals of property developers and help buyers to know about their projects. For example if you wish to buy luxury villas in Bangalore or any other city, just browse for the specific property and search by the builder, price, services, or city. How do builders and buyers leverage the social media for their benefits? We provide some answers.

Virtual suites add solid support to business

Builders and developers that have failed to register their presence on social media will find they have lost one of the biggest marketing opportunities.

Digital marketing has taken the business fraternity by storm and even though real estate was hesitant to traverse into unknown waters, it has finally taken a plunge. Perhaps real estate was comfortable in doing its business the traditional way but seeing the onslaught of social media presence, they have no option but to comply with trends.

Today’s customer likes to be well informed about most things that affect them. Buying real estate is one of the biggest decisions they make and so they begin their search on the internet. They check out projects, brokers, completed constructions, under- construction projects, prices, legalities, and even the new technologies used in buildings. Builders and developers have understood that customers like to make informed choices. So they are supplying this information through social media.

Silent communication works effectively,

Websites are no longer just a brand presence but powerful marketing tools

Right communication is the key to marketing. Social media has opened a vast window through which real estate can communicate instantly with prospective customers. Real estate too has caught on to this trend so much so that, besides establishing their brand, they even have marketing teams that communicate effectively on a daily bases with page visitors. These communications contain useful information; images, graphics, and even videos that portray the right brand image of any property located anywhere.

It is possible that mages of luxury villas in Bengaluru build interest in readers in another part of the country. However, for better information these visitors are likely to read the comments and the testimonial pages to get a more realistic picture of the building project. They will communicate with customer service before plunging into any decisions.

Social media is a gateway for instant advertising

Real estate can leverage social media as an advertising tool that gives customers what they are looking for

Social media has a pervasive presence through channels like Facebook, Twitter, Instagram, Pinterest, LinkedIn, Google Plus and YouTube. These channels have millions of visitors daily.

As an illustrative example, one can choose Instagram to resell a luxury apartment successfully. A single image speaks a million words. It can also sell an apartment quickly. That is the power of social media. Both buyers and builders now understand how to use it effectively. Whether it is Twitter, Facebook or Instagram, the possibilities are endless. A new buyer can check various blogs before buying luxury apartments.

The benefit of social media as a direct marketing tool is that a brand can have full control of campaign once they have understood consumer psyche. If for instance medical doctors prefer residential apartments near hospitals, they can provide that information to them. Builders anywhere can use the medium to build awareness of their presence.

For instance, if a builder is selling Residential Apartments in Bangalore, they can use social media to geographically target the customers and update them. This does not mean targeting just those people who are in Bengaluru; the platforms run complex algorithms capable of targeting people with interests in Bengaluru, even if they live elsewhere across the globe.

Customers who have already booked apartments can be informed about how the work is progressing, at what stage of completion the project is. This kind of transparency goes down well with consumers and gives the brand image a boost. Similarly, builders use social media to announce new launches, special offers, discounts, etc. as it is a cost effective medium and provides instant responses.

Make or break social media reviews

Real estate is a traditional business but consumers prefer a modern and transparent approach. It is best to embrace the new trends to keep business active.

Real estate social media marketing campaigns therefore have begun to revolve around the buyer and getting to know market sentiments. So, apartment projects reflect customer choice of features and amenities. Today social media pages often have reviews about real estate projects and these reviews often influence consumer sentiment. Therefore, real estate has to be on its toes to ensure that buyers get what they are looking for or they could find that negative reviews are bringing down their brand image and sales.

Happy customers mean happy reviews and probably more sales. Real estate can therefore garner the social media to build trust among consumers by offering transparent information and a product that matches consumer aspirations.