The real estate market is expected to touch Rs 65,000 crore by 2024 and by 2025, this sector is expected to contribute 13 percent of the country’s GDP. The buyers are regaining confidence, experts are expecting a V-shaped recovery in the economy. So, having an effective real estate strategy is the need of the hour.
Now let’s see how we can come up with the best sales strategies.
Real Estate Sales Strategy: Know Your Market (KYM)
Residential real estate sales grew by 60% in the first half of 2022 to 158,705 units across the top eight cities in the country. According to a Knight Frank report released on July 6, home sales in the National Capital Region (NCR) centered on New Delhi grew 154%.
The reasons are:
- Lower Rate of Interest
- Government Policies
- Flexible Payment Options
- WFH Norms
- Stagnant Prices
Understanding the sentiments of the market makes selling easier & effective.
Real Estate Sales Strategy: Understanding Government Policies & Finance
Sales in the real estate sector majorly depend upon finance & government policies. The rate of interest on home loans set the tone for the market. Lower rates of interest boost real estate sales & vice versa.
Government policies regarding house property deductions in income tax, stamp duty exemptions, etc also affect the buying decisions. Such policies affect the buying decisions of those who are looking at the property for investment purposes.
Real Estate Sales Strategy
Digitisation
The pandemic has accelerated the digital transformation & Indian real estate sector has not been an exception. The industry has adjusted to this new normal by adopting various digital & technological methods like – Virtual engagement, digital marketing strategies, cloud-based applications & data security.
Property Portals
Post-pandemic, there has been a sharp increase in online traffic as offline media was not accessible then. Property portals are not new to the industry but now, the reliance & relevance of such online portals has increased.
Real Estate CRM
Lead nurturing & conversion are crucial for any salesperson. The pandemic has further increased the importance of each lead or inquiry that comes in.
To make the most of every inquiry, realtors must use CRM software. It helps capture leads, track interactions, understand customer sentiments, schedule appointments, etc. Managing inventory and sales requires a Customer Relationship Management tool. It allows you to track the entire journey of the lead and close more property sales.
IVR Applications
Real estate agents contact Prospective clients to discuss their needs, arrange site tours, and more. However, manually dialing a number, noting the caller’s needs, and recording the conclusion takes a lot of time. Using IVR software is a simple way to increase their productivity. Calls can be recorded for quality control. Additionally, if another agent has to follow up with the lead, he can understand the full context of the conversation. He can deal with the possibility better in this way.
Mobility Solutions
The rise of virtual site tours forced developers to shift to online media to remain competitive. Some applications could assist agents go digital &:
- Add and view home buyer data.
- Use video conferencing apps like Zoom to conduct virtual visits.
- Make calls.
- Send emails.
- Access inventory data on the go.
This centralized view of all functions facilitates increased property conversions.
India is evolving & so is the buyer in India. Cope with the changing scenario, and preferences, and to create a seamless home buyer journey, investments in technology & the process front are essential.
Create your robust sales process by understanding what affects customer sentiments such as the financial landscape & by understanding the selling points of the respective property.
Creating an effective sales process is the secret to the ultimate real estate sales strategy in 2022. If you want to know how to make the most of these opportunities, sign up for the mymagnet CRM now!