5 Strategies That Real Estate Developers Should Consider To Defeat Pandemic During The Lockdown And Reach To The Mass
Due to the impact of the Corona Virus outbreak in India, the real estate market has seen a significant dip since February 2020. According to various surveys, more than 85% of ongoing projects are on hold as the lock down is taking place from the first week of March. The market GURUs are on talks about the real estate market after covid19 and how to implement smart yet supremely effective strategies to counter this new threat. However, we understand, in the real estate industry, almost everything has come to a standstill and will take a lot of time to recover.
Top 5 Smart Real Estate Developers Strategy During COVID-19
If you cannot go outside and are refraining from selling a property, then go online and use the virtual platform to reach out for your probable customers. Here, some of the best strategies to defeat the Corona Virus by real estate developers have been enlisted for you.
1# Go virtual:
You can go virtual and make the full use of PowerPoint presentations through which you will be able to showcase valuable points on the pros and cons of selling the property. If there are any upcoming projects from your end, then you can show the videos and pictures virtually, and the buyers can tell you what they like. These will focus on the minute details of the property and clarify their queries as much as they want, regarding the projects.
2# Provide the latest information:
Going online, in fact, provides more options for a real estate developer to get direct views of their customers. You can make the ultimate use of social media platforms like Facebook, Instagram, etc. Google Ads are also reaching out to the mass to entitle them with the information. If the buyers want to read about property descriptions and wish to check out the project pictures, then sharing some of the latest photos of the project via email or WhatsApp would be an ideal option.
3# Keep varied communication getaways:
You may be wondering how you would still be connected with your probable buyers since the entire world is in Locked-Down currently. But, here, some possible ways are:
A safety management team for the workers
During this deadly pandemic, there is nothing more important than the safety of the workers. One corona positive case and the local authority will seal the area. For this reason, as a real estate developer, you will have to confirm safety to your team. Make sure that each of the workers is wearing a mask and maintaining social distance. Furthermore, create awareness for sanitizing hands before having food. This will unify your team to fight the virus.
Intensify customer-developer relationship
If you show empathy to your existing customer in a difficult period you will win the goodwill. It is normal for the customers to be unable to release a lump sum amount in this lock down situation. Hard and fast rules often damage relationships. For this reason, it is a good strategy to support your clients. This will help you in creating a good image among the clients.
Proper management of the construction
There is no doubt that the corona virus outbreak has added uncertainty in the material and fund supply. Hence, this will be a challenge for you to distribute the work properly so that the procedure can run at a smooth pace even with restricted human resources.
4# Automated Solutions
You can use computerized answers to their questions by using the integration of chat-bot on the real estate developer’s official website. You can also use the lead funnels from FB or Google for the same purpose. However, if your client is still not convinced, then you can call them up and have a word directly. The usage of artificial intelligence provides them with all the answers instantly. The solutions are entirely appropriate and will solve their basic queries completely.
5# Attractive offers and giving away discounts:
If you are willing to sell the property, this is the best time. You can give many suggestions which might be in your favor, unlike other times. There are great offers and discounts that you can provide the purchasers with to attract investments in your projects. Some of the suggestions we have enlisted below for your aid
- Low booking/ application amounts: It is one of the best real estate developer’s strategies during COVID-19. Let your clients go through your profile and take a look at the low booking amounts. It can save them a good fortune as it might give them better ideas and you better profits.
- GST discounts to gain more eyeballs: The GST discounts help them in saving a lot of costs. This will also gain more eyeballs, and the keen buyers will come forward to purchase more properties from you.
- Ready-to-move-in apartments are more in demand now: you can sell fully furnished apartments. These are in high demand now and are best suited to the situation.
- Price protection guarantee by branded developers: The prices that you will offer must be guaranteed with protection. The clients would like to zero in on some trustworthy and genuine developers where hacking or misuse of money will not take place.
- Zero cancellation charges: If the customer changes his mind regarding real estate purchase, then it will not cost them a penny to cancel their bookings right away. This kind of offer will evoke considerable interest among probable buyers.
- Booking with a branded developer is hugely beneficial: As a branded developer, customers must find your rates and projects reliable. If in case any problems arise, then you must contact them and sort it out immediately.
- Attractive prices: Offer an attractive price that will suit them perfectly during the COVID-19 outbreak. Such attractive rates will get you more customers for sure.
You should take this lock down situation in your favor and make buyers aware of your projects, portfolios, and completed projects. If you can apply all these smart strategies aptly, then we can easily defeat pandemic during the lock down and reach the mass.