New normal is being popularly used to describe the extra cautious times post lockdown, where personal interactions are merely reduced to virtual meetings. This lack of personal touch can often act as a significant barrier in the communication between an interested homebuyer and a developer. Home buying has never been a swift decision amongst Indians. They have been accustomed to personally visiting the construction sites for examining location, settlements around, amenities and complete outlook of the project they are planning to invest in.
Although now due to the rapid spread of infection, these activities are being restrained from both ends. Resultantly, the developers are stuck in a tight spot for creating similar home buying experience that helps them in fostering a trustworthy relationship with the interested buyers. Digital tools like virtual tours are helpful to an extent but there is still a need to take that extra mile.
Why transparency and trust-building is important?
Homebuyers tend to invest their lifelong savings in purchasing a property; they will not put their money in the hands of a developer who fails to address all their concerns. Buyers will be interested now to know more about the cleanliness and maintenance in case of ready to move in properties. We are well aware of the fact that cleanliness and hygiene standards have taken a new definition ever since Corona has entered our lives. Developers must be prepared to justify the maintenance costs due to the range of extra precautionary measures taken by the facility managers and maintenance staff.
The lockdown has made developers launch lucrative schemes like never before, the buyers who would be interested in entering into this arrangement would need a transparent and coherent layout as to how the schemes would reduce the financial burden on them. It is the job of a developer to explain the payment flexibility to these buyers in order to avoid any confusion later.
· Every homebuyer is interested to know your track record as a developer. This is where ORM plays a huge role. Make sure the social media platforms are updated and leave no doubt in the consumer's mind.
Apart from this, the developer's opinion as a market expert also fetches great credibility. Maintaining your frequent presence on leading financial and realty platforms turns out to be very helpful.
· Testimonials from your existing customer base and investors are something that will provide the buyers with first-hand information. Be open to the idea of interaction between your existing buyers and potential buyers.
· Showcasing your legacy in this business may not seem like something that promises sales but it establishes your name in the market. Therefore, celebrating and publicizing milestone days like foundation days, project inauguration and complete possession achieved days is also crucial.
In the current market scenario, if buyers are interested in investing in property, they would be demanding more than the usual information to be completely sure. Developers cannot simply rely on customer service, mailers, and SMS. They have to closely understand the changing homebuyers' mindset and customize their offerings accordingly. In order to do that, it is important to be updated about the latest trends, the response your projects are getting from other real estate aggregator websites, and the developer group's social media platforms. This will help them in designing their campaigns and modifying marketing models as per the new normal.