25 pc of leads in real estate sector generated through digital medium: EY Report

New Delhi [India], December 11 : After being hit hard by the COVID-19 pandemic, India's real estate industry is now gathering pace and is on the course of a healthy recovery. Digital technology has played a big role in the rebound that the sector witnessed and also helped developers to navigate their way around the challenges thrown by the pandemic.
Even before the pandemic started, generating leads was considered as cumbersome. However, in a world where social distancing became a norm, it became even before difficult. Developers resorted to digital technology with the goal to improve productivity and profitability. It was also used as a tool to general leads and for marketing their inventory. With the help of the new age tools, apps and software, realtors could not only generate leads but also promote their listings with greater ease and reach a wider audience base.
According to the report by EY India, organisations that have invested in digital technology were able to generate 25 per cent of their leads through the online medium. The report also notes that earlier a mere 5 per cent of leads were being generated via the digital platforms.
"The real estate sector entered an unprecedented phase during the lockdown and things came to a standstill. However, prop-tech is enabling real estate to get back on its feet. With the help of 3D visualisation of spaces, realtors are able to showcase upcoming projects with ease. The immersive virtual reality experience that some of these apps can provide is almost as good as visiting the site albeit the hassle. With the help of prop-tech not only are real estate companies able to save time, fuel and energy for the home buyers but also enhance their overall consumer experience. At present, almost 60 per cent of our leads are being generated through digital media," says Aditya Kushwaha, CEO and Director Axis Ecorp.
Vinit Dungarwal, Director at AMs Project Consultants Pvt Ltd said, "In the post-pandemic world, companies have started to navigate ways to maximize the reach and connect with a larger customer base. Technology has been instrumental in bridging the gap that exists and helping people connect. LinkedIn has emerged as a great platform to reach out to people and facilitate connections when physical meetings were not possible. Platforms such as Zoho and Salesforce are being used by developers to effectively generate leads. Industry players are being creative and bracing new-age techniques at tapping newer avenues and connect better with their target audience."
Going digital not only helped real estate players in effectively tapping new customer base but also embrace a customer-centric approach. Whether it is to seek new prospective buyers proactively or simply publishing the details of the latest property options on social platforms, the proliferation of the internet and the host of real estate-related solutions are now being extensively deployed by builders.