The Pros And Cons Of
Internet Marketing
In Indian Real
Estate..!
- by Mr. Kishor Pate,
CMD -
Amit Enterprises Housing
Ltd.
Indians has been rather quick in going online, and the depth of Internet
penetration across the country is quite remarkable.
However, when it comes
accepting the Internet as a serious medium and tool to boost business, there was
considerable disbelief and change aversion among Indian developers in the past.
The general feeling was that the Internet was a 'new age' medium with little potential, and
that the tried-and-tested 'offline' approach to marketing real estate was still
the most reliable.
This mind-set has changed drastically over the past few years, and
developers are now making active use of digital media for marketing properties.
This acceptance has come primarily because developers saw that valid and
actionable inquiries do indeed come from their web sites as well as real estate
portals where their properties are featured. Today, every serious developer has
a website, and many also maintain blogs and social media accounts to garner
further visibility online.
 |
| Mr. Kishor Pate, CMD - Amit Enterprises Housing Ltd |
For consumers of real estate, the Internet has become an unmitigated
boon.
Visiting developers' web sites allows buyers to inform themselves about a
project before actually making site visits.
They can also make quick comparisons
of all available options that meet their requirements, and to do a considerable
amount of elimination to arrive at a final checklist.
Online forums allow them
to poll others' opinions and experiences with regards to developers and their
projects.
Obviously, property marketing on the Internet has also become highly
competitive.
Today, developers are vying for online space and buyer attention in
every possible way. In fact, a significant chunk of real estate marketing has
now gone online, and is reaping very satisfactory results.
Internet marketing outreach has become an inalienable and highly
effective part of most developers' overall marketing programme; purchase
inquiries triggered online can account for as much as 25-30% of the total annual
sales tally.
Real estate developers with clear USPs - such as projects in
exciting new locations or
within affordable price brackets - have clear advantage online.
Most developers today know that their websites - rather than their
marketing offices - are now their primary calling cards, and are investing
heavily into making them more attractive and user-friendly.
Likewise, tie-ups
with leading property portals are now de rigueur and a default route for major
developers.
However, it is not all clear sailing - the massive amount of online
marketing activity has also brought many pitfalls and stumbling-blocks for
online prospectors.
For example, a lot of erroneous information and 'false
positives' now turn up on Internet searches, thanks largely to the activity of
smaller brokers and uninformed first-party sellers who neglect to eliminate
options that are no longer on the market.
Also, many smaller developers who
launched web sites earlier fail to maintain and update them, adding to the
burden of erroneous information available online.
Even more worrying is the amount of misleading and outright false
information that is deliberately put out on the Internet.
This information
is often put out by people whose sole objective and business is to draw
internet traffic by fair or foul means. As of now, nobody is really
regulating the dissemination of such false information, which can be harmful to
both customers and developers.
Also, the Internet does not allow buyers to
negotiate for the best price, which is an accepted and expected privilege in
today's market.
It is early days yet, and internet marketing in most business fields has
yet to find its 'true North'. Meanwhile, it is important that real estate buyers
see it as a useful tool, but by no means the only tool at their disposal.
At the end of the day, real estate is still very much a 'people' business - as
such, it cannot become entirely virtual. When it comes to buying a home for
which one will make a very large financial commitment, nothing will replace a
site visit and personal inspection.
About
The Author..!
Mr. Kishor Pate, Chairman & Managing Director
of Amit
Enterprises Housing Ltd. is the driving force behind one of the most
successful real estate development firms in Pune and beyond. Apart from its
signature luxury homes towers and premium gated townships, AEHL has also
launched highly successful affordable housing projects like Astonia Classic and Colori in Undri
and the Mediterranean-style township Astonia Royale in Ambegaon.
For Media Contact
Jay Kalghatgi
Client Interface - CopyConnect
Mobile: 9320142248
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