Proptech, with its array of technological innovations, has brought numerous solutions to enhance how houses are designed, developed, constructed, rented, and bought. Today, homeowners are also expecting a seamless moving-in experience and post-sale engagement that is more personalized.
The US holds the highest shares of Proptech companies in the world which accounts for 59.7%, followed by at Europe at 29.2% and Asia at 3.5%. (1)
In terms of global investments, the growth graph only started moving upward constantly after 2012, when 221 million dollars were raised in venture capital by many real estate firms. Subsequently, the years that followed have seen an acute rise in investment to 1.9 billion dollars in 2016 and 18 billion dollars in 2022.
Primary gaps in the system – Customers are making an emotional and once in a lifetime purchase, however the builder is making a mechanical sale.
While the expectations of homeowners have evolved over the years, the homeowning experience hasn’t followed suit. While moving in experiences haven’t been smooth, getting a home loan still remains a tedious process. Builders fail to communicate effectively with existing buyers and put little or no effort in post-sale engagement.
With the advent of customer services most products have a great post-sale experience which only make customers expect more from their homes. Homes are a high value product and, in most cases a once- in- a- lifetime purchase. Therefore, homebuyers in today’s day and age expect to enjoy a seamless journey through all the stages of their home-owning experience.
On the other hand, real estate developers spend most of their time worrying about construction deadlines, making effective sales plans for their team, marketing the project, and getting govt approvals among other things. This causes a disconnect between what is expected and what is provided.
Whereas from a customer’s perspective, the aspiration and needs are different, for various audiences. For e.g.: a young parent’s needs would be different from that of an investor or a senior citizen. Currently, all audiences are being treated the same and therefore there exists a huge gap within the system.
How Reloy is pioneering in providing a seamless home-buying experience
A home buyers’ journey starts from the site visit stage followed by the booking stage, the registration stage, the waiting period, the moving-in stage and finally the handover.
Each stage has a different need and communication that requires to be made. Reloy helps bridge this gap by providing various tech and marketing interventions that help create a sense of security & trust in the mind of the customer. The company has built an automated communications suite for real estate developers.
This suite has been created to assist builders with various communications on projects, construction updates, payment schedules & more. Reloy also engages the audiences via events and providing a curated lifestyle experience.
Apart from this, Reloy has partnered with top brands across India to create a smoother homeowning experience from furniture to pest control, electronics and more. This helps builders in creating trust and delight with their homeowners.
Reloy’s digital platforms are designed to help builders on one hand in increasing their list of referral sales. Homeowners on other hand are benefiting from a seamless and stress-free homebuying experience.
Since its inception, Reloy has provided customer loyalty programs for top real estate companies like Godrej, Mahindra, M3M, Century, Embassy, Piramal, Gera, Arvind Smartspaces, JP Infra and more.
Creating a smoother and streamlined home selling experience
On the channel partner front in the past, builders would share marketing collaterals, invoices, payment updates etc. manually or through emails. This gave room to a lot of errors and inconsistencies in terms of marketing collaterals or project information like logos, brochures, floor plans and so on. Channel partners also found it very hard to effectively track their leads in real time, check invoice & payment status, update customers on latest offers etc.
There was a fundamental problem with the way builders and channel partners were working and therefore Reloy developed a digital solution (WinnRE) to create a seamless channel for builders to manage their channel partners effectively. WinnRE is also designed to empower channel partners equally and has curated features that make home-selling easier. Some of the features are one click registration for the channel partner, live tracking of leads, summary/history of the customer that helps channel partners identify what action needs to be taken on the leads.
Additionally, invoices can also be uploaded and tracked till payments are completed. Channel partners can customize and share marketing collaterals with their logo and information and create sales kits on-the-go. Furthermore, they can also get access to various team training E-learning modules that can help them gain better insight on various features of the project.
WinnRe has proved to be an efficient home selling solution for top real estate builders in India like Shapoorji Pallonji, Mahindra spaces, L&T Realty, Brigade, DLF, M3M, Rohan Builders and more.
Proptech is the need of the hour!
Proptech has therefore proved that it’s the need of the hour and has improved the industry. Reloy is one such Proptech pioneer & leader in India for customer loyalty. Reloy works with some of the leading builders across the nation and has been able to achieve sustainable growth over the years.
Overall, the Proptech industry has changed the real estate industry for the better. According to a Colliers report, investments in Indian real estate touched $3.6 billion during January-September 2022, thus, registering an increase of 18% year-on-year.
Therefore, investments are also expected to grow in India and will create a significant impact on the industry in the near future.
