Most of you who know me personally know my consulting background. In fact, Loyalie was integrated with the sales process of various other industries before we started focusing solely on customer and channel partner loyalty for real estate.
Today, I decided to take a leaf out of my past and share a few thoughts on how the real estate industry could reignite its business and sell using contactless channels.
The core of my thoughts is simple – How to build trust in the current market?
As a real estate developer, when you’re asking someone to invest 77% of their wealth into your product, trust cannot be emphasised enough.
Where do we start?
A good place to begin would be to create the visual. Use technologies like drone shoots, live conferencing from sales offices, user-friendly websites, and virtual tours to help your customers envisage their future.
But most of you are already on the right track when it comes to the visuals. So, let’s look at the other factors that can make a difference:
1. Lean Back on RERA to sell Real Estate
There’s really one cardinal rule to keep in mind here:
The stronger the RERA body in your State, the easier it is to build trust.
All you need to do is let customers know where the Act protects them – mention the securities of the escrow account and highlight other benefits. Create transparent communication and reassure customers of real estate!
2. Leverage your brand
If you have a legacy behind you, nothing like it. An alternate income/ industry behind real estate which is untouched by Covid-19 is a great advantage. Also, it goes a long way in building trust when your company/ group showcases their community efforts in the face of the current adversity.
3. Construction Updates
Using your social media handles, website, and any other brand medium to remind customers that construction has restarted is an effective way to calm their nerves and sell consistently. Creating a constant flow of transparent communication informing the updates and challenges you are facing, keeps the customer within the loop of trust.
4. Video conferencing ethics
Communicate with Zoom/ Teams more effectively by using images of sales offices instead of logos. Time and time again, I’ve noticed in Webinars, the background is simply a logo. Superimposing the logo on a sales office picture and ensuring that the sales team keeps the camera on makes conversations more personable.
5. Time to lean back on influencers
Your company has 3 types of influencers who drive the entire sales by giving first–hand recommendations to prospects: customers, channel partners and employees. Streamline these channels with bespoke technology and gain the leverage in a contactless world.
6. Giving it in writing makes a difference
I understand the apprehensions of the past, but today, giving things in writing is easy. It reinforces trust and makes it easier for customers to believe in a system that is created to protect his interests. Also, there’s no downside, since all of it is already mandated by RERA.
7. Use Price Protection Schemes
You can assure homebuyers against price depreciation and give them protection for a considerable duration. Also, push your discounts towards the final payments. This way you generate sales immediately and avoid unnecessary cancellations based on market rumours.
8. Help customers envision success
Don’t let the looming fear of a second lockdown wave stop your sales. Facilitate seamless handover of your ready to move–in inventories with our partners who can furnish such apartments for rent/purchase immediately and address buyer’s concerns on what happens if they’re stuck at home.
9. Lend a helping hand where possible
The COVID-19 economic distress has hit and continues to barrage many customers who are finding it difficult to maintain the financial flow. Giving realistic solutions to these customers and lending a helping hand wherever possible builds your brand trust in the long run.