Online marketing in Real Estate Industry
Online Real Estate
Real Estate is one of the fastest booming industries and has expanded its promotional activities from door to door service to online services. There will always be need of high-tech infrastructure for residential as well commercial requirements and therefore will sustain real estate industry. With regular changing trends of marketing and promotions in all spheres, Real estate also believes in running with latest trends. Just like other corporate, Builders have started focusing on international market and online internet business strategies. These upgraded marketing strategies have reduced the communication gap between the seller and the buyer. Also awareness about the real estate market has developed giving rise to more educated buyers.
This is the century of internet and online business. Hence it is essential for the buyers as well as the sellers to stay updated with the latest information. Gathering information about anything is just a click away and so is the real estate. Any one searching for property or anyone looking for buyers, all requirements can be fulfilled easily online. However, property is an asset that is difficult to finalize online until and unless it is examined physically by the buyer due to the huge sum of money involved in investment. Still the basic information and close inspection of the property, alternate options and locality feedback can be done through internet. This will assist the person in scrutinizing the property while physical visit and one will be able to probe the seller in much better way. Online search allows the person to gain knowledge about the competitors available in the market. This will allow comparing the properties and negotiating in a better way.
There are numbers of internet portals available that may be utilized in gathering maximum information about the property. These websites work just like any other buyer seller portals wherein seller posts the property details and buyer search for options available. Moreover websites assist with many other services also like the list of agents working in a particular locality, list of builders, recent projects launched by builders, circle rates of that particular locality and many more. Instead of wandering here and there and asking for suggestions from different people, it would be advisable to research on these websites and then go for physical inspection. Apart from sale purchase, they also offer services of renting wherein one can search for options available for rented properties. Along with this one may even check his eligibility for finance and can calculate EMI for a particular sum of loan amount. A well researched person can safeguard himself from being cheated.
Portals for property search
www.magicbricks.com: This is one of the most popular portals in online marketing of properties and builders. Almost every builder working within India and their properties are subscribed on this website. Apart from builder, individual sellers also upload their property with complete features and specifications. Buyer can search the options available right from the home page itself by filling up their preferred location, type of property and budget. Complete information about the property including location, features, pricing and contact person are easily available. Apart from the property one can also search for the property dealers and builders functional in a particular locality. One can also get the details of finance options available and the banks available for housing loan along with their rate of interest. Even if one wants to calculate EMI on a particular amount of loan from a specific bank, that can also be cross checked easily. All in one it is a portal for all kind of real estate services.
One has to be alert while checking any details as the website ask for your contact detail as soon as you opt for contacting the seller. Once feeding the details, buyer will start getting calls from the seller or dealers.
www.indiaproperty.com : This is also one the popular website portal for property search in India. Unlike magicbricks.com, this portal tries to provide maximum information from the home page itself, and refines your search as soon as you enter the portal by clicking on your locality. Most of the features are almost same in magicbricks.com and indiaproperty.com and differ only in presentation if we talk from the prospects of buyer and seller.
www.99acres.com: The three websites always in competition with each other magicbricks.com, indiaproperty.com and 99acres.com. All three of them have the same kind of features but 99acres is slightly on the lower level in terms of number of visitors. If we talk about the website, it is also boring and non attractive as compared to the other two. It is group venture of knaukri.com and advertisements are cheaper on this website as compared to the other two.
www.makaan.com and www.commonfloor.com
These two are far behind the first three websites in terms of business generation but offers same category of features and facilities. Even their reach is limited to main cities of the countries and is still in process to capture the far off places.
Apart from above websites one can also search for property options and can even subscribe their property for sale on www. Sulekha.com and www.quickr.com. These websites are not specialized in property and offer all electronics and household items for sale and purchase. Still they can be used for more research and better options. They will not offer any kind of additional services like loaning facility, dealers list or filter as per the choice.
These websites work on the phenomena of number of visitors. Maximum number of sellers visiting a website means creating multiple options for buyers. Likewise more buyers mean better response for a seller. Hence it is the marketing strategy of the website to generate maximum viewers for the portal which ultimately increase the costing of advertisements also visible on their websites. Such banner advertisements are mostly done by builders launching new projects which ultimately results in enhancing the portal traffic.
Sellers pay for subscribing their property on the website which varies from website to website and also according to the package. Mostly one property subscription is free in almost every website. The package concept for advertisement is mainly for the builders and dealers subscribing multiple properties. A single property owner can do it free of cost.
It is advisable to visit all websites while searching or subscribing a property as each one of them will offer different properties for sale or purchase. This will allow creating multiple options and will enhance the probability of getting the best.
Online Real Estate
Points to be taken care
- One should never finalize any deal of property online or telephonically as the portal is not responsible for the authenticity of the property.
- Many a times it may happen that the property available for sale is already sold out and seller has not removed the subscription.
- One should not totally base the search on online portals as still there are buyer and sellers in market who even don’t know anything about internet options.
- Filter the search into type of customer (Dealer, builder and individual). One can be misguided by the dealers by providing false details. Verifying the property physically and checking all property related document is the best option.
- Pricing offered are only the approximate prices and can be negotiated further for a better deal.
- These websites are not worth for sale purchase in outskirt areas because of non awareness. Whereas such areas offer better investment options.