Need for effective digital communication for real estate industry

By Accommodation Times Bureau

image001 (1)Co-authored by Priyanka Kapoor and Anurag Shachindra, LIN 

“To be successful in real estate, you must always and consistently put your client’s best interest first. When you do, your personal needs will be realized before your greatest expectations”. This is a great learning given by Anthony Hitt, an international real estate business leader. In real estate business, one needs to have a very active base for communication with sellers, buyers and brokers. Real estate industry is one where lack of communication and delay in information on buying and selling, stock availability, government policies, bidding for real estate and so on can lead to huge financial losses and failures. In the era of digital advancement, real estate businesses also need to adapt to communicate with all their stakeholders including customers, builders, brokers, regulators and suppliers using efficient and effective digital technologies.

To start with, a real estate business must have an effective communications strategy which is far better than that of its competitors. The communication strategy can then be realised if the real estate business has easy access to technology that comes with a robust contact database, capability to target the right audience, mechanism for multiple types of digital communication, provision for mass marketing, mobility for notifications for internal communications, event management strength and real-time analytics to measure the performance of communication.

A real estate developer must have accurate and updated contact database. Customers and brokers move frequently and are very difficult to track. They also change their phone numbers, email ids and their addresses leading to stale contact information. A robust contact database that is well managed and is kept up-to-date is the base for any kind of communication. A real estate developer can incur heavy costs of sending messages to numbers that are expired or lose on customers whose email ids are incorrect. So it is necessary to have updated and correct contact details in order to reap the fruits of the investment. With growing population, the time has come that real estate businesses invest in a contact management system that can keep their contact database updated at all times.

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