Real estate has to adopt digital fast

New Delhi, May 23 (Punjab Post Bureau) – Realtors present at a real estate webinar made it clear that going digital will be the way forward post COVID-19. The third edition of realty webseries organized by ICCPL and Realty & More was themed ‘The state of real estate post COVID 19.

                 Speaking about advertisement spent on digital v/s offline Deepak Kapoor director GulshanHomz said that most of expenditure for promotion is on digital media. Before Covid-19 it was around 70 per cent offline and 30 per cent online but now things will reverse in future. During the lockdown 100 per cent spend was on online but post Covid offline too has to be done especially for the young-at-heart population which is not tech savvy as compared to millennials. So a combination of both will happen.”

                Most of the developers have started new strategies of selling their homes through digital. All the developers are active on digital and during lockdown many people purchased also,” said Pravin Jain President of NAREDCO and CMD of Tulip Infratech Pvt Ltd.

            Vikas Wadhawan Group CFO PropTiger.com, talking on trend in online visits said that we will see massive adoption of technology as an outcome of COVID-19. In initial first two weeks there was decline in inquiries but then it all came back as we became more active on digital platforms like webinars. A lot of webinars were organized where projects were explained and we saw a lot of expression of interest and online bookings. It is an interesting development and the digital adoption will increase here onwards.”

                      Agrees Prashant Thakur director and head (Research) Anarock Property Consultants said that even before COVID-19 around 80 per cent of home buying journey used to start online but entire value chain was not digitalized. Now everyone has realized it is the new norm and all are adopting digital; having conversations through webinar etc.