SIX SQUARE INCHES WILL DRIVE THE FUTURE OF REAL ESTATE

BY Realty Plus

Amidst the pursuit of profits and market dominance, the entire joy of creation is quite subdued in this voluminous game of selling bricks & mortar laced with swanky advertising campaigns and lucid data that serves a mistress to the one wearing the cap.

With advent of technology, consumers are becoming less receptive to traditional advertising and are looking for more immersive and intriguing experiences. Print ads and cold calling are losing their ability to draw attention and influence purchases. Digital platforms, mobile devices, and cutting-edge technologies have changed how organisations connect with customers.

Another major aspect is that real estate business is “Transactional Business”, the brand is not following the traditional consumer or brand lifecycle unlike consumer goods where products & services need post sales consumer interface.

EXPERIENTIAL MARKETING

Real Estate has been “banao, becho aur niklo” mode where marketing is just a creative support service for sales. At best, Marketing is expected to generate leads and then that cycle ends when the booty moves over to sales domain. To overcome the clutter and forge meaningful connections with their consumers, brands are increasingly turning to experiential marketing.

Unlike traditional marketing methods that rely solely on one-way communication, experiential marketing aided by AI will create immersive experiences prompting direct consumer engagement. By engaging the senses, emotions, and intellect of individuals, brands can foster meaningful confluence of brand loyalty and direct conversions.

For any marketing to deliver sales, the product must substantiate the brand promise – which is a rarity in real estate. A Brand promise if only in creative words with an asterisk reference to a subtext that says ‘for creative representation only” to me Marketing ends its meaning there.

To me brand is a promise that a company must be willing to service. Simply adopting technologies does not guarantee marketing success. Brands must approach experiential marketing with a strategic mind set, ensuring that the experiences align with their brand values and resonate with their target customers. Moreover, while experiential marketing presents exciting possibilities, it should not be seen as a replacement for traditional marketing approaches. Rather, it should complement and enhance existing strategies.

FUTURISTIC INNOVATIONS

As technology continues to advance, futuristic innovations are poised to revolutionize how the business is managed

• Blockchain has the potential to transform the real estate industry by streamlining transactions, reducing fraud, and improving transparency. Smart contracts built on the blockchain can automate and secure the buying, selling, and leasing of properties, eliminating the need for intermediaries and reducing costs.
• AI-powered algorithms and predictive analytics can help real estate professionals make informed decisions. By analysing vast amounts of data, AI can accurately forecast market trends, property valuations, and rental yields.
• In a smart home ecosystem, Internet of Things (IoT) allows real-time data collection, monitoring, and control of various devices, such as security systems, thermostats, appliances, and more. This interconnected network can provide valuable insights for property management, enable energy efficiency, and enhance the overall living experience for residents.
• With the rise of remote work and flexible schedules, virtual workspaces have gained traction in recent years. These digitally enabled platforms provide real estate professionals with collaborative tools, virtual meeting spaces, and project management capabilities, enabling seamless remote work and global connectivity.
• The real estate industry can benefit from robotic automation for tasks like property maintenance, security, and construction. Robots can efficiently perform labour-intensive or dangerous tasks, reducing costs, enhancing safety, and improving overall operations. 3D printing has been in practice for a while with demonstrated capabilities, however, it is still a spirit kept in the cage.

SETTING NEW STANDARDS

The time has come that a whole new level of consumer experience needs to be extended to break the clutter, sell faster, log deferred revenue or advance sales and above all sell at premium.

Most importantly, brands will not just create experience, but a platform that sets new standards to create new heights I dream of a real estate model that will be driven by Multi-Lifetime Lease (Live Till You Live) where a consumer buys into multi-dimensional experience without having to own it. The services will be backed by standard financial tutelage for loans and mortgages to service asset notion. Imagine a chip that unfolds your housing needs as you need within the parameters of your regular EMI and driven by automated upgrade of services. Future will have "Housing As Service".

CUSTOMER EXPERIENCE WILL BE DRIVEN BY A 6 SQUARE INCH PLATINUM CHIP UNFOLDING A WORLD OF BESPOKE LIVING FOR LIFETIME OR SUBJECT TO YOUR PLAN. THE EXPERIENCE WILL HAVE CUSTOMISED, ON CALL, GOURMET, FURNITURE, ELECTRONICS, WHITE GOODS, INFOTAINMENT, LEISURE & OTHER ENDLESS SERVICES - WITH DWELLING AS PART OF THE SERVICE.

Tags : Transactional Business buying selling leasing of properties banao becho aur niklo robotic automation 3D printing