Real Estate Stalwart aim to fuel digital transformation of realty sector

Mumbai, July 4, 2022: During the Naredco Nextgen Excelerate 1.0, event organized by NAREDCO (National Real Estate Development Council) the industry stalwart discussed how to bridge the knowledge gap and understand the marketing & advertising tools better and draw a roadmap to support the developers in sales navigation.
 
While the demand for residential real estate has been on an upswing in 2022, the macro-economic environment has given rise to new challenges. There has been a significant increase in raw material prices and developers have had to pass on the costs to homebuyers, especially for the mid-segment inventory. However, the buying capacity of customers did not increase in tandem. In fact, their risk-taking capacity has been reduced because of the lay-offs and economic crises. This has resulted in a gap between supply and demand.  And, while transactions took place on ready-to-move inventory, projects under construction did not show any movement.
 
“Primarily, there are 2 key channels- Tech/ digital and CP aggregation. Consumers need an integration of both. Their buying journey starts with research on digital media and then they look for an informed CP who can give them the right on-ground information and help them negotiate. For developers, this is where the crux and future for sales and marketing is. Bringing together digital media- tech platforms and a network of CPs can get best results and sales velocity” said Vikram Kotnis, Managing Director, Sell.Do.
 
Speaking about the importance of Channel Partners, Ashok Mohanani, Chairman Naredco Maharashtra said “Earlier you didn’t have to worry about sales so much; you build and it sells. But today, you have to put effort into understanding every aspect, right from research channels to channel partner. The CP aggregation model helped us realize how it is best to outsource that along with consolidation in channelsls”.

During the buying process, Homebuyers need accurate project information and consultation which is why many of them prefer to work with channel partners. This makes Channel Partners a crucial pillar of Real Estate sales. Developers need a network of channel partners who can serve as an extended sales arm that comes with a pre-qualified set of home buyers. 

Channel Partner aggregation has been and will continue to be the key to sales success in the real estate industry. Collaborating with them to bring in sales velocity is the need of the hour.