Real Estate

Property developers see the need for adoption of tech-tools in selling

L N Revathy Coimbatore | Updated on June 16, 2020 Published on June 16, 2020

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Use of tech tools in the realty space did not see much traction until recently. Covid-19 and successive lock downs in the aftermath - to contain/ control the spread - seems to have ushered property developers to consider use of tech tools such as AI, Virtual Reality (VR) and data analytics more seriously.

“Digital on-boarding and virtual property tours have become the new normal in the industry,” says Samujjwal Ghosh, Director (Brand and Marketing), Xanadu Realty.

The company has started opting for tech-driven tools. “It has helped us reach out to more customers,” he said

The Mumbai-headquartered company was incepted as an alternative to conventional real estate consultancies. “We are looking at transforming the realty ecosystem from an investor-centric segment to a user-centric model.”

“There is more of one-on-one interaction before the buyer/ investor zeroes in on property purchase; people still look for the touch and feel option. The sector would have to look at enabling sales experience digitally and help the customer with right valuation.

“AI would play a crucial role in helping with the right lead generation. Property developers would have to imbibe such tools,” he said before adding that the real estate sector has been relatively late in adoption of such tech-tools.

Stressing the need for high level intellect on the developer’s side for creating a tech-platform to sell, Ghosh conceded that the habit of selling properties offline has been resonating with developers for a very long time. “So the intent to invest in such tech-tools is lacking.”

This scenario, according to him, “is bound to change in the coming days.”

Published on June 16, 2020
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