New sales, marketing strategies need of the hour : Naredco chief

With an objective to boost the real estate growth and development, Naredco President hosted a workshop on ‘Sales and Marketing in Real Estate in Current Times’ along with EY (knowledge provider).

The workshop laid emphasis on changing customer landscape and buying behavior, developers’ response to the current changes, marketing strategies during this pandemic, digitalization across the customer journey, accelerating sales velocity, and the measures taken by the Government and RBI over the last couple of months.

Naredco President Niranjan Hiranandani emphasized the need for the adoption of new marketing trends and boosting the sales number by up-gradation. In this regard, he referred to changes in some car manufacturing companies adopted and survived in the year 1991 while those who did not were left behind.

Mr. Hemant Panicker, Joint General Manager – Regional Business Head- Mumbai and Vidarbha, HDFC, said, “From June onwards, we have seen an overwhelming customer response for housing loans. We have seen increased demand for ready-apartments and large houses where people can work from home and also meet the requirements of schooling and other things.”

In the workshop, developers highlighted how customers have returned to the market and they want to take advantage of the lowest home loan interest rates, reduced stamp duty charges, and various other offers available in the market.

Pradeep Aggarwal, Chairman, Signature Global, said the developers will have to invest in their teams and if their teams do not become tech-savvy, they will be left behind. Customers, he said, “will also adapt to digital change when you start sharing information with him. We need to work on the lead management system and social media which plays a big role.”

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Chaitanya Seth, Partner-Business Consulting, EY India, who moderated the workshop, said, “The real estate industry faced problems even before the pandemic. COVID has accelerated the problems. Now there is a consumer behavioral shift due to work-from-home and school-related requirements. Buyers need additional space to find a place to work peacefully in their homes. Developers will need to create a strategy on how to sell more and how to sell faster and mitigate low sales risk and create a positive ecosystem to accelerate sales velocity.”