What is the first thing that attracts you to a particular commodity? Most of us would agree that it is the ‘look and feel’ that works as the first impression of a product. When you go for shopping, you can actually touch and see the item, online portals show the picture of the commodity that pretty much convinces a customer as to how it would be. But how do you take the decision when buying a real estate project that is only on papers?
For a project that has not even started, it is obvious for the customers to get confused. However, as the Indian real estate industry is maturing, so are the marketing techniques. There are a number of ways in which the developers, sellers and brokers add ‘tangibility’ aspect to a project that does not even physically exist at the moment. With advancement in technology, this aspect is being emphasized by the industry specialists.
There are three main ways in which a product can be better explained to the buyer by giving a visual understanding of its look and feel:
This is the conventional method of selling a product and includes project brochures, templates, prospectus, etc. Apart from the fundamental knowledge such as the location, price, size and developer background, other things like the layout plan, floor plan and project elevation image also matter a lot for the buyer before deciding on a particular project. Since the touch and feel experience is not available at the time of buying a pre-launch or newly launched project, the buyers solely relies on word of mouth and what he sees on the brochure and information booklet. Developers, these days, are working hard towards striking visual correlation of the brochure with actual project, as much as possible.
Creating a sample flat has become a common practice among real estate developers, nowadays. These mockup flats give a better understanding of how their home would look after it is ready. This tool is generally used to market residential projects. However, there are a few drawbacks of the method. Firstly, the actual project will include units of different sizes and configurations, deciding on a property by visiting a sample flat might make the buyers feel cheated later on. This is why many a times, they accuse the builder of a false portrayal of their project. Also, it would not be feasible for the NRI buyers and investors to fly down to the country just for a sample flat tour.
Leveraging on the drawbacks of both the above tools and striving to offer a realistic view of the project, Virtual Reality has been launched as the latest method of giving the buyers a taste of their future dream home. Technology has made it possible for the real estate industry to see the complete project and take a tour in it on a virtual level. Some online real estate portals are also offering this technique to take a better look at the project. This tool is used for the ultra-luxury projects as the HNI buyers can easily afford such homes and would definitely spend a few more bucks for a better look at it.
Though the actual feel of your home can only be experienced on its completion, Virtual Reality, Walkthrough Videos, Sample Flats, Brochures, 3D Floor Plans, etc can give you a good look at your home even before it is ready. Tangibility instills trust in the buyers that the home they are buying is worth the money, so it is a very important aspect of real estate marketing.
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