Builders Offer Personal Touch To Encourage Buyers

Faced with a slowdown and increased competition, real estate players are trying to re-invent themselves by focusing on ‘personalized selling’.
Refusing to be lost in the clutter of ‘look-alike offerings’ in the real-estate market, a section of leading developers engaged in constructing properties in Bangalore, Mumbai, Hyderabad, Goa and Chennai is trying to carve out a niche by personally attending to the needs of each and every customer who strolls in to inquire about their projects.
Bangalore-based TSI Ventures director (sales and marketing) Jackbastian K Nazareth said, “The euphoria of inquiries witnessed since the past couple of years has now died down. But there are still quite a few genuine buyers. Now, in order to counter the strong competition and to stand apart from a string of look-alike offerings in the real-estate market one needs to make necessary marketing innovations and concentrate on personalized selling”.
While launching its much-talked about ‘Wave Rock’ project in Hyderabad, TSI has rolled out special cookies imported from New York and had distributed it among those who stepped-in for inquiries. Mr Nazareth said, “In India, buying a home is an emotional process and such personal treatment of probable customers helps in creating a lasting impression in their minds”. Further he added, “We will be launching similar schemes when we launch new township projects in Hyderabad and Chennai in the near future”.
Priti Chand, director (PR & Communications) of the group, which is building 200 villas at Madgaon and high-end apartments about 12 kms from Panjim, said, “Though we know that all inquiries will not materialize, we still design the product as per the requirements and choices so that we get tailor-made villas. We are marketing these projects as second-homes and we are therefore trying to get the homes tailor-made”. Further she added, “We live in a busy world and the time-starved customers expect personalized services such as carpeting, furniture and similar home decor jobs from us”. The Group, while recently launching its hotel projects in Goa, had organized fireworks display, fashion shows and had gifted wine bottles to visitors who graced the occasion. Ms Chand remarked, “We will be organizing similar displays when we launch our properties in Goa”.
Similarly, the Lodha Group which is currently in the process of selling a high-end villa project (each unit costing between Rs 3-3.5 crore) at Lonavala has also taken the ‘personalized’ route.
Lodha Group senior vice-president (marketing) R Karthik said, “We are providing first-hand experience of the villas to our guests. The customer while visiting our project gets an actual feel of the villa he or she is planning to buy”.
Further he said, “The company picks the guests willing to visit project site along with their family in a luxury vehicle. Right from being ushered in; the guest gets treated to the five-star experience which he/she will receive once the final product is ready. For instance, there are maids and butlers on call”. Further he added that the company has incorporated a ‘personal flavour’ while marketing and selling their products.

2 Comments

  1. Posted July 24, 2008 at 4:11 am | Permalink

    You must have noticed the various kinds of discounts that many developers are offering to persuade buyers. Most of them are just marketing gimmicks. In actual there is no reduction in the real value of the flat. There may be various expenses that the buyer is forced to incur during the possession of such discounted properties.
    In Thane, a developer was apparently offering a car with each sale. The promotions also claimed home loan interest rates at 8 per cent through two cooperative banks. The customers later found that the car was a bumper prize. Worse, the 8 per cent interest rate was only for the first few months!
    No Developer offers discount below the base cost, which includes the cost of land and construction. However, developers do offer value-additions and incentives to prospective buyers to speed up the willingness to buy. When looked at closely, these incentives do not have any significant monetary value. It’s observed in a falling real estate market, small developers start with such practices before going for distress sale. It’s also noticed that most of these practices are adopted by Dubai-based developers. For luxury apartments in the Middle East, developers tie up with car companies or offer other such discounts. Most of the products bundled with the house are either phased out or in the process being phased out.
    Such offers are from smaller realtors only. The bigger ones have sufficient holding power to await the natural progression of the property cycle.According to me a simple rate cut, perhaps, makes more sense than goodies.For more view- realtydigest.blogspot.com

  2. Shareef
    Posted October 10, 2008 at 3:15 pm | Permalink

    U check above the website link. I can’t see any information/display. A header is coming. even if i right click to show picture, nothing displayed. what s the use of this page…

Post a Comment

Your email is never shared. Required fields are marked *

*
*