Digitization, competitiveness of the real estate professions

The global real estate sector and of course the search for accommodation by real estate consumers is digitizing very rapidly, relying on information technology and digital marketing communication tools in their real estate transactions. In advanced economies around the world, the hunt for housing by real estate consumers is rapidly gaining momentum.

The COVID-19 pandemic, which has seen so many businesses operating digitally from home, has also jump-started this development which has seen so many real estate companies, agencies and brokers and their consumers enter into deals without physically meeting any of the parts.

In fact, so many global real estate businesses that were hitherto not strong online prior to the advent of COVID-19 are now operating digitally, encompassing the full spectrum of integrated marketing communications – PR, marketing, advertising and aggregated media. . These businesses can never function optimally without their post-COVID-19 online marketing strategies.

In 2020, for example, the pandemic paved the way for online research and real estate transactions. The global online real estate market has seen a significant increase. An online real estate company should be data driven; most consumers prefer to shop online and have their homes and apartments delivered. This is empirically proven by more than 100% real estate transactions by the global company in its post-pandemic business activities.

In the Nigerian context, where most real estate companies have yet to embrace digital communication as a business development and sales strategy, it is imperative for them to quickly align with changing global trends and stay competitive. in the global real estate market.

At present, few Nigerian property companies are embracing digitization at a very slow pace and online consumers are growing daily, looking for the best online platforms to connect and meet their housing needs at the same time. for commercial and residential purposes. Incidentally, there are online platforms that provide services in all sectors, but they are not real estate professionals to effectively meet the needs of real estate consumers in this space. As real estate professionals, we need to own and manage our online spaces effectively and deliver real value to our customers, prospects, and broader stakeholders.

Doing well in the online space of the real estate industry has many advantages. Apart from repositioning the brand, it sets the company apart from the crowd; builds brand equity and connects to many online opportunities and prospects.

Gaining local and international relevance for immediate and widespread market dominance is another benefit that comes with digitizing a real estate business.

As forward-thinking organizations, real estate companies must adequately leverage social media platforms to promote their business, connect with customers and prospects online. Their digital campaigns need to be top-notch, resonant and engaging enough to generate the necessary online traffic and impressions that will lead to sales.

Real estate professionals with a very strong talent for media creativity should be hired by companies to develop their online marketing and sales strategies. They should also be trained to run the campaigns and manage their website and social media handles. The benefits of going digital as a business, agency or real estate business cannot be overstated.

Nasiru Gaya Maje, a property surveyor and appraiser, sent this from Abuja.

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