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How to Sell Large Real Estate Projects At Low Marketing Cost

BY Akshay Chakrapani

Why should realty developers market their projects in the first place? Well, in the late 90’s the property boom was confined to metro cities only but, later even the smaller cities have witnessed a tremendous growth in real estate. It became hard to buy a property because of ever mounting price and also equally difficult for builders to sell the properties due to large number of players and cut throat competition therefore marketing a real estate project advantageously at a basic marketing budget is crucial.

Selling smaller projects with few units or plots is a relatively easier task but, selling large projects is getting tougher by each day. As an entrepreneur its important to keep the selling going on as huge money and reputation is on stake here. There are few tips if used carefully can help sell large projects in lesser time:

  1. Don’t underestimate the power of Social Media

Here, buying thousands of likes and followers from “fiverr” is not what I mean. You must look out for organic likes where real people shall follow your brand and engage.  Post engaging content on all social media platforms use quality images and real images of the project once in a while to keep the project look real and desirable, use “bitly” to track the clicks and promote your page/profile on buying/selling platforms. Ask all your staff to like and share the posts (This is by far the greatest technique to gain followers) strategically use trending topics and keywords in your posts to make then even more visible.

  1. Get a Landing Page

Having a great looking website is good for your brand but when it comes to selling a particular project a call to action is more powerful than just explaining the project. Landing pages not only displays the project nicely but, also allows the visitor to enquire in real time. As a result, you get genuine leads at a very low cost. The landing page’s URL must be there in each social media post to redirect the interested clients to your landing page.

  1. Go For Bulk Messages, E-Mail is for Sissies

This is my favorite,  when we email it usually lands in spam folder where the chances of opening are as low as 5-10 percent (According to “Mailchimp’s” real estate industry standards) so it’s good for branding, but selling a project takes a different approach. Bulk messaging is great as it’s easy to get data of specific target segment such as govt. employees, corporate people, voters of a specific area etc. And it comes very cheap. The mobile data if entire NCR is available for 20 thousand rupees and an SMS cost as low as 6-10 paisa. You can choose to use local language/ Hindi or English according to your target audience

  1. Do not hesitate to cold call

When selling a large project getting directly into conversation with potential clients is the key. By the means of cold calling you can explain the project personally removing all the doubts in customers mind along with creating a better brand image in your locality. However, do not forget to ask if the person got time to listen about the project and be very polite throughout  the conversation.

(Tip: The same local data used for bulk messaging can be used for cold calling too as large number of cell phones are on DND (Do Not Disturb) Mode. )

  1. Follow Up

Never forget to follow up on calls and enquiries made on calls, SMS, landing page forms and through various social media platforms. There must be a separate database for follow-up calls as any failure catching up with an interested client can be disastrous for any form of business.

  1. Coax them to visit your office

The closest you can get to you potential clients is by having a meeting with them. With each converted call and follow up try to bring the client on desk. Visiting your office can assure a customer that you are a real company and he can approach you anytime. This confidence is the key to convert a potential customer into a loyal customer.

  1. Explain The Project in the best possible way

Whether it’s a land or a flat sell it in such as way that the potential customer will see his future home there. Many of the buyers today are likely to buy just for the sake of an investment but, if you pitch it like this is a great place to live they will certainly figure out the advantages of investing there.

Further,  “Do Not Show Them The Actual Site Before Explaining The Project ”  many a times buyers comes after doing their homework they thoroughly read the brochure, company profile and other project related information. If you give a site visit instantly you might end up explaining the whole project on your way and still won’t be able to satisfy them as they will expect it to be as good as the brochure but, when you explain the project in your office “Before site visit” you will be in a better position to justify that the project will look like the brochure once its completed and other things such as locality, roads, amenities will get better in due course of time.

To sum up we can say that selling a real estate project is similar to selling any other product but the amount of risk, investment and waiting is very high so it must be projected more strategically addressing each digital touch point where you can find your target customer. Never overdo what is discussed in this post sometimes less is more in real estate.