For a long time it was said that the German real estate industry was lagging behind digitization. Since the coronavirus has paralyzed society in many ways, a trend can be seen in the real estate industry: Digital marketing is becoming more popular.
The current situation requires that adjustments be made in almost all areas of life. Everyone feels the effects – in both their private daily routine and their everyday work. The corona pandemic has also changed a lot for the real estate industry. While the real estate bubble has not yet burst, the influence of corona has so far been largely felt in marketing. Official contact restrictions, strict travel requirements, and perhaps personal concerns from buyers and sellers have put a stop to classic tours in many cases. However, this also presents an opportunity – namely, to rethink the process of real estate marketing, to position oneself in a future-oriented manner, and to work more digitally. There was a boom in virtual tours. For all parties – brokers, sellers, and buyers – there are positive side effects here.
Digital real estate marketing offers many advantages. The possibilities include virtual tours of existing properties or photo-realistic renderings of objects that are still under construction. In the latter case, a realistic 3D visualization can extremely shorten the buying process. Many potential buyers can hardly imagine a few sketches and floor plans. Even if one’s imagination is sufficient to arouse real interest in buying based on a floor plan, ultimately it is more photorealistic, emotion-triggering images that reliably create buying incentives. Digital real estate marketing is also an efficient tool for existing properties. By offering virtual tours, the real estate agent can meet a much higher demand than if he had to appear in person for every viewing. Visits that lead nowhere are also more manageable in terms of time. The fluctuation in visits, such as increased appointment requests on Mondays or at certain times, can also be more easily absorbed by the broker. The seller also benefits from this efficient handling of viewing appointments, as the sale of his property is made much easier. Plus, the buyer can do many viewings in the shortest possible time, without time-consuming appointments that are often difficult to combine with everyday life and one’s employer. For real estate agents, web analytics tools represent a reliable means of evaluating virtual tours – a completely new way of separating the wheat from the chaff, or sightseeing tourism from real prospects. Conclusion: For everyone involved, virtual tours get there faster. With so many advantages, some people wonder why the German real estate industry didn't rely more on digital real estate marketing in the past. This could be due, for example, to the broker's concerns that personal customer contact is an essential part of marketing. This argument cannot be dismissed out of hand, but there are solutions. For example, it is possible to take virtual tours together with potential buyers.
When it comes to internet presence, many real estate agencies may feel the pressure to change due to the current situation. While customer contact and personal conversation have lessened, many a potential buyer will be more proactive in terms of research. Whoever swims in the flow of time wins the race. Webinars and support chats are just two examples of ways you can score points with digital customer service – and not just in the current situation. Digital marketing offers countless possibilities here. Professional white papers covering the latest industry issues and video marketing are great ways to make a good impression online. Also, digital processes can improve the bureaucracy: Some real estate agencies, for example, already rely on digital rental agreements.