3 mins | Trends | 27 September 2021

How Technology Has Compelled The Real Estate Sector To Hit The ‘REFRESH’ Button

There was a time not too long ago, when the words ‘technology’ and ‘real estate’ did not get along. The world of builders and developers did not embrace technology as fervently as other sectors and services did and this has changed drastically during the pandemic years.

A brick-and-mortar business

When people decide to buy homes, they want the touch and feel experience. They want to be at the actual site location and see the construction progress in person. They want real time, face to face interaction with executives to clarify doubts. Overall, in real estate, seeing is the ultimate level of belief. So, the industry operated to address these requirements. Until now.

Time for a revamp!

Of course, the importance of physical visits has not and will never diminish or completely go away. Physical visits and interactions will score high, but the various alternative solutions will go hand-in hand with them. Below we enumerate some of these changes.

It’s never stressful when it’s virtual

As people were stuck indoors, actual site visits dipped. In its place, virtual tours got popular to help potential buyers get a sense of what to expect before an actual visit. This has been a real boon in these tough times for both buyers and sellers. For instance, if you were to pick an apartment in our under-construction project, Sky City by Oberoi Realty, you can explore the entire project through our virtual tour and get details such as the location, social amenities, 360 degree views, interiors of the show apartment and connectivity.

Swiftly and surely

The adoption of technology has resulted in the reduction of time spent in administrative work. Not only does this make work more efficient it means better response time for customers. Oberoi Realty was one of the first in real estate to genuinely institutionalize world’s leading ERP system from SAP. This helped in streamlining internal processes, achieve integrated data flows and thereby improve operational efficiencies, cost management and controls.

Spell marketing with an ‘E’

Most of our buyers are already profoundly connected with technology in their everyday lives. So, reaching out to them and providing them with collaterals via websites, social media and messaging apps have become easy now. Buyers are receptive to E-brochures, they check site progress online, download and analyse site plans, explore 360 experience and virtual tour of the show apartment of the project . In many instances, buyers do all this on their own and then opt to register / buy online directly from the website.

It's always sunny when it’s smart.

Within the industry, the use of AI, robotics and proptech solutions is picking up pace and will revolutionise how the realty sector works and responds to the challenges of the times. Over time, it will make work more efficient and customer service more seamless resulting to be a win-win for all. At Oberoi Realty, we have also implemented an AI based chatbot to respond to customer queries.

Our Vision - “Technology company that does real estate”

At Oberoi Realty, we’re committed to the adoption of technology for providing better services. We are using some of the best industry software like SAP for Accounting, Salesforce for Sales and Marketing, Cloudstrike for IT security, BIM models and Autodesk for Architecture & Engineering, Customer Relationship Management and Primavera for Project Management, scheduling, resource management for construction and risk analysis. This has helped us to monitor the project progress, offer real time solutions, risk management, cost analysis and manage resource efficiently. Now, homebuyers can also explore our projects on WhatsApp.

Mr. Pankaj Pandit, Chief Information Officer, Oberoi Realty Ltd.,

“The Indian real estate industry has undergone a major transformation in recent years wherein a customer centric approach is the key to product design, delivery, sales, customer experience and hence to the company’s overall success. At Oberoi Realty, we regard ‘Technology’ as the most important lever to grow, improve efficiency and provide superior customer experience. Therefore, we have consistently invested in ‘best of the breed’  technology platforms those enable us to meet our business goals, expand seamlessly and offer upgraded customer experience in a secured manner”.

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