Social Media Could Help You Buy A Home

There is no limit to the number of real estate groups, handles, listings and discussions on social media channels. No business these days can survive without having its presence on social media. Twitter has become a tool for instant redressal. A smartly worded 140 character Tweet can lead to an unprecedented outrage on social media, severely denting a company's standing and brand image. While social media has for long meant a platform for play and leisure, today it has given voice to anyone who wants to make a point.

For sellers- Pocket-friendly marketing

Your product will sell only if it is visible and marketing assures such visibility. Most firms reserve about 20-25 per cent of their capital for marketing alone and social media is fast becoming the focus area of all promotion campaigns. As per a research, over two billion users globally use social media and the best way to reach them is to be on the same page as them. By creating a social media profile, sellers can identify themselves as accessible and acceptable. It also lets you track your competition and you can disburse information easily and effectively and also track the metrics and rate yourself based on your reach and response.

For buyers

Easy Research: One of the most crucial decisions we take in life is to buy a property. Going online to research about the developer and project of your choice means that you get to network with an entire community of prospective buyers who share your choice of a home. You can ask for reviews, check on the track record of the developer, know whether a particular project has been a subject of any kind of litigation etc.

Transparency: When it is out in the open, it is usually taken to be clear cut and clean. Developers with a clear track record prefer to keep buyers updated with easy to access updates about the progress of construction, documents that support the legality of the project etc.

Network: It is a good practice to get a 360-degree feedback about a project you are going to invest in. For example, if you are looking at resale projects, these already have an established social infrastructure and there are settlers in the neighbourhood as well. Many realty portals are open to the idea of discussion forums where you can confirm about the neighbourbood infrastructural issues and others. This will help you decide whether you actually want to go in for a certain property.

News and views: Most real estate companies have started off with their own blogs that are very popular online. These not only interest the buyers but also add to the credibility of the company. You can make decisions based on the many articles that run on these platforms. However, do not follow everything blindly. Use your own research and discretion to help you sail through.

Caution: Since most of these platforms are free for use, a whole lot of opinions pour in. Some may even be biased. It is up to you to decide how much you can assimilate or overlook. While selecting a property, do it because it suits you and your budget and not because someone else feels it is fit for you and your family.

A joint study by Google and National Association of Realtors, North America found that 90 per cent of home buyers search online during the process of buying a home while agents bridge the gap between viewing these properties and actually buying them. In the last 4 years, searches on Google have gone up by 253 per cent! Online reviews and YouTube are immensely popular among prospective buyers. Can India be far behind?

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