Social Media has become the new trading platform in the property market, as major players have hooked on to it. Tata Housing, Puravankara Group and Godrej Properties and many more builders are using social networks such as Face book, Twitter and YouTube to market their projects at just about one-tenth of the cost of mass-media marketing.
Today’s buyers who are mostly Smartphone users and NRI’s are using social media to invest in real estate owing, to the recent fall in rupee’s value. According to market reports Tata Housing, for example, was able to sell one-fourth of its La Montana project in Pune through leads generated by a Face book campaign that offered buyers a chance to experience the La Tomatina festival in Spain this August. The firm — which boasts of more than 90,000 Face book fans, a YouTube channel, and active presence on Twitter, LinkedIn, Instagram and Pinterest — said almost 20% of its Innora Park project in Pune was sold through social media.
Bangalore-based Puravankara group, too has plans to significantly increase social media share .The company recently executed a social media campaign, Break free, where the booking amount, pre-EMI, floor-rise and loan processing fees were waived — adding up to . 62 lakh — for people who booked through their social media platforms. Ramesh Thiwani, a well known real estate dealer on social media says, “Social media has grown to around 15% of the marketing mix of realty firms from just about 1-3% three years ago. Many other real estate names are entering social media to also engage into brand building, and employee engagement.
