Realty market embraces digital technology
Sunshine Group launched the house-selling app in January (Photo: cafef.vn)
“The application of technology in the real estate sector is forecast to be a prominent trend in 2020 and in the future,” said Pham Kim Xuan, a representative from realty research firm Jones Lang Lasalle Vietnam (JLL).
Xuan said restricted travel during the pandemic had made it difficult for traditional site inspections and direct meetings, however, demand for land still increased.
To support the demand, more and more online platforms and realty apps have popped up, offering virtual tours and online webinars so customers can experience products from a distance.
According to technology experts, tech trends have helped real estate brokers approach customers, using big data to help brokers analyse the habits, preferences, predict the wishes of customers. From there, the target audience can be selected to have suitable approaches to make advertising more effective.
Pham Ngoc Thien Thanh, manager of market research and development consulting for CBRE Vietnam, said: “The Industry 4.0 is a global trend that helps the real estate market and other industries be developed in a more comprehensive and efficient manner.”
With the VinID app, Vingroup attracted a number of customers to transact real estate and make online payments without any physical contact.
Other realty firms such as LinkHouse Company or Khai Hoan Land also developed house selling apps while realty brokerage sites such as youhomes.vn and batdongsan.com.vn developed special apps to attract buyers.
Nguyen Van Dinh, vice chairman of the Vietnam Association of Realtors, said technology was changing very fast, forcing firms to be ready to adapt.
“Marketing teams of realty firms need to be creative and constantly update trends to have the best strategies to serve the customers to win the digital race," he said.
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