Realty Sector Needs Technology To Boost Uptake

Software as a service is now the key tool for developers to reduce unsold housing inventory, suggests Sunil Mishra, Head (Strategy), ANAROCK Group and CEO, TRESPECT Property Consultants

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Sunil Mishra

Head (Strategy), ANAROCK Group CEO, TRESPECT Property Consultants

In view of the pandemic, real estate developers in India are suddenly faced with the need to rapidly adopt technology to get property sales going. ANAROCK Group’s research indicates that while homebuyer enquiries have increased by more than 50 per cent post the nationwide lockdowns, a large part of these enquiries are generated online. This is unlikely to change soon – though homebuyers are back on the market, social distancing and overall safety concerns are still very much in place. A lot of the property discovery journey has now gone online, and developers who do not use technology to harness and convert online inquiries are at a disadvantage. Fortunately, like many other functions these days, the technology and professional support they need can be outsourced to specialists. Enter Software as a Service, or SaaS.

SaaS and Real Estate

Customer relationship management software SaaS is the key for real estate companies who want to leverage advanced software technology to drive their business. Previously, Indian real estate developers seeking a technology advantage in their business had to rely on mainstream software players who don’t understand completely the specific requirements of the Indian real estate business. Today, they have the option of an integrated customer relationship management (CRM) delivered through Software as a Service solution – or SaaS, as it is now commonly referred to – created and managed by technology-driven real estate consultancies.