The Changing Dynamics of Brand Image in Indian Realty

Moving away from a situation where clients needed to barter their deals with mostly disorganised companies against the background of an unregulated environment,

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The changing dynamics of brand image in Indian realty
The changing dynamics of brand image in Indian realty

Moving away from a situation where clients needed to barter their deals with mostly disorganised companies against the background of an unregulated environment, the situation is now set to change as most contractors are taking up brand-building as a serious task.

With contractors progressively acknowledging the need to have a strong product value and improve customers’ overall experience, clients could now look forward to good high quality of development, inner and exterior facilities, service management solutions and post-possession solutions, among other things.

On the other hand, developers believe that brand-building will help them produce better costs from the market participants, given the increasing interest from private equity funds, disorganised companies considering joint development contracts and REITs (real estate investment trusts) being relaunched.

See also: Senior Citizen Housing Projects: Emerging Trend in India

INGREDIENTS OF A REAL ESTATE BRAND

A developer while developing a product name will create his existence experienced at real estate events such as estate events, and will regularly offer new tasks to clients here. These will be promoted in leading journals and eye-catching hoardings. With recurring visibility, a product name gets strongly inserted in the purchasers’ thoughts. A branded producer’s trademark you know in the careful choice of location, excellent facilities and quality

A branded developer is a trend-setter in the property industry – in other words, the prices he expenses in his tasks will often decide the prices that other tasks of similar options in the same area will charge.

POTENTIAL DOWNSIDE OF BRANDING

Generally speaking, brand-building is a real and beneficial exercise that earnings both the developer and his clients. However, it should be observed that popularity and reputation carry with them a problem of liability towards all involved. It is easy for a developer whose name commands regard to develop complacently and gradually allow his company’s requirements to drain.

Branding and products goes in two opposite directions. As long just as real estate organizations are considering with regards to “projects” and “developments” the real estate marketing procedure cannot reach its full prospective with regards to value development. Therefore, when organizations realize that they are not only developing flats, cottages, homes, workplaces, shopping facilities and leisurely facilities but “communities” and “lifestyle” in general, the change in considering and in business will start occurring.

An idea like “community concept” will give a bigger part to the link between brand and clients. This will project the brand role and connection through time and create the development and transfer of value a lifetime process. Property businesses that are promoting homes and flats are promoting bricks and mortar, while those who are marketing lifestyle are actually developing connection and value.

The Bottom Line

Real estate marketing requires tolerance. If there’s one universal piece suggestion we heard, it’s that you should never settle on a brand you aren’t behind 100%. By persevering, you’ll find the perfect real estate brand that attracts in clients and determines trust. At least one agency told us that since their re-design, they’ve had more brings than they can handle.

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