When the pandemic hit, real estate also became one of the worst-hit sectors. With real estate sales seeing a surge of 51% in Q4 of 2020 (as compared to Q3, 2020), 2021 is the year when India enters a new phase of real estate growth, innovation, and investment.
“The year 2021 will not throw off all the challenges of a pandemic-punched real estate economy but will set down the groundwork for its recovery.”
In the real estate industry, another trend emerged with homebuyers looking to complete their home purchase process online – from start to finish, from inquiry to buying.
In this article, we will be focusing on the different stages of the home buyer’s journey.
Stage 0: Dormancy
The first stage of a customer lifecycle dormancy is where customers form an opinion about your offerings.
Dormancy is where the potential customer remains inactive and passively consumes information by browsing online, listening to peers, and subconsciously absorbing advertisements around.
Stage 1: Awareness
When a home buyer starts considering buying a property, he/she arrives at the awareness stage. They will start discerning the various options around them.
At this stage, digital marketing is the go-to method for reaching out to potential customers.
Stage 2: Active Search
At this stage, the prospect hasn’t entered the sales funnel, but he /she might be already aware of the projects and more.
Right now, they are focusing on their financial health and the current market trends. Their prime consideration is finance options, best time, and investment returns.
Stage 3: Educated
The buyer has advanced to stage 3 and is acquainted with your offerings.
They have entered into a comparison mindset to search for the ideal deal: a property whose selection is dependent on their checklist.
Stage 4: Experience
This is the second last stage of your sales funnel, which is what makes it the most delicate.
The prospect now wants to experience the property. The cementing of the deal is dependent on their site visit experience and in-person discussions.
Stage 5: Purchase
The final stage is all about signing the sales and post-sales activities. The buyer is looking for a simple and synced sales process.
The bottom line:
As you have now got a sense of how a home buyer’s journey progresses, you can now plan how to elevate the customer experience at every stage.
RealE 360 is an automated real estate CRM that automates the pre-sales, sales, post-sales workflows and helps to provide a human touch to each customer interaction.
Connect with us today to map a seamless home buyer journey.