{"id":540,"date":"2024-05-30T14:13:13","date_gmt":"2024-05-30T14:13:13","guid":{"rendered":"https:\/\/vidwaan.simapt.com\/cxo-blog\/?p=540"},"modified":"2024-06-05T10:45:41","modified_gmt":"2024-06-05T10:45:41","slug":"musts-for-realty-sector-in-crisis","status":"publish","type":"post","link":"https:\/\/vidwaan.simapt.com\/cxo-blog\/musts-for-realty-sector-in-crisis\/","title":{"rendered":"Musts For Realty Sector In Crisis"},"content":{"rendered":"\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-1 wp-block-group-is-layout-flex\">\n<p>Author: Samujjwal Ghosh<gwmw style=\"display:none;\"><\/gwmw><\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-linkedin  wp-block-social-link\"><a href=\"https:\/\/www.linkedin.com\/in\/samujjwal-ghosh-51936159\/\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">LinkedIn<\/span><\/a><\/li><\/ul>\n<\/div>\n\n\n<div class=\"wp-block-post-date\"><time datetime=\"2024-05-30T14:13:13+00:00\"><a href=\"https:\/\/vidwaan.simapt.com\/cxo-blog\/musts-for-realty-sector-in-crisis\/\">May 30, 2024<\/a><\/time><\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>The fluctuating impact of COVID-19 on global realty is yet to be fathomed. Due to the overarching uncertainty and sales reaching a standstill, the industry is going through a lot of unprecedented turmoil. Stepping out of the lockdown to continue business operations would require a sincere and robust coping strategy. It will be prudent to admit; that work from home and stay at home are two operating maxims which will need massive assistance from real estate brands in these areas. Brands and businesses which are talking to consumers now, must make sure that you are useful to them and simplifying their lives.<gwmw style=\"display:none;\"><\/gwmw><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Customer Centricity<\/h3>\n\n\n\n<ol>\n<li>Every customer saved now for you is customer earned \u2013 Zero customer loss policies must be unleashed.<\/li>\n\n\n\n<li>Every interaction with consumers must be planed and every interaction needs to focus on cementing the relationship with the customer<\/li>\n\n\n\n<li>Developers must address customers\u2019 predilections and choices. The customer, financial institution and developer need to work together to ensure that willingness and ability to buy a home is bridged with agility and responsiveness<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Organization<gwmw style=\"display:none;\"><\/gwmw><\/h3>\n\n\n\n<ol>\n<li>Very high level of engagement to larger teams is required. Teams with stronger management will have better results<\/li>\n\n\n\n<li>The importance of high-quality management cannot be stressed enough. Through comprehensive networking and communication, management teams can emerge triumphant or relatively less affected through any crisis.<\/li>\n\n\n\n<li>Focus on Innovation \u2013The lockdown period can also act as a blessing in disguise, as it provides ample time for the real estate sector to innovate as per the changing landscape disruptions. Put together task force teams to drive the innovation agenda; such times will give us the time to think and create<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Product<\/h3>\n\n\n\n<ol>\n<li>For existing product, developmental, marketing and product teams should identify opportunities for value engineering, identify time critical features and reduce delays as much as possible<\/li>\n\n\n\n<li>Rethink on New projects product development adopting current crisis \u2013 gate management, security management, space for personal gym\/ office inside the house, etc.\u00a0<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Marketing, Brand &amp; Communication<\/h3>\n\n\n\n<ol>\n<li>Sales will be digitally enabled rather than digital<\/li>\n\n\n\n<li>Relationship based, consultative and simulative marketing will induce belief in consumers<\/li>\n\n\n\n<li>Communication \u2013 People will want to know HOW are you going to do it as much as WHAT you are going to do<\/li>\n\n\n\n<li>Formula for Go-To-Market in next 2 months: Whatever you were planning now plan for 1\/4<sup>th<\/sup> of the delivery with 4 times the effort<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Pricing &amp; Payment Schedules &nbsp;<\/h3>\n\n\n\n<ol>\n<li>Question out for yourself \u2013 If you reduce prices \u2013 will it help move volumes and will you be profitable \u2013 If answer is No \u2013 Do not waste time thinking on price reduction.<\/li>\n\n\n\n<li>Plan pricing scenarios \u2013 take conscious calls on existing customers and new customers.<\/li>\n\n\n\n<li>Philosophy \u2013 If there is a rupee you want to give to the customer, give it up front and sell at MRP. Negotiations and differential pricing should be things of past.\u00a0<\/li>\n<\/ol>\n\n\n\n<p>Creating a blueprint for gross level crisis-management is important. While at the same time being flexible with people and teams, staying calm and infusing a positive mood is the key to surviving and thriving in dire straits.\u00a0 The sensible thing is to keep moving and create continuous displacement across all spheres of business. While it may sound clich\u00e9d, this shall also pass, but truly we must overcome this situation and not stand waiting and observing on the sidelines. The time now is to hold tight and work harder. It\u2019s always not necessary that we jump in with bravado and be the cavalry charge but without the real estate businesses smartly re-mobilizing, nothing will ever get achieved, no matter what nature and quantum of relief measures are introduced. So, the industry will have to reset expectation, refocus energies and restart.<gwmw style=\"display:none;\"><\/gwmw><\/p>\n<div class='watch-action'><div class='watch-position align-left'><div class='action-like'><a class='lbg-style1 like-540 jlk' href='javascript:void(0)' data-task='like' data-post_id='540' data-nonce='e0abe6ebb9' rel='nofollow'><img class='wti-pixel' src='https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-content\/plugins\/wti-like-post\/images\/pixel.gif' title='Like' \/><span class='lc-540 lc'>0<\/span><\/a><\/div><div class='action-unlike'><a class='unlbg-style1 unlike-540 jlk' href='javascript:void(0)' data-task='unlike' data-post_id='540' data-nonce='e0abe6ebb9' rel='nofollow'><img class='wti-pixel' src='https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-content\/plugins\/wti-like-post\/images\/pixel.gif' title='Unlike' \/><span class='unlc-540 unlc'>-2<\/span><\/a><\/div> <\/div> <div class='status-540 status align-left'><\/div><\/div><div class='wti-clear'><\/div>","protected":false},"excerpt":{"rendered":"<p>The fluctuating impact of COVID-19 on global realty is yet to be fathomed. Due to the overarching uncertainty and sales reaching a standstill, the industry is going through a lot of unprecedented turmoil. Stepping out of the lockdown to continue business operations would require a sincere and robust coping strategy. It will be prudent to admit; that work from home and stay at home are two operating maxims which will need massive assistance from real estate brands in these areas. Brands and businesses which are talking to consumers now, must make sure that you are useful to them and simplifying their lives.<\/p>\n","protected":false},"author":4,"featured_media":541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[90,48,60,47,10,86,64,88],"_links":{"self":[{"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/posts\/540"}],"collection":[{"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/comments?post=540"}],"version-history":[{"count":2,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/posts\/540\/revisions"}],"predecessor-version":[{"id":979,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/posts\/540\/revisions\/979"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/media\/541"}],"wp:attachment":[{"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/media?parent=540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/categories?post=540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/tags?post=540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}