A cloud-based, integrated sales management & customer engagement platform for the real estate industry.
The real estate sector has been affected by the Covid-19 pandemic in unprecedented ways. There is huge unsold inventory, consumer confidence is at an all-time low and builders are facing a financial crisis. On the brighter side, the pandemic-induced situation has pushed both builders and buyers to move towards online buying, say Vivek Talghatti and Gautam Bankar, the two co-founders at PropTech platform Prop.vu. By partnering with builders (large and small), land and villa developers, it has facilitated more than 100,000 virtual visits across more than 150 projects, showcasing over 50 million sq.ft. of real estate on its platform.
Prop.vu is a cloud-based, integrated sales management and customer engagement platform for the real estate industry. In this era of online shopping, the real estate vertical has somewhat lagged behind in accepting and satiating this preference. The reason is the large ticket size of the product, the buying potential of the average consumer limiting this experience to once or twice in a lifetime and non-movable nature of the product. A consumer needs to “touch and feel” the product and hence the need for a site visit.
“While there are many online listing portals and digital marketing methods available to the builder/developer today to list and reach out to such a consumer-base, the most that they do is provide offline information to these buyers,” says Bankar. “We provide a true online experience and interaction for real estate products, which can be made available by the builder directly for the consumer.”
According to him, a true online experience is provided when the user, at her/his convenience, can explore all details of the product which contribute to bridging the divide between requirement and fulfillment. To deliver this information in real-time and keep it affordable to builders, it should have a ‘Do-it-yourself’ capability for the sales and marketing team to update such information quickly; utilise the existing digital assets to be presented in a more contextual and meaningful way; present the best of the offers from time-to-time to generate interest in buyers’ minds; and provide a very easy way to book this product online without risk and fear.
“Prop.vu provides a platform for all this,” says Talghatti. “It enables builders and developers to provide information on location to product availability, offers available to pricing, development status to update site images, financing options, etc. This information is presented in a contextual and logical manner, delivering an experience which facilitates decision-making.”
Put simply, Prop.vu provides facilities like virtual site visit, geo-located amenities and galleries, Google Maps integrated layouts, digital customer engagement, and end-to-end sales management platform to the real estate sector. Among its clients are Sobha, Panchshil Realty, Panvelkar Group, Kakkad Group, Sanskruti Landmark, Space Group, etc.
Going forward, Prop.vu is determined to provide (on its platform) information and analytics to builders about consumer behaviour and trends for their product strategy. A B2C platform to connect customers directly to the builders and developers, is also in the pipeline.