For service providers in the proptech and real estate segments, marketing their offerings has become a digital process with traditional outdoor marketing campaigns and tools taking a backseat in most regions. Changing trends in the way consumers seek out products and services has given rise to a whole new segment of digital marketing tools and techniques to influence their preference and buying decisions. The real estate industry too is not spared of it and has seen a drastic shift in the marketing services for properties and other real estate related products and services.
The web is among the top places potential property buyers or renters turn to when they decide to buy or lease a property. Realtors are ensuring that an excellent online visibility is maintained through a number of digital marketing tactics and email marketing strategies is just the tip of the digitized real estate marketing segment. Real estate brokering services are getting augmented with the help of artificial intelligence, VR, and aerial imaging. VR enabled property viewing can be reckoned as one of the most significant real estate technologies to have modernized the traditional realty business. Technologies like VR is making it easier to market the properties to even clients across states and international borders blurring the boundaries between different consumers and property markets.
The growth of the proptech Big Data & Analytics segment has also sped up the digitization of real estate marketing. Innovations based on Big Data & analytics have made data governance and related aspects an important part of several functionalities within proptech. Globally, Big Data has become a fueling factor for proptech and is serving by aiding in the completion of several tasks as well as enhancing decision making processes. Big Data and analytics related services and products is a strong segment of its own and also finds its way into the other segments within proptech. Data has become the fuel that is helping realty companies create effective communications with existing and potential customers. Past property transactions, preferences, time spent at a particular property, and investment patterns are just some of the insights from data that can help startups in driving sales.
The real estate marketing services is a part of a larger proptech products and services marketplace which has got $7.2 billion in investments between 2005 and 2018. Online property listing portals and other real estate marketplaces with AI-driven virtual assistants are not uncommon, helping companies go the extra mile when it comes to serving potential and existing customers.