PLUS Undeterred by COVID-19 Readies Its Buy-Sell-Rent Business for a New Normal
21 Apr 2020
plus news and update
- Releases a full suite of online platforms aimed at real demand clients and enabling purchase from anywhere, in response to social distancing
- Consumer behavior after COVID-19 pandemic expected to shift in many aspects, but downtown condos believed to still garner demand; this is made evident by the fact people still wanted convenience during isolation periods. The online platform is expected to become a New Normal that fits the lifestyle of people in this era.
Plus Property has shifted its buy-sell-rent efforts to accommodate a ‘New Normal’ in an era of social distancing, by utilising technology platforms to support sales affairs through multiple channels. The move was aimed at pleasing present-day clients who are able to make purchase and sell decisions around the clock and even when at home.
The channels being utilised include LINE Official Account, real-time VDO Calling with sales reps, VDO Walk Through, Virtual Room Tour 360° , Electronic Direct Mail (EDM) and a full suite of Social Media platforms. PLUS views that real demand is still present.
It believes that conducting sales affairs through the online platform is able to generate a client experience comparable to in-person visits to development projects, even though the remote viewing is done from home. PLUS also suggests that developers come up with measures in support of real demand buyers so the latter have increased access to residences.
It expects that when the situation returns to normalcy, condos will continue to accommodate consumers’ demand for living convenience, provided that appropriate management and oversight are delivered. It also expects sale affairs facilitated through the online platform will become a New Normal that fits the lifestyle of people in this era.
Ms. Somsakul Limsuttaphan, Deputy Managing Director – Business Development and Asset Management Department at Plus Property Company Limited, the full-service professional property and facility management agency, revealed that the spread of COVID-19 has resulted in lockdowns of cities and social distancing. This has led to significant shifts in the living behavior of people within society.
Plus Property’s units that deal with the firm’s real estate buy-sell-rent business was aware of the said shifts, and have already been revising tactics by increasingly using technology to support sale functions. With the onset of the coronavirus situation, the units have been able to quickly make adjustments and refocus on facilitating convenience for client groups which represent real demand as well as the groups of investors who have retained their capacity.
PLUS worked to enable these client groups to access real estate products from anywhere and at any time, doing away with the need for them to visit the sales office in order to view the display units, which was the conventional practice. The would-be buyers are now able to experience virtual tours of display units and commence reservation, purchase and transfer from home.
PLUS views the sale tactic calling for the use of online platform as a ‘New Normal’ that businesses are now implementing and adjusting to. PLUS itself has employed every platform available in order to remove any limitations that hampered its access to clients. It also facilitates convenience for customers who opt not to visit the property site in person, using the following groups of sale support platforms:
1. Delivering information to clients. One way in which this is achieved is via a LINE Official Account that supplies clients with immediate responses. Through this channel, sales representatives are able to provide real-time information and follow up on queries using the channels specified by each client. Via the Electronic Direct Mail (EDM) platform, emails are used as a sale support medium and are sent in order to publicise development projects and promotional campaigns. Via this platform, clients are able to examine information in detail.
Social Media such as Facebook, Instagram and Twitter are employed and YouTube is also used for public relations and for promoting the sale of development projects. Staff are ready to respond to clients’ questions through all of the said social media channels.
2. Creating virtual experiences. Doing so enables the clients to view the atmosphere at a development project and experience each room type in a way similar to them visiting the real site. Facetime / VDO Call allows the sales representative and the client to engage in real-time conversations.
The sales rep is able to lead the client on a VDO Walk Through, which is created by simulating a walk from the common areas of a condo that leads into the unit on sale. The Virtual Room Tour 360° experience, available through the web browser, simulates a room and enables the client to view the room from different positions.
3. After sales service. The sales team remains committed to assisting customers with additional issues and to coordinating various affairs, even after the closure of sale. For example, a Face Time session with a customer’s feng shui consultant provides the client with a guideline on proper placement of items and room decoration.
Any customer who wanted to reserve, purchase or transfer a property, regardless of whether the property was in Bangkok or other provinces, is able to submit payments and documents online without needing to visit the respective development project.
The sales representative and the sales team will act as the coordinator for affairs related to documents and ensure that all steps are completed, affording the client greater convenience and making owning a house or condo hassle free and safe.
“COVID–19 has produced great effects on the wider economic and caused people to be more careful when spending. Conversely, this also means we are seeing outlandish promotional initiatives and campaigning of the kinds never before seen.
It presents a golden opportunity for people who have access to cold cash; investors, and the would-be buyers from the real demand group who were looking for actual residences. Nonetheless, developers should consider coming up with measures and initiatives that lend support to the purchasing power of this group of people.
An example would be the reduction of expenses that helps to concretely lessen the burden on the clients. This might be a reduction in the mortgage-related expenses or a reduction in installment size, for the first few years; such an initiative would enable this group of clients to become property owners without needing to shoulder expenses in the midst of the present economic downturn.
Looking at the infection figures in Thailand and the fact that many sectors have been providing their cooperation in preventing and restricting the spread of the virus, it could be expected that the outbreak situation will develop in a positive direction, so long as everybody keeps up their effort.
Many parties have questioned how consumer demand and behavior would change after the COVID-19 event comes to pass, especially with regard to the field of real estate. Personally, I view that condominiums situated in locations that offered ease of commute will remain in demand. One development that is very noticeable at the moment is social distancing and the focus on having people remain at home.
Those who live in downtown condos or at properties that offered ease of commute and proximity to malls and food outlets are able to conveniently make their way to shop for commodities at the neighborhood supermarket, and have no need to travel far or stockpile large quantities of goods.
They are also able to order food delivery cheaply. Meanwhile, the juristic entity at the respective condo acts as the facilitator that receives delivered items. Furthermore, the juristic entity filters individuals entering the project premises and provides oversight in the aspect of hygiene. Thus, I view that well-priced condominiums situated in locations with good prospects will still answer to the demands of consumers, even in the era after COVID-19.
Nonetheless, I do believe that a New Normal will take root in many dimensions and the behavior of people in society will change, once the situation dies down and society returns to normalcy. In such manner, the sales initiatives which PLUS had presented through a full roster of online platforms represent yet an evolution that will become another New Normal.
Although the technology has been brought in to augment the purchase experience at a time when social distancing is practiced and when the customers are staying home, the virtual room tour experience is expected to help stimulate purchase decision,” said Somsakul.
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Plus Property is a full-service professional real estate agency that provides comprehensive assistance in reselling/letting properties and the purchasing of second-hand condominium units. With more than 20 years of experience, PLUS’s team of quality professionals manages residential and commercial properties and also manages projects’ sales and marketing, heeding to all types of demand. For additional information about our services, call 02 688 7555, or click here.
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