Value offering a game changer in real estate

The new India of the 21st century as envisaged by the people, Governments and businessmen is a digital India. Globally there has been a tacit understanding and a justified agreement amongst policymakers across the globe that improved governance and policy practices can only be achieved through providing value offering and interconnecting units through big data by digitizing the infrastructure of services delivery across the governance pyramids. This idea of value adding the services through digitizing and improving the consumer experience has in particular drew attention of the services industry where consumer tangibility is high and streamlining can be done by effectively providing value added services to the consumers. Thereby such changes have also been adopted by the real estate industry globally and more recently in India.

As per investopedia value offering or value proposition is a business of marketing statement that a company uses to summarize why a consumer should buy a product or use a service. This statement convinces the potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings. In a layman term value offering is a selling or attraction point to draw towards itself using tactics and strategies that belong to the marketing front. It should be clear and short as to how it would solve a pain point or an aberration while transacting the business. An ideal value offering is concise and appeals to consumers strong decision making drivers.

Off recently this value offering seems to be a possible game changer for the real estate industry as it embarks upon enhancing consumer experience, forces to alter decision logarithms of the consumer and thereby improving the selling points of the product or commodity (real estate in this case) more radically. Recently Viridian RED which is setting up World Trade Centre (WTC) in Gujarat International Finance Tech-City (GIFT) is using this value proposition strategy to attract global businesses to WTCs and thereby focusing more on customer satisfaction rather than sale of real estate. This has provided Viridian RED an upper edge amongst its contemporaries in the International Finance City of Gujarat. On a much similar line, a particular value offering technique has been narrowed down by real estate giant Emaar MGF, which tied up with PayUmoney to provide consumers and its buyers the ease of paying installments digitally and thereby circumventing the red taped procedure of Public Sector Banks in paying such mortgaged recurring installments. This has advertently placed Emaar at a level where it is perceived as more consumer friendly, approachable and relying unit in the real estate industry.

Succumbing to the demand of the consumers, more and more realtors have to embark upon providing value offering services by providing them a value proposition which clears and rectifies glitches created by a pain point in the eyes of a consumer. More prospective models can be similar to Emaar MGF, providing online 3D tours of the property using virtual reality as being used by Supertech for its Lavasa property. Also one can outdo competitors by using the tool of digital marketing and app developing so that real time tangibility with the prospective buyer can be achieved. Hence this is probably not an overstatement to say that such value offering services can be the real deal in the real estate which if embarked upon judiciously can prove to be a shot in the arm for real estate sector altogether.