The Internet explosion is in full swing in the Philippines, which has spilled over to real estate.
In this post for Lamudi Philippines’ Q&A series, we list ways how real estate platforms can help homebuyers find their dream home, and how they can make a huge difference to the marketing efforts of brokers, sellers, and developers.
Q: How Can Online Real Estate Portals Help Sellers, Brokers, Developers, and Homebuyers?
A: The Internet is quickly gaining a greater foothold in the Philippine economy. E-commerce sites are now ubiquitous, and Filipinos are discovering the delight (and convenience) of getting everything online—from booking airline tickets and hotel rooms to buying shoes, clothes, and gadgets.
Although the number of Internet users in the Philippines is still low at 37 million, this has jumped a staggering 531 percent in the last five years. We can expect this number to grow further, which presents a huge opportunity for marketers involved in real estate.
Therefore, if you are a licensed real estate broker, a property developer, an individual seller, or even a homebuyer, the importance of using online real estate listing platforms cannot be overemphasized.
In this post for Lamudi Philippines’ Q&A series, we list down these benefits.
For Brokers, Developers, and Sellers
Online platforms cost a fraction of advertising spend on mainstream and traditional media. In fact, a full-page, full-color advertisement in a major daily can set one you back up to Php400,000, and you cannot even measure its performance.
Advertising in real estate platforms, on the other hand, is cheaper and even let you see the performance of your listings (page views, number of leads generated, etc.). This will enable you to calculate the conversion rate and the return of your investment.
In addition, since the majority of homebuyers now start their home search online, there is a better chance for brokers, sellers, and developers to get discovered online.
For Homebuyers
Before the advent of the Internet, the only way to find homes for sale was to drive around and look for “for-sale” signs, or engage a real estate broker and let him or her do the looking for you. This is not only inefficient—it also runs the risk of not seeing everything that’s available.
With real estate platforms, buyers can check every available property listing out there before deciding to get in touch with a broker. This narrows down the search to only the properties that meet your requirements, saving a lot of time for both your and the broker.
For Both
Unlike traditional media, real estate websites are not burdened by space restriction. This will enable brokers, sellers, and developers to be as creative and comprehensive with your property listings as possible. They can upload unlimited number of photos, write longer and more detailed descriptions, and some even offer videos or 360 photography tours, which make the content more engaging.
This results in better user experience for homebuyers. They can get as much information about a property as possible, informing their decision before they inquire. This saves a lot of time for them and also for sellers.
Indeed, real estate platforms are becoming a centralized marketplace for everything real estate. In this virtual space sellers can advertise their wares and buyers choose from them, making house-hunting faster and more efficient.
Do you have question about property to buy or to rent? Send us an email or tweet Lamudi Philippines using the hashtag #AskLamudi
