Five strategies for developers to deal with unsold apartments

Real estate developers often find it challenging to sell off the apartments. In recent years, a number of economic reforms have been undertaken by the government. The property developer in India faces a number of hurdles in selling off the apartments today. One of these reasons is the high price of the apartments. The lack of infrastructure around these projects is one of the other reasons for unsold apartments. The economic shutdown after demonetization created an unfavourable condition for business in the real estate sector. The condition of Real Estate India is recovering, and the developers are adopting various strategies to deal with the unsold apartments.

Eliminating cash flow issues through inventory management

The inventory takes 2-4 years before it reaches the completion stage. Evidently, the developers need to bear the inventory costs during this period. This creates a stress on the cash flow in course of time. Today, the developers can reach out to financial institutes to get the necessary funds against the completed projects. They also seek Private Equity Funds for the purpose. This can help them in buying unsold apartments, selling them, and completing the projects in time.

Buyer’s perspective

Homeowners looking forward to buy apartments in India look out for customized homes. The developers assess the needs of the buyers and develop the apartments. This enables them to sell off the properties in quick time. However, the developers need to make more investments in developing customized apartments. They need to plan the cash flow for 2-3 years while the development is underway. Besides, they need to convey the benefits of these homes to the buyers. The developers are coming up with schemes like delivering semi-furnished and furnished apartments to the customers.

Reinvesting in the marketing plan

 The real estate market in India is competitive and several factors come into play for the marketing plans to succeed. The marketing plans need to be revised, encompassing issues that influence the selling strategy. The developers need qualified manpower to deal with the marketing of their projects. It is necessary to tap the right customers in order to sell the apartments. The real estate developers are coming up with innovative marketing strategies to reach out to their customers with the projects. Besides, the Real Estate Institutional channel partner also plays a key role in marketing the projects.

Presence on social media

The presence on social media greatly influences the marketing of real estate properties. All the developers need powerful social media marketing strategies to live up to the competition. The ongoing projects in India are being advertised on the social media channels so that they have a wider reach to the customers. A large section of the potential customers is on social media platforms. Therefore, choosing these channels for marketing makes it easy to sell off the apartments.

Stay ahead of real estate websites

 The customers find it easy to choose the apartments as a result of the proliferation of the real estate portals. However, individual developers need to come up with unique strategies to live up to this competition. They need to stay ahead in the real estate portals and showcase their unique features to the buyers.

Evidently, these strategies enable the developers to sell off the unsold apartments.