Change is something every business must adapt to, and the real estate sector is no exception. Especially now that Thailand is entering the Digital Age, technology is influencing our lives more than we realize. We all wake up and immediately check our smartphones for news online, and even ordering food or making restaurant reservations can be done conveniently through our devices. These changes have altered consumer behavior, prompting businesses to adapt to meet consumer needs. The real estate industry, often perceived as less exciting than other sectors, must rethink its marketing strategies beyond just organizing events or putting up billboards. Today, major players in real estate are already adapting to the Digital Age. For instance, 'Ananda' has established itself as the first Tech Company in the industry by launching Ananda Urban Tech to seek new innovations and invest in global innovation funds. Similarly, 'Sansiri' has partnered with 'SCB' to create Siri Venture, focusing on research and investment to develop new innovations in Property Technology. Even the use of Virtual 360 booths for showcasing model units is an innovation within the real estate sector.

         All of the above can be collectively referred to as Property Technology or Prop Tech, which utilizes digital tools to facilitate the property buying process, making it easier for consumers to choose, live in, and communicate with projects. In the future, traditional marketing methods will begin to fade away. Billboards that are merely visible but fail to convey messages will gradually disappear as people spend less time consuming information. The advent of Digital will simplify property purchases, but many aspects must be adjusted according to changing consumer behaviors. HINT will explain how Digital assists in each step of the buying process all the way to moving in.


         1. Searching for Information and Comparing Projects
         - 48% of Thais search for information online before making a purchase. Statistics show that 48% of Thais look for information online before visiting a property in person, unlike in the past when customers would go directly to stores. Previously, customers would visit projects or stop by if they drove past. Nowadays, customers research online before visiting a project, meaning when they arrive, they are already somewhat informed. Therefore, it’s essential to determine which media to focus on when providing information to customers.
         - Bloggers/Influencers help close sales more easily. Besides searching for information on various websites, another crucial source is bloggers and influencers who play a significant role in assisting customers' purchasing decisions. These are often seen in the form of reviews, project visits, and analyses that help customers make easier purchasing decisions. Nowadays, people trust information from third parties more than from the projects themselves. Reading reviews reinforces their confidence in whether to buy or not.
         - 360 Virtual Tours/Virtual Reality: The new toy in real estate. At this moment, who doesn’t know about the new digital toy, 360 VR, which has been perfectly integrated into the real estate sector? It allows potential buyers to visit projects or model units without having to be physically present. With just one VR camera, they can see almost every angle of the project or model unit. This technology provides convenience for buyers who may not have time to visit in person, shortening their decision-making time.

         2. Decision Making

         - The era of making phone calls to schedule project visits is over. From now on, scheduling visits no longer requires phone calls that waste time or incur phone charges. Many projects have started using applications or websites for scheduling visits, benefiting both the project side, which can allocate time accurately, and customers, who no longer have to waste time calling. This resolves issues like busy lines, unreachable calls, or no one answering after work hours.
         - Reserve your property from home. If you decide to reserve a property you viewed previously, you no longer need to drive to the project. Simply open the application, Facebook, or the website, enter the plot number or unit number you’re interested in, and make an online reservation payment. This saves travel time to the project. The first to initiate “shop-reserve-pay online” was 'Pruksa', which has been using this innovation for the past five years, and now some developers are adopting this method to provide more convenience to buyers.
         - No more waiting in bank lines. It’s now common to make online payments through applications, which greatly facilitates buyers. This eliminates issues like crowded banks, early closures, or difficulties finding ATMs. Additionally, those looking to check their preliminary borrowing capacity can now fill out information on bank websites to check their loan eligibility and calculate interest and installment amounts without needing to visit the bank or wait in long lines or transfer calls multiple times.

         3. After Moving In

         - Easier communication with property management and residents. Many projects are now launching applications to notify residents of news, allowing for more comprehensive communication or a direct messaging channel to the management, saving time for both parties.
         - Online repair requests. Many projects often face issues with repair requests after moving in, such as technicians not showing up, calls going unanswered, or scheduling conflicts. This has led many real estate projects to adopt online repair requests to better manage technician schedules according to the work needed.
         - Live like Iron Man in a smart home. Another innovation that makes it feel like you have J.A.R.V.I.S. in your home is the Smart Home system, which allows you to control home appliances with just a touch and your smartphone. Whether it’s turning on/off water, lights, or automatically adjusting air conditioning temperatures, or even having appliances communicate with you via chat—like asking the fridge how many beers are left, instructing the vacuum cleaner to clean while you’re away, or having the TV ask if you want to turn it off when you’re not home. This is the ultimate innovation from LG HomeChat.

          The technology in the Digital Age has much more to offer, playing a significant role for both developers and customers. It will facilitate solutions to problems that manual processes cannot address and, in the long run, help save costs in some areas. HINT believes that from now on, sales strategies in real estate will begin to change. We will need to keep an eye on what tricks each developer will bring to add color to the real estate market. Considering Thailand's readiness as it steps into the digital era, it is evident that the country is experiencing rapid growth. When compared to other countries in the Asia Pacific, Thailand has consistently ranked in the Top 5. Generally, we measure digital readiness in two aspects: Average Connection Speed and Broadband Adoption, where Thailand ranks in the Top 10 globally and Top 5 in the Asia Pacific.

Thank you for the information from: HINT MAGAZINE