During COVID-19, VN real estate markets gather online

ABO/VNA - Realtors have been trying to sell products online and through mobile apps.

After Covid-19 broke out, online sales became a growing tendency. Online sales were applied in the real estate sector as a solution to improve the capability of approaching clients, diversify distribution channels and reduce intermediary costs.

Vinhomes, for example, launched an online sale platform with the slogan ‘Stay home – Buy home’.
The platform, utilizing high technology, connects realtors and customers through a 4-step procedure. It provides more information about locations, area development planning and documents of the projects on sale, as well as promotional policies.

Gamuda Land has also set up its online business division. Not only serving as an ad tool, it is also an information system that connects the company and the sale system, ensuring quick interactions with the capability to satisfy thousands of visits at the same time.

Covid-19 has affected the way of housing product sale. Sunshine Group is known as one of the pioneers in applying high technology in the sale management.

The realtor has introduced Sunshine App, an app on the basis of smartphones which provides sufficient information about projects and provides online loans to house buyers.
The emergence of the online distribution channel during the social distancing days in Covid-19 has raised questions. Will it continue to exist in the post-Covid-19 period? Will it be a new trend in the real estate market? Will real estate brokers still exist?

Pham Lam, CEO of DKRA, said developing online sale channel and boosting sales on mobile apps is tendency in the era when technologies are applied in all business fields.
The online channels not only boost sales but also build a service ecosystem for residents of large project developers with hundreds of thousand of users.
“The strategy on developing online channels and apps will help improve the competitiveness of project developers,” he commented.
As for clients, they can take initiative in accessing official information from realtors, while not having to go through intermediaries. They can also effectively exploit the preferential policies offered by realtors.
Developing more distribution channels is indispensable for real estate firms when the conditions in the market are not favorable.
DKRA Vietnam reported that only seven projects in HCM City were open for sale in Q1 which provided 1,547 apartments, a sharp fall of 70 percent compared with Q4 2019. Meanwhile, the consumption rate was 74 percent only (1,146 products), a decrease of 74 percent.
This was the quarter with the lowest supply and consumption level since 2015.

Mai Lan (Source: VNA)