Ongoing projects or builder’s reputation: What consumers prefer?
One of most persisting questions that has been pestering the members of the real estate fraternity for a long time is that, do consumers seal the deal in those projects which boasts of good quality of construction or those which are on the verge of completion? Well, the answer to this is not that simple since, both the aspects are significant to the customers. As per the proponents of the real estate firm, customers tend to divulge their funds in those projects which display some kind of activity.Projects where the work is in progress, generates confidence among the potential investors, significantly.
World of realty
Selling floors, flats or plots on barren land is not a child’s play, unless it is backed with excellent performance on the ground. Customers do not feel confident to invest their funds in projects which do not put up any kind of activity. However, there exists a divergent view in this context. Had this been true, then almost all realty firms would begin with their work on the project and sell their products in the nick of time.
The fact of the matter is that even industry analysts cannot anticipate which project will take the market by a storm and which one will fall flat. As per experts, decoding the minds and preference of prospective clients is a burdensome task. Although some prefer to invest in projects where the construction work is still in progress, the image of the realty firm is also an important point of concern.
Size of the firm counts
One of the traditional rules is to take into consideration the size of the realty firm’s portfolio. The bigger it is, the longer it has been a part of the market, the more value it adds to its latest offerings. Potential investors and end-users prefer to book their property in such projects. The relationship between an established realty brand and a customer is very crucial, since no buyer will be happy to go half road when it comes to quality and functionality of the real estate product.
As per market reports, the brand value of a developer influences the buying decision of the clients, and often leads to increased consumer awareness and optimum sales, irrespective of the construction status. Quality of the work is directly proportional to the reputation and goodwill of the builder. At the end of the day, customers give a thumbs up only to those realty firms which hands over their dream home on time, adhering the quality norms.
