Logo of Phnom Penh Post newspaper Phnom Penh Post - Vietnam taps into e-tools for realty sales

Vietnam taps into e-tools for realty sales

Content image - Phnom Penh Post
The online booking service by Phu My Hung Development Corp. New technology uses are a growing trend for the Vietnamese real estate sector. SUPPLIED

Vietnam taps into e-tools for realty sales

The prolonged impact of the Covid-19 pandemic has made digital tools such as live streaming, augmented reality (AR) and virtual reality (VR) essential to real estate transactions, according to Vietnamese real estate broker Tran Minh.

Minh no longer regularly meets customers face-to-face and now uses online exchange applications such as live stream on Facebook, video calls on Messenger, Viber, or the home-grown Zalo to connect with his customers.

Minh told Dau tu Chung khoan (Stock Investment) newspaper that he has used both face-to-face meetings and digital applications. But he says it is better to meet customers directly due to the nature of his work. However, with the current pandemic, he has to rely more and more on apps to stay active. Previously he had worked as a professional online marketer, which he says has given him an edge.

In fact, across the industry, livestream sales exploded a few years ago but were mainly used with fashion, cosmetics and food. Now it has also become a trend in the estate industry with not only individuals but also brokerage companies aiming to develop online consulting channels through technology platforms to avoid the impact of the pandemic.

Hai Phat Land – one of the largest real estate distributors in northern Vietnam, recently added an online talk show forum to consult and update information about projects and the property market in addition to direct sales.

Accordingly, they set up a separate studio fully equipped to facilitate online communication with customers on Facebook and YouTube.

Hai Phat Land director-general Vu Kim Giang said that they considered it as a tool to provide information to customers.

The online consultancy would help homebuyers have more time before making a decision. AR and VR applications help them feel the space in a room and get a feel for the interior design without going directly to apartments. They only need to visit the apartments to check the accuracy of the information received through the online channels and to sign contracts.

The property market is gradually changing with the development of digital technology. With the widespread development of the internet, online marketing has become an effective tool for marketers in general and in the real estate sector in particular. This development forces people working in the sector to constantly change their sales strategies as well as update their digital tools in a responsive and instantaneous way.

According to Cengroup chairman Nguyen Trung Vu, Vietnam’s real estate industry is changing very quickly, not every year, every month, but every day, and every hour. In particular, the transformation of “investment taste” and the change in the behaviour to using digital technology utilities requires estate developers to quickly adapt and apply technology in a methodical way to shorten the distance between buyers and sellers.

This is also the reason that Cengroup has invested heavily in upgrading technology platforms to support sales. They are also strengthening their cooperation with start-ups on digital solutions to add to their estate trading ecosystem in recent years. In May 2021, on Shark Tank Vietnam, Cengroup successfully closed a deal with a smart call centre start-up – a solution to support their marketing and sales management.

The race to put goods in the “online marketplace” is very exciting and businesses have been spending a lot of money on technology to reach customers. However, when they start to implement the actual implementation, the challenge is not small.

VIET NAM NEWS/ASIA NEWS NETWORK

MOST VIEWED

  • Ministry taking steps over Thai ‘replica’ of Angkor Wat

    The Ministry of Culture and Fine Arts has dispatched experts to inspect the ongoing construction of a temple in Wat Phu Man Fah, located in Thailand’s Buriram province. This temple appears to be a replica of Cambodia’s renowned Angkor Wat. The ministry said

  • Ream base allegations must end, urges official

    A senior government official urges an end to the allegations and suspicions surrounding the development of Cambodia’s Ream Naval Base, now that Prime Minister Hun Manet has addressed the issue on the floor of the 78th UN General Assembly (UNGA 78). Jean-Francois Tain, a geopolitical

  • Cambodia claims int’l titles in eight-sided arena

    Three prominent Cambodian Kun Khmer fighters – Thoeun Theara, Phal Sophorn and Roeung Sophorn – all claimed International Professional Combat Council (IPCC) world titles at the September 30 octagonal ring event at Town Arena, although popular Kun Khmer exponent Prum Samnang failed to secure a win in his

  • PM to open new Siem Reap int’l airport December 1

    Prime Minister Hun Manet and Chinese leaders would jointly participate in the official opening of the new Chinese-invested Siem Reap-Angkor International Airport on December 1. The airport symbolises a new page in the history of Cambodian aviation, which will be able to welcome long-distance flights to

  • CP denied registration documents by ministry

    The Ministry of Interior will not reissue registration documents to the Candlelight Party (CP). Following a September 21 meeting between ministry secretary of state Bun Honn and CP representatives, the ministry cited the fact that there is no relevant law which would authorise it to do

  • Rapper VannDa bridges borders with beats

    Born in a bustling Cambodian market, a young dreamer named VannDa found his rhythm amid the clatter and chaos. Today, his beats resonate far beyond the shores of his homeland, streaming on platforms like Spotify and capturing the imaginations of hip-hop fans in the region