Yogesh Thakur, General Manager of Omaxe Limited, one of the top Indian real estate companies in India and former director of planning and strategy of Nimbus Adcom Pvt. Ltd, sat down with us to share his useful insights for our latest Expert Interview. Yogesh has been in charge of the daily marketing service and operations. He has worked with 150+ businesses in the past 12 years. With great experience in the field, he assures great results to all his clients.
We asked Yogesh to give his opinion on the state of India’s luxury real estate market, and its evolution, where he thinks the real estate marketing is going in 2021, as well as tips for real estate marketing that wasn’t popular before.
- Tell us a little bit about your background and why you chose a career in marketing.
I am not sure why I wanted to make a career in the marketing field. I grew up immersed in business and marketing conversations in my family. After completing my education, I shifted my focus towards running a marketing agency. I admire my work because it never gets boring. Every client and business I come across allows me to dive into their world and learn more about them. All this makes marketing a private and wonderful experience. I am always eager to work to the point that might seem like an obsession to some. But I am extremely thankful to the world of marketing for such immense gratification and recommend it to everyone
- How would you describe the luxury real estate market in India today in terms of trends and challenges?
Firstly, the residential luxury market segment is quite different from other asset classes today. Owning residential real estate in the prime areas constitutes the symbol of pride for the ultra-rich Indians in social circles. Be it owning a high-end bungalow in South Delhi or a high-end apartment in South Mumbai. They have got to have the best pin code. Secondly, the definition of luxury real estate isn’t limited to just the location aspects. Nowadays, condominiums, contemporary residences, and penthouses are gaining momentum over India’s current reality scene. Thirdly, most tier-2 tourism locations such as Goa will see a rise in second homes getting developed for the ultra-rich. Fourthly, NRIs will also dominate the luxury real estate sales due to their growing willingness to rediscover India and add more essence to their post-retirement life. All thanks to the high disposable incomes unlike before!
How do you think the market will change in 2021 compared to last year?
I remain hopeful that the market will do better than the current scenario. Coronavirus pandemic has had a great impact on the real estate buyers’ market. However, the market is still undergoing rapid evolution. Several government initiatives have come up since 2020. But the constant lockdowns have dashed all hopes for the time being.
What are some of the innovative and modern techniques and tactics for real estate marketing that didn’t exist even ten years ago?
Several exciting things prevalent in the real estate market didn’t exist before. Such as new virtual reality technologies that help prospective buyers envision the new set of changes in a space that isn’t built yet. The latest virtual staging tools are extremely helpful to property agents to showcase a property’s potential by altering an image. These make quite exciting innovations in the field.
How has the evolution of online marketing impacted the luxury real estate market?
Online marketing has certainly been a game-changer for most luxury real estate buyers, agents, sellers, and marketers. The innovative tools of the 21st century have been quite helpful in adding more transparency to the real estate field. Nowadays, people have access to various wealth resources that are willing to help them find a property but also get a good idea about trends, inventory, neighborhoods, etc. As a marketer, I am quite blown away by the extent of insights one can gain with these new tools.
Is there anything that you believe everyone in this industry should be working towards?
I think every responsible real estate professional should direct his efforts towards solving issues such as how to find the solution for the lack of affordable housing in urban areas. Being in the luxury real estate market sounds like a hot choice but dealing with the consequences of economic trends and overall imbalance takes a great deal of courage. If the industry stops being creative, thoughtful, and helpful. The problems of the luxury real estate market will grow to an extent that might be impossible to fix.
About Yogesh Thakur:
Yogesh Thakur is the General Manager of Omaxe Limited, one of the top Indian real estate companies in India and former director of planning and strategy of Nimbus Adcom Pvt. Ltd. He has provided digital marketing services and strategies to many niches like education, real estate, NGO, health care, healing, and many more. Where every other marketing company offers just the routine digital marketing and strategy services, he goes the extra mile for understanding what his clients want in terms of market, objectives, goals, and competition. And then, provides customized strategies designed for success.
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