Future of Real Estate in Bangladesh

When we talk about marketing which covers many areas such as branding, positioning, retention, supply chain, product development, and sales. Most of the companies make a major mistake by separating marketing and sales tapping it under two different leadership. This mistake leads them to involve in conflict and both departments end up with contradictory ideas driven by different strategies, visions, and missions. Some companies think that Facebook marketing or newspaper ads are sufficient to generate leads and sell their products. Some companies cover all 360’ marketing components like ATL, BTL, and TTL, but they do not follow through with the process. I have seen many companies are doing good in touching 360’ platform, but without cutting the elephant into pieces.

In this modern era, any sales head or marketing head has to have the technical knowledge and without this, they will be throwing themselves out of the league gradually. Having some knowledge in AI (Artificial Intelligence), CSS, HTML, JAVA, Python frameworks with some SEO knowledge will give them a sheer advantage. By using the personal phone anyone can attend to 500 clients simultaneously if they have BOT knowledge. Reaching out to your 3000 based clients through personal email once in a week with updated news may take them to the TOM (top of mind). How the Facebook business account panel works can surely give you an advantage over the very niche which is ought to be the target.?

Someone from a land company asked me a very weird question a few days ago. He is a COO of the company selling plots near Mawa and in Purbachol. His question was how I became a CEO of a Real Estate company with a few years of real estate background, and how I justified that. I asked him what he actually intended to know, my capability or my incapability. He then backed off by saying “forget it”. The person didn’t go through my whole career which had started in early 1997 and he remarkably was in a discomfort zone by asking me such foolish question which deliberately pointed his ground of jealousy. Rather than continuing the conversation I kept silent and discovered myself in this blog. Many people lost their jobs during this Covid 19 period due to lack of productivity, and many had lost their confidence in hanging in the real estate sector. The entrepreneurs were looking for multi-talented skills to save up some penny. It is funny that this Covid 19 helped me a lot to develop myself with gaining technological knowledge in certain areas and surely gave me some extra wings to compete myself with this type of leader (The land company’s COO). As I said earlier that the whole real estate marketplace will shift into a new dimension and will be very challenging for those who do not have enough knowledge in technology-driven marketing. Technology is also changing and keeping yourself up-to-date with the trending onsets will require a lot of effort. Sales are logical consequences of someone’s act, marketing effort, and advantage over the competition.?

Since I am being passionate about the real estate sector and I also would like to leave some legacy in this sector, I have found a few challenging factors and traits which we all need to be careful about.

-????Foggy vision of a company

-????People problem

-????Commitment

This morning one of my fellow colleagues asked a question whether this industry falls under the service or technology category! The question was wrong and the right question would be “Does real estate fall under service or product category?” The real estate falls under both but first comes under the product category which has to endorse the lifetime and the service period. It falls under service since this is a lifelong product, serving many lives under a single roof. Accountability of service comes under question when a developer completes a project and hands it over to its client. Either a short-term or long-term strategy for serving the clients is a common strategy adopted by different companies. Community formulation, electoral committee creation are common phenomena in Bangladesh. But nobody thinks of few facts; a committee member could go bankrupt, might have no money to carry on repair works, might die any time, or might face other challenges. A project becomes guardian less within a short period and the project gets faded over the years, losing its all beauty once built up for satisfying the locality.???