Real Estate Firms Use Online Media to Shield Reputation

Real estate builders use social media as a resort to preserve their reputation. Their reputation is tainted as home buyers comment negatively on social sites.

Real estate builders hope to cover up the lost reputation through appointing online reputation managers. The necessity pushes the real estate companies to hurry up appointing online reputation managers. This is done mainly to shield their reputation.

The proposed home buyers are yet to receive their homes even after two years of expected delivery. The provoked home buyers have started using social media to express their disgust. In fact this severely affects the reputation of the real estate developers.

Real estate research firm Liases Foras recently reported that the delivery of homes will be delayed. Approximately 3, 23, 000 homes are to be delivered in 2013. Liases Foras reported that merely a half might be delivered on time. The delivery of the remaining half will be delayed. The report added that some of them will be delivered only in 2015.

The undesirable delay by the real estate builders provokes the home buyers to comment negatively. They post negative comments about their experience with the builders. Most of the home buyers comment on Facebook and Twitter.

Real estate builders who have delayed projects at hand, is forced to appoint some external agencies or online managers. The real estate firms like Lodha, Unitech, Supertech and Puravankara are now using reputation management systems. Tata Housing has made contract with Social Wavelength to check out and control comments about them on the social media.

Tata Housing’s head for marketing services Mr. Rajeeb Kumar Dash said that they use social media to convince the people how and why the project is delayed. He pointed out that many of the negative comments are results of improper communications.

Mr. Jack Bastian Nazareth, COO at Puravankara Projects, wishes to view online reputation management system as a means to foster quality customer relationship. He said that by setting customer’s expectations right, the group can be sure of preserving its fame.

Online reputation management systems are meant to sort out the existing issues. Joint CEO of Social wavelength, Mr. Hareesh Tibrewala points to the nature of customers who want to be heard. He opined that most of the customers remain silent if they are heard and responded. This will reduce the amount of negative comments.

Mr. Tibrewala also said that any real estate developer can create a positive attitude in the minds of the homebuyers.

Mumbai-centered Lodha real estate group resorts to online reputation management to receive feedback from their customers. It helps them understand grieves and problems of their clients. However they try to contact directly with the clients offline.

Lodha Group’s R Karthik views online reputation management system which helps the company correct the clients. Majority of the problems are formed out of wrong or lack of information. He added that the company is able to face the problems reasonably at individual levels through direct and online reputation management system.

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