Name of the provider / Family business
Pioneering Digital Innovation in Real Estate Development: An example of how innovation can change the destiny of a company
TM Grupo Inmobiliario
Professional sector and company size
Real estate, 1500+ employees
Need/problems/challenge addressed
Innovation
Country
Spain
Source
Link to more information
TM Real Estate Group, a family-owned company based in Alicante, has been a leader in the construction and development of second homes in the Mediterranean since its inception in 1969. With a remarkable track record of over 20,000 homes delivered, the company has earned an excellent reputation in the industry. When the pandemic broke out, TM Real Estate Group, which was heavily dependent on tourism, faced unprecedented challenges. However, the company embraced digitalisation and looked for innovative ways to adapt to the new normal. By integrating digital tools into its marketing processes, the Group managed to successfully overcome the crisis. Some of these innovative approaches are:
Social media platforms. They used these platforms to promote their real estate projects and generate leads. The contact details collected through social media channels became as valuable as those obtained through physical visits to the sales offices. By leveraging the wide reach and engagement potential of social networks, TM Real Estate Group was able to expand its customer base and strengthen its online presence.
Online Web Chat. The company introduced a web chat feature to provide quick and personalised responses to customer queries and help them resolve doubts promptly.
360º virtual tours. Using advanced software, TM Real Estate Group created 360º virtual tours. This technology allows clients to digitally explore every corner of a property, providing a more comprehensive experience than traditional static photos.
Video guides. Property consultants conducted virtual tours of various properties. This approach provided a realistic representation of the properties and helped potential buyers in their decision-making process.
Live video tours. TM The Real Estate Group’s most comprehensive tool was the live video tour, which was conducted by real estate advisors via video call with clients.
Webinars with clients. The company organised webinars conducted by consultants in multiple languages to educate international clients about the buying and selling process.
Online Home Sales. TM The Real Estate Group has been a pioneer in online home sales since 2000.
Construction progress videos and 24-hour cameras. Homeowners could follow the development and progress of their properties from anywhere, using any device with an internet connection.
Digitisation of documents. The introduction of digital signatures for contract documents streamlined administrative procedures for purchase and sale transactions. This digitisation facilitated remote administration, especially at a time when travel options were limited.
TM Real Estate Group’s successful adaptation to the challenges of the COVID -19 pandemic demonstrates the power of digital innovation in the real estate industry. By using digital tools and strategies, the company has not only survived, but thrived in a time of unprecedented upheaval. As the industry continues to evolve, the company’s digital transformation serves as an inspiration to other family businesses seeking to navigate the ever-changing real estate landscape of the digital age.
