Real estate is a complex industry. Owing to the capital intensive nature, unorganized market status, and confusing regulatory identification, the sector is struggling to cope up with the loopholes in the prevailing practice today. Further, the various stories of unpleasant experiences shared by buyers have raised questions on transparency in real estate dealings in the country. However, the sector is heading towards a phase of maturity now. Even, the government is coming up with new guidelines and laws to protect the interests of home buyers, developers and consultants alike. The future looks promising as online home buying is gaining popularity in the market.
Online Real Estate Portals are Changing Real Estate Marketing Scenario
The system of online purchase in real-estate will take time since there is involvement of huge amounts of money, but online assisted sales are a popular option even today. Having said that, a lot of web assisted research has been noticed recently that comprises of more than 24-25 million searches, exclusively for real-estate. Interestingly, property listing sites are getting about 8 – 10 million visitor hits a month that reflects the fact that people investing in real-estate are definitely on the WEB. In addition, there has been a considerable hike in web searching for topics related to real estate like property search, project details, virtual tours, comparisons, location discovery, home loans & interiors as well.
Online brokering services function by the engagement on technology platforms including Website, Call Centres, Back-end Processes, real-time information updates; all in all a very tight integration of human engagement with technology enablers.
As far as differences are concerned, we feel that the difference is the ease of information availability for the consumer and the quantum of it, and with IndiaHomes, very transparently. The other difference is the use of technology at every stage of customer interaction, right from his engagement on the IndiaHomes website to face to face meetings or site visits. We at India Homes ensure that the technology moves along the same path and becomes an enabler for a faster, better and more transparent interaction with the customer.
On investment, it is not about the money, but a much larger commitment of restructuring an unorganized property brokering market. The other problem to look at is the scale you want to grow the business into, whether you want to be a shop next door or an organization with a pan India presence.