Interview

Real Estate Aggregators In Times Of COVID-19

Real-estate-aggregators-in-times-of-Covid

The real estate prices in the city are all set to reduce after the lockdown due to Covid-19 which has paralyzed the whole sector. It has been a tough time for real estate industry, more so for people in the business of real estate aggregation. We spoke with the leading players in the industry to understand how things are shaping up and trust us, we are in for some surprises.

MagicBricks, backed by the Times Group, has utilized the COVID-19 lockdown to improvise its technology and has trained millions of brokers and builders about effectively using the platform and about the opportunities that lie ahead. They have offered up to 50 percent discount on our packages and have started the process of selling. With zero layoffs and an excited sales and backend team, MagicBricks is all set to meet its financial goals. They will also be linking home buyers to a variety of services that may be needed locally in times ahead.

NoBroker has launched new services in home servicing segment that include everything from cleaning sofa to painting the home. In the conversation with NoBroker, they mentioned that they have started to receive booking for all their services as they are far more competitive than UrbanClap. They also plan to launch India’s first construction materials e-com portal in the times to come. They have also launched a new scheme – new project assured voucher for Rs.999, enabling 1.4 lakh people to book their dream home. It is surprising that 1.4 lakh people have actually paid the initial booking amount which is totally refundable incase the person is not going ahead with the booking.

99acres.com is eyeing the rental business that has shaken due to COVID-19. They say that they are expecting people to shift homes like never before in the month of June, July and August. It is gonna throw a new opportunity to them. 99acres.com has a strategy in place for every city. They have hired close to 1000 sales personnel to en-cash on this demand. Unfortunately, their trade is not contact-less as brokers and builders expect face to face meeting to close deal. They shall also be eyeing sales of near-completion or ready-to-move-in property. This is where the new opportunity is.

It is commendable that even in the gleam situation of the pandemic, businesses are coming up with unique solutions and strategies. It is in these tireless and positive endeavors that we can hope for a future with great possibilities ahead!

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