How innovative startups are disrupting the real estate sector

Gone are the days when property hunters in the country had to encounter the exhaustive process of running from pillar to post, to secure a relevant property unit, matching their budgetary and investment requirements. With rapid advancements in the country’s Information and Communication Technology (ICT) sector, mobile devices have no longer remained a mere communication tool, but are also facilitating the consumers in their day to day activities, with real estate purchases not being an exception.

The concept of purchasing property online has further received a push with the mushrooming growth of tech-savvy real estate startups, leveraging innovative strategies centred on a buyer first approach. These startups offer an end to end support to property buyers, straight from locating the most suitable option, to helping them with the transaction process involved.

A win-win proposition

The commencement of this new era in the country’s most vital sector has not only raise hopes among potential buyers eying their dream homes, but also among the property owners and developers, with these startups ensuring that millions of buyers across every nook and corner of the country have online access to their offerings.

Buyers, on the other hand, can instantly access a huge compilation of properties from credible developers and owners, eliminating the space for brokers who at times resort to misleading buyers. With features such as detailed location descriptions, high-resolution property pictures, filtered search and even virtual reality offered by these young organizations, gaining insights about a particular unit is now a cakewalk for consumers.

Many of these startups have now also forayed into the hospitality sector, providing detailed information related to the availability of accommodation options to travellers on the go, with huge discounts and offers.

Discounts and freebies

Almost all of these startups have exclusive tie-ups with developers and builders to offer a plethora of attractive discounts and free furnishings. The numbers of such offers rise significantly during festive seasons pushing the number of sales during the time period.

Head to head comparisons

Many real estate portals offer the provision of reviewing two projects by a similar builder to help buyers procure the most suitable property option, aligning with the majority of their requirements. It also helps buyers to negotiate regarding the pricing of property, reaching the same developer via different realty based startups.

Project rankings

Most of us prefer to get a grasp on consumer feedback before buying a product and real estate projects are no exception. A number of real estate portals are banking on this concept via providing a platform to property buyers to register their reviews and ratings related to a project. Buyers are advised to go through the reviews and feedback of a project on different portals before making an investment move.

Propelling the rental market

With urban migration growing leaps and bounds in the country, property renting has emerged as a major fragment of the sector as most of these migrants do not have the purchasing capacity to own a house. Real Estate startups have come as a boon to this consumer segment, offering numerous property options available for lease in the desired locations of consumers, bypassing the role of brokers who charge a hefty commission for facilitating a property lease.