NoBroker.in turning tables in real estate broking

NoBroker.in

Housing.com, a real estate property search portal that has been in the news for more wrong reasons than good. I assume more visitors visit the site to know about its CEO Rahul Yadav than to know more about the offering of Housing.com. On the other side, there is No Broker (www.nobroker.in) which has been working actively in the Indian real estate to change the rules of the game.

NoBroker.in was founded by Amit Agrawal and Akhil Gupta to rewrite the rules of broking in the real estate market. Currently, it is only working on rentals and has plans for expanding into property buying and selling. In current housing landscape, a tenant pays almost 18% as brokerage ( 2-month rent on 11-month contract) without any real value being added. No Broker is best positioned to add real value to both owners and tenants.

No brokerage

All online real estate portals like Housing.com, 99acres, Magicbricks focus on the B2C (Business to Business) model whereas NoBroker.in has created a C2C (Customer to Customer) model. The company has received tremendous response from Mumbai and is now moving to other cities like Bangalore, Chennai, Delhi, etc reaching up to 20 cities. Looking at its growth the company is funded by 3 entities.  Earlier, No Broker had raised an undisclosed amount of seed capital   from Four Fountain Spa [ Co-founder Saurabh Garg @sgarg2408 ].  In February 2015, the company raised $3 million from SAIF Partners and Fulcrum Ventures in its first round of funding. As per its founders, the funding will be used for expanding the technology and customer experience. In its current financial model, the real estate broking firm earns from preparing Rent agreement for tenant and owner. Moving forward it will introduce property buying and selling in its bucket of services.

I am very optimistic about its business model and I feel it is a dark horse in property search market.

 

Do leave your comments and connect with me @FunTaus

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