Realty Portals Fill the Information Gap for Buyers

Realty Portals Fill the Information Gap for Buyers

By siliconindia   |   Monday, December 15, 2014


Bangalore: By looking over the options in the Real estate market, every individual who plans to invest in a dream home will have mystifications in their minds such as from where to begin the search, which builder to trust, will the builder handover the possession on time? Is the safe investment? Are the nearby educational institutions good? Is my investment is worth full and many others.

The best way to grab the information is to look around the property which has for-sale signs and hire a realty broker. This is not only inept; it is also time taking task.

Before investing in real estate every buyer should be mindful of encompass databank of information about property. By visiting the realty portals buyers can check the information provided before hiring a broker. This saves a lot of time by narrowing the search. From last few years, the realty portals including CommonFloor, PropTiger and Housing.com are providing the necessary information by setting up their own teams, open forums and data science labs to make home buyers decisions easier.

If the buyers have confusion between two localities to purchase a property, the realty portals offer the option to compare locations within a city on diverse parameters such as average prices, user reviews and ratings, amenities and facilities available in the localities and property options.

An investor in realty portal Housing.com says that “In future, Technology and analytics will be the game changer and biggest differentiator in the online real estate industry”.

One of the key dilemmas that face by every first time home buyers is that whether to rent or buy a property, the deciding factor in that circumstance is the rent per month and EMI. This also can be resolved by Realty Portals. Many realty portals such as Magic bricks offer calculators to solve such problems. The calculator equipped in Realty Portals suggests whether to buy or rent a property by considering the annual income of the buyer. 0

To provide the information concerning safety measures of new projects in Delhi and National Capital Region (NCR), Softbank and Accel backed Realty portal Prop Tiger have amalgamated with social enterprise SafetyPin. The distinctive parameters that are used to score include visibility of vehicles, presence of street lights, access to modes of public transport and crowd at important times.

In 2012, the largest online realty portal in India, Housing.com has propelled its in-house data science lab. The realty portal offers information such as locality scores, rental values, resale, lifestyle rating, connectivity scores, and price heat maps across categories, paying guest accommodation, child friendliness index and new residential developments across 40 cities.

Advitya Sharma, co founder of realty portal Housing.com said that “Our realty portal algorithm considers the most basic needs and sought after luxuries and weighs them according to their significance, we use more than 50 parameters to grab that data”.

This results in better user experience for home buyers. They can get as much information as possible about a property. This saves time for every buyer.

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