Indian real estate market is expected to touch $180 billion by 2020 which is bringing in much foreign as well as local investors to invest in major real estate websites and regional property sites.
Since the domain “Real Estate websites” is easily penetrable many new players are coming in with a handful of investments to compete with established players.
In India 75% of property buyers are going through online to find their dream property, means out of 100 seventy-five people making an online search before they finalize the property.
This number 75% includes duplicates, means the number 75 is not completely dependent on online portals but also finding in other mediums.
This number strongly indicates developers cannot miss out property portals in their campaign.
In some newbie property portals, the cost of advertising appears to be low but the return on investment for builders is also low or zero sometimes don’t get carried away with low cost.
Real estate marketers need to find the right platform before they spend a single penny on listings.
Listing your property on all platforms appears to be a right choice to create brand awareness but ultimately it increases your marketing cost.
With a limited budget, you have to find the best platform to list and sell your property faster.
Though it is wise to select the popular one based on their people’s reach advertisers need to know the why factor before selecting the real estate websites in India.
After going through all the real estate websites in India that google indexed, I compiled this listicle for you.
Best real estate websites in India to list your property online
India’s No.1 property site which could take your property to 11 million property seekers across the nation.
The advertising industry tycoon Times Group is the parent company of MagicBricks which is another reason for marketers to choose MagicBricks.
The US-based media measurement and analytics company Comscore measured that Magicbricks is having 51% more unique visitors than their main competitor in the real estate market Which makes sellers think of Magicbricks over any other players.
Out of 75% online property buyers, 52% of people are filtering their property on magicbricks (Reliable source) such a big number to be considered.
MagicBricks introduced an app called Propworth where you can find the right price of any property in eight major cities. Propworth also helps sellers to fix the price for their properties by keeping it as a benchmark.
Buyers can get free property advice and free access to tools like propworth calculator, EMI calculator and investment insights.
Though the website is responsive and well mobile optimized Magicbricks introduced its mobile app (Android, IOS, and windows) to keep sellers connected with buyers even on the go.
Virtual Reality in Real estate in India
Magicbricks being a pioneer in the real estate industry introduced the experience center, a physical innovative kiosk for developers to display their properties.
Here buyers can walk into their desired properties virtually using VR gadget. More than in selection it helps buyers to filter out the undesired properties.
It’s completely free to visit the kiosk and they charge a premium from developers to advertise their property.
Other than the Virtual reality they have 3D hologram display and LCD displays for developers to showcase their properties.
Magicbricks experience center is not a one-stop solution for developers it’s just a one of the innovative solutions.
Dream Home Festival
Dream Home Festival is an online real estate event organized by magicbricks every year during Diwali festive season to create an urgency in the real estate market.
Its like Flipkart’s BigBillion Dollar sales or Amazon’s Great Indian sale where the builders announce lucrative offers for the end buyers which stays in the market for a limited period only.
Magicbricks in association with other print and advertisement media promotes this offers in the market very loudly and create a buzz among the property buyers. This year Magicbricks’s Dream Home Festival is falling from October 1st to 31st October – 2018.
Founded by IITians later acquired by an online classified Quickr which also acquired Grabhouse later(another property site).
Commonfloor listed more than 5lakh properties across 200 cities getting more than 70 lakhs website views in a month across the Globe.
Other than mere property listing Commonfloor brought innovation in its user experience using Virtual Reality technology.
CommonFloor Retina the world’s first virtual reality innovation in real estate sector where buyers can experience the live visit to the properties. They can access to kitchen, bathroom, dining and bedroom of their future property virtually.
A research found that the potential buyer spends 6-12 months of time and travel an average of 300kms before they take a decision.
Commonfloor retina addresses this delay by helping buyers to visit properties in different locations in one place using virtual reality technique.
This technique will considerably reduce the time taken and distance traveled by buyers.
The ultimate desire of all the seller is to sell his property as early as possible to reduce the interest paid to the bank. So Commonfloor retina is also the boon to sellers.
On Commonfloor under Live-in Tours, buyers can experience 360-degree property by simply dragging over the image.
This Chennai-based property site holding 6lakh + properties and 2lakh + satisfied buyers across the nation.
Their flagship feature Assisted Property provides end to end assistance before and after buying the property.
Like Commonfloor Indiaproperty also having built-in technology for 3D floor plans and virtual tours which ensure buyers get a personalized feel while visiting properties online.
I am little confused how this website is calling themselves as India’s No.1 property site with mere 3million unique visitors in a month.
With its 3.5 million visitors, it will emerge as the competitor for Magicbricks in near future.
Proptiger (another property site) acquired Housing.com and Makaan.com to become the India’s largest real estate property displayer with each website having their own USP.
Other than common website view, Housing.com merged with Uber to take the buyers to the location in few clicks without leaving the site.
Housing.com introduced Housing Go a mobile app for buyers to flip through properties on the go.
This website focuses more on first-time buyers in the age group between 25-40 even in their TV commercials which is the one unique reason sellers has to think of choosing Housing.com
This company is in a neck to neck race with Magicbricks in terms of revenue generation not in user experience.
A well-known brand in the real estate industry owned by info-edge gaining millions of views from potential property seekers.
Though the website is not as attractive as Magicbricks they too have a considerable number of views for sellers to think of 99acres.
While analyzing all the real estate websites to create this simple useful listicle I found that Magicbricks is much better than any other real estate websites in India in any terms.
Sulekha is an established online classified in India but they too have a footprint in the real estate market.
Property(dot)sulekha(dot)com is one of the online real estate websites which falls in the same business line with other online property sites.
The website looks clumsy and is not as professional as magicbricks or 99acres but having decent traction in the market.
Realtors having budget concern go with sulekha properties as it is the cheapest real estate portals comparatively.
Despite generating good turnover from sulekha properties,sulekha still depends on Google Ads which may distract and takes the real estate buyers out of the site and may end up in somewhere.
For example: Being a real estate promoter I am investing 1lakh in sulekha properties when buyers come and visit my property and they also show an ad which is out of context and it is based on the user cookies then there are more chances a buyer will leave the site and follow the ad.
Sulekha should think of removing this feature from their portal.
7. Roof and Floor
Like MagicBricks which is backed by the industry tycoon Times Group, Hindu Group also introduced their online property portal roof and floor to takes its pie in real estate online advertising.
Though it is backed by the Hindu Group they entered the market very late.
Though roof and Floor claims the developer that whoever read The Hindu newspaper on weekends they will come to know about roof and floor. But what is in it for developers.
Already buyers are given many established options like Magicbricks and 99acres then why they have to again invest in roof and floor without any compulsive reason. In a simple words roof and floor is just one of the real estate websites online.
NoBroker is one of the online real estate websites which is popular for rental than a sale. It connects property owners directly with property seekers.
This business model works better in the rental segment because only in rental segment tenant gives brokerage whereas in buying segment developer will take care of agent brokerage not imposed on end buyer.
No broker’s revenue model is also completely different from other established portals.
In other real estate websites, advertisers (property owners) have to pay to list out their properties and the end user can contact them for free whereas in Nobroker property owners can list out their property for free and end user has to pay a premium to view contacts.
Really one of the popular and useful real estate websites for the rental segment.
Propertywala is just one of the real estate websites in India to list out your property like other leading portals. Propertywala offers one free listing for individuals like owners and paid service to builders and agents.
Listed thousands of properties across the country but doesn’t give the intuitive feeling to come to the website again
Quikr, the largest online classified site in India started a vertical in real estate called quikr homes to make this sector further crowded.
Quikr which was early in advertising used products started many verticals like quikr easy, quikr bikes, quikr cars, quikr Bazaar, and quikr is just an another vertical.
Almost doing similar thing what other leading players are doing in the market, nothing different or new.
FYI : List of Free Property Listing Sites
|1. Magicbricks||2. 99Acres|
|3. CommonFloor||4. Quikr Homes|
|5. OLX||6. Makaan|
|7. Property wala||8. Property Bazaar|
|9. Property Khazana||10. FreeIndiaProperty|
|11. Sulekha||12. Housing|
|13. Property wala||14. IndiaProperty|
|15. RealEstateIndia||16. PropTiger|
|17. Nobroker(for rental)||18. Zricks|
Bonus tip to generate leads for your property
Spini, unlike other property portals spini is not a listing site but a lead generating platform.
For example, if my friend is looking for a property in Chennai, I post my friend’s contact number and name on Spini, they will do a background check to find the authenticity of the lead post.
Once it is confirmed they will share the lead to the respective builders.
How to choose the best real estate site to list out your property online?
In any product sales when buyers are given numerous choices buying process consume more time.
Ten years ago in real estate buyers are given limited choices and limited knowledge but the scenario in this decade is completely upside down end consumers are given numerous choices and real estate websites are feeding them more knowledge than required which is ultimately deferring the buying.
Study claims, buyers are spending an average of 6months to buy his first house.
When buyers are taking this much time developers also need to market their property for a longer duration.
Online is the one and only effective option developers are left with to advertise their property for a longer duration.
But when it comes to picking right real estate websites we need to know few metrics.
1.What is their monthly traffic in your project locality?
You can ask the sales guy to come up with the right figure of their searches per month, visitors per month and unique visitors per month in your project locality.
They do provide and obviously, you have to stick with the high traffic one.
2.How do online real estate websites generate leads?
There are two ways to generate leads for your project.
A.Organic and B. Inorganic
Real estate websites like Magicbricks and 99acres generate organic leads, they display your property to buyers and if the end buyer is interested in your project he/she will contact you.
The drawback of the organic method is you may get few inappropriate leads like bank agents, competitor portal’s sales guy, real estate agents and few who are contacting to get business from you.
Inorganic lead generation
Here real estate websites generate leads for one project and pass it on to others.
For example 10 leads are generated for a project in the bracket of 60-80lakhs they call and verify those leads and pass it on to other projects falling in the same bracket.
The drawback is they share the same leads to all the projects lying in the same locality of that bracket.
3.Do they give any sale assurance?
If the answer is Yes, the salesman is just trying to close the order and escape.
I can assure you one thing, no advertisement platform can assure you sales it can be any medium.
4.How much to spend?
Money spending in any business is not a spend it’s an investment. So we can think of how much to invest in online portals.
The basic thumb rule in any advertising medium is “the more the subscribers the more the cost of advertising” because to bring that many subscribers their market spending is high.
So don’t ask the sales guy to suggest the lowest price product rather you can ask for the best product and negotiate on this.
And don’t select any portal because they are cheaper than the market leader. Stick with the market leader.
These are the four basic things to consider while choosing online real estate websites to advertise your property.
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