NoBroker.com, a brokerage-free property search portal that connects flat owners and tenants directly with each other by eliminating the middleman, has announced its launch in the bustling real estate market of Gurgaon. Backed by a differentiated and disruptive business model and innovative technology, NoBroker.com is all set to revolutionize the way real estate is rented in the city – completely brokerage free.
The annual brokerage paid in Gurgaon is Rs. 400 crores. NoBroker.com is planning to crash this brokerage and put the entire savings back in the customer’s pocket. To promote the same, the company has undertook campaigns, such as planting of look walkers in 5 to 6 high footfall malls across the city.
NoBroker.com has already helped its customers in Bangalore, Mumbai, Chennai and Pune save more than Rs 200 crores of brokerage annually. The primary focus is to strengthen the brokerage- free ecosystem and expand to all major cities in India.
Any owner can simply list their property for free on NoBroker.com by giving a missed call or leaving a WhatsApp message on 0-8107-555-666. For tenants, NoBroker.com has the largest inventory of verified owner listings with extensive information making it easy to shortlist a property. The company also offers assistance for creating and registering rental agreements with home-delivery
Speaking on the launch, Amit Agarwal, CEO & Co- Founder, NoBroker.com says, “Gurgaon is an important realty market for us, especially because it is a part of the NCR region. The city is currently a hub of rapid growth, buoyed by the presence of multinational corporations, a thriving service and manufacturing sector. The influx of expatriates and NRIs looking for lucrative jobs have caused a realty boom of sorts. Not to discount the young, tech savvy yet discerning population who understands how technology can disinter mediate inefficiencies leading to savings and convenience. Though the overall Indian real estate market witnessed a slump in the recent times, the year look promising as the market is becoming more transparent and structured. It presents a huge opportunity for us to expand and grow”
Cutting edge technology and a positive customer experience has enabled us to witness an explosive growth in our customers as well as transactions in the past one year. NoBroker.com’s competitive edge lies in the ecosystem of genuine owners and tenants that has been created through our proprietary technology which identifies and eliminates the broker completely. The market size of residential rental brokerage in top 20 cities in India is $4 bn which is estimated to grow to $12 bn over the next 5 years. The company is all set to expand operations and improve the house hunting experience of customers across the country.
NoBroker.com has many features to make your home search easy. Akhil Gupta, CTO & Co- Founder, NoBroker.com explains, “One of our latest innovation to redefine home search has been the ‘Life Score’. As per the Life Score feature, interested customers in the city can make their home renting decision based on the time taken by them to commute from their home to the work place. Apart from providing the foodie index and lifestyle scores, the platform will also provide the much needed commute score based on peak time and non-peak time data analysis. This unique feature will play a huge role in reducing road traffic, congestion and pollution. The feature will provide a travel polygan which will let customers know where all they can reach within 15 minutes from their house at any given time of the day, thus facilitating savings in terms of brokerage, travel time, fuel and expenses, lower carbon footprint.”
NoBroker.com not only helps you save, but also helps you earn! The NoBroker.com mobile app has a unique ‘click & earn’ feature. Customers can win Rs 100 on every property listed by them on NoBroker.com. All you have to do is simply click a picture of a ‘To-Let’ board and upload the same through the app.
NoBroker has served 1.5 million customers till now, making it not only India’s but the world’s largest C2C real estate platform. NoBroker is adding more than 1 lakh new registered customers on a monthly basis now and witnessing 5 lakh customer connections every month which leads to a saving of more than 20 crores of brokerage monthly. NoBroker.com recently moved to a free subscription-fee based model and has been growing revenues aggressively. Unlike many other ‘east-copy-west’ businesses, it’s a built-for-India business model with no direct comparison with any other large online real estate player worldwide. This is the first time that customers are paying upfront platform-usage fees in real estate since they can clearly see 80-90% savings in their transaction cost.