Shahid Balwa Promoter DB Realty - How Real Estate Transcation Space Has Evoloved Over The Years?

Owing to the unorganized nature of the Indian Real Estate, individual brokers and small set-ups are leading the market. In theory, the model doesn’t seem to have any problem. However, the consequential ignominies can’t be overlooked. If we study the behaviour of the potential buyer carefully, we will understand that most of them make uninformed decisions. On the other hand, since brokers are not fully equipped with the essential resources, it affects the decision making ability of the buyers too. But the matter of the fact is that when you are investing in the real estate, it is extremely important to make an informed decision. One can’t just depend upon personal connections with the broker to make a viable choice.

Indian Real Estate Witnessing transformation: The advent Of Online Portals

With the advent of numerous online portals, the Indian real estate has been witnessing the much-needed revolution. The success story of these portals owes a big thanks to venture capitalists ( both Indian and International) who found great potential in them. Consequently, they got the taste of success in no time.

According to Shahid Balwa, Promoter, DB Realty, the success of these ‘search & discovery’ portals brought about a great transformation in the real estate market of India. The processes have become more streamlined and organised with their arrival. These platforms use powerful algorithms to store a large amount of data. Similar algorithms have made it easy to manage that data. As a consequence, property buyers and sellers procured an easy access to an entire world of relevant information with just a click. Later on, with the addition of more tools, buyers are presented with valuable insights which, in turn, become the basis of their home-buying decision.

However, there are some loopholes in this model too. It lacked human touch which made it impossible for the buyers to get fully convinced and buy the property.

O2O Model: A Fresh Approach

To make the transaction space more efficient, an integrated online and offline (O2O) model came into existence. To make the model successful, substantial sales force was positioned across the nation. As a result, many pressing problems, especially the ones faced by home-buyers, were solved efficaciously. As per Shahid Balwa of DB Realty, these ICPs employed backward & forward integration including partnerships with top-level real estate developers to foster their model which proved to be extremely advantageous to the industry as whole. 

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Created on Jun 28th 2019 02:02. Viewed 383 times.

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