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Tag: property buying company

  • Business Model Of Magicbricks: How Does Magicbricks Make Money?

    Are you looking for a more manageable home? A dream home? Or want a place you and your family can call home? Want a rental estate? Don’t know where to get the best area to dwell? Are these questions bothering you a lot? Real estate is usually the best investment choice for you. It can produce endless passive earnings and be an excellent long-term investment if the price rises over time.

    Magicbricks is India’s leading online portal for buying, selling, and renting Properties. The company also solves issues and concerns related to real estate investments. Founded in 2006, the real estate portal is owned and managed by Times Group ( Bennett, Coleman & Co. Ltd.)

    Magicbricks has been validated by consumers and several industries. It has been granted Super-brand status in the most recent survey by the Super-brands organisation. Lets get an insights on business model of Magicbricks and learn about how Magicbricks make money?

    About Magicbricks
    Business Model Of Magicbricks
    What Is So Unique About Magicbricks?
    How Does Magicbricks Make Money?

    How to make money from real estate | Business Models

    About Magicbricks

    Magicbricks is an online forum for both estate buyers as well as sellers. The corporation is a division of Times Internet Limited. It’s a fully-owned assistant of Bennett, Coleman & Co. Ltd. It also gives all kinds of sources and information about all property-related matters.

    Keeping this aside, there is a report column called “Property Pulse” which comprises estate news, household loan concerns, legal and taxation matters, and estimation of the properties.

    Areas of operation

    Magicbricks Provides its services in India and Globally
    Magicbricks Provides its services in India and Globally

    There are more than 200 estates vacant for sale in Mumbai. Located at the main sites of Mumbai with easy connectivity to close hotspots, these estates promote premium facilities and large interiors. With an incredible site, massive connectivity, and luxurious conveniences, these are decent places to discover residential estate, mainly in Mumbai. It provides its services in 60+ cities in India.

    Key Products and Services

    Magicbricks.com is a high-end estate portal that caters to an international market with unique and special services and novel online details. Since its launch in 2006, Magicbricks has quickly climbed to be the No. 1 Estate Portal in India. The Magicbricks design is based on strict exploration, distinct product developments, and creativity which the users have ratified. In a trial to serve the users, captions on the Magicbricks portal are often developed, analyzed, and promoted.

    Apart from buying, selling, and hiring properties in India, users have entry to the services.  The announcement column of Magicbricks “Property Pulse” comprises estate news, home loans interests, legal & taxation matters, authority viewpoint, and proper analysis of estate trends. The Buyer’s Guide is a real estate eBook that covers all the essential steps and stages entailed in property buying and contains answers, quick tips, and expert advice on what to look for and how to manage property buying.

    Target Audiences of Magicbricks

    Magicbricks.com is compatible with internationally praised estate fairs. It’s here that the top-notch estates of major Indian metros are showcased for audiences in India and abroad. Magicbricks.com has successfully hosted 75 households and over 15 multinational property shows around the world.

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    Business Model Of Magicbricks

    Ever wonder how companies work? What exactly goes on behind the scenes? How does it make money? Every business obeys a particular technique of working. And that technique is its business model. First, defining here the business model of Magicbricks. Real estate Firms like Magicbricks, 99acre and others have also got a similar business prototype:

    • Their source of income involves rates for documenting a specific estate. This means it is better than free documenting.
    • Magicbricks implicates the person promoting a quantity for a premium, documenting the publicity for particular products.
    • There are many properties at Magicbricks. So for them, they promote the properties with various shades.
    • The real estate business company gives perfect locality data with real locality pictures.

    Advertisements are a very familiar word. Everyone has come through it once, twice, thrice, or even more. It receives money from the pennants as well. Of course, it’s an online portal so, from those searches too, it collects money. It gives suffering of a lot of facilities to their users. Most importantly, it also delivers a feature. It is a luxury online website. Personalized services such as Vaastu, Astrology are yet included within it. Thus, people don’t have to ruin money on these aspects. And in this way the company makes money.

    What Is So Unique About Magicbricks?

    Magicbricks gives you a culture that is all about creation and winning. It challenges you and brings the absolute best out of you. The dynamism here is such that it draws the next level in you, releasing your actual ability and proficiency vastly better than you have ever thought. This will finally turn you into a high-performer who is full of impressions, outcomes, and unmatchable willingness.

    The business has plucked many buyer’s eyeballs towards it. The Real property online portal, MagicBricks has recorded 74% advancement in the second quarter. And the first quarter saw a 48% advancement. But the second one is massive, as mentioned above.

    The portable app is better. It’s more than 10 million downloads. It has earned itself the only one of its type to attain the landmark. The firm is experiencing massive improvement day by day. This was much expected as in the last three years, and there was a deceleration in the development process.

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    How Does Magicbricks Make Money?

    Magickbricks’ revenue comes from various sources:

    • MagicBricks is a real-estate portal that makes its money primarily from Producers, who spend a lot to expand their new operations. Another income stream is selling leads to dealers. And ads are just a minor portion of it. Magicbricks and other related portals have better than one income source. First, the Subscription-based model, every dealer on the forum spends some amount upfront to list out properties on the portal. Also, If the dealer is prepared to pay a slight premium, his properties are given appreciation over other properties as a result.
    • Secondly, Space selling or Media Deals, Traffic on the site is also leveraged by the firm. Banner space is sold to big players who want to promote their brand to the audience who explore the website. For massive construction programs, they also do earn promotion fees. So, they promote your estate for payment and then receive potential leads from buyers.
    • Property listings website Magicbricks has extended thirty crores from its parent company, Times Internet Ltd. The firm will utilize this budget for brand-building enterprises. Product advancement and seller improvement activities will take place soon. The firm says that it notices itself playing a much more significant role as a consumer. With this capital, more effort will be put into the forum. They are also striving towards having nearly 85% of all the available properties to be documented on their site.

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    Conclusion

    The objective of this business is to give rise to a better and clear place for its laborers with a primary modification. The laborers invade the maximum areas. And the Senior Executives usually receive glass compartments. But these things are gonna shift very shortly.

    Now productivity would no longer be an obligatory matter. The corporation will be promoting art and creativeness a lot. Their work techniques and the workplace’s flexibility will be the fundamentals of advancement. Further specialized items will be set into the app as well as the site.

    FAQs

    Is MagicBricks Indian company?

    Magicbricks is India’s leading real estate portals for property buying, renting, and selling.

    Which is the best real estate portal in India?

    Some of the best real estate portal in India are:

    • MagicBricks
    • 99Acres
    • Housing
    • Common Floor
    • OLX Homes
    • Sulekha Properties
    • Makaan
    • Quickr Homes
    • Homes247.in

    What are the business structure for real estate?

    There are 4 main types of business structures for real estate:

    • Sole proprietorship
    • Partnership
    • Corporation
    • Limited Liability Company, or LLC.

    Who are the top competitors of MagicBricks?

    Some of the top Competitors of MagivBricks are:

    • 99acres
    • Makaan.com
    • Housing.com
    • Commonfloor.com
    • Homes247.in

    Who is the founder of MagicBricks?

    Sudhir Pai is the founder of MagicBricks.

    What is MagicBricks’ revenue?

    Magicbricks Realty Services Limited’s operating revenues range from INR 100 cr to 500 cr in a financial year.

  • Propstory—Data-Driven Platform for Real Estate Buyers and Investors

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    In the next ten years, the real estate sector is expected to grow to a US$ 1 trillion economy from over US $150 Billion today. The digital contribution of advertising, content marketing & pre-sales processes are meager as of today while we see a heightened move towards an aggressive digital push whereby spends are growing anywhere from 20-30% there is still a vast gap in real estate compared to other consumer industries.

    Think of a genuine home buyer looking for a property in a metropolitan city of Mumbai or NCR. He has a choice of several thousand projects that are going on at any point in time, and all he needs is one property that satisfies his needs – budget, timelines, and features. It is a tough market for such home buyers and you cannot attract them merely using price as a bait. That’s the opportunity Propstory wants to grab. It wishes to empower the ecosystem whereby the transactions are enabled through data, facts & technology instead of assumptions and future government policy.

    Propstory envisages being the most sought after information-driven platform for the vast real estate sector to establish a connection between buyers & real estate companies. They do it by lowering down pre-sales and marketing for real estate to 5-7% of the overall industry. Read more about PropStory Company Profile, Success Story, Founders, Funding, Business Model, Revenue, Growth, Idea, Work Culture etc.

    PropStory – Company Highlights

    Brand Name PropStory
    Founders Ashish Mahajan, Bhagwandas Paliwal
    Founding Year July 2015
    Headquarter Gurugram
    Sector Real Estate
    Company Name Kuotient Realty Pvt. Ltd.

    PropStory – What is PropStory?
    PropStory – Founders and Team
    PropStory – The Idea
    PropStory – Name and Logo
    PropStory – How It All Started?
    PropStory – Product / Service
    PropStory – Business & Revenue Model
    PropStory – Customer Acquisition
    PropStory – Growth and Revenue
    PropStory – Funding
    PropStory – Advisors and Mentors
    PropStory – Competitors
    PropStory – Future Plans
    PropStory – Founder’s Advice
    PropStory – FAQs
    PropStory – Conclusion

    PropStory – What is PropStory?

    PropStory is a group of Entrepreneurs, Marketing professionals, Designers & Engineers who are passionate about enlightening people about the dos and don’ts of Real Estate in India. The experts personally visit the top properties in any city and then put up an extensive described post regarding the property on website. It is a Data-Driven Platform for Real Estate Buyers & Investors.

    PropStory – Founders and Team

    Bhagwandas Paliwal & Ashish Mahajan Co-founded Propstory.

    Ashish Mahajan – Co-Founder, PropStory

    Both are engineering classmates from IIT Bombay, Batch of 1999. However, both had pursued very different career paths for over a decade before coming together to set up the company in the year 2015.

    Ashish is deeply networked in the real estate and finance industry. He has worked in the real estate investments division at private sector lender IDFC in Mumbai for over 7 years. While Bhagwandas is a technocrat and has a background of handling complex technologies at Yahoo, AOL and other MNCs.  

    Propstory Team

    We are currently a 10 member team with people from varied backgrounds – engineering, finance, accounting, architects and commerce. We are a pretty lean but highly efficient bunch of people working from Mumbai and Bangalore.

    PropStory – Founder’s Advice

    One must explore their own capabilities beyond regular education.

    While we had the support of parents who were very open-minded, probably an attitude to take risks was an essential trait we missed early on in our lives.

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    PropStory – The Idea

    When Ashish used to work with a top-notch real estate firm, he found that it was difficult to asses different properties and projects.

    The data was made available from different sources but were not quite unreliable. The big disconnect was the real market feel of the person looking at a project. This is the same problem most homebuyers face. Further, in such a crowded market for any developer stand out it was essential that his marketing is focused on the buyer sets most likely to qualify for his project. This was the problem I wanted to solve. – Ashish said.

    I started a portal where I used to publish stories about property and areas in Mumbai. Soon we also started to cover Delhi NCR, Bangalore, Pune, Hyderabad and to some extent Chennai.

    From few hundred visits a day we clock close to 100,000 visits a month now. Over time we established a strong business in digital marketing driven by our content.

    We were narrating our own experiences of visiting properties and discussions with real estate companies. Essentially it was a project “Story”. Thereby it was only apt that we call it “Propstory”.

    PropStory Logo

    While the realty sector is a traditional one, we wanted a simple logo with younger buyers in mind. One which can appeal digitally and is more vibrant. This allowed us to create our logo which has a bright colored theme and represents the cityscape.

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    PropStory – How It All Started?

    Initial days were quite challenging – for we had to convince the industry to look at content marketing favorably. The otherwise strong focus on achieving sales at any cost or physical advertising was something we could not have changed in a day. Further, we wanted the developers to become more open in sharing data and facts on the properties. These were not easy things to do.

    Moreover, we were making a business out of it; thus we required sponsorships for our activities, again a thing never heard of in this space. Slowly and gradually we saw traction for the huge players in the sector and this is where we started seeing good traction.

    PropStory – Product / Service

    Our content development and marketing services bring us most of our revenues. We market the right content and disseminate it efficiently to drive in most quality inquiries for realty firms. Our methodology helps a property buyer understand the project in a better way than any other conventional sources.

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    PropStory – Business & Revenue Model

    Our revenue comprises sponsored content & digital lead generation activities. We are entirely focused on the real estate sector in India (at this stage). Our proprietary marketing models have helped our clients derive the best output from our digital activities.

    We have recently built a much-needed business application to smoothen the pre-sales process in the real estate business. We are currently in the test phase before commercializing the same.

    We earn revenue from content marketing & digital marketing campaign for top real estate firms in the country. We expect to commercialize a new business application soon, and that will be additional revenue for us.  

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    PropStory – Customer Acquisition

    We used various social and business networking tools such as LinkedIn, Facebook pages & references to connect with the business leaders in real estate. From there on we convinced Mumbai’s leading developers to work with us. That was the start of our monetization journey.

    PropStory – Growth and Revenue

    Our major business is driven from 5 cities – Mumbai, NCR, Bangalore, Pune & Hyderabad. We believe these markets offer the most value in the real estate sector i.e. 60-70%. Thus, fortifying in these cities is crucial for us before moving to smaller cities and towns.  

    We have grown our revenues from INR 1.5 lacs in FY 16 to INR 1.80 Cr. in FY 18 and are on our way to rise to INR 5 Cr in FY 19. Various leading realty firms work with us and consider us their important and dependable digital partners.

    PropStory – Building Work Culture

    Knowledge sharing is very essential for us. All members talk to each other on different challenges at work. And as such there are no barriers to approach other team members or even founders.

    We frequently arrange meetups for Mumbai and Bangalore teams to work together, so that the understanding, rapport and synchrony between all increase. While we are a fast-growing startup, providing work-life balance to our employees is also a top priority.

    PropStory – Funding

    After bootstrapping for nearly 18 months, in 2017, PropStory raised an angel round of $120,000 led by Abhishek Bhatewara, a member of angel investor platform Mumbai Angels; Vivek Shah, head of investment banking at Chinese securities and brokerage major Haitong Securities; Suraj Saharan, co-founder of logistics startup Delhivery; Paras Arora, co-founder of Tea Halt, a tea-based restaurant chain; and a few other angels participated in the round. We have grown over 10 times since then and also diversified into more business lines.

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    PropStory – Advisors and Mentors

    We have been mentored by a few industry leaders including real estate developers and financiers. This helps us to have a better and greater understanding of the business needs and orient ourselves.

    PropStory – Competitors

    While there is no direct competition we compete with a variety of players in the market consider the larger realty sites. Digital agencies and classifieds like Quikr, 99acres may be considered as closest. Though the differentiation is that PropStory is purely a content marketing platform, and does not engage in any kind of transactions

    We have a strong focus on content that no one else has. We are driving audiences to our strong factual content acquired from project sites.

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    PropStory – Future Plans

    We plan to enter at least 2 international markets with our content marketing services. We are in discussion with developers at Dubai for some time now. Over the years to come, we will set up processes to automate the data collection procedure. We have also developed a new business application which is in its testing phase right now.  That is likely to drive rapid growth for us.

    PropStory – FAQs

    What is PropStory?

    PropStory is a group of Entrepreneurs, Marketing professionals, Designers & Engineers who are passionate about enlightening people about the dos and don’ts of Real Estate in India. It is a Data-Driven Platform for Real Estate Buyers & Investors.

    Who are the Founders of PropStory?

    Bhagwandas Paliwal & Ashish Mahajan cofounded Propstory.

    Who are the competitors of PropStory?

    Digital agencies and classifieds like Quikr, 99acres may be considered as closest. Though the differentiation is that PropStory is purely a content marketing platform, and does not engage in any kind of transactions.

    How much revenue does PropStory earn?

    Their revenue has grown from INR 1.5 lacs in FY 16 to INR 1.80 Cr. in FY 18 and are on way to rise to INR 5 Cr in FY 19.

    How does PropStory make money?

    It earns revenue from content marketing & digital marketing campaign for top real estate firms in the country.

    PropStory – Conclusion

    PropStory is a content platform for the real estate industry. The organization has been floated by professionals with several years of experience in Real Estate investing, private banking, and internet technology. The Team is further supported by professionals with real estate, income tax, and legal backgrounds. All involved have graduated from premier institutions including IIT, ISB, and ICAI. Propstory have become the most dependable marketer in Indian Real Estate in less than 2 years since they started this journey. This is just the beginning!