Just a click away
The Internet has emerged as new terrain for real estate business with increasing presence of property portals. The companies and agents that are dealing with real estate and rental services are staring their own websites or collaborating with web-based companies.
Many of the property portals are operating on classified model, where sellers post the proposals for prospectus buyers and tenants. While the buyers are looking for more transparent information and legal services, sellers are looking for better deals.
The valuseprops.com, a Chennai-based property bank, has launched the information services of the assets available for sale and rent. “In our business model, we have an active website and a large network of 5,000 agents in Hyderabad, Chennai and Bangalore,” said Ch. Sumedh Reddy, the CEO of the Valueprops. The portal described itself as property bank instead of portal as it is offering not only information of properties for sale and rent and also agent services until the deal gets done.
Free of cost
The agents and individuals can post their proposals on the portal for free of cost. “Since we don’t charge money, we get more properties posted on our website unlike other classified portals. Each agent is posting 40 to 50 assets, which he cannot do on paid classified portals,” he claimed. The process at valuepros.com is transparent as the commission from deals need to be specified in the posted information. The portal collects fee from sellers and house owners under revenue sharing method once the deal is through. “Our portal saves the money of both sellers and buyers. The sellers can save their money as they get free advertisement and buyers can get the properties with paying nominal or almost no commission,” Mr Reddy said.
The property bank is also opening franchise offices in Hyderabad, Chennai and Bangalore to offer agent services to customers. It has opened five offices in the city already. Costumers can directly walk into these offices to enquire the availability of either rentals or assets for sale, for free of cost.
Franchise offer
The Valueprops.com is looking forward to open franchise offices in 25 cities with in a year with 10 to 20 offices in metros. “One can open our franchise with an investment of Rs.2 to Rs.5 lakh and an office on main road in good locations. These offices can achieve breakeven with in six months as they get 10 to 25 per cent of the fee we charge from the parties. They will be our centres of activities,” said Mr Reddy.
K.VIJAYA BHASKARA REDDY
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