There are a number of real estate and property websites in India and it is difficult for an investor to decide which one to choose. The real estate slump in India has also hit the website industry as well and quite a few have scaled down or shut shop. The main problem with the Real estate websites in India has been that they tried to ‘do it all’ and in the bargain are unable to provide specialized services in particular verticals to an end user.
Things are in for a change, real estate websites are now coming up which concentrate on a particular vertical and are able to provide customized services to a user. As an end user there is a needs to understand what exactly is one looking for, for example whether residential or commercial property and further whether in the primary or secondary market (resale), as this would decide which web portal to utilize and for what service. It does not make sense to utilize the services of a real estate website which does not specialize in the vertical one is looking for. The next question which comes to mind is, how to decide which is the ideal real estate website for a particular service or vertical. As an end user one needs to consider the following factors: -
(a) What is the authenticity of the data being presented; this can be verified by checking data across two or three real estate websites. As a test case one can even approach one odd builder or broker and check out the data. Once the reliability quotient is established one can proceed further.
(b) Check out the ‘technology quotient’ of the website. Ascertain how much of analytics are being applied to represent data in an ‘easy to comprehend’ form, which helps a user’s decision making process.
(c) Does the real estate website provide a method in which as a user, one can shortlist property in a structured manner?
(d) What all services does the property website provide in terms of analysis, search, shortlisting, site visits, on ground guidance, customized reports etc. See if it meets all your requirements.
(e) As a real estate investor one has a number of queries, like, where should one invest? Let’s say out of two localities in a particular city which one is better and why? Which are the ideal real estate destinations in India? Which project is better than others and on what grounds? Or, how do two or more projects compare to each other? Etc. The real estate website which can answer the maximum number of your queries is obviously the best one.
It is time that the real estate and property websites in India realize that an investor today is much aware of ground realities, due to the availability of information on the internet and therefore is on the look-out of more and more logically analysed inputs. Unless a real estate website is able to satisfy an end user’s quires with well researched data, it will be difficult to survive in days and years to come.