Yesterday I thought to search the property for me in Delhi. I googled like , 3 bhk in new delhi for rent . soon there were thousands of results appeared in front of me in matter of seconds. I seen few new names in the first list of 10 itself, few results were repetitive.
My curiosity got bigger and I searched few more pages, actually result after page 6-7 were, irrelevant but there are too many property portals I came across which are quite new.
I am not an expert of real estate but I seen in recent time so many mergers of real estate portals ,that is nothing but the failure of those portals after a great show but still I was wondering why there are so many property portals when people say, real estate market is on slump right now, I tried to understand the uniqueness of the portals which existed and are relatively new.
I seen few new phenomena on real estate sector, few portals were merely meant to provide information and were copy of market leaders. Few were really unique, they deal with clients and claim their self broker free, really? Actually not, But still they are good choice to the end users. On other hand there were some portals which give information which consists the information from other portals; they were mixed bag of the information from different portals, exactly like affiliate marketing sites. Some were purely in commercial segment.
On other hand few portals went missing which I seen last time; which is quite understandable because this market seems so competitive. But still I tried to look out what is the reason of so many portals in and out of ecosystem.
When it comes to entry of new startup in real estate, there is one thing very clear, even though real estate market in slump there is still ample opportunity to grab.
Now what could be the possible reason of exits? Some startup is copying the already established idea means that team is wasting it’s own time, I am sure each new comer should have something different to showcase, that’s why new portal is in market.
The marketing stuff and the market budget is also a big obstacle on success of such startups, because competing with established player means competing on marketing front too. Indian government planning to support the startups ecosystem is not enough, also that too is not properly accessible.
But most problematic scene is that people tend to compare new startups with established players. But why so? If there is search bar on first page then , is it mean that portal is copy of established player? What search engines showcase on first page, if not search bar? Why we can’t take a look on those by keeping everything aside. Also the startup must focus on conveying what exactly new with them and keep pushing on those points by coming out of fear of copying of new feature by established payers? Even if they copy you it’s win win situation for you.
In India people tend to follow winners but if you have come up to fight with a king ,using new weapon then apply yourself there with all you have or don’t come to battle.
All the best to the startups,it's very challenging !
A passionate writer,reader and learner...