Do online website property portals kill the brokerage business in real estate sector in India?

Q: Well, there has been incidents when the tenants happen to reach the owner of a property directly in spite of the fact that he/she get to know the property through an agent.

The deal is struck without the agent knowing how it happened. Only the enlightened who are fairly knowledgeable about the whole gamut on online classified business understand the connection.

That makes me ask the question; do online website property portals actually kill the middlemen business in real estate in big cities such as Chennai?

GK,

16th March 2013

Rentals in Chennai

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Well you've said it right. Online property portals do indeed help facilitating the connection between seller, buyer and the broker.

But there has of late been upsetting moments when people looked up for properties online and complained that the adverised properties had either been sold out or the websites have left them hanging on forever without knowing that the properties were gone.

Do you think it's time the online portals had put up a mechanism by which the sold-out properties were promptly taken off? That I believe would increase the trust between seller, buyer and broker who majorly do business online.

Thank you.

GK,

20th March 2013

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I send you for that

gutch.aadi, Apartment Resident

22nd March 2013

*
I second you for that

gutch.aadi, Apartment Resident

22nd March 2013

Hi..i think it is just a coincidence..we think alike. I hope my answer has helped you to understand the importance of online website property portals and how they empower owner, broker and the tenant.

Lekshmi,

20th March 2013

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Well, while I appreciate the replies from Sam and Lekshmi, I've got a quick question.

Are Sam and Lekshmi one and the same? For they have spelled the word 'professional' incorrectly with two 'f'?

Please disregard my question if it's just pure coincidence.

Thank you.

GK,

19th March 2013

Comment

well i would like to tell you my experience, i m from Mumbai and had to shift to Bangalore urgently, so i connect a broker through commonfloor and he got every thing done for me, he emailed me my tenant agreement, got my house cleaned and all this happened within the time span of 4 to 5 days. he showed me all the options on the website, i was really helped by map based search and once i finalized the property the broker connected me to the owner through the phone and also helped me in bargaining for the deposit. it is just because of the commonfloor.com for connecting me to the broker and the proffesionalism of the broker who did all the work for me, i shifted to Bangalore with a weeks time. I believe such type of property portals are not killing the business for anyone but are empowering the owner, broker and the tenant empowered.

Lekshmi,

19th March 2013

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No, i dont believe so, rather i would say that they are facilitating the owner , broker and the tenant to reach to each other if they want to avail the services. moreover , i would also say that the existence of such property portals is making the broker market more proffesional. even the new broker are getting fair opportunities to grow in the market by getting clients through the property portals.

Sam Pawel,

19th March 2013

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