Real Estate has been growing with significant alacrity in the virtual domain. To augment the same & differentiate its stand, Online Realty Agent MagicBricks.com has come up with a different but related offering.
Attempting to make the online realty market more appealing to the deal hunting online shoppers, the web-portal has introduced a time-bound ‘Deals’ Section. Valid only for the next 20 days, registered users will get to select from over 400 assorted property deals that come attached with lucrative add-on schemes like assured returns on buyback, no installments till possession, 0% brokerage, flat discounts, cash discounts, pre-launch offers, free interiors, fully equipped modular kitchens, complimentary reserved car parking space.
Why the need to promote so extensively?
Indian realty has been growing pretty well. However, so has the financial burden on the buyers. Under such circumstances, the decision to procure property becomes increasingly difficult to make. The online realty space has been witnessing increasing competition. Sites like 99Acres, Makaan, IndiaProperties, Housing Co & others have been working hard to introduce some nifty & user-relevant features. Some even have mobile apps that locate nearby properties based on the current location of the potential buyer.
Do such schemes work for such a buying decision?
According to Sudhir Pai, Business Head, MagicBricks.com, it does. “Our newly launched DEALS section has attracted a huge amount of user interest and is doing exceedingly well. In about 10 days since we launched, we have attracted more than 2 Lac visitors to this section and generated upwards of 50, 000 enquiries – no other media platform has ever managed such a large celebration of property deals before. We hope to bring over 500K visitors to this section over the next 3 weeks.” he said.
With such quirky marketing & incentive techniques, MagicBricks may have the potential to alter the very perception of the segment from being a very serious activity to merely being part of a routine online purchase. What do you think?