Quikr launches its real estate vertical
By: Creative Brands Bureau | Mumbai Dated: September 09, 2015
Quikr, One of India’s leading cross category classifieds platform where people connect with each other to buy or sell goods and equipments online has now extended its services with the launch of QuikrHomes. Quikr has various segments for cars, jobs, electronics and education.
With over 2 lakh real estate transactions on Quikr, QuikrHomes will provide customer engagement and lead management tools for builders and brokers. It will also provide a complete living experience for home seekers in the form of additional information about the neighborhood, schools, malls, hospitals, parks and walking areas.
The company first mentioned in April that it would launch such a real estate focused portal within 2-4 weeks of the announcement, however the launch seems to have been delayed till now. Interestingly, Quikr had said then that the value of real estate related transactions was worth 50% of all the transactions on the platform. It said that every month, there were 2 lakh real estate related transactions on its platform, and that the site had (at the time) 20 lakh active real estate listings.
“The number of areas where we had a large scale of business had become one of the biggest open secrets in the Indian internet market. Verticalization was an obvious logical step to unlock this secret and have our user’s further benefit from the true breadth and scale of our platform. Our real estate business has grown three times in the last two years and with the dedicated focus on QuikrHomes, we are confident we will at least double it every year for the next three years”, said Pranay Chulet, Founder & CEO Quikr.
Talking about the potential of the market, Manish Sinha, Head of QuikrHomes said, “With Indian real estate marketing moving online to capture a $20 billion market coupled with our cross category platform, we are uniquely positioned to capture the market share for our homes vertical. Quikr already had the largest number of individual led listings for real estate category especially in the metros and had a very large number of real estate developers marketing their projects well before the idea of QuikrHomes was born.”
As the pioneer in the cross-category classifieds space since the company’s inception in 2008, Quikr is the only classifieds platform in the country to launch separate verticals for important categories. It recently launched QuikrCars, a vertical sharply focused on all kinds of automobiles. A market leader with the largest user base and category footprint in India, the company has consistently brought out innovations which are needed in the Indian market, including a Missed Call service for new mobile internet users, Maximum Selling Price (MSP), QuikrNXT, and payments and delivery for C2C transactions.
As of now, the portal lets users search for residential, commercial or agricultural properties to either buy or rent, in various cities like Pune, Delhi, Chennai, Bangalore, Mumbai and Hyderabad. Users can search by locality, project or builder, and then further sort the results based on price range, property type, number of rooms, area, amenities, furnishing, ad posted date and availability of pictures of the property. Quikr’s real estate portal is also currently active, providing users with the same information, albeit with a less appealing UI.
While this seems like the next logical step for Quikr, the Mumbai-based company is entering a highly competitive sector. Last year, the online real estate segment had attracted a lot of funding and witnessed a lot of product experimentation. Quikr, which itself raised $150 million in April, $60 million in September 2014 and $90 million in March 2014, will be up against the likes of Housing.com, 99Acres, MagicBricks.com and CommonFloor among others.