The real estate sector is known worldwide for contributing to economic activities and the country’s development. the real estate sector is traditionally categorized as one of the largest employers in various activities and processes such as construction, design, development, advisory, financing, sales, etc. The real estate sector is emerging with promising opportunities for entrepreneurship over the last couple of decades.
The real estate sector is now thriving with innovation, making it one of the fastest-growing fields. Real estate entrepreneurs especially in proptech, are taking advantage of the stream of new technological developments to digitalize the property industry. Numerous real estate companies are changing the existing systems and processes of the industry with innovative business models.
Proptech entrepreneurs offer several solutions for the real estate markets. Numerous property search tools, innovative buying solutions, new renting practices, selling alternatives as well as new concept agents, and landlord solutions offer customers easy access to reviews, visuals of how the property looks every season, tools to rate the property’s infrastructure, and many more such benefits.
App and web-based listing platforms for residential properties provide various search services to house owners and house seekers without or with minimum brokerage fees and hidden charges.
Such companies enhance the renting and selling processes by offering a variety of innovative solutions to owners and seekers with no brokerage fees or very little in the way of hidden costs.
In this field, many ventures like Covie, Awfis, and Smart work convenience of co-working spaces to businesses. There are also companies that are providing home designing and buying application functions and many provide a 3D view of the accommodation, which helps the consumer have a better idea of the space.
Working-class people and students are the common groups that usually search for accommodation within their budget. Some the companies such as Zolo, Covy, and Stanza Living are providing co-living accommodation facilities to students and early professionals. Similarly, there are companies providing solutions in the field of Mortgages.
In India, the real estate market sector is huge, lot of companies today are trying to diversify their operational locations and services to target the consumers that will be using their services from co-living to co-working.