[caption id="attachment_56223" align="alignleft" width="349"] PlaBro India Co Founder and CEO Aaditya Jain is a speaker at this year's Property Portal Watch Conference in Bangkok.[/caption]
PlaBro India co-founder Aaditya Jain's platform recently enlisted 10,000 agents in three months, which he says is just the start. And Jain plans to tell this year's Property Portal Watch Conference in Bangkok just how it was done.
Jain, who got involved with Property Portal Watch through the likes of Indian property portal leader Vineet Singh, former business head of 99acres.com and adviser to Housing.com, says his company is the first real estate start-up of its kind in India.
It operates using a mobile application, PlaBro, which offers an engagement platform for Indian real estate brokerage firms, property agents and property dealers to connect, network and share information relating to real estate, housing, commercial properties.
Given the deep penetration of internet access in India and the use of advanced technology by agents, Jain plans to share the challenges and opportunities in emerging markets like India with this year's Bangkok delegates.
"There are lot of difference between emerging and developed markets in terms of their modus operandi," Jain tells PPW. "The modus operandi for emerging markets opens unique and big opportunities for networks and associated tools."
Founded in March 2015, Plabro's core-services comprise building networks for real estate agents and removing information asymmetry in terms of availability and requirements. Investors include the founders of Flipkart, Sachin Bansal and Binny Bansal.
"In India, a real estate transaction typically requires many agents who create a chain of references," Jain explains. "We aim to make the process efficient by giving easy and complete access to the information."
Most recently, PlaBro introduced reverse auctions to make the real estate transaction efficient.
"We float a customer requirement to agents and they get back to us with their best prepositions," Jain says "As a result, customers get more complete information from the market and agents have better conversion rates which is a win-win for both."
Jain predicts the real estate industry is posed to change completely in terms of technology.
"A couple of years down the line as virtual reality progresses, we'll see portals all revamping to implement the new technology,' he says.
"Strategy and fast execution is going to be the key. In particular portals will need to strategise for the use of new technology and making important stakeholders stick to their platform.
"Our vision is for PlaBro to be a part of every transaction in India," Jain adds. "We're is moving towards this goal by providing agents with various tools, like reverse auctions, to make their transactions more efficient."