E-commerce companies and aggregators in the real estate space are struggling with their business and have yet to figure out ways to make enough money despite pumping millions of dollars into their businesses, The Financial Express reports.
The HDFC Realty team is hoping their hybrid model combining on-line and off-line model that co-opts the broker will work in India.
“Instead of fighting with brokers. We will collaborate with them,” says Vikram Goel, CEO, HDFC Realty, an HDFC Limited company.
HDCF Realty plans to scale up by tapping into the network of brokers across the country and using them to interface with buyers. Technology based with human interface is the only opportunity for the real estate industry in India, he says.
So they will get brokers interested in their business model. HDFC Realty will be sharing with brokers around 70% to 80% of the brokerage and will only take a minor share, says Goel.