Artificial intelligence (AI) and machine learning technology have made the real estate industry their home in recent years. Thanks to the nature of the industry, brokers and intermediaries are continuously searching for new and more efficient ways for a tenant to look and buy or rent a house. In India specifically, brokers are incredibly popular in the sector.
Looking to change this, Saurabh Garg, Amit Agarwal and Akhil Gupta founded NoBroker.in in early 2014. As the name suggests, the site was aimed at removing brokers from the real estate market as they do not add value to the real estate market. Instead, brokers function on selfish means and do not give the customer a good match for their house search.
NoBroker entered the market with an aim to introduce an AI/ML solution to the widespread broker problem in India. Today, it is one of the leading data-driven real estate companies in India, with over 1 lakh (1 million) properties being posted over the past month. The website has also introduced various AI-based products such as Rent-o-meter, livability score and transit score to enable a democratic house search for consumers.
In the early 2000s, the founders saw that services across verticals were beginning to move into hosting a website. While these platforms had the branding of the companies offering them, they were just a website who connected users with brokers with no real use of data. This drove them to create NoBroker, to eliminate the broker altogether from the real-estate process, and adopt a data-driven approach to deliver useful information to the consumer.
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