Ten Questions With Pragati Dhingra, Founder at NI Bricks

November 7, 2024
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"One thing readers might not know is just how competitive the real estate agency market in Northern Ireland is. You’ll find agencies offering premium, white-glove services at a fraction of the cost."

In a market where the two strongest real estate portals have just merged to create what—from the outside—looks like a monopoly, your first instinct would be to avoid building a new portal in that market.

But in Northern Ireland, Pragati Dhingra is taking the opposite approach—launching his new portal, NI Bricks. With a focus on pay-as-you-go pricing and becoming a growth partner for agents, Dhingra believes there is a big opportunity for a smaller, challenger portal to offer a bespoke, user-friendly model.

Online Marketplaces asked Pragati about problem-solving, taking on massive competition, disgruntled agents, and more...

 

Hi, Pragati. What problem does NI Bricks solve?

NI Bricks is focused on driving the digital transformation of real estate agencies. Increased competition is putting downward pressure on agency fees, while operational costs continue to rise. Most traditional real estate agencies don’t have the resources or expertise to build advanced, AI-driven digital platforms. For instance, developing a digital voice assistant or an automated, robotics-based inventory system would be far beyond the capabilities of most agencies.

We aim to solve this problem by providing end-to-end digital solutions, from sourcing new deals to managing post-sale services and upsells.

Pragati Headshot

Why start a portal in Northern Ireland right now?

We've been hearing growing concerns from agents about challenges in their business relationships with the market-leading platforms in the country, all of which play a critical role in the local ecosystem.

The formation of Homes NI is a clear indication that agents are looking for genuine alternatives to the dominant incumbents. While I believe that Homes NI is unlikely to succeed—unfortunately making much of their investment a potential loss—it sends a strong signal: there has never been a better time to launch a new PropTech venture in Northern Ireland.

Agents are actively seeking new, innovative platforms. NI Bricks meets that need.

What is the feeling among agents in Northern Ireland after the two previously biggest portals merged recently?

The recent merger between PropertyPal and PropertyNews in Northern Ireland has caused significant concern among agents. Many feel a sense of betrayal and powerlessness, as this consolidation has essentially eliminated established competition. This has heightened their worries about the lack of alternatives and the potential for unfavourable business practices from such a dominant player in the market.

 

What is your business model and pricing strategy?

We've heard numerous complaints from agents about having to pay high-tier fees, even during slow months, and we aim to address that.

NI Bricks operates on a pay-as-you-go model. After the initial three-month free trial that we are currently offering, we charge a flat fee of £15 per listing, which is 50% lower than the incumbent's rate. This ensures fairness and cost-effectiveness, as agents only pay for the listings they actually use, without being locked into expensive membership tiers.

We also offer a free basic CRM on the backend. Our advanced analytics and AI features, such as the digital voice assistant, will be available on a subscription or pay-per-use basis as we roll them out, ensuring that our pricing remains both economical and fair.

How do you plan on growing listings volumes?

We plan to grow our listings by helping our customers win new business; a steady flow of new listings is vital for agents. To support this, we’re partnering with a company to offer online property valuation services. This allows potential sellers to get an accurate idea of their property’s value before engaging an agent. With the seller's permission, we share this information with select agents on our platform using a data-driven matching process to connect them with the agents most likely to achieve their desired outcomes.

This approach not only helps agents on our platform secure new business but also ensures NI Bricks becomes a growth partner for agents.

 

What is NI Bricks’s biggest challenge?

With PropertyPal’s substantial market share and the recent merger with PropertyNews, our key task is convincing agents and property seekers to try a new platform.

Overcoming the inertia of established habits and building trust in our brand will require a compelling value proposition, exceptional customer service, and effective marketing to highlight the unique advantages of choosing NI Bricks.

 

This market will be a tough nut to crack. Aren't you worried about the competition?

PropertyPal represents the biggest competition for us. They’ve been successful for over a decade, which is commendable, but their pace of innovation has stalled in recent years. This creates an opening for NI Bricks to position itself as a modern and viable alternative, offering agents the tools they need to thrive in a digital-first market.

Homes NI, on the other hand, is operating with significant risks. They are hindered by a lack of leadership, vision, and sustainable funding. While the idea of agents owning a stake in the business might sound appealing, in reality, majority ownership concentrated among a few agencies can lead to conflicts of interest. For example, Homes NI doesn’t have a "Find an Agent" page—likely because they can’t decide who would appear at the top of the search results without creating friction among the stakeholders.

There are also legitimate concerns about their pricing structure, where agencies with only a handful of properties pay the same as those with hundreds. This model not only lacks fairness but could alienate smaller agents, who are critical to building platform loyalty.

Additionally, there are serious questions about data security—how can agencies trust a platform where their business data could be accessible to competitors? Running a property portal without tracking customer activity is nearly impossible, yet this raises red flags for agents concerned about protecting their competitive edge.

Lastly, without strong leadership or technical expertise, especially in AI, Homes NI will struggle to innovate and stay competitive. Their narrow focus on Northern Ireland also limits their scalability and appeal to investors looking for long-term growth. In contrast, NI Bricks is building a scalable platform designed for expansion across the UK, the US, and potentially other international markets.

While I tend to focus on facts, I can’t help but feel a sense of regret for the customers who stand to potentially lose their investments in Homes NI. Their motivations were undoubtedly driven by a need for change, but it’s unfortunate that their investment may not deliver the financial results they hoped for.

While we are mindful of the competition, our priority is delivering unmatched value to agents and property seekers in Northern Ireland, making NI Bricks the preferred choice in the market.

 

What is one thing our readers might not know about but would probably find interesting about the Northern Irish market?

One thing readers might not know is just how competitive the real estate agency market in Northern Ireland is. You’ll find agencies offering premium, white-glove services at a fraction of the cost that a larger, more commercialized service like PurpleBricks would charge for a much more basic offering.

Our platform helps potential sellers and landlords connect with the right agency—one that can deliver the experience and outcome they’re looking for, while also saving them a significant amount on fees.

 

What is NI Bricks currently working on?

We’re collaborating with agencies to explore various AI-driven features for future releases. These include AI voice assistants and inventory-recording robots, which will streamline agents' operations. We’re also in discussions with several companies to integrate their technology into our platform—examples include instant online property valuations and tenant referencing services.

 

What is the most common request from clients?

The most common request we receive from clients is, overwhelmingly, for an alternative to PropertyPal. The strong anti-incumbent sentiment among agents is what gives us the confidence and drive to take on such an established near-monopoly in the market.

November 7, 2024
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

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