Magicbricks launches new services for transparency in property listings

Magicbricks today announced the launch of several innovative services aimed to help the consumers in property buying cycle. The new services would bring in transparency, decision-support and personalised human assistance to a property related decision.

Amongst the new services launched there are PropWorth, Advice, Magicbricks Forum and MB Premium, which are set to make home buying process a hassle free and a fruitful experience.

"We've built MB into India's largest and most successful property marketplace. We're happy that consumers now choose MB as the first port of call when they initiate a property transaction. However, the opportunity in this business is well beyond solving the listing discovery problem. We've now launched a bunch of products that help a consumer at different stages of the buying process," said CEO Magicbricks, Sudhir Pai.

PropWorth aims at becoming the de-facto price benchmark app for all buyers or sellers and agents across the country before finalizing any property transaction.

People with no intention to buy/sell property can also use it to figure out worth of their, neighbor's or relative's property. Basically, PropWorth can be used to know the right price of any property anywhere.

The next in line is the feature of Smart Search. The Smart Search tool comes handy in the pre-discovery phase. Basis inputs, the tool shows list of localities one should start their search with along with other pre-computed values such as current rates, demand of the locality, supply of the locality, how developed the locality is, what kind of growth the locality has been experiencing, rental yields and returns the locality has been witnessing.

Magicbricks also enables MB Forum, a new dedicated place to get your queries answered from industry experts where people can join for free and stay updated on latest discussion through e mail. It has dedicated discussion group pages for every project and locality classified into relevant segments such as project approvals, price and ROI, construction quality, possession related etc.

"Each of these services uniquely addresses specific pain areas in the buying cycle of a consumer. The aim behind the launch of PropWorth, Advice, Forum and MB Premium is to improve each of these steps of the home buying experience. From a transparent price-discovery of a property, to having a forum to discuss property queries to offering premium personalised paid services, we believe such initiatives empower the customers to make better informed decisions," added Pai.