(Pic courtesy: Nirvana Venture Advisors)
LeJagah.com – We have showcased our start-up on this platform few months ago.
Thanks to Alok, Asha & feedback from Rodinhooders.
Our Vision: Helping prospects from ‘search to possession’ of property.
Our Motto: Providing platform for real estate sellers & buyers.
Property acquisition broadly has 3 steps
- Search
- Assessment and verification (Due diligence)
- Transaction & possession
Search part: Approximate 40-50% prospects buy, rent or invest in property after visiting digital platform but only for information. This is going to increase in next 5-10 years to 60-80%.
Assessment & verification (Due diligence): Trust is the most important factor in property dealings and hence people take help of known & trusted broker/agents; more so for accountability.
Transaction & Possession: The sector lacks professionalism and accountability. The main cause is lack of awareness in both prospects and major portions of property agents.
LeJagah.com is right now focusing on search part of the process with respect to sub-locality level because we believe location, location & sub-location is the most important factor in real estate.
Online & Offline strategy: The brokers / agents are the major players of the sector but their image in the market is not good compared to other professions. This is not true in developed countries. This is primarily because of our sector being unorganized. Unlike other new real estate portals which try to bypass the realtors, we try to include them in the growth story. We would be addressing this issue with offline measures like seminars conducted at sub-locality level for property service providers. This may help us achieve a strong holding on the market compared to other players.
Online we would be educating prospects through our portal. We would be making the agents / brokers efficient with mobile applications.
Marketing & sales: Online marketing will be minimum expenditure through social media FB, Twitter, LinkedIn & SEO.
Offline strategy is making agents / brokers our brand ambassadors in the market. They are a tough-clan to be managed.
We would be entering the market with a lot of apprehension but having a flexible approach with the zeal to succeed.
Optimum funding for LeJagah.com: Taking property buyers to the right place
[Ps – if you are accessing this via mobile, click on linkedin logo (IN) & read it via the slideshare site. The experience is better :-)]
Team: LeJagah is looking for team mates with entrepreneurial mind set for our operations, administration & marketing/sales preferably with 2-7 years’ experience.
Business model: Our bottom line is to remain in the market for long time to come and have a ‘mean & lean’ approach with the funds being used optimally & astutely. We would like to have operations and scalability of revenue model.
Twitter: @lejagah
Facebook: FB LeJagah.com
Our Contact: 9702675975 & info@lejagah.com
asha chaudhry
hey vinayak,
very interesting to see you post in funding pitches! all the very best.
i like how you put “Offline strategy is making agents / brokers our brand ambassadors in the market. They are a tough-clan to be managed.”
you will need to create a mini community via whatsapp gps. not sure if brokers would engage in a fb gp! but yes, they need to be your brand ambassadors. do read on how to reward brand ambassadors – there’s a lot of material available on the web 🙂
Vinayak Hanchate
Thanks Asha for your suggestion & back support. Yes certainly i will look up for brand ambassadors on web…
Alok Rodinhood Kejriwal
The rates (for renting and buying) seem to check out!
Hows it going? What’s traction like
Vinayak Hanchate
Yes Alok, the rates are nor going up or down anymore. And with Real Estate Bill Regulation in picture lot of inventory need to be sold out sans the reputed developers… Renting rates may rise a little (5-10%) but lot of it is done with. Yes but overall it is good market for buying / investing at least for coming 6 months. On the table the rates may drop down further.