A disruptive force in the real estate sector, NoBroker uses innovative technologies that connect property owners, buyers, and renters on a single platform. The startup was founded in 2014 and claims to handle around $2 Billion worth of transactions each year and has helped real estate customers save over Rs. 5,000 crores in brokerage. The platform connects flat and property owners with tenants and buyers directly through their platform, thereby making buying, selling, and renting of properties simpler, transparent, and affordable.
Company Highlights: NoBroker
|Founders-||Amit Kumar Agarwal, Saurabh Garg, and Akhil Gupta|
NoBroker Startup Story
Saurabh Garg, Co-Founder and CBO of NoBroker said in an interview that they established NoBroker when they realized that the real estate search and discovery process was fragmented, opaque, inefficient, and full of hassles for the customer. The idea first came around when they personally had awful experiences with several brokers. It was very difficult to connect and find anything online. They also mentioned that brokers subject customers to biases, pressures, and manipulations.
He further said that, “Through NoBroker.in, we wanted to empower Indian home-seekers to find a home of their choice in a hassle free manner without paying a hefty brokerage. We did not have a prototype or a model to copy from as this was a solution built for a problem unique to Indian real estate. Brokerage has been an accepted norm for generations and therefore, penetrating the market with as disruptive a solution was not easy. The idea was simple yet bold but we knew that there was a huge scope for it. We launched the website in March 2014. Once the customer understood the unique proposition, there was no turning back for us”.
Business Model of NoBroker
The platform acts as a digital peer-to-peer platform that allows sellers and buyers to connect directly without any difficulties which do not involve a broker. The platform provides a subscription business model for customers and buyers who are looking to buy, sell, or rent.
Revenue Model of NoBroker
NoBroker has several revenue models, such as the Freemium model for tenants, Freedom Plan, Relax plan, and MoneyBack plan. It also provides home services like packers and movers, home cleaning, house painting, and a lot more.
Awards and Recognitions of NoBroker
- A part of ‘Champions of Change’ with the Prime Minister of India, which was arranged by the NITI Aayog.
- Recognized as the “Coolest Startup” by the India Today Group.
- Received recognition from the government of Gujarat as the most promising startup in 2017.
- Received the Digital Marketer of the Year award by IAMAI in 2018.
- Listed as one of the top 100 startups with gravity-defying momentum to look up to in 2017 by YourStory.
- Recognized by Forbes Japan as one of the 20 hot startups in India.
- Received an award at the Emerging Awards by Tracxn where it was declared as one of the topmost companies in Real Estate Tech from across the globe.
Future Plans of NoBroker
The company aims to expand within 50 cities in the next 2-3 years.