Real estate is one of the few sectors that can singlehandedly change the state of a country’s economy. Take for instance the case of Indian real estate industry, property sales hit an all-time low over the last 2-3 years, due to which the country’s economy too seems to have experienced a downturn. But that hasn’t stopped the many builders from coming up with more and more new projects.
In this passing phase, we bring to you some of the best real estate-based startup ideas to help you truly take advantage of the gradually growing state of real estate affairs.
So, what are these ideas we are talking about? Read on to find out.
1. A Real Estate Crowdfunding Platform
How does this work? Well, imagine a property management startup that can find beaten and broken down heritage or old-time properties. Now, this company mobilizes funds through a crowdfunding campaign where people invest their money. This money could be utilized to refurbish the property to its old glory and then sold through an auction or with the help of a trustee. Once the property is sold the profit can be shared between all the investors.2. A Company That Doesn’t Charge Commission
You might have seen a number of real estate based websites that let you lease flats, get property on rent, or buy new property. Usually, you’re required to pay a certain amount as commission if you want the said service to seal the deal. Instead, imagine a place where you don’t need to pay anyone anything. The whole idea is to get an entire platform where you can buy, sell, or rent properties without having to pay a hefty sum for the company providing the service. This will also get you access to the opposing party without any hidden agenda.3. An Aggregator
You might have used Zomato, the famous food aggregator app, to find restaurants and nightlife destinations near you. Much the same, you can have an aggregator business specifically for real estate also, wherein you can search for specific terms, say for instance- 1 BHK apartment in Bangalore. You shall get the result with all the listings offered by all the top real estate listing and classified websites. This will make your house hunting experience less time consuming and ultimately easier.4. A Tripadvisor for Tenants
Tripadvisor is one of the most popular sites amongst travellers because they offer reviews of almost every tourist destination and hotels a tourist can stay in. So, imagine a TripAdvisor-like app, which allows tenants to review the place they have stayed in. Such a site could not only help improve the house-hunting experience for others, but it can also help straighten out stubborn landlords who disregard the concerns of their tenants.5. Rental Bidding Service
Imagine a scenario where a landlord lists a property with all the details of their property including description and pictures. Prospective tenants can bid for rent payment based on their choice and the highest bid wins the apartment and signs the contract. This service can also include the user’s profile, using which a pre-screening can be done to filter the landlord’s needs.6. A LinkedIn for Real Estate
Don’t you think LinkedIn is one of the most efficient sites to find information about companies and individuals alike while still building a network? Why can’t that be done with real estate? The analogies would change slightly though.In this case:
Company = Apartment
Boss = Landlord
Employee = Tenant
Colleagues = Neighbours
Groups= Housing community
Job History = Rental history
Recommendation = Rating
This idea can help breed a sense of togetherness and can improve the relations between a landlord and a tenant.
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