Wednesday, October 1, 2014

Housing.com -- Virtual House hunt [Business Model] Part II

Services
  • Buy/sell Flats, Rental Apartments, PG & Hostel: Website provide information about Flat, nearby area, commutation means & time, photograph of flat, property ratings with brokers / agent’s name & photo.
  • In case of New Projects it also share information about flat configuration, amenities (floor, fittings & wall), ariel view of project, price trend in that area along with developer’s information.
  • Land / New plot section provides 3600 Panoramic View, information about developer / agent and availability of basic amenities 
Unique features
  • Brokers can create their profile, which is available for visitors to view for free
  • For housing new project, the company enables people to visualize their homes using 3D Model of building superimposed on Google maps
Data Science Lab feature is a major game changer for companies in real estate industry. This unique feature is based on data analytics. All traffic on website is tracked, analysed and presented in form of index and ratings.
  • Traffic Flux feature highlights source of inbound and outbound housing demand. It is diagrammatic representation of people’s preference while looking for new house. This is supported by Inventory demand supply feature that analyses demand and supply of property in area selected
  • Price heat map provides graphical presentation of price of property in selected area
  • Listing Decay – To ensure that old listed property that is not relevant is removed. Listing decay determines when listing should expire
  • A unique concept introduced by venture, is rating and index based on in-house designed algorithm
    • Housing lifestyle rating, Project lifestyle rating, locality rating
    • Child friendly index indicates friendliness of particular area for children. It is rated based on factors like school, hospital & playground. Other index presented by venture are women safety index, old age index and agent happiness index
    • Listing decay to ensure that property rented out or sold are no longer retained in property listing, thereby only relevant data is presented to site visitors
    • Tools to estimate value of property for sale / rent
Business Model