Business Model Of Magicbricks: How Does Magicbricks Make Money?
🔍Insights
Are you looking for a more manageable home? A dream home? Or want a place you and your family can call home? Want a rental estate? Don't know where to get the best area to dwell? Are these questions bothering you a lot? Real estate is usually the best investment choice for you. It can produce endless passive earnings and be an excellent long-term investment if the price rises over time.
Magicbricks is India's leading online portal for buying, selling, and renting Properties. The company also solves issues and concerns related to real estate investments. Founded in 2006, the real estate portal is owned and managed by Times Group ( Bennett, Coleman & Co. Ltd.)
Magicbricks has been validated by consumers and several industries. It has been granted Super-brand status in the most recent survey by the Super-brands organisation. Lets get an insights on business model of Magicbricks and learn about how Magicbricks make money?
About Magicbricks
Business Model Of Magicbricks
What Is So Unique About Magicbricks?
How Does Magicbricks Make Money?
About Magicbricks
Magicbricks is an online forum for both estate buyers as well as sellers. The corporation is a division of Times Internet Limited. It's a fully-owned assistant of Bennett, Coleman & Co. Ltd. It also gives all kinds of sources and information about all property-related matters.
Keeping this aside, there is a report column called "Property Pulse" which comprises estate news, household loan concerns, legal and taxation matters, and estimation of the properties.
Areas of operation
There are more than 200 estates vacant for sale in Mumbai. Located at the main sites of Mumbai with easy connectivity to close hotspots, these estates promote premium facilities and large interiors. With an incredible site, massive connectivity, and luxurious conveniences, these are decent places to discover residential estate, mainly in Mumbai. It provides its services in 60+ cities in India.
Key Products and Services
Magicbricks.com is a high-end estate portal that caters to an international market with unique and special services and novel online details. Since its launch in 2006, Magicbricks has quickly climbed to be the No. 1 Estate Portal in India. The Magicbricks design is based on strict exploration, distinct product developments, and creativity which the users have ratified. In a trial to serve the users, captions on the Magicbricks portal are often developed, analyzed, and promoted.
Apart from buying, selling, and hiring properties in India, users have entry to the services. Â The announcement column of Magicbricks "Property Pulse" comprises estate news, home loans interests, legal & taxation matters, authority viewpoint, and proper analysis of estate trends. The Buyer's Guide is a real estate eBook that covers all the essential steps and stages entailed in property buying and contains answers, quick tips, and expert advice on what to look for and how to manage property buying.
Target Audiences of Magicbricks
Magicbricks.com is compatible with internationally praised estate fairs. It's here that the top-notch estates of major Indian metros are showcased for audiences in India and abroad. Magicbricks.com has successfully hosted 75 households and over 15 multinational property shows around the world.
Purbalee Dutta
Business Model Of Magicbricks
Ever wonder how companies work? What exactly goes on behind the scenes? How does it make money? Every business obeys a particular technique of working. And that technique is its business model. First, defining here the business model of Magicbricks. Real estate Firms like Magicbricks, 99acre and others have also got a similar business prototype:
- Their source of income involves rates for documenting a specific estate. This means it is better than free documenting.
- Magicbricks implicates the person promoting a quantity for a premium, documenting the publicity for particular products.
- There are many properties at Magicbricks. So for them, they promote the properties with various shades.
- The real estate business company gives perfect locality data with real locality pictures.
Advertisements are a very familiar word. Everyone has come through it once, twice, thrice, or even more. It receives money from the pennants as well. Of course, it's an online portal so, from those searches too, it collects money. It gives suffering of a lot of facilities to their users. Most importantly, it also delivers a feature. It is a luxury online website. Personalized services such as Vaastu, Astrology are yet included within it. Thus, people don't have to ruin money on these aspects. And in this way the company makes money.
What Is So Unique About Magicbricks?
Magicbricks gives you a culture that is all about creation and winning. It challenges you and brings the absolute best out of you. The dynamism here is such that it draws the next level in you, releasing your actual ability and proficiency vastly better than you have ever thought. This will finally turn you into a high-performer who is full of impressions, outcomes, and unmatchable willingness.
The business has plucked many buyer's eyeballs towards it. The Real property online portal, MagicBricks has recorded 74% advancement in the second quarter. And the first quarter saw a 48% advancement. But the second one is massive, as mentioned above.
The portable app is better. It's more than 10 million downloads. It has earned itself the only one of its type to attain the landmark. The firm is experiencing massive improvement day by day. This was much expected as in the last three years, and there was a deceleration in the development process.
Ankana Bhowmik
How Does Magicbricks Make Money?
Magickbricks' revenue comes from various sources:
- MagicBricks is a real-estate portal that makes its money primarily from Producers, who spend a lot to expand their new operations. Another income stream is selling leads to dealers. And ads are just a minor portion of it. Magicbricks and other related portals have better than one income source. First, the Subscription-based model, every dealer on the forum spends some amount upfront to list out properties on the portal. Also, If the dealer is prepared to pay a slight premium, his properties are given appreciation over other properties as a result.
- Secondly, Space selling or Media Deals, Traffic on the site is also leveraged by the firm. Banner space is sold to big players who want to promote their brand to the audience who explore the website. For massive construction programs, they also do earn promotion fees. So, they promote your estate for payment and then receive potential leads from buyers.
- Property listings website Magicbricks has extended thirty crores from its parent company, Times Internet Ltd. The firm will utilize this budget for brand-building enterprises. Product advancement and seller improvement activities will take place soon. The firm says that it notices itself playing a much more significant role as a consumer. With this capital, more effort will be put into the forum. They are also striving towards having nearly 85% of all the available properties to be documented on their site.
Chayanika Goswami
Conclusion
The objective of this business is to give rise to a better and clear place for its laborers with a primary modification. The laborers invade the maximum areas. And the Senior Executives usually receive glass compartments. But these things are gonna shift very shortly.
Now productivity would no longer be an obligatory matter. The corporation will be promoting art and creativeness a lot. Their work techniques and the workplace's flexibility will be the fundamentals of advancement. Further specialized items will be set into the app as well as the site.
FAQs
Is MagicBricks Indian company?
Magicbricks is India's leading real estate portals for property buying, renting, and selling.
Which is the best real estate portal in India?
Some of the best real estate portal in India are:
- MagicBricks
- 99Acres
- Housing
- Common Floor
- OLX Homes
- Sulekha Properties
- Makaan
- Quickr Homes
- Homes247.in
What are the business structure for real estate?
There are 4 main types of business structures for real estate:
- Sole proprietorship
- Partnership
- Corporation
- Limited Liability Company, or LLC.
Who are the top competitors of MagicBricks?
Some of the top Competitors of MagivBricks are:
- 99acres
- Makaan.com
- Housing.com
- Commonfloor.com
- Homes247.in
Who is the founder of MagicBricks?
Sudhir Pai is the founder of MagicBricks.
What is MagicBricks' revenue?
Magicbricks Realty Services Limited's operating revenues range from INR 100 cr to 500 cr in a financial year.
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