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<ul><li><keyword id="2739029" type="General" weightage="20" keywordseo="nobroker" source="Orion">NoBroker</keyword> came into existence 7 years back when its founders had bad experiences with brokers.</li><li>What started as a service in 2 cities has now expanded to 6, and the platform aims to reach out to the top 50 Indian cities in the next 3-4 years.</li><li>We speak to <keyword id="262315" type="General" weightage="20" keywordseo="saurabh-garg" source="Orion">Saurabh Garg</keyword>, Co founder &amp; CBO, NoBroker who talks to us about the platform’s journey so far and what the next few years will look like for the platform.</li></ul>How many of you have rented, bought or sold a house and have absolutely hated the experience of paying brokerage? And if you are from places like Mumbai, chances are you have paid brokerage to the same broker for numerous years, even if you have not moved houses. For years, information asymmetry has forced many of us to unwillingly resort to using the services of brokers. It is this consumer problem that NoBroker identified and tried to solve by creating its platform over 7 years back, which came into existence from the personal experiences of the founding members. Fast forward 7 years, NoBroker has now expanded from simply connecting buyers and sellers or homeowners and tenants to even offering services like painting, cleaning, Movers and Packers, Home Sanitization to even AC Service &amp; Repair and Pest Control. It has also expanded to six major urban centers. The platform is now looking at ringing in its next phase of growth and recently launched a high decibel campaign to educate people about its buy-sell proposition. “We have been around for around 7 years now and a lot of our growth has come from word-of-mouth. However, there is also latent demand. People hate paying brokerage, and that’s where we have come in, and addressed a pain-point almost all of us have gone through,” said Saurabh Garg, Co founder &amp; CBO, NoBroker. Today, the platform claims to handle $2 billion worth of transactions on its platform annually. “Currently, we do nearly 50,000 rental transactions every month and around 4,500 buy-sell transactions, which is a much larger number in comparison to most of our competitors,” shared Garg. For now, the platform wants to focus on its buy and sell offering and wants to grow the number manifold. The campaign While NoBroker had earlier released a rental campaign, it was primarily aimed at targeting home owners rather than people looking for rent. The platform, over the years, has used digital advertising more. It has also come up with a lot of regional communication. But with the current campaign, the aim is to talk to a larger audience. <div type="Youtube" id="4y5Xve6LLNg" title="NoBroker Nahi Kiya Kya?" thumbUrl="https://i.ytimg.com/vi/4y5Xve6LLNg/mqdefault.jpg"></div> “While word-of-mouth has been an important driver for us, the latent demand for our offerings has helped us carve a space for ourselves. We listened to our consumers and solved a problem they had been struggling with. Currently, almost 65-70% of our customers come to us organically, without us doing any kind of marketing which is a big advantage for us. However, we thought it was a good time to come up with the campaign because people still feel we are very large in the rental space, but we are now very large in buy and sell too. We do 4,500 transactions in buy and sell every month which almost amounts to Rs 3,000 crore worth of transactions every month. So our objective behind the campaign was to tell everyone that we are pretty big in the buy and sell segment too. NoBroker came into existence because we did not want people to pay brokerage, our aim was to make the process easier and more convenient. Our ad aims to introduce NoBroker as a friend who will help you buy and sell in a more hassle-free way,” explained Garg. Expansion plans When NoBroker had been launched, it had started as a website. A mobile app followed a few years later. It started its operations in two cities, Mumbai and Bangalore. From there, NoBroker is today present in 6 large cities. The aim is to grow its presence substantially in the next few years. “We think this problem related to brokers exists in the top 50 cities in India. So, in the next 3-4 years, we want to go to the top 50 cities and solve the problem across rental, resale, or new sales. We also think that our proposition of non-brokerage clubbed with a one-stop shop works really well because as you move to smaller cities, getting professional services is also a big problem. Services like painting, movers and packers etc play a critical role in the entire real-estate journey and we are trying to make it a painless process, a one-stop shop. Our aim is to make it as seamless for our consumers as possible. We also want to ensure that when someone is availing a service on our platform, there is a certain level of quality and it is done in a proper manner. The future NoBroker had announced in April last year that it had raised $30 million (Rs 230 crore) in its series D round of funding that was led by General Atlantic. Right now, from a communication perspective, the platform will continue to talk about its increasing market share in the buy and sell segment. The aim is to increase the number of transactions drastically in the coming years. “The number of listings we have for buy and sell are much larger than a lot of other platforms. The task at hand for us is to make people aware of our play in the space and to figure out if we can take the 4500 closures to 3X that number in a year. We do resale and primary, which is also a very big business for us. So driving traction on sales and taking it from here to a very large business will be our key focus. Secondly, we want to keep on increasing our market share because when that happens, you are able to give more options to consumers, whether it is a buyer or tenant. So we will aim at going deeper into the cities. Thirdly, we will also focus on identifying pain-points and offering services to make the process easier for them. Over a period of time, we have realized that rent agreement, packers and movers and painting are pain-points, so we have added those services. People can also pay rent on our platform. So our endeavour would be to keep removing our consumers’ pain-points by adding important services so that we can make our consumers’ journey seamless. Also, <keyword id="9264124" type="General" weightage="20" keywordseo="nobrokerhood" source="Orion">NoBrokerhood</keyword>, our society management app has also gained a lot of traction so that is also something we will keep investing on,” concluded Garg.

Almost 65-70% of our customers come to us organically, without us doing any kind of marketing: Saurabh Garg, NoBroker

New Delhi, Dec 4 () NoBroker.com, a brokerage free property platform, on Wednesday announced its entry into the Delhi-NCR market and aims to have presence in 20 major cities over the next three-four years. 
In October, the Bengaluru-based firm raised USD 50 million in Series D funding, led by Tiger Global Management, for business expansion. It has raised USD 121 million since its inception in 2014. 
NoBroker.com helps in buying/selling and renting of housing and commercial properties by connecting owner and property seekers without involving brokers.
"We have entered into the Delhi-NCR which is the biggest property market in the country," NoBroker.com co-founder Saurabh Garg told reporters here.
The company now has presence in six cities -- Bengaluru, Mumbai, Pune, Hyderabad, Chennai and the national capital region and aims to have presence in 20 major cities over the next three-four years.
Since its launch in New Delhi, NoBroker.com has already garnered 62,000 consumer registrations and over 27,000 listings on the platform. It has, thus far, facilitated over 1100 deals in the region.
On operational front, co-founder Amit Kumar Agarwal said the company is facilitating 20,000 transactions per month, of which 85 per cent are for rental.
Asked about revenue model, Agarwal explained that the company earns money by charging for premium service which is providing a phone relationship manager to help fast execution of transaction.
The company also generates revenue by offering value-added services like packers and movers, property loan, legal documentation, furniture rental and 'NoBroker Pay' for rent payment through credit card, he added. 
Garg said the company has already achieved break-even in Bengaluru and Mumbai. It takes 12-18 moths to break-even in any city, he added. 
The company, however, declined to disclose the revenue posted in the last fiscal. 
"The idea of zero brokerage holds a lot of appeal for the value conscious Indian consumer. Our platform aims to create a transparent real estate ecosystem by eliminating brokerage from the equation." Agarwal said. NoBroker also helps customers in suggesting the ideal location to buy or rent a property as well as the rent or capital value of the property. 
The company raised an initial round of funding from SAIF Partners of USD 3 million in 2015, followed by a Series B of USD 17 million from Japanese investor Beenext and Korean investor KTB Ventures in 2016. 
In June 2019, NoBroker raised USD 51 million from General Atlantic. MJH DRR
DRR

NoBroker expands to Delhi NCR; aims to be present in 20 major cities over next 3-4 yrs

<keyword id="22865833" type="General" weightage="20" keywordseo="online-vendors" source="keywords">Online vendors</keyword> have generated 15.8 million <keyword id="19914922" type="General" weightage="20" keywordseo="jobs" source="keywords">jobs</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, including 3.5 million for women, with about 1.76 million retail enterprises participating in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> activity, says a report released on Wednesday. The report 'Assessing the Net Impact of e-Commerce on <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">Employment</keyword> and Consumer Welfare in India' was launched by Commerce and Industry Minister Piyush Goyal. "Plugging in data from our survey, we estimate that online vendors generate 15.8 million jobs, including 3.5 million jobs for women," the report prepared by Pahle India Foundation (PIF), a Delhi-based policy research institute, said. E-commerce, according to the report, has been a key driver of employment generation In India. On an average, online vendors employ 54 per cent more people and almost twice the number of female employees, compared to offline vendors. The report noted that two of the most widely-recognised contributions of e-commerce penetration in the retail sector are --growth in employment and improvements in consumer welfare. It said rather than displacing physical markets, e-commerce is expanding into new territories like tier 3 cities. "Our data shows that a higher percentage of Tier 3 city consumers spend more than Rs 5,000 per month on online shopping as compared to consumers from bigger cities," it said, adding this is the India consumption story, which enables the co-existence of physical and digital retail. The study analysed the impact e-commerce has had on employment and consumer welfare through a pan-India survey of 2,062 online vendors, 2,031 offline vendors, and 8,209 consumers of products from e-commerce websites across 35 cities in 20 states and UTs. According to the report, each e-commerce vendor on an average employs about 9 people, of which 2 are female, while each offline vendor employs about 6 people, of which only 1 is female. It pointed out that there was increase in employment across skill levels, including high-skilled (management, marketing), medium-skilled (customer service, operations), and low-skilled (warehousing, logistics, delivery) functions. The report said that the growth of e-commerce and accompanying digitalisation have fundamentally changed the skill sets and roles required in the industry. "Vendors have experienced improved business performance parameters since listing online, including higher sales and profits," it said. According to the report, 60 per cent and 52 per cent of vendors, respectively, state that their sales and profits have increased since the time they have started selling online. "Overall, more than two thirds of the online vendors interviewed experienced an increase in online sales value and profits in the past year," the report said, adding that 58 per cent saw an increase in both. Barring costs, it said vendors have seen a positive shift in all other aspects of business performance since they started selling online. The report said there is a strong business case for offline vendors to list on e-commerce platforms or pursue an omni-channel strategy. "E-commerce integration has accrued significant benefits to vendors from smaller cities and micro-enterprises," it said. The study also delves into how e-commerce has reshaped consumer behaviour, noting that consumers have shifted to online shopping for reasons that include convenience, product variety, and access. "A highly engaged consumer base is indicated by the fact that more than 50 per cent of all respondents to the survey spent more than two hours on e-commerce platforms a week, and that 70 per cent made a purchase via e-commerce in the last month alone," it said. Speaking at the event, former NITI Aayog Vice Chairman Rajiv Kumar said, e-commerce has revolutionized India's retail landscape. Ministry of Statistics and Programme Implementation(MoSPI) secretary Saurabh Garg lauded the government's initiatives expanding digital public infrastructure that have enabled the smooth expansion of e-commerce. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

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Almost 65-70% of our customers come to us organically, without us doing any kind of marketing: Saurabh Garg, NoBroker

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