Almost all the tech-savvy bloggers globally are adopting the highly advanced digital medium for all the property related transactions. A global annual survey has revealed that they usually search online for all rental properties.
Nobroker.com, one of the largest property dealing websites has conducted a survey where they have studied and sampled over 7063 tenants from across the globe. After proper analysis, they came to know that over 83% of the tenants prefer to search online for their intended or prospective properties for rent. Even realtors has started focusing on building a strong online presence with the help of digital marketing activities. The survey has also revealed that 31% of the remaining lot prefer the traditional and the conventional way of asking people and other friends.
Among all the people who decided to search online, 44% of the people preferred using desktops, while 38% used mobile phones for searching and the rest comprised of the 29% of the rest. 59% of the overall people decided to even pay the rent online. According to the survey, 63% of the participants have expressed their contentment and happiness while using the online platforms while 54% have successfully found the property of their dreams within the very first 30 days of their online search.
The popularity of the online platforms has been of huge benefits to all the users as it diminishes the problems and harassment caused by the middle man and the brokers. These people may give poor or incorrect information about the property and may overcharge you. Moreover, these websites have helped in the verification of the properties, the pricing, and security. Some other advantages include the deduction of the brokerage cost and the reduction of the documentation.
The survey has however revealed that despite the increase in acceptance of the digital medium for all property related transactions and research, a lot of users still have trust issues over the digital and online market.
Well according to 52% of all the people, misinformation or lack of information and fake photographs of different properties have been the major and the main reasons behind such distrust. After proper study and survey, an average was made from which we found that a tenant only agrees after he or she has met at least 6 owners. In the same case, 80% favored a physical verification of the property after their online research.
Added to this, 48% of the respondents and their legal personnel preferred to give their own rental agreements done before anything else. The survey has also shown that the affordable housing solutions are emerging as the topper for the tenants with one-third of all the Indian buyers aspiring to buy a new house. As per recent projects, SVB Realty is among the most active realtors for villa and residential plots in Pune. 47% of the respondents have stated that they are comfortable with buying a house within RS 40 lakhs. The spokesperson of NoBroker.com has also added that the affordable housing solutions in the Indian real estate market would rise pretty soon maybe in the next decade.