Magicbricks.com, recently announced the launch of India’s first & most advanced property price movement tracker called PriceFlashEngine™. A unique tool that helps home buyers to set up alerts to constantly monitor the prices of the properties they are interested in and to then make their move whenever a great deal comes their way. The Engine digs deep into the rich data of Magicbricks.com and uses advanced algorithms to track the movement of property prices and instantly alerts the consumers if property prices move and if great deals become available.
This tool also has a feature called as ‘make me buy’ which allows consumers to set a ‘wishlist price’ for the property they are interested in – if a seller is happy to sell at this price, he can then connect with the buyer and take the transaction ahead.
Speaking on the launch of this unique product on Magicbricks.com, Mr. Sudhir Pai, CEO, Magicbricks.com said, “There is a lot of uncertainty regarding property prices post demonetisation and consumers are confused whether they should take any action or hold their decision for now. However, we believe, on the contrary, demonetisation has opened the market for serious property buyers. This is one of the best times when consumers can negotiate best prices & deals with developers. For this, they need to constantly monitor the prices of the properties they are interested in and make their move whenever a great deal comes their way. Also, in the current situation, data & information will drive action as it will bring in transparency, trust & confidence. We believe this can be the greatest & most trusted ally of a buyer or investor in today’s circumstances and will be of great value to both.”
Post demonetisation, there has been a multitude of opinions on how real estate transactions, and thereby real estate prices would be affected. Some reports have said that prices could fall significantly -as much as 30% and others have said that markets would remain steady and prices would perhaps, even harden. In this volatile atmosphere, there is a real risk that consumer would defer purchase decisions indefinitely – this could further be fuelled by lack of availability of pricing data and market trends. To solve this problem, and to bring real-time pricing transparency in the market, it becomes important to have availability of pricing movement data. This not only enables a consumer to make the purchase decision at the right time but also could alert him if a great pricing/deal could be available in the market.
This innovation is the latest in the string of such new ideas, products & services from Magicbricks. The company had recently launched India’s first Real Estate Experience Centre.