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Why PropTiger's Business Model is so successful?

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PropTiger’s Company Overview


PropTiger is India's leading online real estate advisor, committed to providing a comprehensive platform for buying residential properties. Founded in 2011, PropTiger aims to guide homebuyers through the entire property buying process, from searching for a suitable property to finalizing the transaction. The company offers various services, including property selection, site visits, negotiation, home loans, and post-sales service. PropTiger has a strong presence in 12 cities across India and has partnered with over 500 developers, providing customers access to more than 100,000 properties. PropTiger's business model revolves around facilitating the sale of residential properties online. The company provides a curated platform where buyers can search for properties based on various parameters such as location, budget, and property type. PropTiger also offers personalized services such as assisting customers with site visits, negotiating with developers, and securing home loans. The company earns revenue by charging developers a commission on each property sale made through its platform. PropTiger's revenue model is primarily commission-based. The company earns a commission from the developers for every property transaction the platform facilitates. The commission rate varies depending on the property value and the agreement terms with the developers. PropTiger also generates revenue from ancillary services such as home loan assistance, which partners with banks and financial institutions. The company may earn a referral fee for every loan facilitated through its platform. PropTiger also monetizes its platform through advertising, where real estate developers can promote their properties to a targeted audience.

https://www.proptiger.com/

Country: Haryana

Foundations date: 2011

Type: Private

Sector: Consumer Services

Categories: Internet


PropTiger’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: design/aesthetics, provides access

Functional: saves time, simplifies, reduces risk, organizes, connects, reduces effort, avoids hassles, informs


PropTiger’s Related Competitors



PropTiger’s Business Operations


Brokerage:

A brokerage firm's primary responsibility is to serve as a middleman, connecting buyers and sellers to complete transactions. Accordingly, brokerage firms are compensated through commission once a transaction is completed. For example, when a stock trade order is executed, a transaction fee is paid by an investor to repay the brokerage firm for its efforts in completing the transaction.

Advertising:

This approach generated money by sending promotional marketing messages from other businesses to customers. When you establish a for-profit company, one of the most critical aspects of your strategy is determining how to generate income. Many companies sell either products or services or a mix of the two. However, advertisers are frequently the source of the majority of all of the revenue for online businesses and media organizations. This is referred to as an ad-based income model.

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Customer data:

It primarily offers free services to users, stores their personal information, and acts as a platform for users to interact with one another. Additional value is generated by gathering and processing consumer data in advantageous ways for internal use or transfer to interested third parties. Revenue is produced by either directly selling the data to outsiders or by leveraging it for internal reasons, such as increasing the efficacy of advertising. Thus, innovative, sustainable Big Data business models are as prevalent and desired as they are elusive (i.e., data is the new oil).

Digital:

A digital strategy is a strategic management and a business reaction or solution to a digital issue, which is often best handled as part of a broader company plan. A digital strategy is frequently defined by the application of new technologies to existing business activities and a focus on enabling new digital skills for their company (such as those formed by the Information Age and frequently as a result of advances in digital technologies such as computers, data, telecommunication services, and the World wide web, to name a few).

Transaction facilitator:

The business acts as an acquirer, processing payments on behalf of online merchants, auction sites, and other commercial users for a fee. This encompasses all elements of purchasing, selling, and exchanging currencies at current or predetermined exchange rates. By far the biggest market in the world in terms of trade volume. The largest multinational banks are the leading players in this industry. Around the globe, financial hubs serve as anchors for trade between a diverse range of various kinds of buyers and sellers 24 hours a day, save on weekends.

Featured listings:

A highlighted listing is more important and noticeable than a regular listing, providing maximum exposure for your workplace to consumers searching in your region. In addition, customers are attracted to these premium listings because they include more pictures of your home ? and its excellent location.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

eCommerce:

Electronic commerce, or e-commerce (alternatively spelled eCommerce), is a business model, or a subset of a larger business model, that allows a company or person to do business via an electronic network, usually the internet. As a result, customers gain from increased accessibility and convenience, while the business benefits from integrating sales and distribution with other internal operations. Electronic commerce is prevalent throughout all four main market segments: business to business, business to consumer, consumer to consumer, and consumer to business. Ecommerce may be used to sell almost any goods or service, from books and music to financial services and airline tickets.

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