Makaan.com empowers property seekers and launches India’s first online property rating system

Media News

New Delhi, April 02, 2008

Makaan.com, the fastest growing online real estate portal today launched its 'Makaan Rating' system. First of its kind in the Indian online real estate Industry, this unique feature will allow property seekers to rate the properties on the basis of usefulness of the listings. This system, apart from helping users select most accurate property listings in the shortest possible time, will also discourage advertisers to display incorrect information. Detailed working of this system can be accessed through www.makaan.com/makaanrating.

With nearly 40 thousand property classifieds in newspapers and about 5 lac property listings appearing on online real estate portals every week, there lacked an appropriate evaluation process to assess these properties. Building on its positioning of ‘Real Properties. Real Buyers’, this initiative by Makaan.com is expected to set a benchmark for the validation process of property listings. The ratings are user-generated, hence this system is based on personal experiences of users when they interact with the sellers, thus paving the way for an accurate and measurable mechanism. The ratings will further strengthen the accuracy of each property listing on the website, thus providing a richer property search experience for the users as they can make an informed decision in a sharper & faster manner.

The way this system works, is that Makaan.com search result page displays the properties matching one’s search criteria. The property seeker then contacts the advertiser/seller and establishes the correctness of the information. This information is fed into the Makaan Rating system when the seeker answers a few very simple questions. The answers are subjected to a complex algorithm to arrive at a rating for every listed property. The final rating is an average of the rating given by multiple property seekers. The rating is displayed as star(s) on each listing. More the stars higher are the correctness of information displayed.

Aditya Verma, Business Head Makaan.com said, “www.Makaan.com has always believed in innovations and practical products that benefit its users. Makaan Rating is a powerful tool that will allow users to assess property listings themselves, and hence rate their experience of interacting with the seller. Till now there was no product which offered users to check the authenticity of the property and this initiative will help us in getting a measurability in the system.”

www.Makaan.com was launched only 6 months back, and already boasts a number of firsts in the online real estate industry. The company pioneered the Smart Broker Banner, which allows a property agent to create his own Ad online, and specify the location where he wants the Ad to run, at a budget that is comfortable for the agent. Another offering, ClickPay, is especially designed for the property agents, where they pay only when a property seeker actually clicks on their Ad. The agent can provide details of multiple properties in the same Ad, much like in a newspaper, and can even create the banner online through a convenient and user-friendly interface. ClickPay is the only such product available in the market. Makaan.com is also actively focusing on the builder community, launching clutter-breaking products like Slideshow, Home Page Scroll, Smart Builder Banner etc. Each of these products is innovative, fresh, and allows the builder to reach the property seeker in an efficient way.

Property seekers will benefit immensely from Makaan Rating. A regular property search normally results into thousands of matching properties and seekers may not have the time to go through all of them. This is where Makaan Rating will help; it will put them in touch with advertisers that have displayed correct information, which will be determined by the higher number of stars on the listings. As a result, the chances of property seekers interacting with sellers displaying correct information increases dramatically, which is a step in the right direction for the entire online realty marketplace.

For further information, please contact:

Neha Chadha

Mob: +09810627134

e-mail: neha.c@peopleinteractive.in