Group buying: A better way to buy your dream home?
Since the last few years, group buying has been touted as a viable option for home buyers looking forward to get attractive discounts.
Utopia Builders is a real estate company. The company has just built a housing complex comprising of 55 flats. Since the real estate market is down, Utopia could not sell all the flats and is left with 25 flats still up for sale! Utopia is ready to give heavy discounts if someone can buy in bulk, say 5 flats. Quite a few builders are in a similar situation as Utopia. In spite of the heavy discount for a bulk purchase offer, there were no takers as why would anyone want to purchase 5 flats in one go?
Ramesh, Shan, and Sayeed are software engineers at Pune, Mumbai, and Bangalore respectively. They know that the market is down and want to make the most of this situation to buy a home. However, they are not able to find a good property deal with attractive discounts in such a subdued market.
How can Utopia Builders and potential home buyers like Ramesh, Sayeed, and Shan get in touch with each other? It seems obvious that if these potential buyers and Utopia Builders got together, a mutually beneficial arrangement can be worked out!