Time taken to close a property deal reduced dramatically by using emerging tech solutions

According to NoBroker, the time taken to sell a property in Bengaluru has come down to 26-27 days from 40-42 days previously.

The average time required to sell a house has reduced to almost half over the last two years as a result of technology-driven solutions that assist homebuyers in taking quicker decisions, according to the real estate platform NoBroker, the country’s first proptech unicorn.

The tech-driven approach includes immersive video tours, advanced pricing tools and even relationship manager assistance in some cases. Currently, the real estate platform uses a price estimating tool called NB Estimate that fetches real-time property selling data to provide accurate property valuations.

The platform has observed a substantial reduction in time taken to complete the sale transaction across cities with Greater Noida (51 percent less time taken than earlier) and Ghaziabad (44 percent) leading the way, followed by Bengaluru (41 percent).

According to NoBroker, the time taken to sell a property in Bengaluru has come down to 26-27 days from 40-42 days previously.

“Selling a property is a challenging task that often involves complexities in pricing, finding the right buyer and justifying the asking price,” Akhil Gupta, co-founder and chief product and technology officer of NoBroker, told Moneycontrol.