Acquisition project | NoBroker

🚀 NoBroker – Revolutionizing Real Estate Transactions! 🚀

Welcome to a world without those annoying brokerage fees when buying, selling or renting your next home. NoBroker is transforming the landscape of real estate in India by reducing the pains through a simple user friendly platform that connects you directly to real owners of properties, tenants and buyers.

Our target audience is first time home buyers, property owners and renters who are tech savvy people in the age range of 25 to 45, that may be interested to either rent or sell the property they own or looking for rental properties. It is our mission that we give you complete control on the whole process in to making real estate transactions crystal clear and transparent.

Goodbye to extravagant brokerage commissions! NoBroker saves you money by eliminating the middle man and improves communications along with shortening the time spent on property transactions through the use of https://www.nobroker.in/. View and filter out verified property listings as well as directly communicating with the property owner at ease on the platform.

With data driven insights and targeted marketing campaigns we have built NoBroker to drive transactions along with broadening the market reach to attract new wave of users. The next quarter our aim is to double the number of users signing up and enhancing our unique value proposition as a company.

Time to Redefine Indian Real Estate! With property management, moving, legal support and many more services at your fingertips as per your convenience. We want you to find the right home to move into an enjoyable experience rather than a misery!

Detailed Analysis of NoBroker:

Flats, Houses, Apartments for Rent, Buy, Sale Without Brokerage in India.pdf

Product Offerings:-

Search without Buyers:

1. Direct Buyer-Seller Interaction: Allows for seamless communication between buyers and sellers, reducing brokerage fees and transaction costs
2. Enhanced Transparency: Provides verified property listings to ensure authenticity, fostering user trust throughout property search process
3. Support Services: Provide additional services like home services and rental agreements, creating one stop solution for all property-related needs
   

Verified Listing Importance:

1. Trust and Authenticity: Verified listings reduces the risk of fraud thus increasing users trust on the platform
2. Streamlined Search Experience: By focusing on genuine options, users can save time and effort when searching the property
3. Increased User confidence: The assurance of verified listing leads to more transactions and engagement which drives platform growth
   

Rental Agreement Services:

1. Digital Agreements Convenience: Offers a fully digital rental agreement services, allowing users to create, sign and store agreements online for maximum efficiency
2. Doorstep service option: Provides professionals to assist users in executing rental agreements at their locations, ensuring hassle-free process
3. Legal Compliance Assistance: All agreements follow local laws lowering risk of legal disputes
   

Home Services Overview:

1. Extensive Home Options: Provides a variety of home services such as moving, cleaning and painting. Allowing users to manage property needs from a single platform
2. Quality Assurance: Providers of services who have been vetted and verified provide high quality service which fosters customer satisfaction and trust in NoBroker
3. Convenience and Accessibility: Users can easily book and manage home services using NoBroker app or website which improves overall user experience
   

User Experience (UX):-

1. User Friendly Interface: The clean layout and intuitive navigation make property searching simple
2. Efficient Search Functionality: Users can filter properties based on location, type and price range for personalized search experience
3. Simple Registration Process: Easy sign-up via email and mobile number allowing for quick access to services
4. Property Alerts: Users can set alerts for new listings that match their filter criteria ensuring never to miss an opportunity
5. Reviews and Ratings: User reviews of properties and services promote transparency and increase trust in the process
   

Competitive Advantage:-

1. Zero Brokerage: Unlike traditional platforms, NoBroker doesn't charge brokerage fees which a big plus for budget-conscious users
2. Direct Transactions: Users can communicate directly with property owners, resulting in smoother transactions
3. Compressive Services: NoBroker distinguishes itself from competitors by offering additional services such as legal support and home loans
   

Marketing and Promotions:-

1. Referral Programs: Current users are encouraged to refer friends and family, which both parties receiving rewards for successful referrals
2. Promotional Offers: Discounts or promotions are occasionally offered as services such as legal support or home cleaning
   

Target Audience:-

1. Young Professionals: Typically urban residents looking for rental properties or first time home-buyers
2. Families: Individuals looking for larger homes or properties to accommodate their families
3. Property Owner: Real estate owners looking to maximize rental income while reducing hassle can connect directly with potential tenants via transparent and efficient platform
   

ICP Segments and its Categories:

Engagement Drivers for ICP:


ICP Prioritization :

SWOT Analysis of NoBroker:

Core Value of NoBroker:

1. Broker-Free Transaction: Eliminates need of middlemen by allowing property owners and potential tenants and buyers to communicate directly. This reduces cost and improves transparency
2. Verified Listing: The platform provides verified property listing, ensuring authenticity and lowering risk of fraud, thereby increasing user confidence
3. Comprehensive Services: NoBroker offers additional services such as digital rental agreements, legal assistance and home services (e.g., moving and cleaning), resulting in a one-stop shop for all property-related needs
4. User-Friendly Interface: The platform is designed to be intuitive, making property searches simple and efficient thanks to advanced filters and alerts
5. Cost Savings: By avoiding brokerage fees, users save money which adds to the platform's appeal
6. Convenience and Accessibility: With services on mobile and desktop platforms, users can easily access and manage their property transactions at their convenience

ICP Segment Overview and CVP Impact:

Market Potential of NoBroker:

1. Strong Revenue Growth: In FY23, NoBroker's revenue increased by 87% to ₹609 crore up from ₹326 crore in FY22. The company's growth can be attributed to its growing customer base and zero-brokerage model. However, rising expenses resulted in a loss of ₹506 crore.
2. Investment Preferences: Many Indians continue to prefer real estate as an investment. A survey found that 74% believe it is a better investment than gold or stocks. This demonstrates a robust market for property-related services and further potential for NoBroker as a facilitator in the home buying process.
3. Market Trends Favoring Home Purchases: According to NoBroker's annual report, 65% of Indians intend to buy a home by 2024. The main motivators are rising rental costs and an increase in affordability and financial security associated with home ownership.​ Business Standard. Rents in cities like Bengaluru and Chennai are rising significantly, leading some to consider buying as a more financially viable option.
4. Comprehensive Service Offerings: NoBroker now offers rental agreements, home insurance and property management in addition to its core zero-brokerage model. This broadens its appeal to both buyers and renters. Improving customer loyalty and creating additional revenue streams.
5. Funding and valuation: NoBroker has raised more than $400 million, including significant rounds from investors such as Google. This capital enables the company to invest in technology, marketing and service expansion.

Market Overview:

In 2024 an estimated value of USD 227.26 billion will be reached for the Indian Residential Real Estate Market it is expected to grow to USD 687.27 billion in 2029 which indicates the compound yearly development (CAGR) of 24.77%. These factors such as increasing urbanization, rising disposable incomes and a huge demand for affordable housing, help drive the growing residential real estate sector significantly

Source: Mordor Intelligence - https://www.mordorintelligence.com/industry-reports/residential-real-estate-market-in-india/market-size

Top down Approach:

The Top-Down Approach starts by assessing the total market size and then narrows down to pinpoint specific segments. Below is a summary of our process for determining the Total Addressable Market (TAM), Serviceable Available Market (SAM) and Serviceable Obtainable Market (SOM)

Value of the Residential Market in India (2024): $227.26 billion (Residential Real Estate Market)
Residential Rental Segment: It is estimated that 30% of urban households in India are involved in renting their homes. As a result, the residential rental market is anticipated to account for 30% of the total residential real estate market
TAM for Rentals = 30% × $227.26 billion = $68.18 billion

Therefore, the Total Addressable Market for Residential Rentals in India for 2024 is projected to be USD 68.18 billion.

Urban Population in India: It is projected that by 2024, India's urban population will reach approximately 600 million.

Renting Households: It is estimated that around 30% of this urban population will be renters resulting in an estimated number of rental households in urban areas as follows:

Urban Renters = 30% × 600 million = 180 million households

Tier-1 Cities: Major metropolitan areas, known as Tier-1 cities (including Mumbai, Delhi, Bengaluru, etc.), represent about 45% of the urban rental market which equates to 81 million rental households in these cities

SAM for Tier-1 Cities = 45% × 180 million = 81 million rental households

Rent Per Household: Assuming an average monthly rent of ₹15,000 per household

Annual SAM Revenue = 81 million × ₹15,000/month × 12 months = ₹4.58 trillion ≈ $174 billion Annual

SAM Revenue = 81 million × ₹15,000 /month × 12 months = ₹14.58 trillion ≈ $174 billion

Thus, the Serviceable Available Market for residential rentals in Tier-1 cities in India for the year 2024 is estimated to be around $174 billion.

5% Market Share (Lower Estimate):

5% SOM = 5% × 14.58 trillion INR = 0.05 × ₹14.58 trillion = ₹0.729 trillion ≈ 8.7 billion USD

10% Market Share (Upper Estimate):

10% SOM = 10% × 14.58 trillion INR = 0.10 × ₹14.58 trillion = ₹1.46 trillion ≈ 17.4 billion USD

Serviceable Obtainable Market for NoBroker in Tier-1 Cities in India in 2024 is estimated to be between USD 8.7 billion to USD 17.4 billion.

Bottom-Up Approach:

The Bottom-Up Approach generates market estimates by analyzing user data, platform engagement and specific demographic information

Total Addressable Market (TAM) For urban renters, the anticipated urban population in 2024 is projected to reach 600 million, with 30% classified as renters leading to an estimated 180 million rental households

Assuming an average monthly rent of ₹15,000 per household the annual TAM revenue can be calculated as follows:

Annual TAM Revenue = 180 million × ₹15,000 /month × 12 months = ₹32.4 trillion ≈ $390 billion

Thus, the TAM for residential rentals is approximately $390 billion which aligns with the findings from the Top-Down approach

Serviceable Available Market (SAM) The SAM focuses on Tier-1 cities, which account for 45% of the total market.

SAM = 45% × 180 million = 81 million rental households

With an average monthly rent of ₹15,000, the annual SAM revenue is calculated as follows:

Annual SAM Revenue = 81 million × ₹15,000 /month × 12 months = ₹14.58 trillion ≈ $174 billion

Therefore, the SAM for Tier-1 cities is estimated at $174 billion supporting earlier calculations

Serviceable Obtainable Market (SOM) By applying a market share estimate of 5% to 10% for NoBroker in Tier-1 cities, we arrive at the following figures:

5% SOM = 5% × ₹14.58 trillion = ₹729 billion ≈ $8.7 billion

10% SOM = 10% × ₹14.58 trillion = ₹1.46 trillion ≈ $17.4 billion

As a result, the SOM is projected to range between $8.7 billion and $17.4 billion consistent with the Top-Down approach.

Channel Selection:

In terms of efforts, customer acquisition cost (CAC) and flexibility, use the following decision framework:

1. Effort: Channels with low setup effort, such as paid advertisements, may produce quick results but require ongoing optimization. High-effort channels, such as product integrations or content loops, take longer to establish but can result in sustained growth and lower long-term CAC
2. CAC: Channels with low CAC (e.g., organic search, referral programs) are more cost-effective for scaling. Paid ads may have a higher CAC but may be justified for early-stage growth
3. Flexibility: Social media and paid ads provide greater budget allocation and campaign adjustments, whereas product integration may have less flexibility due to longer development timelines

Acquisition Strategy Experiments:

To successfully navigate the challenges of early scaling, NoBroker should prioritize:

1. To reduce the chance of saturation and maintain control over CAC, acquisition channels should be diversified
2. Developing organic strategies to maximize traffic potential and lay a solid foundation for future growth
3. Structured referral programs that incentivize satisfied customers to share their experiences can be used to leverage word of mouth
4. Keeping high retention rates and focusing on customer satisfaction to encourage repeat business and referrals

Early Stage Analysis:

Understanding Organic Search based on Channels:

Overview: Using SEO to draw in visitors looking for terms related to real estate is essential. Real estate-related keywords like "buy property without brokerage" or "rental properties without fees" can be used by NoBroker to optimize its content
Approach: Using local SEO for property searches, optimizing landing pages and updating blog content on a regular basis can all aid in bringing in organic traffic

Organic Growth:

Keyword Analysis:

Note: Blog articles should address common questions from users and provide solutions related to renting and buying properties without the need for brokers. And NoBroker should be tagged at end of blog posts.

Key Strategies for Content:

• Use long-tail keywords naturally in titles, headings and body text
• Aim for a conversational tone and focus on providing value to the reader

SEO Optimization pointers:

• Ensure every page, blog posts and landing page has optimized title tags
• Use action verbs to encourage clicks (e.g., "Discover", "Explore", "Get Started")
• Regularly check for and fix broken links to enhance user experience
• Infographics are an effective way to break down complex information and make it shareable
• Case studies are a powerful tool for showing real-world results and success stories

Content Loop:

Hook:

1. To draw attention, pose thought-provoking queries such as "Are you sick of paying exorbitant brokerage fees?"
2. The challenges include encouraging community engagement by encouraging users to share their experiences finding homes without the help of brokers

Content User:

1. Utilize user-generated content by utilizing reviews, success stories and testimonials
2. Work together with real estate influencers to increase visibility and trustworthiness

Distribution Channel:

1. Use social media sites like Facebook and Instagram to post captivating images and narratives
2. In order to rank for pertinent keywords associated with no-brokerage housing solutions, optimize your blog content

Type of Loop:

1. Use visually appealing content to increase shares and engagement, much like you would on Instagram or other similar platforms
2. Offer insightful information and useful insights that promote sharing much like Quora
   
   

Google Search Ads:

• Keyword Analysis: We need to focus on high intent keywords for renters and first time buyers (e.g., "find an apartment in Bangalore")
• Ad Content: By highlighting details of no brokerage fees and property
• Metrics Tracked: Click through rate, Cost per action, Conversion rate
• ICP Impacted: Renters and First-time Home Buyers

Google App Campaigns:

• Application Enhancement: Improve speed and usability to attract a younger audience with personalized property recommendations, price alerts and location suggestions
• Ad Content: By using eye-catching creatives to highlight features like property comparisons, neighborhood insights and no brokerage fees
• User Experience Improvement: By simplifying registration and property exploration to boost downloads and retention
• Metrics Tracked: Cost per action, Install Rate, In-App Engagement, Retention Rate
• ICP Impacted: Renters and First-time Home Buyers
  

Google Video Ads:

• Video Content: Include high-impact, relatable content, including testimonials from renters
• Ad Formats: Use skippable ads and target by demographics (e.g., Age, Location)
• Metrics Tracked: View rate, Engagement, Conversion rate
• ICP Impacted: Renters and First-time Home Buyers

Facebook Ads:

• Audience Segmentation: Segment ads by demographics like age and family status (e.g., targeting young families for home buying)
• Ad Formats: Utilize high-quality visuals showcasing attractive homes & properties
• Metrics Tracked: Click through rate, Engagement, Conversion rate
• ICP Impacted: Renters, First-time Home Buyers and Property Owners

Instagram Ads:

• Influencer Collaborations: Partner with local influencers to expand reach and build trust
• Visual Content: Showcase attractive property images targeted at Renters
• Metrics Tracked: Engagement, Conversion rate
• ICP Impacted: Renters and First-time Home Buyers

Programmatic Ads:

• DSP Integration: Simplify ad placements to improve targeting for specific demographics, including young families
• Data Utilization: Utilize demographic and behavioral data for more accurate targeting
• Metrics Tracked: Engagement, Conversion rate
• ICP Impacted: Renters and First-time Home Buyers

< nobroker.in Traffic Analytics, Ranking & Audience [September 2024] _ Similarweb_compressed_compressed_11zon (1).pdf

NoBroker and FlatMate

• Collaboration of Roommate matching and Property discovery: NoBroker can partner up with FlatMate to provide roommate matching features directly within its app catering to users looking for shared living arrangements
• User Acquisition: This collaboration allows NoBroker to attract users actively searching for roommates and shared accommodations ensuring a seamless process from finding a roommate to renting a property
  
  Operational Workflow:
  

1.      Roommate Discovery: NoBroker users can take advantage of the “Find a Roommate” feature which is powered by FlatMate

2.      Profile Matching: Users are matched with potential roommates based on their preferences such as lifestyle, work schedules and financial factors

3.      Property Suggestions: Once a match is made users can browse shared property listings available on NoBroker

4.      Seamless Transition: Choosing a property takes users to the NoBroker app where they can view detailed listings and schedule property tours

5.      Login or Signup: Users can log into NoBroker possibly using their FlatMate credentials for a more cohesive experience

6.      Booking and Communication: Within the app users can arrange property viewings and communicate with potential roommates

7.      Integration Value: This unified platform offers users a comprehensive solution for both roommate and rental needs enhancing the overall housing search experience

8.      Post-Matching Engagement: Users receive alerts about new listings and potential roommates that align with their preferences.

Integration Value:
The flatmate's roommate matching functionality is seamlessly integrated into NoBroker. In a match properties are suggested in favour of a smooth user journey. Here property is listed and also compatible roommates who can be listed which will show listing property for compatible roommates only. NoBroker platform actually belongs to scheduling of appointments pertaining to the property viewing. That allows us to oversimplify this whole process a bit more and even a bit more unified. This also moves further to speed up the whole process by adding the in app communication and booking features that make the process itself better.

NoBroker Partners with Bit-VR for Virtual Reality Property Tours

• Immersive 3D Property Exploration: In collaboration with Bit-VR, NoBroker enables users to experience immersive virtual reality property tours, allowing for remote exploration of a variety of listings
• Innovative User Experience: The introduction of VR tours establishes NoBroker as a frontrunner in interactive property experiences, catering to users who desire a more engaging method of exploration

Operational Workflow:

1. Accessing Virtual Tours: Users can start property viewings by selecting the “Take a Virtual Tour” option powered by Bit-VR technology
2. Experiencing Immersion: Users can explore properties in a three-dimensional environment, inspecting rooms, layouts and intricate details directly from their devices
3. Live Support: During the virtual tour users have the option to receive real-time assistance from NoBroker representatives
4. Increased User Engagement: After the tour users are presented with similar properties for further exploration
5. Market Differentiation: The addition of VR tours strengthens NoBroker's market position, offering a unique competitive edge
6. Post-Tour Recommendations: Users receive personalized suggestions for comparable properties, encouraging continued engagement
   

Reference Company that has incorporated 3D view for the apartment : https://www.onthemarket.com/details/16017920/#/virtualtours/1

Integration Value:
Immersive 3D property tour allows users to generate information and past experience.
The experience becomes interactive and more user friendly with the assistance in real time.

NoBroker's Integration with PhonePe

• Streamlined Payment and Financial Solutions: Through its partnership with PhonePe NoBroker enables users to securely handle all rental and service payments on a unified platform
• Improved Transaction Management: This integration offers users a holistic approach to financial management enhancing the rental payment experience and promoting user loyalty

Operational Workflow:

1. Rental Payment: Users can conveniently pay rent and related fees via PhonePe directly within the NoBroker app
2. Seamless Payment Process: After selecting the payment option, users are redirected to PhonePe for secure transaction processing
3. Payment Confirmation: Transactions are quickly updated in the NoBroker account, making financial tracking easy
4. Service Promotions: Following successful transactions users receive personalized offers for home services
5. Integration Advantages: Promotions or discounts on rental payments through PhonePe help to reinforce user loyalty
6. Post-Payment Communication: Users receive reminders for upcoming payments and other financial notifications

Integration Value:

NoBroker’s platform is simple and secure payment process. For users this means instant payment notifications which allow better managing of finances. Home services increase retention and offer cross selling.

NoBroker Inside Rapido

• Streamlined Transportation for Property Tours: The integration with Rapido provides users with direct transportation options from NoBroker, which is particularly beneficial for those visiting multiple properties
• Seamless Transit Solutions: By arranging rides through NoBroker, users can effortlessly travel to and from properties, thereby improving their overall viewing experience.

Operational Workflow:

1. Transportation Options: While exploring properties, users will encounter a “Book a Ride” button, facilitated by Rapido
2. Rapid Ride Booking: Selecting the “Book a Ride” option triggers a ride request via the Rapido platform
3. Ride Confirmation: Users are promptly provided with ride information and estimated arrival times, ensuring a hassle-free property visit
4. Integration Benefits: Incentives such as promotional codes for first-time Rapido users may be offered to encourage property visits
5. Post-Viewing Engagement: Users will receive follow-up communications and recommendations for additional properties in comparable locations
   

Integration Value:
Enhances property viewings transportation experience which improves overall experience.