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BusinessTier-2-city homeowners go online to sell properties amid Covid

Tier-2-city homeowners go online to sell properties amid Covid

Published: 26th Mar 2021 3:26 pm

New Delhi: With digital adoption on the rise in India’s real estate sector, tier-2 cities like Lucknow, Jaipur and Coimbatore have witnessed a two-fold rise in homeowners and landlords opting for online services to sell their properties during amid the pandemic, according to Magicbricks Owner Services consumer study.

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Landlords and homeowners are now looking for a host of specialised online services like getting a professional photo shoot done, creating a crisp content description, getting best online listings for quick and best responses, and having a dedicated relationship manager to close the deal, said a Magicbricks statement.

The study also reveals that landlords and owners from over 500 cities and towns across India are now opting for digital solutions to sell their properties. Among the tier-2 cities, Lucknow tops the list followed by Jaipur, Coimbatore, Vadodara, Indore, Nagpur, Bhubaneshwar, Vishakhapatnam, Patna and Bhopal.

As per the study, the duration for selling properties varies from 0-3 months for 57 per cent of the sellers, 3-6 months for 27 per cent and over 6 months for 16 per cent. Since the pandemic has given a boost to owners and sellers to go the digital route, their enthusiasm has been contagious as 40 per cent of the sellers are now shortlisting on an average six buyers before closing the deal.

In terms of digital adoption in Tier-1 cities, Bengaluru is leading the chart followed by Hyderabad, Chennai, Pune and Mumbai.

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