Bottom Line: Magicbricks’ e-auction has firmly established itself as a go-to sales channel for real estate developers.
Pipping conventional sales channels in its maiden auction for Birla Apple Aroma – a housing project by Apple Spire India LLP in alliance with Birla Homes, Magicbricks e-auction concluded amidst tremendous response from customers. The 13-day e-auction generated more than 48,750 visits from 41,379 unique users.
The e-auction pre-launch of Birla Apple Aroma homes saw a huge demand from the Bangalore consumers. Moreover, the entire activity generated 1200+ unique leads – with a good participation from the NRI clientele.
Magicbricks.com’s e-auction platform has helped in making the entire sale process quick and simple, clearly indicating that customers are warming up to online real estate transactions. Accordingly, e-auctions are the way forward for the real estate sector, whereby both developers and customers mutually benefit via an online platform that is safe and transparent.
Speaking on the occasion, Sudhir Pai, CEO, Magicbricks.com, said, “We are pleased with the success of our e-auction platform. Digital footfalls over the 13-day e-auction on Magicbricks’ portal are a sign of the times about the direction in which the market is heading. Auctions seems to have successfully tapped into customers’ preferences, providing enormous visibility to the project prior to its launch.”
Commenting on the association, Jayaram, Chairman, Birla Apple Spire India LLP, said, “Although this tie-up with Magicbricks for a digital-only pre-launch was a first for us, we are very pleased with the stupendous success of the e-auction. We are expecting to sell 50% of the units put up for auctions vis-à-vis the overwhelming leads generated by the e-auctions. Given the encouraging response from buyers, we will strongly consider the e-auction route for all our future pre-launches.”
