NoBroker.com’s launches campaign to builds awareness about information asymmetry in real estate

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NoBroker.com, India’s largest one-stop shop for all property-related needs, has launched its latest ad campaign that highlights the issue of information asymmetry faced by homebuyers in India. Created by NoBroker’s in-house creative team and produced by Far Commercials, the TVC takes a dig at the absurdity of paying huge brokerage amounts by home seekers for just being connected to the homeowners. The TVC shows how prospective homebuyers can use NoBroker.com to access a wider range of listings, more accurate property specifications, and directly connect with the property owners without being subject to biases and pressures of middlemen and save huge amount on brokerage. More than $19 bn is paid as brokerage in India every year for real estate transactions.

The campaign, primarily targeting the buyers between 30-55 years of age, has just been released on TV and digital channels as it’s the onset of festive season in India and considered to be the most auspicious time for purchasing a property.

NoBroker is the largest player by number of transactions for sale of houses In India and does more than 5000 sale transactions every month.

Speaking on the latest campaign, Saurabh Garg, Co-founder and CBO of NoBroker.com, commented, “With this campaign we aim to address the most common issues faced by homebuyers, such as lack of information on available properties, accurate description regarding size and carpet area, how to go about paper work, etc. Earlier, people had no choice but to avail services from the middlemen and pay them exorbitant amounts of money at every stage from being connected to a homeowner, to completing paperwork, and so on. And many a times, the buyer feels pressurised and dissatisfied with the service but has no choice.  Through our latest campaign, we aim to encourage home-seekers to question the legitimacy of brokerage and experience how NoBroker can offer them superior value throughout the home-buying process from discovery and application to the final purchase and post-purchase support. We have helped save INR 7000 crore worth of brokerage to date, and given the scope in the sector, we feel that we have just scratched the surface. The pandemic made many home seekers comfortable with using online channels to find the right property and we have seen a humungous jump in the registrations. Given the current scenario with rock bottom home loan interest rates and other bank and government policies that are conducive to prospective homebuyers, we hope to maximise their satisfaction and savings while buying a house by eliminating brokerage.”