In an interview with TechGraph, PropertyPistol CEO Ashish Narain Agarwal talks about its syndicate platform’s role in unifying brokers and facilitating seamless cross-border real estate transactions. He also outlines the launch of ‘Experience Centres,’ aiming to restore personalized services and bolster trust in Mumbai’s real estate market.
Read the complete interview:
TechGraph: PropertyPistol has emerged as a prominent player in the Indian real estate market, connecting buyers, sellers, and brokers through its Syndicate platform. How do you think this platform has impacted brokers’ roles in the industry? Are they seen as facilitators or facing potential challenges adapting to this evolving digital ecosystem?
Ashish Narain Agarwal: Our Syndicate platform has recently been renamed ‘Syndicate by PropertyPistol’ to bring forth the real brand identity of Syndicate and showcase the app’s technological prowess and feature-rich interface. This new brand identity backed by the change in the logo, assures seamless, uninterrupted, and professional assistance to the real estate brokers.
Syndicate by PropertyPistol has been doing brilliantly well and we have a promising future ahead for this business segment. Through Syndicate by PropertyPistol, we have been able to create a significant impact on the broker’s businesses. India has a growing number of real estate brokers in every small locality and thus it’s a huge market to tap. If these brokers are brought on a single platform and given opportunities to do business systematically and in an organized fashion, we can not only bring a tremendous change in the real estate ecosystem but also be able to help these brokers grow their businesses faster and seamlessly.
Syndicate by PropertyPistol has brought a lot of ease for real estate brokers. All a broker has to do is get registered on the app and add a lead to it. The rest of the transaction, right from follow-ups with clients, legal paperwork, documentation, ensuring timely brokerage payout, and any other assistance, is taken care of by our professionals. Earlier a broker was restricted to his/her locality to do business but with Syndicate by PropertyPistol, we have seen a growing number of brokers facilitating cross-border transactions seamlessly, with no additional cost and limited time.
Today we have over 20,000 brokers registered with us on the Syndicate by PropertyPistol platform. Adoption to technology is a challenge for these brokers, however, at PropertyPistol, we ensure that each of our broker partners gets enough training and a complete understanding of the platform.
We keep hosting knowledge-sharing sessions in the form of CP meetings in which I speak with the brokers to understand their challenges and resolve them then and there to retain the level of transparency and trust between us and our partners. We also host Syndicate by PropertyPistol demo sessions in these meets to consistently transfer the benefits and various features of the app and also to update the broker partners about any new features launched.
TechGraph: PropertyPistol claims to offer a seamless and transparent experience for both buyers and sellers. However, some critics in the real estate industry do argue that the lack of physical interaction and personalized guidance in online transactions may hinder trust-building. How does the platform address these concerns and build trust among its users, especially from the perspective of brokers who traditionally rely on building personal relationships with clients?
Ashish Narain Agarwal: PropertyPistol upholds its values and ethics and is committed to a business that is built on the strong foundation of trust, benevolence, and professionalism, all of which have transparency as a major ingredient. Real estate business requires personal interactions and relationships play a crucial role while doing business in this segment.
Nobody ever imagined that the sector would adapt to the COVID-19 lockdown and come out resilient and stronger than ever. Post the pandemic there has been a considerable change in the way people transacted.
A growing preference for online transactions and various technological advancements has been quite evident. The Syndicate by PropertyPistol came out as a pertinent platform that helped brokers to conveniently conduct their business and it was at this phase the brokers understood the value Syndicate by PropertyPistol brought to them.
Having said this, one cannot undermine the importance of a personal touch. During a client meeting, a professional or an experienced consultant will help you to give the exact understanding of the market research, demand and supply matrix, and various other things. This is the very reason why we, at PropertyPistol, have launched our Experience Centres in several locations in Mumbai as an extension to our current online real estate offerings.
These Experience Centres allow us to connect with the last mile consumers with personalized services offering a holistic home buying experience and, in the process, enhance our overall presence and brand visibility across the Mumbai real estate market. So far, we have 7 such Experience Centres across Mumbai, Navi Mumbai, and Thane and we plan to come up with more such centers in Pune and Bengaluru.
TechGraph: India’s real estate market is known for its diverse regulatory landscape and unique challenges. How does PropertyPistol navigate these regulatory hurdles, ensuring compliance with local laws and regulations? Additionally, how does the platform support brokers in navigating these complexities effectively?
Ashish Narain Agarwal: India’s real estate market presents a unique landscape with diverse regulatory challenges. At PropertyPistol, we understand the importance of navigating these hurdles while ensuring compliance with local laws and regulations. As a purely PropTech firm, we leverage technology to seamlessly integrate realty and innovation, providing a platform where brokers can thrive in this unorganized sector.
We prioritize adherence to the regulations stipulated by RERA (Real Estate Regulatory Authority), ensuring transparency and accountability in all our dealings. By strictly following the norms set by the company, we create a level playing field for all brokers, empowering them with the same technology to efficiently track their daily assignments and streamline their operations.
PropertyPistol goes beyond mere technology; we offer comprehensive support to our broker partners, delivering a complete buying experience for their customers until they receive payouts from closed transactions. We understand that developers face various complex issues, including litigation, construction, and finance.
Therefore, we address these concerns by providing our partners with the right guidance to choose the appropriate products and take their ventures forward. By combining technology-driven solutions with our commitment to transparency, compliance, and support, PropertyPistol ensures that brokers can effectively navigate the regulatory complexities of India’s real estate market. Our goal is to empower them with the tools they need to thrive and deliver exceptional service to their clients while upholding the highest standards of professionalism and integrity.
TechGraph: How does Property Pistol ensure the quality and reliability of listings and information available on the platform? What measures are in place to verify brokers’ and syndicate members’ credibility?
Ashish Narain Agarwal: Ensuring the quality and reliability of listings and information available on our platform is of utmost importance to us. To maintain high standards, we follow a stringent verification process that includes guidelines provided by RERA (Real Estate Regulatory Authority) approved developers.
Before onboarding any broker on our platform, we conduct a thorough empanelment process. This ensures that only credible and trustworthy brokers are associated with PropertyPistol. We carefully assess their track record, industry experience, and adherence to regulatory norms. By doing so, we ensure that our users can confidently rely on the brokers’ expertise and professionalism.
Additionally, we continuously monitor and review listings to maintain accurate and up-to-date information. We work closely with brokers to verify property details, ensuring that all listings meet our strict quality standards.
By combining these measures, PropertyPistol strives to provide a reliable and credible platform where users can confidently access accurate information and make informed decisions. Our commitment to transparency and quality assurance helps us create a seamless and trustworthy experience for all our users.
TechGraph: One of the criticisms often associated with online platforms is the potential for data security breaches and privacy concerns. How does Property Pistol address these concerns and ensure the protection of sensitive information shared by brokers and syndicate platform participants?
Ashish Narain Agarwal: To safeguard the data shared by brokers, we have implemented strict access controls and encryption measures. Our platform is designed with advanced security protocols to prevent unauthorized access and ensure that any information shared remains highly secure and protected.
We adhere to industry best practices and comply with relevant data protection regulations to safeguard user data and maintain confidentiality. Our team undergoes regular training and awareness programs to stay vigilant and proactive in identifying and mitigating any potential security risks.
Furthermore, we have robust monitoring and auditing mechanisms in place to detect and respond to any suspicious activities swiftly. In the unlikely event of a data breach, we have a well-defined incident response plan to mitigate the impact and protect our users’ interests.
At PropertyPistol, we are committed to maintaining the trust and confidence of our users. Through continuous improvement and vigilance, we strive to uphold the highest standards of data security and privacy, ensuring a safe and reliable platform for all our valued stakeholders.
TechGraph: With the increasing adoption of digital technologies and changing consumer preferences, what do you think the future holds for brokers in the Indian real estate market? How can they adapt and leverage platforms like PropertyPistol to stay relevant and thrive in the industry?
Ashish Narain Agarwal: Being at the forefront of industry changes, PropertyPistol understands that it’s not about shifting the market but embracing a pro-market approach.
With the implementation of RERA’s new norms, uncertainty has arisen, but Syndicate by PropertyPistol is well-prepared to adapt and empower brokers. For brokers, platforms like Syndicate by PropertyPistol present a potential game-changer. We are committed to driving profitability, and agent success, increasing their market share, and facilitating new product distribution.
Our platform catalyzes brokers to capitalize on the evolving real estate landscape, enabling them to access a wider customer base, streamline operations, and offer enhanced services through cutting-edge technology. Undoubtedly, by adopting and leveraging platforms like ours, the brokers will stand to flourish.