Real Estate websites in India primarily act as information portals and provide referral material. As an end user one has to review information on two to three such websites in order to be sure that it is authentic.
Some real estate developers also have their own websites; however, these are seldom updated and hold sketchy details. Thus, despite there being a number of property websites in India, an end user is still struggling to get the required information. This lack of transparency in the age of digital technology is harming the real estate sector more than anything else.
Whenever an end user gets different sets of information from separate real estate websites, it generates a doubt towards the authenticity of the same and the user is not sure which one to rely on. To add to this dichotomy, developers are also not forthcoming in sharing information and want to keep it close to their heart, following the old paradigm of trade secrets. It needs to be understood that in this digital era, sharing of information is empowerment and lends credibility to the real estate sector. Trying to conceal information only increases the trust deficit. Real estate websites in India need to strive to provide complete, authentic and verified information, with regular updates and highlighting the latest status of projects. Real estate websites in India need to be more accountable in case they are looking at playing a serious role in the real estate sector in India.
The real estate sector in India is going through a slow-down and struggling to recover; one primary factor which is further adding to its pain point is the property websites in India, which are unable to understand their role and responsibilities in the recovery cycle. These websites need to understand that they are very much a part of the Indian real estate ecosystem and cannot treat themselves to be outsiders, having no accountability but only a share in the revenues. In this period of slow-down real estate websites in India need to exploit their ingenuity and come up with ideas which would help the sector to recover faster, rather than be fence sitters.