Hyderabad’s Essex adds tech zing to realty sales

​Hyderabad: City-based Essex India on Monday launched technology-based property services which would enable home buying and selling a hassle-free exercise in the city. “We have tapped advances in technology to develop a customer-centric approach which will initially help residential real estate stakeholders. Our aim is to make buying a residential property a hassle-free and pleasant exercise,” Nirbhay Taneja, Chief Executive Officer, Essex India, told the media here on Monday. The startup is backed by Way2Online Interactive Private Limited.  

The RERA-registered startup, which developed its platform over a six-month period and acts as agent, offers its services free to home buyers while charges a commission ranging from 3.5 per cent to 5 per cent from developers. It has tied up with 40 developers in the city and is currently negotiating a deal with a developer for an exclusive mandate.

“We have a team of professionals who follow consultative approach, helping buyers understand the project details thoroughly. We also help them with home loans and handles all the aspects till a deal is closed,” said Chaitanya Reddy, co-founder and COO.

Pointing out that local brokers, agents and non-professional executives would always try to hard-sell, making the whole buying process mere transactional, Reddy said Essex India team would first try to understand the needs of a home buyer and select a property that would meet his or her expectations.     

Apart from sales, the startup also helps developers with brand activation, position their projects, strategizing campaigns, lead generation and lead management. Essex which already completed 230 sales transactions in Hyderabad is looking to expand to seven other cities. For that, it plans to raise $3-4 million.