99acres is one of the most successful online real estate business portals. Such industry platforms are very popular because they offer buyers and sellers easy access to all their property requirements. New-age users search online for properties, and if your property business is not listed online, acquiring clients might get difficult. A scalable business model like 99acres can offer your realty business an online presence and consistent business revenue.
If you are planning to enter the property market with an online business, getting inspired by 99acres’s business strategy can be a good idea. Let’s understand in detail how to set up an online real estate business like 99acres.
Understanding the 99acres Business Model
99acres is a complete online marketplace for property seekers and owners. It offers separate pages and sections for tenants, owners, buyers, and real estate agents to ensure a personalized experience.
Top business features include:
Listing-Based Platform
Property owners and agents can upload their listings to attract buyers. It includes property details, images, and pricing quotes.
Lead Generation Engine
Buyers who search for listings get directly connected with sellers or agents. It offers every service provider active business leads.
Freemium + Paid Listings
99acres offers basic users free listings. However, the platform also features premium listings, which are paid. This helps generate extra business revenue.
Advertising Revenue
Developers and agencies can also pay the platform to boost their visibility with target users. 99acres allows paid ads to get featured and promote specific sellers.
Additional User Services
Users can find different tools like property valuation, home loan assistance, and legal help to complete and support their real estate decisions on the same platform.
This model succeeds because it scales easily. More listings attract both sellers and buyers, offering personalized service to all.
Choosing the Right Online Real Estate Business Model
If you are looking to set up your own real estate business, the first step is always finalizing the business model you want to build. Top business ideas you can try are:
Marketplace Model
It is a direct buyer-seller platform similar to 99acres. It scales easily with sellers posting their properties and buyers connecting if the property fits their needs.
Aggregator Model
This real estate platform model collects listings from multiple sources and displays them in one place. It is after launch and offers users a variety of choices for better deals and conversions.
Niche Platform
In this realty model, sellers focus on a specific niche only. It can be luxury properties or commercial spaces only. It offers buyers a personalized experience without much distraction.
Hybrid Model
This is one of the most scalable real estate business models. It offers listings, brokerage services, and real estate tools all on one platform to keep the user traffic high.
Key Features of an Online Real Estate Platform Like 99acres
A successful platform must offer users a mix of basic and advanced features. Below is a detailed list of features your business platform must offer users for long-term growth:
Core Features
- Advanced property search with search filters
- Interactive maps and location insights
- High-quality images and virtual tours
- Customer support helpline
- Verified listings for user trust
- Different user dashboards for buyers and sellers
Advanced Features
- AI-based property recommendations
- Price trend analytics
- Chat and inquiry management system
- CRM for agents and developers
- Mobile app compatibility
These features are essential to improve user engagement on the platform.
How to Set Up an Online Real Estate Business Like 99acres
Once you are ready with your business model and services, here is how to set up your business
Develop the Platform
Work with a development team to build a scalable and user-friendly platform. Focus on:
- Clean UI/UX
- Fast loading speed
- Mobile responsiveness
Onboard Property Listings
Without listings, the platform has no value. Start by:
- Partnering with agents and builders
- Allowing free listings initially
- Verifying properties to build trust
Set Up Monetization Channels
Define how your platform will generate revenue. Choose a revenue model:
- Premium listings
- Featured ads
- Subscription plans for agents
- Lead generation fees
Launch Marketing Campaigns
Ensure how your website will be marketed. Drive traffic through:
- SEO for organic visibility
- Paid ads for quick reach
- Social media promotions
- Email campaigns
Early traction is critical for platform growth.
Manage Operations
Once your platform starts to operate, ensure you:
- Monitor listings quality
- Respond to user queries
- Track leads and conversions
It helps to continuously improve platform performance.
- Scale with Automation
Use advanced tools that help to understand user behavior. Use it to:
- Property recommendations
- Search results
- Marketing campaigns
Estimated Cost to Start a Platform Like Magicbricks
The cost of building an online real estate platform depends on features, scalability, and technology stack.
Basic Platform
Cost estimate: $8,000 – $15,000
Features: Listings, search filters, basic UI
Mid-Level Platform
Cost estimate: $15,000 – $35,000
Features: Advanced filters, user dashboards, CRM integration
Advanced Platform
Cost estimate: $35,000 – $70,000+
Features: AI recommendations, analytics, mobile apps, automation
Additional Costs
- Marketing & SEO
- Hosting & maintenance
- Third-party integrations
Conclusion
Building a scalable online real estate business like 99acres can be successful with careful strategy and planning. If you are thinking of building your own platform like 99acres, following our guide can help you with your business planning. With SmartKey Realty, you can get more real estate updates to stay updated with the best industry practices. Book a free property consultation with SmartKey Realty today!
