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MagicBricks

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MagicBricks
Company typeReal Estate
IndustryReal Estate
Founded2006; 19 years ago (2006)
HeadquartersNoida, India
Key people
Mr. Sudhir Pai
OwnerTimes Internet
ParentThe Times Group
Websitewww.magicbricks.com

Magicbricks is a website that provides a common platform for property buyers & sellers to locate properties of interest in India, and source information about all property related issues. In 2022, Magicbricks launched its full stack services by providing a bouquet of 15+ services like expert advice, home loans, legal assistance to decor consultation amongst others.[1]

Company initiatives

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Magicbricks employs Natural Language Processors (NLPs) to improve conversations by analyzing key metrics such as speech rate, call sentiment, and conversation balance.[2]

Magicbricks with IIM Bangalore launched the Housing Sentiment Index.[3] It was launched in 2013 and the last report generated was in 2014.[4][5]

In 2023, Magicbricks launched the Bank Recommendation Engine which recommends the ideal home loan partner for home-buyers.[6][7]

In 2024, Magicbricks launched PropWorth, a tool which provides instant property valuations for 50,000 projects.[8]

At the same time Magicbricks launched MagicHomes, a centralized platform which brings information on authenticity and compliance of new projects sourced from verified authorities like RERA and a curated selection of nearly editorial reviews.[9][10]

Magicbricks bought a majority stake in PropViz, a company that made property viewing technology.[11]

Services

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Apart from buying, selling & renting properties in India, users have access to the following services as well:

  • PropIndex is a tool by Magicbricks which provides information on the movement of residential apartment prices and supply of properties in India for some major cities & adds more cities on a regular basis as well.[12]
  • News section of Magicbricks "Property Pulse"[13] includes property news, home loans concerns, legal & taxation issues, expert opinion and analysis of property trends.

Magicbricks campaign

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In March 2014, Magicbricks went live with an integrated campaign across all media (TV, Digital, Radio and several others mediums) to position itself as a property portal that helps users decide on the right kind of property. The current campaign carries a tagline "Property Sahi Milegi Yahin".[14]

In 2022, Magicbricks unveiled itself as the one stop destination for properties, in a new campaign with brand ambassador Ayushmann Khurana.[15]

In 2023, Magicbricks launched #StoryHarGharKi, to demonstrate category leadership in seamlessly connecting homebuyers and sellers, assisting them with advisories and relevant services.[16]

Awards

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Year Awards
2011–2012 Real Estate Excellence (REE) Award for the Best Property Portal[17]
2014 State Bank of India (SBI) awarded Magicbricks the title of "Partner in Prosperity"[18]
2014 The National Real Estate Development Council (NAREDCO) awarded Magicbricks.com the title of "Best Real Estate Portal"[19]

See also

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References

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  1. ^ "Ayushmann Khurrana presents Magicbricks as the one stop destination for properties in new campaign". ET Brand Equity. 18 February 2022.
  2. ^ Kumar, Aishwaraya (2 September 2024). "AI-Saas play in real estate: How Magicbricks integrates technology to enhance real-estate solutions". Hindu Business Line.
  3. ^ "IIMB- MagicBricks Partner Launch Housing Sentiment Index – Indian Institute of Management Bangalore". Iimb.ernet.in. Retrieved 17 October 2014.
  4. ^ "Housing Sentiment Index - Property Survey By MagicBricks and IIM Bangalore". www.magicbricks.com. Retrieved 8 November 2023.
  5. ^ "Home buyers expect prices to fall in 6 months: Survey". Moneycontrol.com. Retrieved 17 October 2014.
  6. ^ "Magicbricks expands AI powered bank Recommendation Engine for Home Loans". RealtyNxt.
  7. ^ "Magicbricks scales up its AI-Powered 'Bank Recommendation Engine' to identify best Home Loan partners". Express Computer. 14 June 2023.
  8. ^ Kumar, Aishwarya (2 September 2024). "AI-Saas play in real estate: How Magicbricks integrates technology to enhance real-estate solutions".
  9. ^ ANI (4 March 2024). "Magicbricks Launches MagicHomes: A Comprehensive Guide to all New Projects Amidst Surging Residential Demand".
  10. ^ "MagicHomes will inform you about the new projects". The Times of India. 5 March 2024.
  11. ^ "Magicbricks acquires majority stake in PropViz - ET RealEstate". ETRealty.com. Retrieved 13 December 2024.
  12. ^ "Magicbricks Adds Baroda to the PropIndex – Now Covers 12 Cities Pan-India". Propertyportalwatch.com. Archived from the original on 21 October 2014. Retrieved 17 October 2014.
  13. ^ "MagicBricks.com Launches Property Pulse – India's Biggest Real Estate Content Section". Istockanalyst.com. Retrieved 17 October 2014.
  14. ^ "MagicBricks.com rolls out a phased multi-city OOH campaign to promote its positioning". Propertyportalwatch.com. Retrieved 17 October 2014.
  15. ^ "Ayushmann Khurrana presents Magicbricks as the one stop destination for properties in new campaign". ET Brand Equity. 18 February 2022.
  16. ^ "Magicbricks' #storyhargharki campaign presents real estate solutions in a quirky family narrative". Afaqs. 5 October 2023.
  17. ^ "MagicBricks wins Real Estate Excellence Award for 'Best Property Portal'". India Digital Review. Retrieved 17 October 2014.
  18. ^ "SBI awarded MagicBricks.com for Exemplary Partnership". Indiainfoline.com. Retrieved 17 October 2014.
  19. ^ "Magicbricks wins "Best Property Portal" Award from NAREDCO". Tbsl.in. Retrieved 17 October 2014.
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