140,971+ Members
   Get Started   Latest Posts Search Today's Posts Mark Forums Read
IREF® Real Estate in India - Property Discussion
IREF® - Indian Real Estate Forum > Local Meeting, Groups and Events > Real Estate Group Buying > General Group Buying Discussion Only > Group Buying on IREF – Food for Thought!!
Like Tree32Likes

Reply
 
LinkBack Thread Tools Search this Thread
Old January 13 2012, 02:54 AM   #1
New Member
 
rohaus's Avatar
 
Join Date: Jun 2010
Posts: 42
Likes Received: 15
Likes Given: 3
My Mood: Angelic
Default Group Buying on IREF – Food for Thought!!

Hi,

I could not find any threads where members have formed groups for negotiating real estate deals. Basically, I am looking for a property in Noida and thought of getting some people together to negotiate a better deal in a similar property. (Builder Apts).

There seem to be a couple of sites for buying property in groups but I was wondering why a popular website like IREF has no threads for group buying?

It would be nice to have some feedback from members and also from IREF on why this concept has not taken off on IREF, a wonderful free speech platform.

Thanks

Note: I have listed some excerpts from a couple of group buying websites! Can members identify any difference in their offering? (Anything Unique?). (All these group buying websites seem to have more or less the same business model.

1) ABC harnesses the power of group-buying and uses it to negotiate with developers for substantial discounts for each home buyer. Over XXX smart home buyers have already achieved huge savings up to Rs. XXX each through ABC’s Power of group buying! Join ABC’s unique group buying program for Savings, Quality and Delivery!

2) Have you ever planned to buy a house and visited the market? Dealt with a few brokers who didn’t have the entire gamut of projects in a particular area? Did you ever meet a developer and haggle but failed to get the right pricing for your purchase? That’s when we step-in!! At ABC.com we collate all like minded people to form a group and present it to a Developer; thereby you get a better pricing on your flat, which would be otherwise individually impossible.

3) ABC aspires to do a Groupon in the Real Estate space viz. provide builders with a platform to leverage group buying for quick disposal of their pre-launch or under - construction projects. We facilitate seller listing buyer aggregation through crowd sourcing! Individuals/ firms can enlist as affiliates and retain 80% of brokerage charged to builders/ developers.

4) ABC is a dedicated player in the online real estate group booking space. It aspires to become the largest platform for real estate crowd sourcing by using the power of the net to reach to a wide cross section of real estate sellers and buyers. We not only allow buyers to aggregate, we also provide sellers with a potent tool to offload their inventory through our website.

5) ABC seeks to empower buyers to benefit from buying in bulk. Discounts to a group of enlisted buyers is a common phenomenon. However, there are hardly any platforms which allow such aggregation. The success of group buying sites is testament to the inherent strength of the crowd. ABC also allows disparate buyers to come together, join hands and negotiate harder. For sellers, ABC allows sellers to make a quick sale to a group of buyers who have aggregated with intent to buy at a discount. ABC also provides sellers the platform to reach out to a large section of buyers at zero cost.

6) You can do group booking of your dream home in 3 simple steps at ABC - ABC negotiates a discounted Group Price with the Builders, Interested Buyers get the discount coupon online to participate in the group deal. Buyers present the discount coupon to the Builders/ABC Bookings to buy the house at the discounted price.

7) Group buying is a unique concept that facilitates property buying in cost effective and efficient manner through the power of group buying. Built around the concept of collective buying, ABC aggregates demand for real estate projects and then approaches the builder for a discount for the group that a single buyer cannot negotiate. In a group setting, Buyers can avoid real estate brokers (save commissions) and chose their representative to bargain with the builder/developer.

 
Old January 13 2012, 08:48 AM   #2
Ex-Moderator
 
fritolay_ps's Avatar
 
Join Date: Mar 2010
Location: Singapore
Posts: 12,686
Likes Received: 1672
Likes Given: 765
My Mood: Amused
Default

This group buying could be used by brokers on IREF as good tool to increase sales...You could see lots of dummy buyers who may make the buyer push on black hole

However, I agreed that in Group Booking.. you will get maximum benefits & ATTENTION from builder OR broker...
 
Old January 13 2012, 09:39 AM   #3
Veteran Member
 
gharondabhai's Avatar
 
Join Date: Nov 2010
Posts: 2,850
Likes Received: 660
Likes Given: 262
My Mood: Amazed
Default

Group Booking happens in LONG TERM MUTUAL TRUST.

It is bad for a good intention and clean person to take initiative and be accused of commission out of group bookings

It is equally bad to be taken into a ride in the name of group booking.

Give you an example, it is so much much cheaper to buy a piece of land and build a 8 flat apartment building of your choice. You just need 8 similar minded people with 2-3 active members. Those who had gone through the process knows how ugly it turns out in reality. Eventually 4-5 people will sell their flat within 2 years. Human beings are not truly social animals.
ashish18, Bobbydel and JumboHulk like this.
 
Old January 13 2012, 11:23 PM   #4
Member
 
Join Date: Dec 2010
Location: noida
Posts: 90
Likes Received: 3
Likes Given: 11
My Mood: Breezy
Default

Can somebody pls throw light on this:

1) In Group Buying how people decide which flats goes to whom ?? everybody would prefer east facing flat or may be garden facing on 1st , 4th 8th floor ??
2) How do people agree to believe in 1 project among so many ?
3) What drives project ? Lesser price or builder or location ?
4) Where is the IREF link for group buying ?
 
Old January 13 2012, 11:27 PM   #5
Senior Member
 
Join Date: Dec 2011
Posts: 693
Likes Received: 71
Likes Given: 74
Default

nice thread, more comments are required particularly from the veterans & if forming such groups is allowed on IREF.
 
Old January 13 2012, 11:35 PM   #6
 
Join Date: Jun 2010
Location: Global
Posts: 829
Likes Received: 81
Likes Given: 5
My Mood: Angelic
Default

Quote:
Originally Posted by Titlee View Post
nice thread, more comments are required particularly from the veterans & if forming such groups is allowed on IREF.

Very much possible to form such a group, form a co-op housing society ,buy a plot of land say 2 acres ,and get a contractor to build as per your specification.
 
Old January 14 2012, 01:10 PM   #7
Veteran Member
 
gharondabhai's Avatar
 
Join Date: Nov 2010
Posts: 2,850
Likes Received: 660
Likes Given: 262
My Mood: Amazed
Default

Quote:
Originally Posted by deepakgoyal9 View Post
Can somebody pls throw light on this
1) In grp buying how ppl decide which flats goes to whom ?? everyvbody would prefer east facing flat or may be garden facing on 1st , 4th 8th floor ??
2) How does ppl agree to beleive in 1 project among so many ?
3) What drives project ? Lesser price or builder or location ?
4) Where is the link of grp buying ?
1) In grp buying how ppl decide which flats goes to whom ?? everyvbody would prefer east facing flat or may be garden facing on 1st , 4th 8th floor ??
>>> LOTTERY
2) How does ppl agree to beleive in 1 project among so many ?
>>> Someone decide the project/land first and then rope in other members.
3) What drives project ? Lesser price or builder or location ?
>>> Passion. Less price, better quality, 6-8 months possession, less maintenance fee.
harish_agr likes this.
 
Old January 14 2012, 01:25 PM   #8
New Member
 
Join Date: Dec 2011
Posts: 39
Likes Received: 6
Likes Given: 8
My Mood: Amazed
Default

Indeed IREF is only meant for discussions and not for group buying.... There are many other platforms that offer group buying in terms of properties. These portals today help us understand the real estate market & prices better..

And when in a group, we know that we’ll always be grabbing a good discount. Negotiations taking place in groups definitely provide with a good bargain. We have many group deal websites running today one of which is

It benefits all the parties involved in it….The customer, the source and the builder. Group buying has worked for many buyers in the past and will continue to in future as well.. n I don’t think IREF promotes negotiations for group deals at present..
 
Old January 14 2012, 03:53 PM   #9
Member
 
Join Date: Oct 2011
Posts: 108
Likes Received: 10
Likes Given: 22
Default Problem of Trust

Quote:
Originally Posted by gharondabhai View Post
1) In grp buying how ppl decide which flats goes to whom ?? everyvbody would prefer east facing flat or may be garden facing on 1st , 4th 8th floor ??
>>> LOTTERY
2) How does ppl agree to beleive in 1 project among so many ?
>>> Someone decide the project/land first and then rope in other members.
3) What drives project ? Lesser price or builder or location ?
>>> Passion. Less price, better quality, 6-8 months possession, less maintenance fee.
I beleive on any such forums,there would always be a problem of trustworthiness ,even if 5-6 ppl are readying for buying in the same project.(although its very profitable and can save anything between 3-5 lacs in group buying of atleast 10 people as builders/brokers normally provide good benefits to such ppl...i have seen this happneing in noida in many projects specially in Antriksh(Sector78), Paras Tiera(Sector 137), Purvanchal (Sector137),Gardenia-Golf City (Sector 75) where corporates like ONGC,IFFCO,NTPC,Adobe,HCL,CSC have goot wonderful deals in group bookings in the past 2 years)
 
Old January 14 2012, 04:33 PM   #10
New Member
 
rohaus's Avatar
 
Join Date: Jun 2010
Posts: 42
Likes Received: 15
Likes Given: 3
My Mood: Angelic
Default

While IREF is certainly meant for “constructive” discussions; it provides a wonderful platform for people to come together and share knowledge and help each other. I am sure many people have immensely benefited from this forum and made WISER investment decisions and also gained knowledge.

There could be some bias information from brokers but on the WHOLE, IREF offers a free and fair platform.


As far as other platforms are concerned, these ‘group buying’ sites are nothing but a hand-shake between brokers and some literate IT savvy people who are trying to work out a group deal business model.

Example: I am looking for a 2 bedroom apartment in Noida. So I start my research and check out a few properties. When I have finally narrowed down and short listed 2-3 properties, I could create a ‘Group Requirement’ for those 2-3 properties and see if there are others out there with similar interests.

The bigger the group, the better the bargaining power. Once some people connect on a thread, we could finalize a face-to-face meeting in a coffee shop and discuss our requirements. We could then appoint 1-2 people from the group to negotiate a better discounted deal from the builder. (Brokers are not allowed in this group). It would be easy to identify a broker and his intentions when the group meets together.

Advantages:

- No Brokers or their vested interests in highlighting the projects of their choice.

In case of these ‘group buying’ websites, they would have already short listed a couple of projects and got discounted rates and preset their own commissions. Then they post their project and try and find people out there. There would be limited choice on offer and brokers, brokers and brokers everywhere. Even if an IT guy heads the operations of this business model, he is in-directly a broker.

These group buying portals are no different or better than listing websites. They are out there to find buyers like you and me and strike a deal and make their own commissions.


However, in case of a FREE AND FAIR group buying discussion on IREF,
WE – THE BUYERS
would further end up saving the commissions that these group buying sites earn (that would actually be a further discount to us).

Why have a MIDDLE MAN – These sites are nothing but brokers in disguise.

It would be nice to have some feedback from our veterans, senior and everyone. Please pitch in so that we can propose IREF/ADMIN to look into this.

Excerpt from IREF Announcement:
Quote:
“The readiness of this forum is to allow its members to exercise their right to free speech”.
So please allow Group Buying Concept on IREF.

Members could pitch in how this can be implemented and chalk out the pros and cons and how to keep such area away from brokers.

Thank You!!!
 
Reply
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Join IREF Now!    
Related Threads
Food for Thought regarding Home Loan !!
One is Enough! – Food for Thought!!
No Food But Real Estate - Food For Thought
History Repeats itself.......Food for Thought!!
Food for thought


Tags
buying, estate, group, iref, real
"..", ".."India