Mapofi..A new wave in real estate search

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  Indian real estate is highly unregulated, unorganised market with huge potential. The information flow is concentrated to brokers and agents which acts as their only tool to extract money from buyers and sellers.
  
  The most important factor as we all know in real estate is Location, Imagine what happens if the location information is made freely available to public. Its happening in other parts of the world and india will not be untouched. www.Mapofi.com is one such initiative which is breaking ground and actually have taken steps to provide a way to where the future lies. Its interesting to know that Buyers and sellers save 50% on their commission when they transact through Mapofi. Without compromising Real Estate Agents share.
  
  Indian real estate market has one of the lowest rate of commission structure (2%) as compared to its european and American counterparts. Still the lack of regulation makes it a bitter experience for the sellers and buyers with increasing number of insecure real estate brokers. There is an urgent need to make this market more regulated and rules drawn clearly and transparently. A combined intiative from Govt. and real Estate community is required.

  22 Oct 2007, 07:43 Mapofi