Square Yards, the technology-enabled transaction and aggregation platform for global real estate which recently scooped up $6 Million from multiple investors, has announced the launch of a new mobile app called Square Connect.
The new app has been launched with an aim to bring together real estate brokers, independent financial agents, stock broking firms and financial institutions under one platform.
This means, that real estate agents are no longer confined to their local business area, and can also start operating in other high-potential markets to gain higher commission slabs from developers.
Square Yards claims, that the app is a one of a kind mobile-only aggregation platform for primary real estate in India. Square Connect has already managed to enroll 10,000 real estate brokers across 12 different cities. The company has also tied up with 25 top stock broking firms and financial institutions and believes its users can reap the benefits of this access through the app.
Through this app, brokers and agents can pick exclusive sourced deals from grade-A developers across top 12 cities in India, and make bookings through the platform. They can also track status of their payments with complete transparency.
The company states that since small real estate brokers and agents have limited access to source good deals from grade-A developers, they can leverage their network and commission through this app. Square Connect will not only benefit the small players, but also the booming independent financial consultants and stock broking firms.
Square Yards also plans to reach 100,000 brokers and partner with 100 institutions by the end of 2016. The company claims that this would be the largest distribution network of primary real estate in the world.
With the Square Connect program, we are pivoting our business model to be more of a technology-enabled aggregator and distributor of primary real estate rather than a pure play transactions advisory,
said CEO and Founder Tanuj Shori.
He further adds, that “Square Connect’s unique platform will help Square Yards to reach the targeted 20% market share of primary residential market in India by consolidating supply and demand, creating significant barriers of entry through scale, sourcing capabilities, and use of technology to enable multi modal distribution platforms.”
Square Yards, headquartered in Gurgaon was founded by Tanuj Shori and Sahil Shah in 2013 and claims to be the leader in primary residential real estate in India by revenue. The company currently serves more than 3500 customers across the globe, and principally aims to become the ‘Uber’ for real-estate agents