Nothing is simple when it comes to purchasing, selling, or investing in real estate holdings. To find a property that meets one's needs, one must conduct extensive market research. Selling a real estate property, on the other hand, is a difficult task that takes a long time in most circumstances. Furthermore, pricing talks are often a thorny problem. Fairpockets, a Noida-based firm, takes care of all of this for you so you can effortlessly buy and sell properties. The company can even assist you in profitably managing your existing properties.
Fairpockets - Key Highlights
- Startup Name - Fairpockets
- Headquarter – Noida, Uttar Pradesh, India
- Founders - Ritesh Anand & Rumki Sengupta
- Sector - Real Estate Tech
- Founded - 2017
- Website – www.fairpockets.com
- Parent Organization - Chilin Prop Pvt. Ltd.
Fairpockets – Indian Property Marketplace
Fairpockets is a mobile marketplace for builder brokers and a fair price property platform. It's an online marketplace that brings buyers, sellers, and brokers together. Fairpockets enables free property posting on its platform for sellers, and property value is done for resale properties before they go up. It even proposes investing alternatives to sellers after they sell a home. Fairpockets can also get used to renting outhouses.
Fairpockets Startup – Founders
- Ritesh Anand - Ritesh Anand is co-founder and CEO of Fairpockets. Ritesh earned his MBA from Ivey Business School, Canada and worked in the media/internet industry for over 15 years in sales, strategy, and business head. He has an extensive history of real estate investing in various locations where he has completed residential, commercial, land, and joint venture transactions with developers.
Founder’s Fact – Ritesh also enjoys teaching and has worked as a visiting faculty member at IIM Raipur and IMT Ghaziabad.
- Rumki Sengupta – Rumki is Fairpockets' Co-Founder and Director of Operations. She has 14 years of human resource and operations experience and graduated from Pune University and Sunstone Business School with an MBA degree. Rumki is also an artist who has shown her art in several group exhibitions. Rumki is in charge of operations and research.
- Digpal Singh – Digpal has been developing small to large online applications utilizing PHP, CakePHP, and the Laravel framework for over six years and has a master's degree in physics and a bachelor's degree in computer science.
Fairpockets Startup – Brand Name and Logo
- Brand Name – Company’s brand name “Fairpockets” was chosen to reflect the company's objective of bringing price transparency to the real estate industry.
- Logo – The logo of the company is in the shape of a house. It resonates with the idea of the business.
Fairpockets - Target Market
Builders and Brokers are Fairpocket's current target market in the Real Estate industry, as it currently offers a SaaS solution. However, only significant developers and a few brokers in India presently use real estate CRM.
|Client Segment||Real Estate, SaaS, Marketplace|
|Target Companies||Medium Enterprise, Small Enterprise, Large Enterprise|
Fairpockets - Business Model & Revenue Model
Fairpocket's business approach relies upon offering builders and brokers mobile project listing and software services. Through Fairpockets' mobile or web platform, builders may provide all vital information about their project, price, inventory, leads, and more to their sales team and channel partners.
Revenue Source - Fairpockets makes money by charging builders for access to its web and mobile app services, and it has just started charging brokers as well.
Note : Fairpockets is a bootstrapped startup and has not received any funding yet.
Fairpockets – Startup Challenges
Some of the challenges faced by the startup are as follows:
- Right Business Model - Getting the business model right was one of Fairpockets' most challenging hurdles.
- Decreasing the Time - Decreasing the time it takes for property owners and developers to sell their properties was a challenge. They split the problems into 3-4 tiny or tactical challenges and began fixing them one by one to overcome these difficulties. It ensured that each solution produced income for them and solved the significant problem much more efficiently.
Fairpockets Startup – Competitors
Fairpockets is now active in the Real Estate B2B SaaS area. Some of their active competitors in the market are as follows:
Fairpockets - Future Plans
Fairpockets will concentrate on transaction services in the future, fragmented industry with a few significant competitors. In the long run, FairPockets hopes to connect serious property sellers with its broker network, assisting them in selling their property quickly and within a set timeframe, thus introducing certainty. Currently, the company's short-term goal is to assist builders and brokers in increasing sales, reducing costs, and increasing transparency.