Understanding Consumer Behaviour during House-Hunting - Summary
- 1. UNDERSTANDING CONSUMER BEHAVIOUR DURING HOUSE-HUNTING PREPARED BY ABHISHEK PADHY RUMANI CHAKRABORTY VINOD GUPTA SCHOOL OF MANAGEMENT, IIT KHARAGPUR
- 2. ABHISHEK PADHY, RUMANI CHAKRABORTY 1 UNDERSTANDING CONSUMER BEHAVIOUR DURING HOUSE-HUNTING ACKNOWLEDGEMENT We have immense pleasure in successful completion of the market research work titled Understanding Consumer Behavior during House-hunting , as part of the Winter Internship with HappyLocate. We take this opportunity to express our sincere thanks to our mentor Mr. Sainadh Duvvuru Co- Founder & CBO, HappyLocate, for his valuable advices, guidance, active supervision and constant encouragement, without which it would have been impossible for us to give the progress report in this shape We are also thankful to all the respondents who participated in our survey. Their valuable insights and experiences helped us understand the current gap in the market and helped us in the initial phase of the research. Abhishek Padhy Rumani Chakraborty Date: 31st December 2020 Vinod Gupta School of Management, IIT Kharagpur
- 3. ABHISHEK PADHY, RUMANI CHAKRABORTY 12 UNDERSTANDING CONSUMER BEHAVIOUR DURING HOUSE-HUNTING CONCLUSION Having a strong network of property agents is important in Tier 1 cities. This is because most of the people relocate to these cities, mostly due to job. Most of the potential buyers or tenants expect the property to be in good location, such that o all basic amenities are provided o facilities like market and hospital are nearby o daily commutation to office is convenient enough People expect the property agents to give o reliable reviews o provide good coverage of the properties o varied range of properties o quick response to the queries o varied range of price/rent o two-way communication o assistance in negotiation o facilitating in amenities and installation o personal connect People recommended following in property agent service - o authenticity in reviews o precise address o site/app maintenance o accurate rent amount o recommendation based on filters o transparent negotiation 67% of the respondents were found willing to pay extra for the transportation benefits provided by the property agents. This shows that people prefer convenience now-a-days. ) after the deal has s possession or in advance. Customers also expect some services even after the deal has been agreed upon from the brokers such as - o Help with any other extra amenities from house owners o Contact and response when and if required o Assistance in documentation work of lease agreement o Support in recovering the Advance paid from landlord while shifting