In a little over four years, Bproperty has become a revolutionary figure in Bangladesh’s real estate market. But unlike other famed organizations in the property market, this feat was not achieved by creating residential or commercial projects, rather, they have been able to build a reputation for themselves by providing reliable and transparent property solutions to consumers, sellers, developers and businesses.
In four years, Bproperty has been able to become a trusted and reliable source in the market, where previously, real estate was often associated with a den of fraudsters.
For most of the modern history of the country’s real estate, the recurring complaint from people was about how deceitful the industry could be. It was not only unforgiving but also full of people who would abuse the complexity of real estate and legal matters to scam many people out of their hard-earned money and property.
The people back then had to rely on third-party local brokers, many of whom were as shady as it can get.As a result, confidence in real estate, both as an investment opportunity and as a housing solution, was almost obliterated.
But Bproperty, since their inception, aimed to bring that confidence back up — create an atmosphere of reliability where people can engage with real estate without having to worry about pitfalls, scammers and dishonesty. To that end, they introduced a series of custom-made supportive services for real estate enthusiasts which would allow them to access their required services from a single source. This includes connecting buyers to sellers, verifying property quality, vetting property documents and helping to create necessary documents — all the while keeping everything transparent to all concerned parties.
This had been a breath of fresh air for the market as they desperately needed a force that would have regained the confidence of the consumers. Most of the 2010s had been a slow and down period of the real estate sector of the country. Low demand reduced property prices and developers were forced to take losses for a lengthy period of time.
Not to mention that the independent sellers of the secondary market also experienced a great deal of uncertainty and loss during this period. It was only in the recent few years that the market saw an upturn in property investment.
The confidence and reputation that Bproperty has been able to build over the years are now paying dividends by helping the real estate market keep on running during this current lockdown situation. Bproperty’s use of technology in real estate, custom service and own property experts are able to bring buyers and sellers as well as tenants and landlords together. The property solution provider's online platform enables buyers and tenants to find their desired property from thousands of available real estates — a task that would not have been possible now as outside movement is restricted.
However, that is not the only aspect Bproperty helps with. Any prospective buyer or tenant can even view their intended property before booking or renting it — made possible thanks to their implementation of virtual and video tours of the property. The concept itself it entirely new in the context of Bangladesh and it was Bproperty who first introduced it to the local market. As a result, people are able to “visit” a property without leaving their seats.
And most surprisingly, as a testament of Bproperty’s attained goodwill and impeccable reputation, people are, even during this lockdown period, booking their flats on both primary and secondary properties through Bproperty — an unprecedented feat. Booking real estate without physical inspection was thought to be impossible in the local market up until now. But this has become evident by their continuous real estate transaction that things have changed a lot now — mostly for the better.
For sellers and landlords, this has been a godsend. Even though real estate demand is ever-present and people’s appetite for property is insatiable, the current situation has forced people to rethink putting off many of their investment decisions. But thanks to Bproperty’s services and empowering prospective buyers and tenants to explore and buy/rent properties, sellers and landlords will not have to worry too much about their properties being transacted.
Developers will also be great beneficiaries of this as well. As the demand for property type changes, the developers will be able to concentrate to their fullest on meeting that demand whilst Bproperty can be relied upon for marketing those projects. This will ensure that units do not remain unsold longer than necessary and are brought to the right people who are really looking for them.
In the aftermath of the novel coronavirus pandemic, these services will be instrumental. The lives of the people and their behaviour need to and will change, to incorporate a “safer” lifestyle. And at that time, online platforms and reliable sources like Bproperty will be an indispensable service. The need for real estate will never subside as well as the need for real estate services. However, as long as there are property solutions that are easily accessible and trustable, all property needs will continue to be met.
