In the real estate sector, middlemen have always played a crucial role in property transactions. Whether buying a house or land, buyers had to pay a commission based on the property’s value. However, with technological advancements, technology has now replaced intermediaries in real estate dealings.
Today, most property purchases happen online, eliminating the need for brokers. Experts in the real estate industry estimate that India saves nearly Rs 2,000 crore annually in brokerage fees due to online property transactions.
Brokerage or commission has always been a common aspect of the real estate sector. Whenever someone purchases a property, they are required to pay a commission to the intermediary who facilitated the deal, whether an individual or a company. The brokerage amount depends on the property’s value, and since it can be substantial, many government employees, housewives, and even unemployed individuals have engaged in real estate brokerage as a source of income.
However, with changing times, this trend has significantly shifted, largely due to technology reducing the importance of intermediaries. Today, most property transactions occur without brokers. Most property buyers now conduct negotiations online, directly contacting property developers or builders instead of relying on middlemen.
Homebuyers are now gathering all necessary details—such as property prices, advance payments, and construction agreements—entirely online. Additionally, with busy lifestyles and advancements in technology, buyers are monitoring construction progress through video walkthroughs, eliminating the need for frequent site visits. As a result, the role of intermediaries in home purchases has significantly declined.
According to national and international real estate market reports, the demand for online property transactions is increasing daily. Across major metro cities in India, approximately 30–40% of homebuyers now rely on online platforms for their property purchases. Experts say these buyers make decisions after viewing video walkthroughs of properties. While cities like Bangalore, Mumbai, and Pune have seen a rise in online real estate transactions, cities like Delhi and Hyderabad still depend more on traditional brokers for property deals.
Professionals working in IT and other high-profile industries often struggle to visit the property they intend to buy due to their busy schedules. For such buyers, technology-driven solutions like video walkthroughs allow them to explore properties virtually and make payments online. This shift to online real estate transactions has led to significant savings on brokerage fees.
However, real estate experts highlight some drawbacks of buying property online. When purchasing through a broker or mediator, they act as a bridge between the buyer and the seller, helping to resolve any disputes that may arise later. In contrast, direct online purchases require buyers to handle any issues themselves, as there is no mediator involved. Experts advise potential buyers to consider this factor before making a final decision on purchasing property online.
