OLX, the online classifieds marketplace for auto, real estate and goods and services with 40 million monthly active users will double the headcount of its sales team in 2019.
Real estate is among its fastest growing verticals and OLX plans to expand focus in this area. The online marketplace has seen a tenfold increase in average ticket size of real estate projects listed on the platform from Rs 20 lakh to Rs 2 crore and expects to expand listings to 25 cities in India, according to a release.
OLX has also doubled revenue from business listers on the platform, particularly from premium developers who list projects upwards of Rs 1 crore. Business listers on OLX doubled spends in 2018 over 2017.
Sunny Kataria, VP, real estate category, OLX India said, “we are focused on transforming the way consumers and sellers buy and sell real estate online. We will scale our presence across residential and commercial properties listed on OLX in 2019.”
Real Estate is among the fastest growing categories on OLX. One in every five users on the platform visits the real estate section. In the residential property listings, the key ones are listings are in the price bracket of (40 lakh to Rs 1 crore) and listings of premium properties of above Rs 1 crore. In the commercial property, listings include office spaces, shops, plots of land, farmhouses and builder floors.
In 2018, the platform witnessed major traction across the key real estate hubs of Delhi NCR, Mumbai, Hyderabad and Bengaluru. The new sales team will be responsible for onboarding builders, professional sellers, tenants and engaging with the local real estate communities with a focus on premium developers. The team will also assist the sellers in understanding the challenges faced by them and train them on the tools available on the platform to increase visibility with buyers.
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