Sumit Jain is one of the top entrepreneurs in Asia, says The Asian Entrepreneur Magazine

Sumit-Jain

Sumit Jain, CEO and CoFounder at CommonFloor.com takes us through his journey to build CommonFloor in his interview to The Asian Entrepreneur (TAE) magazine. TAE is an international business monthly publication that documents leading developments in business industries across Asia. The magazine focuses on the Asian start up ecosystem by interviewing business individuals and entrepreneurs operating in Asia. Don’t miss the tips and advice that he offers to the aspiring entrepreneurs.

In your own words what is CommonFloor.com?

In simplistic terms, CommonFloor is ‘the answer’ to all your property related queries. CommonFloor.com, is India’s leading real estate platform that combines property search, apartment management and vendor management and caters to a person’s complete residential requirements.
From searching for an apartment to facilitating interactions within an apartment community on the ‘CommonFloor’ platform, to connecting one to relevant service providers, the platform is dedicated to meeting all aspects of consumers’ needs around their home. With over 5 lakh active property listings from over 200 cities, it has over 1 lakh residential projects listed with it. CommonFloor.com has been funded by Accel Partners, Tiger Global and Google Capital.

How did you come up with the idea of CommonFloor.com?

The sole aim behind the inception of CommonFloor was to provide property seekers with a platform where they don’t have to use just the traditional ways of finding a property and making the online house hunting much simpler and hassle-free. The idea is to help property seekers reduce the time spent looking for properties that match their requirements and help them make effective decision with the best deals available.

Could you walk us through the process of starting up CommonFloor.com?

It all started when we (the three co-founders of CommonFloor.com – Sumit Jain, Lalit Mangal & Vikas Malpani) came to Bangalore in 2007. Initially, the three of us individually faced lot of challenges in finding the right accommodation. Finally when we did find something, a host of other issues began coming up. One of the biggest problems the apartment complex we were living in was facing was a major sewage blockage. This issue wasn’t getting resolved since very few residents knew each other or had any sort of co-ordination amongst themselves.

Privy to these problems, the three of us decided to create a way to bring people on a common floor or a single platform and hence the idea for CommonFloor.com was born. It was a challenge initially to get communities on board and we had to come up with several iterations to get the product right. We also had to keep the product flexible enough to accommodate different priorities of different communities while still ensuring a good user experience for all. The real confidence came when the communities that adopted us in the beginning started to see real value in our product, appreciated our efforts and even partnered with us in improving it. That is when we started believing that CommonFloor.com will work.

Did you encounter any particular difficulties during start-up and if so, how did you guys overcome it?

Our focus has always been on empowering people to realize their property dreams. We aim at providing users with the latest technology giving them a thorough analysis of the property which will eventually help them make an efficient decision. When you are starting off, there are a set of challenges that needs to be taken care of. Creating a brand from the scratch is a time-consuming process and sustaining it, nurturing it is a different challenge altogether. Of course, you need to get like-minded and passionate employees which is another challenge. I am proud to inform you that, today, we have built a great team of over 1000 employees and our constant endeavour is to get the best of talent work with us.

How have you been developing CommonFloor.com since start-up?

As a new-age online realty player, technology and innovation are part of our core DNA. Property buying demands huge time and financial investment by the buyer and it is our constant endeavour to create tools and technology that makes property search easy for the consumer and gives them a wow experience. CommonFloor Retina is a result of one such quest that adapts technology smartly to the consumer’s advantage.

CommonFloor Retina is the world’s first virtual reality innovation in real estate that is available to the masses. This technological breakthrough offers ‘real’ property experience for the seekers allowing them to view/review/assess multiple properties from anywhere at any point of time.

Being a technology-driven company, we always have thrived to help property seekers reduce the time spent looking for properties that match their requirements and help them make effective decision with the best deals available.
As amazing as it sounds, today, property seekers can get a look and feel of a property even before it is constructed and that too from the comfort of their own home.

What kind of feedback did you get for CommonFloor.com so far?

The fact that we are backed by the best in the industry is a testimony of the fact that we must be doing something and is an assurance that we are moving in the right direction. Our technology-driven approach helps us to lead the online real-estate sector in its journey to further enhance user experience. We have increased our revenue by 100% in last six months and have 7 million visits every month. We, already, have mapped 10 million homes and certainly aspire to have every single available property listed on our portal. Our team strength has grown from 3, when we started in 2007 to 180 in 2012 to over 1000 this fiscal year so far. This team is constantly working to equip the users with the right knowledge and innovative tools that help them trust us and make us their preferred real estate portal.

Read the complete article here

Sumit Jain spoke to ET NOW Brand Equity team on the recent policy change by YouTube

Sumit Jain, CEO and Co-Founder spoke to ET NOW Brand Equity team on his point of view on the recent policy change by YouTube with regards to the ad revenue for digital content creators. YouTube is clamping down on video creators who work directly with brands, asking them instead to rely on Google’s sales team for deals. Google wants YouTube partners to only use Google ads in their video.

Alexa ranks CommonFloor as numero uno website in terms of traffic!

Recently, CommonFloor.com beat 99acres and magicbricks, the bigger players and the closest competitors in terms of traffic.

The other players are not even close. The numbers below speak for themselves.

Graph

From being only the second Indian company to receive funding from Google Capital to introducing CommonFloor Retina, world’s first virtual reality innovation in real estate for the consumers to bagging YouTube’s ‘Best Brand and Creator Collaboration 2014′ award, CommonFloor surely is on the right track and pace to the most preferred online real estate platform in India.

Google awards CommonFloor & TVF as ‘Best Brand and Creator Collaboration 2014’

IMG-20150320-WA0020

Bangalore/Mumbai, March 20, 2015: Permanent Roommates, an online fiction-series by The Viral Fever (TVF) Media Labs in association with CommonFloor.com, India’s leading online real estate platform has been conferred with the title ‘Best Brand and Creator Collaboration 2014’ by Google.

IMG-20150320-WA0026

Sumit Jain, Co-Founder & CEO, CommonFloor.com, received the award from Rajan Anandan, Managing Director, Google India and Southeast Asia & Ajay Vidyasagar, Director, YouTube Partnerships today at the YT Pulse and YT FanFest in Mumbai.

Every year, Google honours some of the best online video content and collaborations globally and this is the first Indian edition of these awards.

Sumit Jain, Co-Founder & CEO, CommonFloor.com said, “We feel humbled to have received this recognition for Permanent Roommates by Google India. The award is a great testimonial  of our constant quest for innovation and is a revolutionary step in marketing within the industry.”

vlcsnap-2014-10-29-13h38m39s158

Permanent Roommates was a unique initiative by CommonFloor and TVF to introduce a new genre of content that people would enjoy and hence drive engagement and conversations with their end consumers, reflecting the customer centric approach of CommonFloor.

To watch this series, please visit:  https://www.youtube.com/watch?v=6LedYr5tQUs

About CommonFloor.com

Launched in 2007 by Sumit Jain, Lalit Mangal and Vikas Malpani, CommonFloor.com, is India’s leading real estate platform that combines property search, apartment management and vendor management and caters to a person’s complete residential requirements.

From searching for an apartment to facilitating interactions within an apartment community on the ‘CommonFloor’ platform, to connecting one to relevant service providers, the platform is dedicated to meeting all aspects of consumers’ needs around their home. With over 5 lakh active property listings from over 200 cities, it has over 1 lakh residential projects listed with it. CommonFloor.com has been funded by Accel Partners, Tiger Global and Google Capital.

To know more about CommonFloor.com, please visit: http://www.commonfloor.com

For more information, please contact:

Perfect Relations

Sindhu Rajasekharan | +91 9916103530 | sindhur@perfectrelations.com

Akash Thakur | +91 7760118507 | athakur@perfectrelations.com

Sumit Jain, Co-Founder and CEO,Commonfloor.com featured in Fortune 40 under 40 list

sumitFortune India, the business magazine for the elite named Sumit Jain, Co Founder and CEO at CommonFloor.com in the list of 40 under 40 that captures leaders making waves in Indian business. This is a testimony to his leadership that has led CommonFloor.com to become “India’s third-largest property search portal.”

Read the complete article here

Looks Matter!

Images not only increase the visibility of your property during searches but also increases your chances to getting a genuine seeker for your property. We have added a new tool, Property Image Uploader, that you should use to easily upload images of your property.

To upload images of your property, just drag them from your desktop to the upload space on the Property Image Uploader. Alternatively, you can click the image icon to open the file explorer and select multiple images to upload them. You can track the upload status and if upload is taking a lot of time because you are on a slower connection, you can cancel the upload. After you have uploaded the images, you must tag them. The maximum size of an image that can be uploaded is 8Mb.

Tagging is a process by which you tell us what the image is all about. It lets us and the property seekers know if the image is of a bedroom, a bathroom, a hall or a kitchen. Tagging images is a crucial step for ensuring that seekers get the correct information regarding your property. The tagging process we have created is very interactive and intuitive.

Image 1 (1)

Once your images are uploaded, click any one of them. A list of tags appear. Click the tag that best describes your image. If you do not find a suitable tag, you can search for tags at the bottom of the list in the search bar. We have an exhaustive set of image tags to ensure that majority of the images are appropriately tagged.

Image 2

You can also tag bathrooms, balconies and dressing rooms and associate them to a particular bedroom. This way, you can associate an image to another and ensure that seekers can relate them together.

You can also select the main image for your property listing. This image appears whenever your listing appears on search results. To mark an image as main image, click the star that appears on top left of the image. The tag of the image changes and the image becomes the face of your listing!

Remember, the more images you upload the more the chances you have to appear above your competitor’s listings. Tagging the images increases your chances manyfolds.

Where Is Your Property Located?

On our redesigned listing page, you can use Google Maps to locate your property and then provide its address. Our integration with Google Maps is such that locating and identifying your property is now a child’s play. We ask you to provide either the name of the project your property is part of, the locality where your property is situated, or the address of your property. Once you have provided the details, the map automatically  zooms down to the closest point near your property.

This is how we do it.

1) If we already have the project details for your property, we pre populate the locality and address and take you to the exact location of your property on the map. In most cases, the location is precise enough for you to just mark it as correct and go ahead.

2) If we do not have the project details, you must select the locality and give the complete address of your property. The map zooms down to a point closest to the address or to the locality you have specified. You can fine tune the location, thereby ensuring that the seekers get to see the exact location of your property.

3) If we cannot locate either the locality or the address, then we try to locate the property based on other details provided. However, if we are unable to locate your property even then, you can zoom down on the map and show the correct location of the property.

You can interact with the map and ensure that the location pin is pointing exactly where your property is. Before changing the location of your property, we ask for your confirmation. This is to ensure that you have not changed the location by mistake.

Map - Property Location

As you move the pin on the map, we show the address the pin is pointing to at the bottom of the map. This helps you to navigate to the correct location easily. If you feel that the address shown on the map is more precise, you can copy it to your address field.

Author: Mohit Chitlangia, Product Manager, CommonFloor