MagicBricks
{{Short description|Indian property buying and selling platform}}
{{Use dmy dates|date=October 2018}}
{{Use Indian English|date=October 2018}}
{{promotional|date=October 2014}}
{{Infobox company
| name = MagicBricks
| logo = MagicBricks.svg
| type = Real Estate
| key_people = Mr. Sudhir Pai
| owner = Times Internet
| parent = The Times Group
| industry = Real Estate
| founded = {{start date and age |2006}}
| location = Noida, India
| homepage = {{URL|http://www.magicbricks.com}}
}}
Magicbricks is a website that provides a common platform for property buyers & sellers to locate properties of interest in India, and source information about all property related issues. In 2022, Magicbricks launched its full stack services by providing a bouquet of 15+ services like expert advice, home loans, legal assistance to decor consultation amongst others.{{Cite news |date=February 18, 2022 |title=Ayushmann Khurrana presents Magicbricks as the one stop destination for properties in new campaign |url=https://brandequity.economictimes.indiatimes.com/news/advertising/ayushmann-khurrana-presents-magicbricks-as-the-one-stop-destination-for-properties-in-new-campaign/89664569 |work=ET Brand Equity}}
Company initiatives
Magicbricks employs Natural Language Processors (NLPs) to improve conversations by analyzing key metrics such as speech rate, call sentiment, and conversation balance.{{Cite news |last=Kumar |first=Aishwaraya |date=September 2, 2024 |title=AI-Saas play in real estate: How Magicbricks integrates technology to enhance real-estate solutions |url=https://www.thehindubusinessline.com/news/real-estate/ai-saas-play-in-real-estate-how-magicbricks-integrates-technology-to-enhance-real-estate-solutions/article68533469.ece |work=Hindu Business Line}}
Magicbricks with IIM Bangalore launched the Housing Sentiment Index.{{cite web|url=http://www.iimb.ernet.in/node/4046|title=IIMB- MagicBricks Partner Launch Housing Sentiment Index – Indian Institute of Management Bangalore|publisher=Iimb.ernet.in|accessdate=17 October 2014}} It was launched in 2013 and the last report generated was in 2014.{{Cite web |title=Housing Sentiment Index - Property Survey By MagicBricks and IIM Bangalore |url=https://www.magicbricks.com/iimb-hsi/view-previous-report.html |access-date=2023-11-08 |website=www.magicbricks.com}}{{cite web|url=http://www.moneycontrol.com/news/business/home-buyers-expect-prices-to-fall6-months-survey_997405.html|title=Home buyers expect prices to fall in 6 months: Survey|publisher=Moneycontrol.com|accessdate=17 October 2014}}
In 2023, Magicbricks launched the Bank Recommendation Engine which recommends the ideal home loan partner for home-buyers.{{Cite news |title=Magicbricks expands AI powered bank Recommendation Engine for Home Loans |url=https://realtynxt.com/news/2023-06-13/magicbricks-expands-ai-powered-bank-recommendation-engine-for-home-loans |work=RealtyNxt}}{{Cite news|date=June 14, 2023 |title=Magicbricks scales up its AI-Powered ‘Bank Recommendation Engine’ to identify best Home Loan partners |url=https://www.expresscomputer.in/news/magicbricks-scales-up-its-ai-powered-bank-recommendation-engine-to-identify-best-home-loan-partners/99505/ |work=Express Computer}}
In 2024, Magicbricks launched PropWorth, a tool which provides instant property valuations for 50,000 projects. Site Visits was also launched, under which Magicbricks handpicks properties and handles logistics such as cabs to assist buyers.{{Cite news |last=Bureau |first=ET |date=November 12, 2024 |title=Magicbricks launches site visit product |url=https://urldefense.com/v3/__https://economictimes.indiatimes.com/industry/services/property-/-cstruction/magicbricks-launches-site-visit-product/articleshow/115227087.cms?from=mdr__;!!IHJ3XrWN4X8!ORti9qpEN0qPbBYJfs_39G_m6vjDMHNGtD4E5iC47R2mvgtBeC3GyRGSL2BbOkW5KWJf1hvsSqDw2Mvoonzo5lTC1dlLlLg7aw$ |url-status=live |work=Economic Times}}{{Cite news |last=Kumar |first=Aishwarya |date=September 2, 2024 |title=AI-Saas play in real estate: How Magicbricks integrates technology to enhance real-estate solutions |url=https://www.thehindubusinessline.com/news/real-estate/ai-saas-play-in-real-estate-how-magicbricks-integrates-technology-to-enhance-real-estate-solutions/article68533469.ece}}
At the same time Magicbricks launched MagicHomes, a centralized platform which brings information on authenticity and compliance of new projects sourced from verified authorities like RERA and a curated selection of nearly editorial reviews.{{Cite news |last=ANI |date=4 March 2024 |title=Magicbricks Launches MagicHomes: A Comprehensive Guide to all New Projects Amidst Surging Residential Demand |url=https://theprint.in/ani-press-releases/magicbricks-launches-magichomes-a-comprehensive-guide-to-all-new-projects-amidst-surging-residential-demand/1987482/}}{{Cite news |date=5 March 2024 |title=MagicHomes will inform you about the new projects |url=https://timesofindia.indiatimes.com/business/india-business/magichomes-will-inform-you-about-new-projects/articleshow/108215437.cms |work=The Times of India}}
Magicbricks bought a majority stake in PropViz, a company that made property viewing technology.{{Cite web |title=Magicbricks acquires majority stake in PropViz - ET RealEstate |url=https://realty.economictimes.indiatimes.com/news/industry/magicbricks-acquires-majority-stake-in-propviz/116272284 |access-date=2024-12-13 |website=ETRealty.com |language=en}} In 2025, Magicbricks also announced acquisition of ReadPro, an AI-powered CRM platform{{Cite news |last=Edit Desk |first=SME Street |date=January 25, 2025 |title=Magicbricks Enhances READPRO CRM for 85,000 Active Brokers |url=https://smestreet.in/technology/magicbricks-enhances-readpro-crm-for-85000-active-brokers-8653277 |url-status=live |work=SME Street}}
Services
Apart from buying, selling & renting properties in India, users have access to the following services as well:
- PropIndex is a tool by Magicbricks which provides information on the movement of residential apartment prices and supply of properties in India for some major cities & adds more cities on a regular basis as well.{{cite web |url=http://www.propertyportalwatch.com/2013/11/magicbricks-adds-baroda-to-the-propindex-now-covers-12-cities-pan-india/ |title=Magicbricks Adds Baroda to the PropIndex – Now Covers 12 Cities Pan-India |publisher=Propertyportalwatch.com |accessdate=17 October 2014 |archive-url=https://web.archive.org/web/20141021155022/http://www.propertyportalwatch.com/2013/11/magicbricks-adds-baroda-to-the-propindex-now-covers-12-cities-pan-india/ |archive-date=21 October 2014 |url-status=dead}}
- News section of Magicbricks "Property Pulse"{{cite web|url=http://www.istockanalyst.com/business/news/5940605/magicbricks-com-launches-property-pulse-india-s-biggest-real-estate-content-section|title=MagicBricks.com Launches Property Pulse – India's Biggest Real Estate Content Section|publisher=Istockanalyst.com|accessdate=17 October 2014}} includes property news, home loans concerns, legal & taxation issues, expert opinion and analysis of property trends.
Magicbricks campaign
In March 2014, Magicbricks went live with an integrated campaign across all media (TV, Digital, Radio and several others mediums) to position itself as a property portal that helps users decide on the right kind of property. The current campaign carries a tagline "Property Sahi Milegi Yahin".{{cite web|title=MagicBricks.com rolls out a phased multi-city OOH campaign to promote its positioning.|url=https://www.allaboutoutdoor.com/news-detail.php?mid=4202&keyword=Vizag|last=|first=|date=|website=|publisher=Propertyportalwatch.com|archive-url=|archive-date=|accessdate=17 October 2014}}
In 2022, Magicbricks unveiled itself as the one stop destination for properties, in a new campaign with brand ambassador Ayushmann Khurana.{{Cite news |date=February 18, 2022 |title=Ayushmann Khurrana presents Magicbricks as the one stop destination for properties in new campaign |url=https://brandequity.economictimes.indiatimes.com/news/advertising/ayushmann-khurrana-presents-magicbricks-as-the-one-stop-destination-for-properties-in-new-campaign/89664569 |work=ET Brand Equity}}
In 2023, Magicbricks launched #StoryHarGharKi, to demonstrate category leadership in seamlessly connecting homebuyers and sellers, assisting them with advisories and relevant services.{{Cite news |date=5 October 2023 |title=Magicbricks’ #storyhargharki campaign presents real estate solutions in a quirky family narrative |url=https://www.afaqs.com/news/advertising/magicbricks-storyhargharki-campaign-presents-real-estate-solutions-in-a-quirky-family-narrative |work=Afaqs}}