The National Association of Realtors – India (NAR-India), representing a network of RERA-registered brokers, has taken a bold stance regarding recent marketing practices by MagicBricks Realty Services. On Wednesday, they issued a directive urging their members to halt any collaboration with the platform due to its promotional content, which they claim disrespects and marginalizes real estate professionals.
NAR-India’s Directive to Members
In a clear message, NAR-India instructed its members to cease all listings, advertisements, and business transactions with MagicBricks. The association emphasized that until the platform issues a formal public apology and commits to rectifying the situation in writing, members should refrain from engaging with them.
- Key points of the directive:
- Stop all business interactions with MagicBricks.
- Demand a public apology and written commitment from MagicBricks.
- Highlight the importance of respecting real estate brokers.
Concerns Over Misrepresentation
NAR-India expressed disappointment over what it describes as a betrayal of trust from one of the leading real estate platforms in the country. Chairman Sumanth Reddy stated, “MagicBricks has built its success on the hard work of brokers, agents, and real estate professionals. However, their recent marketing strategies have crossed an ethical line, undermining the very profession that supports their business.” He further emphasized that this is not merely about a single campaign, but a culmination of years of disregard for the brokerage community.
MagicBricks Responds
In response to NAR-India’s claims, a spokesperson from MagicBricks stated, “We produce extensive content across India, adhering to specific guidelines. Recently, a few videos created by young interns did not meet these standards and were promptly removed upon our awareness.”
MagicBricks remains focused on cultivating a positive relationship with the broker community, asserting their commitment to collaborative growth despite the controversy surrounding these isolated incidents.
- MagicBricks’ commitment includes:
- Developing innovative classified solutions and SaaS tools.
- Supporting more than 25,000 brokers annually as trusted partners.
- Enhancing broker efficiency and business growth.
Conclusion
The ongoing dispute between NAR-India and MagicBricks highlights the vital role that brokers play in the Indian real estate market. As the situation unfolds, both sides must navigate this critical juncture to ensure the integrity and collaboration necessary for a thriving real estate ecosystem. The conversation surrounding the respect and recognition of the brokerage profession is more important than ever, setting the stage for future interactions in the industry.
