Realty brokers attack website offering broker-free homes

Our Bureau Updated - January 22, 2018 at 08:23 PM.

Real estate portal The NoBroker, which allows users to find properties without involving brokers, came under attack from local brokers in Bengaluru on Tuesday, the company said.

Around 40-50 brokers gathered and tried to take forced entry in the office premises with the intent of damaging property, battering employees and disrupting work, the company said in a statement. NoBroker claims their employees were even verbally and physically assaulted by these brokers. 

"When some of our employees got assaulted, despite attempts of peaceful discussion, NoBroker informed the police who came in and prevented the situation from getting worse," the company said.

NoBroker said this is an indication of the disruption that NoBroker is causing in the real estate market which is leading to huge savings for the customer and the pinch is felt by the brokers.

The website claims to have a user base of over 3 lakh, having helped home seekers save more than Rs 15 crore brokerage every month across Mumbai, Bengaluru, Pune and Chennai. 

NoBroker.com was angel funded by Saurabh Garg (co-founder of Four Fountains De-stress Spa) who also acts as a mentor. Early this year it had raised Series-A funding of $ 3 million from SAIF Partners and Fulcrum Ventures. 

Published on September 15, 2015 14:00