New Delhi: Makaan.com, a real estate portal, Wednesday launched its ‘makaan rating’ system. The rating system, a new initiative in the industry, will allow property seekers to rate the properties on the basis of usefulness of the listings.

This system, apart from helping users in selecting better property listings in lesser time, will also discourage advertisers to display incorrect information.

With nearly 40 thousand property classifieds in newspapers and about 7.5 lakh property listings appearing on online real estate portals every week, there lacked an appropriate evaluation process to assess these properties. This initiative by makaan.com aims at setting a benchmark for the validation process of property listings.

The ratings are user-generated; hence this system is based on personal experiences of users while they interact with the sellers. The ratings will further strengthen the accuracy of each property listing on the website, thus providing a better property search experience for the users.

Aditya Verma, business head makaan.com, said, “We have always believed in innovations and practical products that benefit its users. The new rating system is a powerful tool that will allow users to assess property listings themselves, and hence rate their experience of interacting with the seller. Till now there was no product which offered users to check the authenticity of the property and this initiative will help us in getting measurability in the system.”

The six months old portal pioneered the smart broker banner, which allows a property agent to create his own advertisement online, and specify the location of the ad to be run.