How the Internet Changed the Way we searched for Property?
There have been many factors that have made major impacts on the real estate industry over the past three decades. Internet is, without doubt, one of them and it continues to define and change this large sector in many ways.
New Generation of Home Buyers
The new generation of home buyers is already buying and selling products online. There are already online services that allow everyone to buy/sell properties over the web.
We have already reached a phase in the real estate world where a transition is taking place from information sites to transaction based sites. There are already websites like auction.com, which can be seen as part of this transition.
I think that within this decade we will be able to see that a significant percentage of real estate transactions will be taking place online. And the story will change dramatically in the next decade. The government has already initiated efforts to streamline the land records and registration processes.
Paradigm Shift in Home Search
There has already been a paradigm shift in the way people used to search for homes. It is entirely different from how it used to be, all because of the internet. There are who have been in the business for decades and now acknowledge that people don’t even have to go out of their home to find a property nowadays.
In fact, it is also possible to view properties using and similar satellite view technologies. Besides, it is also no longer difficult for sellers to reach the market with their new properties on sale. It takes just a few minutes and some clicks to put your real estate on the market. A few years ago it would have taken at least a few weeks to be able to do so.
Will the Internet Take Over the Real Estate Market?
It will be wrong to say so. The internet is making the task easier for buyers and sellers. In fact, the overall industry is moving towards an approach where it combines the power of the web and the people skills and market knowledge of the real estate professionals. In other words, the web is currently working almost as a medium. The human touch is still essential in making the deals get through. And I think it will continue to be so. You cannot take out the human factor out of the picture.
For the realty professional, the challenge is going to be how to deliver value to their customers
in an increasingly tech-based market. They should not see the Internet as a challenge in itself. It is a facilitator in fact!
In the old days, print advertisements and TV commercials were the main sources for finding properties. People used to call up the real estate agent and drive to the location. The amount of time and energy invested in just looking at one property was overwhelming.
The scenario is entirely different today. You can view the property online as most of the time sellers will post pictures. If you don’t like it, you could move on and check another one. Thus, buyers are able to explore dozens and dozens of properties sitting in their home or office, and sellers are also able to save their time and energy (and fuel).
The evolution of the web has only made positive impact on the real estate industry. It has made things simpler in this sector and enabled faster and easier communication and delivery of information. If things continue to evolve this way, it will not be long that people will be buying and selling properties online without any hassles.
Nisha Pandey is the founder of SeoTechyWorld.com and . Dynamic and outgoing, she has been sharing her vast knowledge through tech and through her regular posts. She has evolved over the years to become a well known name in the tech blogging environment. Follow her on and .
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