Everything changed when the Internet was invented. This includes the complete real estate transaction process for both buyers and sellers. While the entire Mid-Century vogue has us starry-eyed with a fondness for Floyd-Wright-inspired construction and Eames chairs, no one fondly remembers the approach of purchasing and selling properties. Today’s buyers have exposure to thousands of properties with the click of a phone’s screen, whereas previous generations depended on local papers and “For Sale” signs. Surveys have shown that more than 90% of buyers are using the Internet in their property hunt! But how are we better off than our grandparents? Here are a few examples of how the Internet has irrevocably altered the real estate sector. Get the idea from capital smart city Islamabad online marketing strategies.
- Real-Time Updates
While we can only maintain listings on a temporary scale in the era of traditional media (once per day, or perhaps once a week for some publications), today’s web database provides near-instantaneous changes, ensuring that agents and buyers don’t lose resources chasing down unavailable homes! Sites run by third parties. For quite some time, listings could only be viewed by licensed agents! Buyers now have quick access to a national inventory of properties thanks to the development of third-party property portals like Zameen.com and Lamudi.
- Marketing on Social Media
Don’t bother with “For Sale” flyers! With the press of a button, buyers, sellers, and brokers can now share ads, open house info, and more. Social media has altered how we share information about new houses for sale, from Twitter to Instagram to Facebook. For consumers buying a home, social media is a fantastic resource, and it has a significant impact on every stage of the decision-making process. There was a time when we needed lawn signs and print advertising to sell a house. However, today’s purchasers are considerably more informed and actively searching for properties online because of rapid technological advancements. Buyers are unlikely to pay a deposit after reading a few Postings or tweets. However, having a great social media plan might help you achieve incredible outcomes.
The value of visual photographs cannot be overstated. These images of your property for sale, which are essentially the online equivalent of curb appeal, can make or break the sale potential. Even if your home is wonderfully groomed, immaculately refurbished, and priced to sell, an imperfect online aesthetic will push it to the end of the list. Excellent photography has become an essential element of the purchase process, with some agencies even offering aerial footage and VR – based tours!
- Cellular Devices
The ability to purchase and sell is practically at your fingertips at all times, thanks to the convenience of mobile devices! According to the National Association of Realtors, 58 percent of Millennials and 46% of Generation X found their house using a mobile device. Because the real estate market is so competitive, it’s critical to stay on top of things. Real estate businesses can use mobile technologies to sell their assets and solutions to a global audience via internet advertising and email marketing, increasing brand awareness. Agents can also create databases that enable them to tailor unique properties to specific client groupings. These agents spent a lot of time on the road, viewing or selling properties, and mobile phones help them stay connected.
- The Purchasing Procedure
The entire process is usually more accessible than ever because the Internet has revolutionized the banking & data sectors. What used to take weeks or months, from resolving financial problems to finding the perfect mortgage to digital signature via “The Cloud,” now takes just days. Right now, the new coronavirus is disrupting the way homes are sold, with open houses being postponed and video tours replacing in-person home showings. Because people are trying to avoid personal contact to prevent transmitting the virus, buying online makes it more logical.
Real estate investors might also acquire houses from afar. Most real estate investors adhere to the 1% rule, which dictates that a property’s monthly rent should surpass its monthly mortgage payment, allowing the investor to break even on the property. Several markets that may be situated a reasonable distance from the investor’s current location make it simpler to find assets that follow the 1% rule. As a result, purchasing a home from afar can be an appealing and time-saving choice.
Even though the Internet has significantly improved the purchasing and selling process, and most purchasers begin their searches online, recent research found that buyers still deal with an agent 88 percent of the time. According to the same report, the most challenging phase in the process for most purchasers is “finding the appropriate property,” implying that, while the Internet is awash with possibilities, filtering them down is still usually accomplished by a professional. Even though the property market is continuously changing, the end purpose remains the same: to assist customers in finding the ideal property.
Muhammad Junaid is a senior Analyst and Search Engine Expert. Extensive experience being a lead writer in Sigma Properties |Rudn Enclave. Work for years with local and international enterprises. Also, represent well-known brands in the UAE.