Reinventing Real Estate, Part 2: On the web and Empowered Customers are Taking Charge and Paying Less
Asking for consumers
“Internet purchasers tend to be better informed on market conditions and also better prepared to act on the house they want whenever they begin working with a realtor. Luckily for realtors, these changes don’t always harm, provided that they’re capable to adjust to the new connection and realize the new-style buyers value speed and efficiency over direction when finding a home.”
– E marketer, Internet Home Buyers Changing the home Rules
Thanks to the Internet as well as other technical innovations, more real estate information is freely offered than ever. As a result, individuals are demanding brand new options, improved services, faster transactions as well as lower prices. According to a recently available NAR survey, the amount of sellers stating they did not want to pay a sales commission payment rose from forty six % in 2003 to sixty one percent in 2004. In 2004, Tanah Merah Kechil condo 23 % of Florida home sellers opted to promote independently without an agent, up from fourteen percent in 2003 and nearly double the fourteen % national average, based on Planet Realtor.
And Web enabled consumers are demanding a high digital IQ when working with real estate professionals. Along with being well versed on the own industry-specific know-how of theirs, real estate professionals nowadays are likely to use notebooks, mobile phones, digital cameras, personal digital assistants and global positioning systems to maintain pace with Internet buyers & sellers.
Downward pressure
“If customers are going to do their own home-shopping online, they look to save some money, just as they would for using the self-service lane. That is precisely why they’re susceptible to web based discount brokers and the new affinity companies that are advertising lower commissions if just the consumers make use of the agents of theirs. These business models promote the thought to customers that they ought to be having to pay less money in commissions.”
Realty Times Columnist Blanche Evans