In the 2019 statistics of the National Association of Realtors, 52% of buyers were able to find their purchased homes online; the other 29% bought their homes through a realtor; and the remaining 6% came from a yard sign. On the other hand, global statistics coordinator Statista reveals that real estate websites have more than 120 million website visits each month.
This data shows just how online real estate services give value for both buyers and sellers. The former can easily access real estate websites and take a look at a lot of different houses wherever they may be, while sellers have greater chances to get their listings sold as hundreds of potential home buyers are viewing their home’s features.
If you are a first-time homebuyer or seller, we’ve listed 8 things you should know about online real estate services:
An MLS or Multiple Listing Services is a database formed by cooperating real estate brokers to provide data about the properties on sale. It can be new or resale homes, lots, land, new construction, or commercial and investment properties. Top real estate websites like Zillow source their postings from both MLS and non-MLS sources.
Since all of us are searching for every single thing we could think of online, posting your listings on real estate platforms is not enough. If you really want to generate more sales, it’s time to step up and think of more creative ways to market your property.
Uploading 3D photos and offering virtual home tours is ideal these days due to the pandemic. You can also pay for advertisement slots on top real estate apps and websites to get more potential buyers to see your listings.
Calculating taxes can be stressful at times, so it’s best to seek help from professionals for you to get the maximum tax returns. A lot of firms are now offering their services online, and some also have free online tools if you want to save your money.
Whether you’re a buyer or a seller, utilize your phone by downloading real estate apps. Aside from reading handy information and seeing the actual listings in photos, you can also receive real-time notifications and updates about your listing or the ideal property you’ve been looking for.
If your budget is not enough to purchase a property (or you can’t totally let go of that house, apartment, condominium unit, or town house you own), don’t worry because property rental sites can help you. Top sites like apartments.com and rent.com can help you find your next home in any style you prefer and connect you with millions of renters once you listed your property on their site.
If you need to have your listing sold in a shorter period of time, auctioning your property is the way to go. Real estate auctions offer a guaranteed sale and closing date, creates a sense of urgency and enthusiasm to potential buyers, and offer non-refundable deposits and contingency-free contracts that give you extra assurance and security.
An appraisal is the professional determination of the value of a listing. Mortgage companies usually require an appraisal of the property by a licensed professional before agreeing to loan money on the property. Property buyers are the ones who commonly pay for an appraiser but some sellers hire them too in order to get the ideal value of their listing.
The methods for determining value may be based on many factors such as comparable sales in the area, the cost approach, the income approach, or the highest and best use of the property.
Aside from the fact that there’s still a pandemic going on, it can be hard to schedule a day where you can go to a firm and have your property notarized, especially if you have a lot on your plate. But thanks to online notary services, you can now finalize your documents at the comfort of your home. Top sites for real estate transactions include Nexsys Technologies, Notarize, and NotaryCam.
Now that you have an idea on how Online Real Estate Services work, find out how the new normal has shaped Real Estate Trends this 2021.
Do you have a property you need to list or a specific area you want to explore for your real estate business? BizScale can help you make this happen. Talk to us by completing this form, emailing sales@bizscale.com, calling 833-722-5310, or booking time on Calendly. Here's to starting a new path to success!
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