Seeing more real estate-related content in your feeds? How the internet is impacting the industry, courtesy of this RI-based realtor.
Wanna Buy A House...On The Internet?
Today, we rely heavily on our technology to help us get from point A to B. Our phones are calculators, maps, video games, fitness trackers, and hand held shopping assistants. We can buy anything we want on the internet - including dream homes? While we not might be there quiiite yet (unless you're a real Amazon junkie), we have started to see a significant shift in how buyers and sellers use the internet to their advantage.
According to NAR (National Association of REALTORS®) 2017 Profile of Home Buyers and Sellers Generational Trends, ninety-nine percent of buyers 36 years and younger used online websites for searches and information, and forty percent looked online for properties for sale prior to contacting an agent. Also, younger generations typically found the home they purchased through the internet. Websites such as realtor.com are useful for starting searches based on neighborhoods, budgets, and current market trends.
Real estate professionals are also impacting this trend, with sixteen percent of agents listing homes on social media, up 12 percent from last year. When it comes to sellers, twenty-three percent of those 36 years and younger are much more likely to work with agents who market on social media. (Follow me on Facebook and Instagram @MadalynTundisRIRealtor!)
While the internet is an undisputed tool in the home buying arsenal, NAR recognizes all generations of buyers continue to consult a real estate agent or broker to help them buy or sell their home. Buyers need a real estate professional to assist them with finding the right home and with negotiating things like terms of sale and price. Sellers, in turn, need professionals to help market their home to potential buyers, sell within a specific timeframe, and price their home competitively.
Ultimately, whether you're buying or selling a home, build yourself a team you trust. The internet may help you weed through the available inventory, but it is the experts who are working in your best interest. (So) Align yourself with a REALTOR you feel comfortable with from contact to closing.
Until next time,
Happy House Hunting!
Madalyn Tundis is a fully licensed Rhode Island REALTOR based in Cranston.