Real Estate Online: The Problem With Too Much Information

Real Estate on the InternetThe Internet has drastically changed the world of real estate. Buyers can access listing information with the click of a button. They can take virtual tours through homes and study every detail of photos without having to step foot out of their own door. There is no longer a need to wait until the morning to inquire about a home, or play phone tag with a listing agent for days just to get more information. The Internet enables sellers to spark a greater amount of interest in their homes at a much faster rate. Their listing is accessible to anyone, from anywhere, at any time. Furthermore, real estate agents can stay better connected with their customers and potential clients, and utilize many tools that lead to better and faster transactions. The power and convenience the Internet has brought to the real estate industry seems like a dream come true. But don’t be fooled, there is no such thing as a perfect world. Just like anything else, when it comes to real estate, the Internet has its ups and downs. Having too much information, for example, can prove to be a great disadvantage.

Everyone has heard the saying, “You can’t believe everything you read of the Internet”. This is exceptionally true for real estate. The amount of information that is accessible online is endless, and consumers enjoy how easy it is to find it. However, posting content of the Web is just as easy as finding information on the Web. Consumers do not know exactly where information is coming from or how credible or relative it is to what they are looking for. For example, a popular real estate question consumers want answered is, “How is the market doing?” or “Is it a good time to buy or sell?” The Internet has encouraged people to find this answer out on their own, and no longer turn to the trusted professionals who can give them a quality answer. Countless amounts of online articles can be found surrounding this sort of topic, but could easily be written by someone who knows nothing about it. Good writers can fool many people into believing they are the expert on any given subject. Furthermore, most online articles relate to the big picture and not necessarily pertain to a specific market. For example, a person in Louisville may read an article about how the market is looking grim, when in actuality the Louisville real estate market may actually be picking up quite a bit. This could discourage that person to sell, when it is an excellent time to do so! Real estate agents that work in a certain market are the best resource for getting expert advice and insight regarding a specific real estate environment.

Consumers are also all too quick to believe any information they find online about a home for sale. The problem with the various websites dedicated to home searching is how up-to-date and accurate listing information actually is. Automated data feeds that pull from a number of different sources are used to populate many sites. In the process, certain details can be lost, incorrect, or not reflect changes in the listing, such as price.

The Internet is an exceptional tool to use during the home buying or home selling process that provides many benefits to buyers, sellers, and professionals. However, it is important to remember to be cautious and be sure the information you are getting is the right information.

 

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Posted on June 2, 2014, in Buying, Real Estate 101. Bookmark the permalink. Leave a comment.

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