Old ways vs. New ways of doing business in Real Estate

 

Change is vital for development. Real estate industry has grown so far generating billions of dollars in revenue as of this era. Selling or listing your home in the United States has gone far from the Jurassic of paper works to cyber paper less documents.

Before, you have to drive around to visit open houses or call real estate broker to check for a house without being pre-approved or having a proof of funds. Traditional open houses is no longer effective nowadays, having several cons like security issues, risk of theft and having unqualified prospects and this is quite scary.

Today for you to successfully sell your property, you need to know if the buyer is financially qualified and you need a good Real estate agent’s advice on this. A pre-approval letter or a proof of funds is the thing to consider before contacting a real estate agent. For some security reasons agents will know the identity or maybe a bored person pretending to buy a house. It’s very important to have a proof of funds or to be pre-approved as a first step in buying a house. To avoid wasting time and effort it is very important to confirm the purchasing ability of the buyer.

Newspapers are a popular advertising medium for most local businesses in the United States -the oldest forms of mass media.Before, home sellers are using newspaper ads to advertise their houses, same thing with the home buyers they have to check daily and weekly newspaper to find their dream houses and I think those days are gone now. All we have to do now is open our PC or laptop, type the location where you want to buy a house in Google and voila!

Today almost all of the buyers and sellers use online to see and put all the details about the property. No need to abbreviate too many words to save money for display ads in a newspaper. The extent of popularity of the internet now is so huge, that even national print players are now promoting paid online news subscriptions to their sites. Technology has introduced major changes in the way we live.

Transactions before were all tedious having the seller and the buyer sign contracts, while millennial era introduces several platforms helpful in running real estate businesses across the world. These are effective tools available online that helps in managing online transaction and productivity optimization.

We now have dotloop which we use for online transactions; it’s beginning to be paper less in the United States alone. Shall I mention the other helpful sites like MLS, online databases which Real estate agents can access through their mobile phones? It’s totally nerve racking to compare the past to what we have now.  There are also marketing and selling platform designed to leverage your contacts into relationships, and your relationships into sales which are very beneficial in real estate. The brighter side of new ways in real estate is the results of the great ideas from the past.

 

 

 

 

 

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