A recent USA Today article “Home shoppers do their hunting online” details the journey one couple had purchasing their home online. It is an interesting article on many levels.
One of the first observations made in the article:
Technology is shifting knowledge and power to buyers and sellers.
This is a sentiment that has been gaining steam over the past couple of years. We are just now seeing what is truly possible online and the real estate markets are taking notice. As more shoppers have easier access to the Internet, it is transforming the way they shop for their home. Besides the adoption of technology by the baby-boomers, the younger generation rely primarily on the Internet to find information.
Another point the article made is:
The Internet is a significant threat to Realtors, who in previous decades have had iron-grip control over all necessary information for those seeking to buy or sell a home.
While it is true that information is now easily accessible, I would not consider it a “threat”. I guess the only Realtors it would threaten are those who don’t adapt to the changes being made. In every industry, technology will bring about great change. You either have to evolve and use the tools to your advantage or you will be left behind. I don’t believe the advances of the Internet will render their services useless, but it will change what services they provide.
The good news for builders…advances in technology and the prevalent use of the Internet to search for homes provides the opportunity to showcase your homes to the masses at a low cost. In addition, when you manage your Internet leads properly, you will see a noticeable increase in sales. No longer do you have to wait for the walk-in traffic. You are actually able to generate interest and tap into buyers across the US.
Just as the couple in the article, there are many buyers out there who need a home and will make informed decisions quickly when they have the right information at their fingertips.