What is an Online Real Estate Agent & How Will They Impact the Industry?

Posted by Premier Commission on September 30, 2016 in Real Estate Agent, Residential Real Estate, Selling Real Estate

In the country club model of pre-internet real estate, it wasn’t what buyers knew, but whom, that mattered. E-commerce has obliterated the low-competition environment realtors used to enjoy, but there have been more positive than negative spin offs for those who know how to leverage the virtual marketplace. All real estate can now be marketed out in public, and clients have turned due diligence into their own personal hobby. Buyers are using online tools to manage the search process and assess their financing options. This gives e-commerce realtors plenty of free hours to spend on tasks they enjoy most: finding and selling property. 

43% of buyers choose their property online, so participating in the digital revolution is no longer optional. There are a number of ways to participate in the e-commerce realty boom. By:

• Collecting and managing clients and properties online as a sole proprietorship.
• Crowdfunding property development.
• Hosting your real estate business online while your realtors work remotely.
• Flipping properties using online resources.
• Hosting auctions online.

The Information Age

Today property records are accessible by buyers and sellers alike in a matter of seconds, and an online real estate agent isn’t a necessary part of acquiring that information anymore. Since data is freely available, realtors can now work harder at translating that information in meaningful ways.

Technological breakthroughs have created a fully integrated selling experience. Every part of the process fits into the next like a puzzle piece, from outbound marketing to administration. Data analytics put incredible power into your hands, letting you see, at a glance, which areas are offering you the best returns, which you’re investing the most time in, and which property types are delivering peak success.

Web Platforms

Managing a business using online portals and the cloud is not only simpler, but more economical as well. No online real estate agent needs to limit themselves to a single geographic area. Virtual tours and online communication make it possible to snag clients shopping outside your zone. This has caused an acceleration in the industry in several ways.

• Teamwork is easy to control when office administrators can feed all assignments into a shared platform.
• Most tasks can be carried out remotely, limiting travel costs.
• All information and clientele are at your fingertips as long as you have a smartphone in reach.
• Comparisons between properties are easily achieved.

Development

If you’re an online real estate agent who previously lacked the funds to develop your own property, the internet has levelled the playing field. Pioneers in the industry are using crowdfunding to make their wildest development dreams a reality. Any realtor willing to put time into their campaigns can participate in commercial real estate markets that were once only accessible by large institutions.

Tools

Mobile applications give you a comprehensive list of properties in any area you enter. The cloud puts your files in reach from your phone. Your new contacts can be fed into an integrated client list the moment you connect with them. If there’s a task for which there is no application, you can develop or commission it yourself. Business management has never been more streamlined.

The Client-Led Realtor

Before clients could educate themselves about everything from financing to available properties from their own living rooms, it was the realtor who was in charge. The internet has changed that power balance. 99% of property buyers begin their search online, and they’re educated enough to play a proactive role in their house hunting. For those who are passionate about real estate, the internet has shifted focus to where it’s most interesting: on the property itself.

Looking for more information about online real estate agents? Contact us today at Premier Commission!

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