Investing in the real estate sector can be a profitable business for those willing to face the challenges of the market. The reactivation of the real estate sector has coincided practically with the arrival of a new player to the housing market that surely has much to say during the next few years. Fear and mistrust have taken over a large number of workers who are engaged in the sector in a traditional way, but the truth is that there is nothing to fear. Real estate online and real estate traditional share similarities as differences, equal and at the same time different, it is two business models focused on practically opposite public. To reflect this idea, we will list and explain the differences that separate each of these companies.
An online real estate business can be created as a professional service and developed from your own home. What you need is to have a good internet connection, a good computer, a telephone, and a well-furnished head.
What Is A Real Estate Website?
When we talk about real estate web we refer to the online real estate websites. A corporate website that is focused on showing potential clients the services the agency provides, who we are, where we are … So how is it different from a normal website in any sector? The differentiating key is in the housing search engine. A real estate website must include the functionality of being able to visualize the portfolio of available properties and of course, that they request information about them.
Specialised Real Estate Websites
Some real estate websites are very specialised and only work within a specific area. For example, there are luxury real estate websites, global property experts, real estate websites focused on affordable housing, and more.
There are also real estate websites that focus on specific locations, which can be a goldmine if you’re looking to move country. For example, Bayut is a real estate website that focuses only on Dubai and the UAE.
This allows them to focus entirely on the laws, politics, and housing market in the UAE, and as a result they are much more knowledgeable and experienced for people moving to the UAE, than a general real estate site could be.
How Online Real Estate Different From Traditional?
Price: The price and the method of payment is one of the issues that most separates the different companies. The traditional real estate agencies charge once the sale is made, and you can take both a percentage of the total and commission as a fixed rate regardless of the cost of the home. On the other hand, online real estate companies have a totally opposite business model, since the payment for their service is made prior to the sale. The owners pay a fixed price and from there, the company does its job to sell the house.
The other big difference in this aspect is the difference in price, since while the commission of the traditional real estate lawyer Toronto is between four and five figures; the sale service of a digital real estate rarely reaches the four figures, at least, in most cases, so it is a lower cost service.
Some Internet estate agents don’t work on commission basis. You need to pay them a one time fee and they will promote your property in big online platforms and even in social platforms for selling or renting. Thus you can save the huge amount of commission fees. Not only that, You will get maximum visibility and regular stats and reports about your property.
One of the great reasons why real estate agencies should never feel threatened by online companies is one of their great strengths: professional and personalized advice. The intermediation of an expert in the housing market makes a difference in numerous sales and purchases of real estate, a service that due to its lower cost, the vast majority of online real estate cannot offer, also, because the customer niche towards which they are directed does not have.
The difference in price and services rendered leads us to the last difference between the two companies: the potential audience they are targeting, that is, their customers. While traditional agencies are looking for their lifelong audience, which for many years to come, will always exist in the market, real estate online focus on serving a new niche that is suspicious of the non-digital. This younger audience, totally transformed to the online world and probably with less purchasing power, would surely never pay for the services of a life-long agency, so this new type of company is tailored to this profile of people. The reason that demonstrates that more than rival, they are two almost opposite models in the same marketable to shelter both.