Home owners and property buyers now have access to an abundance of information when it comes to property, like a new RP Data property valuation tool via Facebook. The app will allow Facebook users who visit the site to check the value of their asset from their home.
With the introduction of tools like this and as technology continues to boom, it seems buyers are more well informed than ever, especially when it comes to the property market – sometimes knowing more about what sold for what than the real estate agent.
Not long ago real estate agents could be said to be the ‘gatekeepers’ of information when it came to anything property, especially pricing. Chatting to estate agents who have been in the business a long time, they have noticed a huge change in this over the last decade, thanks to the flood of information and new technology now available to real estate buyers.
This is not to say there is no use for the real estate agent – there certainly is and probably always will be, their role in the property transaction though, has very much changed. No longer do real estate agents hold all the information (and the buyers), their role is much more focussed on the the negotiation side.
The real estate industry is ever changing and very dynamic, it’s important that buyers embrace the new technologies available and use them to their advantage to make informed decisions when it comes to property buying.