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Online resources and home buying

Online resources and home buying

 
October 21, 2011


Home buyers typically do a great deal of their searching online now, and while technology has a number of benefits it also comes with some potential pitfalls. Like any other tool, the Internet must be used properly for the best performance.

For example, the sheer number of homes that can be found in online listings can be difficult for buyers to process. Homes of varying size, price, location and other characteristics present a variety of options, but the amount of information available can be difficult to organize effectively.

While a real estate agent can help home buyers find what they're looking for, it is nonetheless appropriate for them to prepare for this in advance. Setting limits in advance, whether the criteria relate to location, size, price, availability of public transportation or other matters, is a good step.
 
Problems and pitfalls

One problem people have, according to U.S. News and World Report, is thinking the degree of access they have to information means they do not need help. As a result, some try to proceed without the services of a professional real estate agent. While they may succeed in finding a home, they may be unable to successfully negotiate to buy that home. Even if the seller is willing to make a deal, it is much more likely that home buyers on their own will miss relevant legal documentation or paperwork, causing trouble later.

Echoing the aforementioned problem of information overload, some home buyers overcompensate and narrow their search too much. Using too few of the available resources can mean home buyers never become aware of suitable properties, and prevent them from developing a sufficient understanding of the housing market.These problems are exacerbated for those who do not take sufficient advantage of a professional, who can advise them on both counts.

Taking Action

According to MSN Real Estate, one major benefit of technology is the ability to set up RSS feeds or other quick notification for new offers. This can shorten the amount of time spent retreading old ground during a home search, and may present the opportunity to get to a good property first. Home sellers in a hurry might be inclined to make a good deal for the sake of promptness, so speed can be a significant advantage in negotiations.
 

About Coldwell Banker®

Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of approximately 83,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
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