How the Internet has changed the Real Estate Industry



A few decades ago, people never heard of what online marketing is. No one can really explain the possibility that most business transactions can happen without doing them face to face. Fast forward to today, the internet has become the most influential technology that changes the way people think, behave, and see the world. The internet changed everything.

A few years back when the internet service is sluggish and unreliable, people mostly used their phones and letters to exchange ideas and information. Especially the San Francisco Real Estate industry in particular. The dissemination of information is so slow and the realtor needs to exert a lot of effort to make his listings known to a larger market.

Because the transfer of information is slow back then, the customers only rely on the little information they receive from the sellers. The Bay Area Luxury Homes real estate agents have more control of the sale during that time. They can create ways to make their clients believe what they say because their clients have no way to find out the veracity of the information.

These are few examples of how the internet has changed the real estate:

•    The Board of Realtors automated their regional multiple listing services in the 1980s. Members of the organization can access essential information about the property including recent sales, tax information, and other property details in their computers.

•    Even when the World Wide Web became accessible to the public in 1991, the Classified ads section in the newspapers and magazines is still the best place to market a property. However, many publishing companies took advantage of this opportunity and started asking for bigger rates. Because of this, most realtors started to look for other alternatives where they can advertise their listing effectively for a lower cost. This is when online advertising in real estates started to flourish.

•    Mobile phones started to adopt the internet service in their latest models. This even makes online advertising faster and always on-the-go. Today, finding the best property is at the tip of the fingertips. The parties involved in real estate can get the information they need whenever and wherever they are as long as they have an internet savvy phone with mobile data capacity.

•    Online marketing for real estate business has become very popular. Because of this, many search engines incorporated online listings in their portals such as AOL Real Estate, Yahoo! Real Estate and MSN House & Home. The inclusion of real estate in their websites has increased the amount of traffic significantly.