Today’s Market Place-Has Technology become a Deterrent?
Throughout the few last decades our Market Place has definitely seen many changes. From new technologies, décor ideas and innovations, new homes, new home structures and layouts.
The Real Estate Market has become more and more interesting as we see areas around us that at one point in time were farmers fields and today are monopolized by road ways and new home developments.
Not only has the home count continued to be on the rise with Condo developments downtown but also once suburban areas turning into larger heavily populated cities.
Back in the 80’s with information about homes not available on the internet Realtors were forced to work in an “old school” manner with more hands on correspondence with Buyers and Sellers and that face to face time seeing different homes distinguishing their wants and needs. In the 90’s with a new wave of internet information became more accessible with guidelines to available homes. Early 2000’s more information was available on the internet about homes and Buyers and Sellers had more information available at their access to compare homes.
In today’s day and age a Buyer or Seller can simply type in an address into their Google search engine and instantly multiple links will come up with photos, virtual tours, blogs, and information at their finger tips in regards to their prospective home.
As with anything the internet has become a major source in information in our market place today. However then the question begins “Is there to MUCH information available?”
The immediate gratification of being able to see pictures and information available is definitely satisfying but is it deterring buyers from their possible perfect home? Although pictures as pretty as they can be they can also be very deceiving. Working with both buyers and sellers we always tell our clients it is best to physically go into the property to see what it has to offer. Many homes have fantastic layouts which offer the space and functionality a buyer is looking for, however they have not been showcased to the best of their ability through poor photography or on the flip side they may have shown beautifully in the pictures- but not so pretty in person.
With increasing competition through realtors and For Sale By Owner Homes it is also important to take a deeper look at the information being provided. Time and Time again we have seen situations where information has been incorrect on a listing- it is very important to use a Realtor and one that you trust to best represent your home. Working with buyers I have seen situations where a home has not been what they wanted however we’ve said “Well let’s just check it out anyway just to be sure!” And low and behold the home was absolutely everything they wanted and was gorgeous in person. However due to incorrect information and poor showcasing that home was more than likely not getting as many people through the door as it could have been!
One important thing to note is that as Realtors we have access to more than what the public can see, and quicker. When a listing is loaded to the public MLS systems it is first loaded to a Realtor board generally 48 hours prior to hitting the public sites- this is one of the reasons why it is very important to use a Realtor as they have quick access to homes that the public does not.
From a statistical standpoint don’t believe everything that you read. Often we will see stats “SOLD 99% of List”- the consumer reading that may think oh “WOW that home was listed for $550,000.00 – WOW they got $545,000.00 for their home!” However what the consumer may not know is if that home had a significant price drop not seen on MLS and may have actually sold for $490,000.00
Although numbers are numbers and the end result is factual information it may not necessarily reflect what your home is worth, or the home you are looking at is worth. A comparable home down the street may have sold for $50,000.00 less than list price on the home you are looking at or listing however depending on the upgrade, more favourable location on the street, and inner workings of the home- that does not necessarily reflect the price. It is important to listen to your Real Estate Professional in regards to these matters as they can delve deeper into the situation to tell you where the "best bang for your buck" lies and their professional recommendation of a homes value, and what best fits your needs.
It is crucial and important to work with a Realtor who can outline all of this information for you in black and white. Although the internet is a very powerful and helpful tool it can also be misleading and misguide people throughout their home search. As a Seller these statistics can be intimidating if you have taken pride of ownership in your home and made extensive upgrades and changes when these statistics are stated! No need to get discouraged- the proper evaluation and information is at hand when using a knowledgeable Real Estate Professional.
Remember don’t believe everything you read! If you have any questions about your homes value, or values within a neighbourhood you are looking to buy in contact our team today! We can send you up to date information about home sales and perform a comparative analysis on a home by home basis. Our team proudly serves many different areas and neighbourhoods including; Burlington, Hamilton, Mississauga, Oakville, Toronto, Waterdown, Dundas and Flamborough!
Have a great weekend!
The Fresh Approach Team,
Allana Thompson, Christy D’Oliveira, Kyrsten Feere
Allana- firstname.lastname@example.org 416-567-2018
Christy- email@example.com 647-261-8910
Kyrsten- firstname.lastname@example.org 905-577-2608