Don’t replace your agent with the internet as if real estate can fit a specific mold. With the influx of new technology and web based solutions, it isn’t surprising that everything is quickly moving towards the era of the internet. From sites such as Uber and Grubhub, we generally can pull up our phones or laptops to order what we want with ease. With every industry being revolutionized by technology, the same methods are “attempting” to be applied to the real estate industry.
DON’T REPLACE YOUR AGENT WITH THE INTERNET BECAUSE REAL ESTATE IS NEVER “SIMPLE”.
While agents, buyers, and sellers would certainly agree that they would like to simplify contract paperwork, the attempt to replace the agent by sites like Zillow and other third party resources, could lead to a snowball effect of disaster.
Think of real estate as being somewhere between ordering fast food and needing a doctor. You can use your mobile device to quickly place your order for a $20 meal, but when it comes to getting surgery, you would want to put that phone down and visit a professional.
Now think of your real estate agent. You could use your devices to look for a home and look at market data the way you look at WebMD, but you should not try to diagnose a serious illness from a website. It oversimplifies medical diseases and surgeries, so you would still expect to get a professional diagnosis. By the same token, shopping for homes via the internet is fun, and gives you a general idea of what to expect, but the data online is an oversimplified version of what goes into the process of buying and selling.
DON’T REPLACE YOUR AGENT WITH THE INTERNET BECAUSE REAL ESTATE IS A MINEFIELD OF CONTRACT LEGALITIES.
Although a real estate agent isn’t quite like a doctor, the industry legalities, contracts, and processes are similar, in the sense that these issues need to be taken seriously.
Buyers looking for a house online, and wanting to put an immediate offer on one, should be aware that issues requiring professional guidance often can arise after the initial contract is written. That is when the hard work comes into play to actually make the home your own.
If sellers decide to put their home on the market and use a website that gives an automatic offer, how are they going to know they are not being cheated on price? How would they know advantage was not being taken in other aspects of the contract? There is a lot more to the sale of a home then just agreeing on a number.
BOTTOM LINE:
The next time you are looking through public sites for homes for sale, or getting instant home valuation estimates, keep in mind that this process is only meant to give a general idea of a specific market. If you think you have found the perfect house, or that the numbers make sense for you to sell, call your favorite real estate agent and make sure they give you a more detailed look into the market. Let them assist you through the full process, not just the exciting first part. When the lending is falling apart, or negotiations cannot be made on repairs, the expertise of an agent will be needed. When emotions are at an all time high, you are going to wish you had put down your laptop and had an agent fighting on your side. Have fun with the amazing online resources, but don’t replace your agent with the internet.
Related material:
How to correctly negotiate repairs between Home Buyers and Sellers by Bill Gassett
What is involved with a real estate deed? by Paul Sian
