What value have online property marketplaces added to the real estate sector in Pakistan?

The real estate market is one of the most complex markets in the entire world due to the fact that it is constantly changing, hence making it an extremely dynamic market. Investing in real estate requires a good amount of cash amongst other factors. Therefore, it is best to do your homework to ensure you make a wise yet profitable investment, as well as minimize your losses as much as you possibly can.

Now, more than ever, there’s a need for fast, reliable, and credible online real-estate portals. A vast majority of Pakistani people, and most certainly buyers and realtors, are always ready to embrace digital and smart solutions to ease their lives and businesses. To innovate and help property markets grow, it is the need of the hour to have multiple accessible solutions that are also time-efficient.

At present, online property portals are rising in popularity, and many have benefitted from the ease in search of desired rental/purchase property options with a click of a button, from within the comfort of their homes. More than easing the traditional process of buying and selling, these online marketplaces have brought to light real estate leads which are often overlooked, or which remain unrepresented by agencies and individual realtors, and which, as a result, do not sell.  Here, having accessibility to online platforms comes in handy, as the latter ensures that listings that hardly get public attention are given as much leeway as others.   Additionally, this also prevents inefficiencies from sweeping in and hindering the progress of the real estate industry. Best of all, it enables mutually beneficial transactions by utilizing the best practices and ensuring better transparency of the market by establishing a documented and rationalized economic prospect for the country.

While traditional means of property hunting are still in use, the only difference with online marketplaces is that it saves time, travel expense, and effort. Instead of physically commuting from one house, apartment, or commercial unit to another, one can check online, and survey different property listings from a large pool to make an informed decision. If your desired property is not available, the online marketplace can alert you with other similar properties according to your search result preferences. Although there is no control after a transaction has been processed, consumers can still benefit from concierge-like services such as customer support and customer feedback system to ensure that the home buyer gets continued support moving forward.  When there is another person manning the call center he/she can then direct the call to the right party and users can get any additional information they require, without having their queries or concerns unanswered or possibly ignored.

In comparison to traditional methods, online marketplaces prove to be more productive, wherein when putting up a listing, sellers can include up to 5 high-definition pictures and videos and can also highlight, with potential buyers, the specific features regarding the said property.  This can be very helpful if you are looking to interest buyers from outside your local geographic area, and who may probably need more explanation of certain features or amenities.  Since the buyer and seller have direct access to information about the property in question, this makes other forms of communication between the buyer and seller, obsolete. This would also help prevent any additional fees or charges that may be required for further advertisements in the newspaper.  Moreover, it would also help avoid follow up meetings that are imperative to the traditional method.

Besides being easier and convenient to use, online real-estate marketplaces have a huge advantage, as they allow real estate listing services to make your ad visible nation-wide.  Searching for the right house is very easy as these websites have filters that allow you to only see the houses that meet your specific requirements. This saves the users’ time as they won’t be looking at listings that do not suit their needs. Furthermore, the listings mostly include photographs, a location map, a description, and at times, a floor plan. With the easy use of Google Maps, people can benefit from checking the street view and deciding if facilities nearby suit their preference or not. Since we all have different tastes and preferences, we can check for available information and at the same time look for similar properties nearby to gauge the neighborhood.

Most real-estate online marketplaces have blogs that are routinely updated with helpful information for anyone who visits their website. This is probably best for people who even after having an interest in some property are still not a hundred percent sure whether to go for it or not. These blogs contain a lot of valuable information and comments and reviews for feedback which users can gain confirmation and reassurance from.

All in all, there is no improved, easier, and enhanced way to search for a home, or to sell one, than online, as the internet has a lot to offer in the real estate market.  It is developing rapidly, gaining more traffic and more consumers every day, and thus improving your chances of a profitable buy or sell.

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