With the growth of online tools, companies quickly are building products to serve the real estate community. After all, it’s a lucrative industry: Home buying and selling always will be a thing. Even if the industry slows, companies around the word are diving in to make as much money off consumers as possible. What are they selling? The ease of buying and selling a home online. The catch? You actually don’t benefit from these online quick-sale services. In fact, you could find yourself out thousands in cost difference. If you’re in the market to buy or sell and are considering foregoing a real estate agent for an online service, be sure you read the fine print. You’ll often find you aren’t benefiting at all. Will you buy your home upfront for resale, so you don’t have to worry about the headache? Sure, but you may have been able to get $50,000 more for your house using a realtor. Can you see and purchase your dream home through said services and “save” on agent commissions? Sure, but you’ll probably be overpaying for your home. The real estate industry is heavily regulated for licensed professionals to ensure the consumer is getting the best representation for the best savings. These online services don’t require regulation and licensing, therefore, they can get away with fine print “scams.” Be sure you do your research. A Realtor is there to make YOU the most money. Quick online services are focused on making their business the most money – not on how much you can sell your home for or how much you can save when you buy. Licensed professionals exist for a reason, be sure you don’t lose more than you can afford by using a gimmicky online service that dubs buying and selling an “easy” process. Any good agent will make the process easy, minus general lending issues that may arise.
Karen W. Hall