A lot has changed in the housing market over the past twenty years. Beyond shifts in supply & demand, gentrification, and interest rate changes, there is one factor that altered the way real estate works forever: the internet. Instantly, buyers and sellers alike could look at houses for sale online, saving them time, money, and the agony of commuting from open house to open house.
There are a number of ways in which online listings changed the real estate game, but the most important facets are the ones that save you money. Here are five of the biggest benefits of listing your property online:
Save on marketing.
While you may need to spend money to advertise your listing on certain sites, in the long run, a running ad can actually generate far more income than the lost time putting up advertisements or spending more on a real estate agent. It’s good to ask for help when you need it, but there are so many apps and websites that you can turn to now, that setting up a few accounts shouldn’t take more than a couple hours, at best. Some sites even allow you to list for free, so as long as you can provide quality images, list off the best aspects of your home inside and out, and have an active email address, you can start listing your property online right now for free!
Attract more buyers.
Gone are the days of sitting and waiting at an open house for someone to show up. If done correctly, an online listing has the potential of having multiple pairs of eyes on it at every hour of the day. Online listings have the benefit of attracting buyers both near and far from their zip code, so not only is there the potential to sell faster, but there’s the potential to receive your asking price or above if a bidding war starts. When advertising for a property, you need to get in front of as many potential buyers as possible, and there’s no easier way to do that than sharing a link with a large mailing list, or even Facebook group.
Give more tours.
With the addition of live streams into our lives, you can now make a virtual tour experience easier, and cheaper. Facebook and Instagram Live give you the opportunity to schedule a time for an open house and have hundreds of people attend at once. You can show an in-depth first-look at your property, while saving money on pleasantries and snacks, getting you in front of more people at a lower cost.
Get a leg up on the competition.
Another huge way you can save money by listing online is by accurately pricing your property. By flipping the script and doing some research on other listings in your area while selling, you can compare and contrast your property and get a better understanding of what amenities, details, and asking prices are selling for in your neighborhood. By keeping your prices accurate and competitive, you’re more likely to make closer to your asking price rather than having to negotiate lower, and potentially make less, in the end.
Get your property off the market quicker.
Finally, the ultimate goal of selling a home is to sell it quickly. By doing so, you don’t have to worry about continual cleaning and upkeep, additional ad spend, or potential depreciation. This is why listing your property online is so important, especially as younger generations are starting to dip into the real estate market.
Regarding online listings, in 2017, the National Association of Realtors Research and Development team found that 44% of all homebuyers ended up buying a home they found online, 84% found online information to be a crucial part of their house search, and 93% of buyers who are 36 years old or younger frequently use the internet during a house search.
Even though the internet, now more than ever, keeps us in our homes, there’s no question that it helps when it comes time to sell your property.
The most critical aspects of selling a home still obviously reside in the physical location and experience, and listing a property online won’t get you through the entire process, but your property’s digital footprint will certainly help you save time and money during the initial phases of your sale.
Selling a home can also be a huge decision for most, and if you’re struggling to find the right real estate agent, or aren’t even sure where to start, the internet can be a great resource to turn to so you can learn how the process works.
Simply taking the time to gain a little bit of insight into the real estate world can wind up saving you thousands by keeping you informed of common mistakes, traps, and pitfalls. Hopefully, this has armed you with the right mindset to get your property on the digital frontier and sell quickly!