How the Emergence of Online Estate Agents and Service Providers has Impacted on Home Owners
Posted: 14th October 2014 09:16
Even now that the global economy is in a state of continuing recovery, it is fair to say that nothing has quite been the same since the Great Recession. This stands to reason, as the single greatest financial crisis in living memory is bound to have left its legacy and changed the economic landscape forever. Nowhere is its impact more noticeable than the real estate market, as this is where the original crisis originated from after the subprime lending collapse of 2008.
Growth in the Non-traditional Real Estate Market: How these changes have impacted on Howe owners
In terms of the global market, the single most significant change has been the emergence of online real estate agents and niche service providers. In terms of the former, it is fair to say that online agencies have flourished since the Great Recession and changed the way in which homes are marketed and sold. This emerging market is among the fastest growing in developed economies such as the UK, and the companies that operate within the space offer multiple advantages to home owners.
More specifically, online agencies help customers to reduce the often incremental costs of listing and selling a house. By offering a more rigid and transparent pricing structure, it is far easier for vendors to manage their finances and sell their property without spending the earth. In addition to this, online agencies in the UK have also helped vendors to connect to a wider and more geographically diverse audience, which in turn can capture individuals who are relocating from alternative areas and subsequently sell their home quicker.
In terms of specialist real estate agents and service providers, the online revolution has afforded these entities a unique opportunity to grow and evolve. Take the emergence of prominent UK outlets such as DSS Move, for example, which cater to the needs of benefits claimants and connect them with willing landlords and low cost real estate. Given that it was historically difficult for those in receipt of welfare or jobseekers allowance to source viable real estate, this service experienced a huge demand and fulfilled a genuine need in the wake of the recession.
With experts forecasting that the British real estate market may be set for a further period of decline, it is important that home owners heed the lesson of previous recessions. Thankfully, today’s property owners can also rely on a proactive and purposeful network of online service providers, who will enable vendors to maximise the value in their home and allow buyers to find a low cost and suitable abode.