How Technology Has Changed The Way People Sell Houses

by Jennifer Lewis

At last, technology has infiltrated the real estate industry and begun to disrupt how things work. For years, the real estate world was bogged down by piles of paperwork, slow email chains, and other inefficiencies. Fortunately, advancements in technology have enabled homeowners to sell their houses faster than ever before. Gone are the days when it takes months to sell a property (unless it’s overpriced). If your home is in good shape and priced accordingly, it’s easier than ever to spread the word and attract potential buyers. For more information on how to sell your house fast, check out this guide used by other homeowners that were in your shoes.

Now, we will discuss how technology has completely changed the way that people sell houses today.

On-demand Online Offers

Similar to how Amazon implemented the “buy now” button, homeowners now have enticing offers at their fingers. When selling a house, you can go online and get offers instantly from companies that buy houses for cash. Typically, these home buying companies claim to respond within a few minutes of receiving a request. If you’re trying to sell your house fast, receiving an offer within minutes of beginning your search is a walk in the park. The easy accessibility to offers enables homeowners to sell their properties much faster than in previous decades.

Google and Yelp are both commonly used search engines (Yelp isn’t technically one, but is used as such) for homeowners when selling a property. They can reach out directly to real estate companies and request an offer for their home. These companies that buy houses normally close within a few weeks, which varies from the way real estate used to be sold. These on-demand online offers catapult sellers to the closing table and make selling a house extremely quick.

Leverage Digital Platforms

With technology by their side, homeowners are taking matters into their own hands when trying to sell their properties. For example, homeowners can now use online platforms such as eXp for property search, Zillow, Craigslist, and Facebook to sell their houses by themselves. This is also known as FSBO, or for sale by owner. In expensive markets, like California, you can now independently sell your house without a realtor online and save money. Privately selling your property online by yourself enables homeowners to avoid paying realtor commissions, which can range from 5-6% of the total sale price.

According to the closing cost comparison data, when selling a house in the state of California, the total estimated closing costs will roughly account to $2,594 when selling to an investor compared to $12,640 when selling by owner and $20,140 when selling with an agent. As you can see there is a significant difference in saving when selling your property to companies that buy houses for cash.

Although this sounds great, selling your house without a realtor on these digital platforms comes with responsibilities. The entire process falls on your lap, which means you must get everything done yourself without help. There is no one by your side to review your digital contracts or double-check your online listing details. Thankfully, these online platforms are becoming easier to use. Large technology companies, like Zillow, continue to reinvest in their software to provide simple platforms that any homeowner can use to sell a house.

3-D Virtual Tours

Real estate marketing is completely different than previous decades thanks to technology. When trying to sell a house, you can now record a 3-D virtual tour of the interior (and exterior) of your property for buyers to view online. This creates an entirely new digital experience for home buyers. They’re now able to browse and shop for properties online instead of driving to open houses that are’t always worth it. The convenience of shopping for houses online through virtual tours inspires more buyers to browse online for real estate. It’s easy, fun, and quick to whip out your phone and look.

Savvy sellers are leveraging technology, such as 3-D virtual tours, to showcase unique highlights within their properties that pictures can’t quite do justice. Immersing yourself in a virtual tour of a brand-new home is a memorable experience. It can entice more buyers to physically come to the open houses to view the property. Ideally, with enough creative digital marketing like this, you can encourage more buyers to make offers when trying to sell your house using technology.

Click here to view more IT Briefcase content!