Internet’s Impact on Real Estate

Paul Wrigley from Ray White Toronto understands the impact of the internet on Real Estate.

Unfortunately for most sellers, typical Real Estate agents just put an ad on the internet and “hope” that a buyer comes along. They don’t take into account the digital footprint that is now created for their property.

Internet’s Impact On Real Estate
BY Paul Kounnas

While the internet has brought many positives, particularly the way marketing costs have been driven down thanks to web sites lowering the need to rely on print media and the ease of e-mail communication with buyers en masse, there is a down side.

Sellers need to be aware that the extensive use of the Internet means that every property has a digital footprint, a traceable history of prices, sales, etc.

The history of virtually any property that has been bought, sold or withdrawn from the market in the past can be found on the net. This information can impact both positively and negatively on buyers and sellers when negotiating the purchase or sale of a home.

Every property listed in Australia is promoted on at least one of the two major real estate web sites – and

These sites are either owned or controlled by large media companies that either own or are affiliated with Australia’s main real estate data companies – RP Data and Australian Property Monitors.

Whenever your property is put up for sale, auction or rent, both price and the agent you are using, along with the date the online advertisement was uploaded, is automatically recorded in that property’s history. Whether the property sells or not, whether it Is passed in at auction or withdrawn from the market is also recorded. This is what creates that property’s digital footprint.

It is fast becoming a ‘pseudo credit rating’ for any property.

If there is a lot of activity (buying and selling or attempting to buy and sell) that is recorded against your property, the more likely people will assume that something may be wrong with your home.

The availability and abundance of information these days can either greatly assist in the buying and selling process, or be detrimental to it.

As a seller you should avoid having your price and advertising history used against you.

Never include the address of your property when marketing it other than on your agent’s own website.
As the article states the internet, if used properly by Real Estate agents, will greatly assist with the sale of your property.

Paul Wrigley warns sellers against choosing a Real Estate agent that’s main strategy is HOPE! Hope is not a strategy. These typical agents will use the digital gootprint against sellers in order to push the price down.

To learn how to get the highest price for your property feel free to call Paul Wrigley of Ray White Toronto.

Ray White Toronto specialise in all sales and rental of Real Estate in Lake Macquarie

Phone 4959 6577 or email to speak to an agent today.

Posted by Reception Toronto