In the past three decades, technological growth has been in leaps and bounds. The entry of World Wide Web, has changed the way various industries carry out their business operations.
The impact has been on all sectors of growth including businesses, communication, education, and politics among others. It is the e-commerce platform on which the biggest impact was felt; players in the industry now have the capacity to transact from whatever corner of the globe. The real estate sector like any other form of business could not escape this development which now brings forth a new and wider reach for buyers and sellers as well as new entrants in the field, thus bringing about growth as well as ease in making transactions.
It is for this reason that if you are a player in the industry or aspiring to be one, embracing the Information Technology is imperative. It offers you a great opportunity to reach out to the global community; thereby bringing in more potential into the business that would otherwise would have gone unnoticed. This ideally means the e-commerce is the way to go.
The growth of e-commerce:
Commerce is as old as human kind. Various technological advancements have seen the sector grow in accordance to the prevailing technologies. E-commerce maybe considered to be one of the fastest growing technologies that have influenced heavily on the way business activities are conducted. With its history dating back to the early 1970s, the internet was then a project of the American defense forces as an intelligence and communication protocol.
This was followed by the HTML coding of the World Wide Web that occurred in the late 1980s and early 1990s. It was at this juncture that entrepreneurs realized the potential of the internet and began to embrace it for the growth of their businesses. Subsequently technological advancements have seen the introduction and wide distribution of the services through computers and internet enabled hand-held devices that today stand with over 2.1 billion users. This has further been enhanced by incorporation of online banking models that makes the transactions much easier to carry out.
The effect of e-commerce on business:
Traditionally, the real estate sector entailed lots of many complicated processes before any transaction could be carried out. This included among others the long search in authenticating property, advertising, and negotiations with prospective customers as well as following the set legislative guidelines required in every region. With the introduction of the e-commerce where the use of internet is the key factor, all these processes can be performed with ease and at a click of a button. The e-commerce platform makes it possible for the sellers, real estate agents, and brokers to place irrespective of the property they have on sale on a simple advertising platform that is accessible globally. Potential buyers also get access to these advertisements irrespective of their geographical locations. They are also in a position to make further inquiries which will give more satisfaction and ideal for making the correct choice without making any travel arrangements.
How e-commerce benefits real estate developers:
Players in the real estate business have a lot to gain from embracing e-commerce. This is more so for their counterparts in any other sector. With easy and cost effective advertising platforms, they are able to reach out at a much lower cost hence reducing the costs of running the business. Over and above this, on the internet platform, they are able to reach out to a wide audience. This means a bigger customer base and a chance that gives rise to the sales revenues marking growth in business. On finding the appropriate clients, the seller is able to transact the sale through online platform where they provide all the adequate information to the client, carry out the required legislative procedures, and also receive payment through the existing online platforms. This makes e-commerce ideal for any business with a vision to grow beyond boundaries.
E-commerce tools available for real estate sellers and brokers:
If you are a player in the industry or aspiring to join, there is a wide variety of tools available designed to make your experience much easier. There are various advertising platforms and websites through which sellers and brokers can advertise for the property that is up for sale. This has the ability to reach out to a wider audience when compared to traditional advertising models meaning a bigger potential client base. The players also have access to various government institutions that deal with property transactions. This makes it easy for them to carry out the required searches quickly and effectively. With communication over the internet being much easier, updating the prospective customer on the developments in the transaction is also made much easier.
The tools enjoyed by the clients:
With the internet accessibility, reaching out to more, prospective clients in need of property can easily search and make appropriate choice on what they need. This is through the internet search engines that give them the list of available property as well as the sellers in varying locations. In this regard, they are able to make comparisons in value and cost and choose the one that befits their pocket and taste. Availability of information regarding carrying out safe transaction also provides the clients on useful information on the necessary steps and precautions to undertake. Online payment models that include the use of master and debit cards also enhance payment of property and services offered from the ease of their homes and offices. This in essence makes the whole e-commerce transaction a simple one for the buyer and also encourages more of them to use the process.
E-commerce has become an imperative aspect of today’s life. The revolution it has occasioned on the real estate business has seen more and more people gain access to property beyond the borders of their motherland and as well encouraging inter-border investments. With the world today boasting of over 2.1 billion internet users, sellers and buyers from across the globe can interact and make transactions much easier a factor that goes beyond geographical boundaries. This opens avenues for investments into other aspects of business and hence giving a platform for improved business growth.
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