Buying Miami Properties Over The Internet

Purchasing a home in the Miami metro area for the first time could be a truly emotional, and mind-boggling episode.

Getting the right house, which is one that fits the preferences, needs and tastes of an individual or family, is everyone’s priority, as well locating the best areas or districts to stay, are major concerns. The investment aspect of real estate in this city has made home ownership very attractive to people, and their home's equity has most often become their greatest asset.

The Internet is fast transforming the relationship between consumers and property agents, and now includes the process of selecting an agent. Out-of-town home buyers have more access to a wider information base about new homes in Miami and local real estate agents than ever before, and they are more likely to consider the quality and attractiveness of the information provided on a online realtor’s Web site, in their home purchase decisions.

The Widening Scope Of The Internet Has Revolutionized The Real Estate Market

Those who are entering the real estate profession now and in years to come, will surely see the Internet as an obviously effective marketing medium. They'll use the online tools to their best advantage, and hopefully, will have already mastered the art of online marketing, and establish themselves as the top online real estate professional in your area.

Could the rising wave growth of the Internet as a marketing tool actually threaten the continued sales results of successful property brokers? Most certainly it does—not just for top producers and not just from new and computer-savvy brokers.

Unless agents act quickly to ensure being the primary contacts on the Internet for property buyers and sellers, loan, escrow and other firms will be happy to fill the gaps. With their attractive Web sites and millions to spend on promotion, they will eagerly become a consumer’s first contact in a realty transaction, and may perhaps even charge agents a fee to gain customers or hire property brokers as employees or subcontractors to handle the more sensitive direct aspects of closing home sales.

How Home Buyers Are Approaching Online Property Brokers

That homebuyers and sellers are using Internet resources to aid them in their transactions has become abundantly clear.

The Economic Research Council of the National Association of Realtors® (NAR), in its June 1999 report entitled "Realtors and the Internet: The Impact of Online Technologies on the Real Estate Industry", has indicated that an estimated 23 percent of all potential homebuyers used the Internet to search for a home. Furthermore, the study found that even potential homebuyers who do not currently use online services expect their Realtor® to be Internet-savvy and have clear opinions on what they expect from online real estate services.

In a study conducted in 1999 by Weston Edwards & Associates of Laguna Beach, CA, they noted, among other things, that "In 2000, half of all homebuyers will use the Internet to help them find a home and the money to finance it, compared to 40 percent last year. Property brokers, lenders, and title insurance companies are struggling to catch up with the demand for Internet services."

What To Do Before Signing Up With An Online Broker

Housing industry experts suggest that new home buyers in the Miami metropolitan area first check out the Web site of the National Association Of Realtors (NAR), or go the its Miami office for advice on appropriate housing options, as well as in getting adequate info on local market trends and conditions.

Home buyers may also consult with the Miami-Dade Chamber of Commerce, in looking for a house. In addition to contacting a local realtor of choice and getting referrals from co-workers, peers and relatives, observers also suggests getting a good map to learn more about the area would help buyers in familiarizing themselves with the Miami-Dade housing market.

Vanessa Arellano Doctor