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Real Estate Sector going Digital - Property Search Trends Change

13/02/2020

Real Estate Sector going Digital - Property Search Trends Change

Buying or even selling a home is claimed to be one of the most stressful life events, usually because the process is hectic, time-taking, carry unexpected costs and is often termed as less efficient, effective or consumer friendly as it could be. Despite the high numbers of successful transactions, majority of people are considered to have less-than-satisfactory experience just because of time, the entire process takes. This is why, few of the transactions fall halfway before completion.

The transactions are also characterized by low level of trust between all parties including seller, buyer and real estate agent. This is why, majority of sellers and buyers turn to online portals to see properties before connecting to real estate agents - not just for price idea but to be as sure as possible about the deal price and property condition.

Online search has become crucial when it comes to end users searching properties in Pakistan. As Pakistan real estate market is re-gaining the momentum, the trend of searching properties online continues to grow. Now, more and more buyers are likely to search properties online before even meeting the real estate agent to close the deal.

Recently, Homespakistan.com held a survey enquiring from property buyers and rental house hunters that how do they start searching properties? Around 47 percent of the total survey respondents stated that they prefer going online and search different properties options that match their budget, much before meeting a real estate agent to close the deal.

The survey result clearly indicates a steep increase in the number of online surfers and the trend of going online before visiting market. I have talked to a number of real estate agents and they agree to this verdict, therefore, they prefer advertising their properties on leading online property portals. Most of the agents say that they get better and immediate response from online property portals as compared to other advertisement modes.

Pakistan has been experiencing a booming real estate sector from previous few years and proof is the growing number of residential societies springing up in all leading cities of the country and increasing number of investors intending to invest in real estate. Anticipating the growing internet surfing trend in Pakistan, leading property developers also prefer advertising their new projects online in order to get queries on immediate basis. Later they pick other marketing modes.

It shows that future of IT sector is bright in a developing country like Pakistan and people can seek their career in this field.

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