Categorized | Residential, Resources

Taking the real estate market online

Taking the real estate market online
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Trading has taken a different turn in the 21st century with almost all goods and services being sold online. One question people seem to be asking is if real estate will begin trading online anytime soon. Whiles some people believe it will be soon, others still think it is not possible as unlike shoes or clothes, the real estate industry is based on trust.

An online real estate services provider, copious was recently launched to help sort out trading of real estate. Instead of selling homes, they rather encourage people to buy real estate and sell to people they know. To implement this, they let their users’ logon to their system via their facebook accounts. The connection here is based on the friends of the buyer who ever bought from the seller or the friends both the buyer and seller have in common.

This online real estate selling system is soon to be connected to the popular online market places like eBay and Twitter. Discounts are to be designed for people who recommended sellers or buyers to others.

The problem this system faces is that, if care is not taken, it could easily be abused by fraudsters to defraud many people. This is because of the fact that, though there exists some connection, animosity is not completely eliminated. Some people are connected to other people they do not know physically.

If however this system becomes successful, the real estate industry could take a new turn. Houses will now be bought and sold online with payments, previews and bidding all done on the internet. It will save home buyers a lot of time having to go round looking for a home or paying huge sums of money to estate agents.

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About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

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