With the growth of online tools, companies are quickly building products to serve the real estate community. After all, it’s a lucrative industry, home buying and selling will always be a thing - even if it did slow down, companies around the world are diving in to make as much money off consumers as possible.
What are they selling? The ease. The ease of buying or selling a home online. The catch? You actually don’t benefit from these online quick-sale services. In fact, you could find yourself out of tens-of-thousands in cost difference. If you’re in the market to buy or sell, and are considering foregoing a real estate agent for an online service, be sure you read the fine print. You’ll often times find that you aren’t benefiting at all. Will they buy your home upfront to resale, so you don’t have to worry about the headache? Sure, but you may have been able to get $50,000 more for your house using a Realtor. Can you see and purchase your dream home through said services and “save” on agent commissions? Sure, but you’ll probably be overpaying for the home anyway.
The real estate industry is heavily regulated for licensed professionals to ensure the consumer is always getting the best representation for the best savings. These online services don’t require regulation and licensing, therefore, they can get away with fine print “scams.”
Be sure you do your research. A Realtor is there to make YOU the most money. Quick online services are focused on making their business the most money - not focused on how much you can sell your home for or how much you can save when you buy. Licensed professionals exist for a reason, be sure you don’t lose more than you can afford to by using a gimmicky online service that dubs buying and selling an “easy” process. Any good agent will make the process very easy for you to nagivate and come out as a winner!
About the Author: Kim Soper is a lifelong Lexington KY resident and Co-Founder of Better Homes and Gardens Real Estate Cypress. She has over 18 years experience selling real estate all over Lexington KY and the Central KY areas. Kim is the manager/Realtor of ExploreLexingtonKY.com - Home to Your Best Source for Lexington KY Real Estate!