Fast Pace Technology Changes the Real Estate Industry

Technology and information as we know it is changing the very nature of the real estate industry as well as the consumer culture in the very near future. It’s difficult to keep up with the tools millions are using today to lift their voices in electronic communities and create their own media. Social networks like Facebook and MySpace, video sites like YouTube, mini blog engines like Twitter—have all emerged in the last five years and all are nourished by users.

According to Sean Callahan with Rismedia, “There is a Google pot of gold that no one is claiming. When it comes to finding a niche to get in front of real estate buyers and sellers, there are very few to choose from. As we know, most real estate agents currently run print ads in local publications, input listings in their local MLS and try to pay for marketing to get their websites ranked in the search engines and set up accounts with Twitter, Facebook, MySpace, LinkedIn and others.”

Since over 80% of homes sales now began with a search on the Internet, it has never been more important to try to get exposure online in search engines. Read more.

Consumers decide whether to Rent or Buy by City

How does this affect relocating employees?

We’ve all noticed a change in market values which has affected a transferee’s ability to sell and buy a home in cities across the county. Due to decreased home values, many homeowners are forced to rent their home in the origination location and rent a home in the destination location as well.

A new index compiled by shows that it’s becoming much easier to tell whether the time is right for an owner to rent or buy a home in locations across the county.

With approximately 30% of its site visitors debating the rent or buy question, the company created an index of 50 major cities that weighs the financial merits. Although, not the typical transferee’s property, using a typical two-bedroom condo or townhome listed for sale on, economists calculated criteria for renting, including rent and renter’s insurance. Read More…

Relocating employees may have additional benefits from their company to sell their home in the origin location, but the benefit may not be enough to release them from their obligation. In this instance, a broker may encourage a homeowner to seek the advice of their lender to determine if they are eligible for a short sale.

If a homeowner is successful relocating to a new destination they may choose to rent for a year or more before considering a purchase. With federal home buying incentives gone, consumers have only local market conditions and mortgage interest rates to guide them in determining the merits of buying.

Relocation Review/August 16, 2010