The online property market: the source and admire approach
‘Proptech’ has become a bit of a buzzword in the property industry over the past few years. The relationship between property and the internet has been growing at an incredibly fast pace, with property portals, online agencies and apps popping up left, right and centre.
You might think this is cause for concern for traditional agencies, like us. This is not the case; many buyers do not use these online portals to purchase property. Rather, house hunters seem to be taking, what we’ve coined, a ‘source and admire approach’ to online property shopping.
Why? Because purchasing a property is such a big commitment, and inevitably, buyers are still looking for human interaction before they take the leap. That’s why we pride ourselves on building transparent, lasting relationships with all of our clients, and we’re invested in achieving the best possible outcome every time.
We’re not saying don’t use the web to search for properties, though. All those portals are great tools to help you make such a big decision. In fact, we’ve noticed two distinct groups of internet buyers amongst our clients: those who source their information from the ‘net to make an informed decision, and those who admire other homes and properties to inspire them to start the search for their dream home. Hence, the ‘source and admire’ approach! Whilst these buyers know just what they’re looking for on the internet, though, they’ll still insist on human interaction and a real-life visit to the property to give them peace of mind in their decision.
Of course, there will always be buyers who will purchase property online – the wealth of portals and web agencies wouldn’t exist if they didn’t. The big ‘but’ here is that these buyers will be seeking low-risk, low-value purchases, not their dream home or their next big investment.
It might seem like the internet is taking over, but buyers clearly have a commitment threshold that overrides any perceived convenience. Buying a pair of shoes online is low-commitment, returnable and common place. A bigger purchase, like a car, is even becoming acceptable, to take advantage of online deals. However, in the property world, buying online is still a no-go for many buyers who, understandably, want to make sure their future home is just right before taking the plunge.
At Mishon Mackay, we’re in the business of providing value, not of ‘selling cheap’. From the smallest to the largest properties, we’re all about offering homes that people will aspire to own. Whether you’re sourcing online or at a branch, we’ll always provide all the information and advice you need to make the right decision for you.
We truly believe the human approach to property will long outlive the world of call centres and live chats! Get in touch with our friendly team to start your property hunt with the perfect partner from day one.