Issues for consumers when searching for property online

When you are a land buyer in Sri Lanka, looking to buy a land or house, or even a commercial property, there are many options available. One is to find a suitable property through real estate companies in Sri Lanka who have the right contacts and experience, and the other is to do it yourself, by searching through traditional newspaper advertisements, word of mouth or checking online listings. There are several reasons why people have shifted to searching for property online rather than relying solely on traditional methods. Here are some key factors:

●      Convenience: Online searches offer the convenience of browsing through numerous listings from the comfort of your own home or even while on the go. People can access a wide range of properties any time, without being limited by physical location or working hours.

●      Extensive listings: Online platforms provide a vast database of properties, giving users access to a broader selection of options compared to traditional methods. These listings often include detailed information, photographs, virtual tours, and sometimes even 3D models, providing a comprehensive view of the property. For example, if you are looking for coconut land for sale in Sri Lanka, you can find listings from around the island in varying sizes and price ranges.

●      Time saving: Searching for property online saves time by allowing users to filter their preferences and narrow down the search based on specific criteria such as location, price, size, amenities and more. This streamlines the process eliminating the need to visit multiple places physically, which can be time consuming.

●      Increased transparency: These platforms often provide transparent and comprehensive information about the land or house for sale. Users can find details about pricing, property history, amenities, neighbourhood information and even reviews. This transparency helps potential buyers or renters make more informed decisions.

●      Comparison and research: These searches allow potential buyers to compare different properties easily. They can view multiple listings side by side, assess their features, pricing and other factors, enabling them to make better comparisons and conduct thorough research before contacting sellers or agents.

●      Access to additional resources: These portals often offer additional resources to assist buyers in their decision-making process. This may include mortgage calculators, neighbourhood information, market trends, property value estimates and more, which empower individuals with valuable insights and data.

●      Global reach: When you search online, it enables you to search for properties beyond your immediate geographical location. This is particularly beneficial for those looking to invest in real estate overseas or explore opportunities in different regions or countries.

While online property searches have become popular, traditional methods such as working with real estate agents, visiting open houses or relying on print publications still play a role in the real estate industry. Many people combine online search methods with traditional approaches for a better experience, coverage and to make well-informed decisions regarding what they want to buy.

What kind of issues do consumers face when searching for property online and how can they overcome them?

Online searching has numerous advantages, but they are not without some risks and challenges. Here are some common issues that searchers may face and how to overcome them:

●      Accuracy of information: These listings may occasionally contain inaccurate or outdated information. To overcome this, you should always cross-reference information from multiple sources and consider contacting the seller or listing agent directly to verify details before making any decisions.

●      Limited or incomplete listings: Some platforms may not have comprehensive listings or certain properties may not be listed at all. By utilising multiple real estate websites or apps, you can increase your chances of finding a wider range of available properties. Additionally, you can get in touch with local real estate agents who may have access to exclusive or upcoming listings.

●      Lack of personal guidance: These platforms generally lack the personalised guidance and expertise provided by an agent. Try engaging with real estate professionals who specialise in the desired area or property type and can provide you with valuable insights and guide you on the search process. In addition, they may also be able to help you with negotiations and paperwork.

●      Limited visual assessment: While online listings often include photos and virtual tours, they may not provide a complete picture of the property’s condition or ambiance. In-person visits whenever possible to thoroughly evaluate the site and its surroundings can overcome this issue.

●      Online scams and fraud: Unfortunately, online platforms can be susceptible to scams and fraudulent listings. Hence, you should exercise caution when dealing with online transactions, especially when asked for upfront payments or if something seems too good to be true. It is crucial to verify the legitimacy of the listing and work with reputable sellers or agents. Do some research on both the platform and those involved to identify potential red flags.

●      Overwhelming amount of information: The abundance of these property listings and information can sometimes be overwhelming. TO manage this, it is helpful to define specific criteria, such as location, budget, and desired features prior to starting your search. Using search filters can narrow down your options and make the process more manageable.

Combining online search with offline research, engaging with professionals and conducting thorough due diligence can help you overcome the challenges associated with online platforms and searches.

Can real estate agents help consumers with searching for property online?

Real estate agents can certainly assist customers with online property searches. They can bring in their expertise, experience, market knowledge and personalised guidance into the transaction. Here’s how an agent can help you:

●      Refining search criteria: They work closely with clients and understand their specific needs, preferences and budget, and hence they can help refine search criteria and use their knowledge of the market to narrow down suitable listings, saving you time and effort.

●      Access to exclusive listings: They often have access to exclusive listings or off-market properties that may not be publicly available. They can provide you with additional options and opportunities that you would not find on your own.

●      Local market insights: These agents have a deep understanding of local real estate markets, including neighbourhood dynamics, property values, market trends and future developments.

●      Screening and pre-selection: They can pre-screen online listings on your behalf and can review properties, assess their suitability based on your needs and provide feedback, saving you a lot of time in sifting through irrelevant and unsuitable listings yourself.

●      Additional information: They may have connections with other listing agents and be able to get your information that you would not be able to find yourself.

●      Negotiations and transaction support: These agents are well experienced in negotiating and can advocate on your behalf during the buying or renting process. They can assist with making offers, negotiating terms and handling the paperwork involved with closing a deal.

●      Expert advice: With their experience, they can provide expert advice on local market conditions, pricing trends and legal considerations. They can help you evaluate the pros and cons of the different properties and offer their recommendations.