Who Is A Traditional Broker?
A traditional broker is someone who is well-versed with the real estate industrial knowledge and he is updated about the new market trends. He is someone who has spent years in the industry handling various types of property deals.
A decorated traditional realtor has sound knowledge of rules & regulations applied in the trade of real estate products. A professional goes out of the box sometimes to help you crack a beneficial deal. The experts help you in the end-to-end deals of commercial, land-based, or residential properties.
What Are Online Property Portals?
Online property portal is a new trend in the real estate market. It is a result of technological upgradation and the availability of high-speed internet. Today, the majority of people explore different types of real estate properties on these dedicated property portals. You can find detailed descriptions, technical specifications, and comparative analyses between multiple available properties online. It saves your energy, money, and time. You can even explore real images of original real estate products.
Property Portals Vs. Traditional Brokers
Many people have contradictory points of view about both types of brokers. It depends on the situation and various factors affecting the property-buying process. People with prior experience use online property portals to work out the best property out of all the available options. On the other hand, first-time buyers still look for assistance from traditional brokers. Let’s discuss some differences between the two based on certain factors.
- Budget – Budget has always been the major factor in influencing the buying decision. However, it may be a situation where a buyer would opt for either of the ways to get expert advice for a property purchase. Online portals are cheaper than the commission charged by traditional real estate brokers. Thus, people with a sound budget opt for traditional realtors, and buyers with a limited budget seek help from online portals.
- Comfort With Technology – The 21st century is an era of technology, and people love to find property options online. Various trusted online portals provide a comprehensive range of real estate products & projects covering every local area with product descriptions and technical specifications. However, people with low technical knowledge, still look for assistance from traditional brokers. They even trust physical market agents over those online portals.
- Commission Affordability – Commission can be another deciding factor as many people wish to avoid paying big commissions against any property purchased. So, they avoid connecting with physical market realtors, and they look for help from online real estate property portals. However, people with a viable budget still consider that traditional brokers are better than virtual portals. And people agreed to pay the set percentage.
- Experience Level – Many people decide upon the experience these local realtors have over these newly launched online portals for the trade of various types of properties. People seek help from real estate agents as they put their knowledge, experience, and technical skills upfront to work out the best property options for a buyer. However, many online portals are decades older, and they have vast coverage.
- Need & Urgency – Online portals can help buyers find multiple property options in less time. So, people in need and urgency use virtual portals and real estate websites to compare and finalize the best matching property against their budget and needs. People with no urgency do physical market surveys and connect with traditional professionals.
- Time – Time is another major factor that influences a buying decision. Taking help from a real estate consultant can be time-consuming as you have to visit different sites and locations to explore available property options. On the other hand, property websites are less time-consuming and smarter ways to work out the best real estate product.
- Transparency – Hiring a professional agent can help you close a property purchase deal with more transparency. Online portals are authentic but still, they lack transparency due to the unavailability of any human face to interact with.
Conclusion
Today, the majority of people visit different property listing sites in India to explore various property options available in targeted areas without visiting them physically. However, traditional brokers are still more reliable service providers. Make sure you opt for the better way for the property purchase.
