Virtual real estate brokerages are transforming the real estate industry. Such entities allow agents and buyers to eschew antiquated home-buying processes and can help bring about lower costs for all parties involved. Virtual brokerages are upending brick and mortar real estate brokerages in the same fashion that Netflix eliminated video rental stores. Here are five things that you need to know about the virtual real estate brokerage trend.
Virtual Real Estate Brokerages Are Changing the Game
Here are five ways in which virtual real estate brokerages are bringing new best practices to the real estate industry:
- The agents who use virtual brokerage solutions are ten years younger than the industry average. These digital natives are skilled in using modern methods of home buying and selling. Such real estate professionals can provide the latest standards in customer service.
- Applications (including the Propy app) can be used by virtual brokerages to avoid unnecessarily using physical office space. Buyers can complete their purchases from devices of their choosing. Lower costs for brokerages can result in higher profits and, ultimately, better service.
- The easy transaction process leads to higher customer satisfaction. Customers see lower costs and simplified timelines.
- With a virtual real estate brokerage’s full integration with the MLS and other resources, agents have more technological tools than ever before to deliver results to their clients.
- Using helpful apps such as Propy, virtual brokerages can improve transaction efficiencies. With Propy, all parties in a real estate transaction can interact on a single platform. All contracting can be issued and completed virtually. Money can be transferred directly via escrow. If all parties cooperate, the transaction can be completed in just a few hours.
Will Your Next Home Be Bought or Sold Using a Virtual Brokerage?
The chances are that your next home might be bought or sold using a virtual real estate brokerage. The new paradigm is too efficient to ignore. In real estate, efficiencies equal savings. You will feel the time and currency savings in each step of the virtual brokerage experience. When preparing to buy your next home, make sure that you work with agents who are knowledgeable about this new brokerage model.