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4 Old Vs New Ways Of Doing Business In Real Estate - Properties - Nairaland

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4 Old Vs New Ways Of Doing Business In Real Estate by KinsleafLtd: 4:08pm On Oct 24, 2023
From the days of early man down to this new age, land has been traded and bought. Real Estate existed for as long as man himself. The real estate business has quickly changed it's mode of operation since the invention of internet and ever increasing competition rate.

Here is a comparison of the old and new ways of doing business in real estate.

1. ADVERTISING THROUGH NEWSPAPERS VS ONLINE ADVERTISEMENT: In the world before technology, one of the ways people get information is through newspapers. Prospective buyers look through the real estate section of the newspaper and choose a property which best suits their needs. The internet and technology have made buying process easier for the buyer. Sellers now upload pictures and details of the property online. This can be done anywhere in the world, making things convenient and also saves time.

2. AVAILABILITY OF REAL ESTATE AGENTS: Before there was no need for an agent, as the transaction of selling a property was limited to the buyer and seller. Today, real estate has become a complex web with a lot of processes that it is vital to have an agent and most times, lawyers.

3. METHOD OF MARKETING: The way of marketing used to be from door to door until the introduction of telephones, in which conversations were unfriendly. Now, with technology and the internet, marketing has become coherent and reached an even wider audience.

4. EMPHASIS ON CUSTOMER SERVICE: There were no accounts or Company testimonials, as word of mouth was the only means then. The real estate methods paid little attention to customer service.
Customer service in today's world is important and agents pay so much attention to it. With the internet, clients can write about their experiences with an agent and this can make or destroy the business.

Which of these methods do you prefer, the old way or the new?

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