Selling and buying of property is an art!

Selling and buying of property came to a standstill post-recession in 2008. The sub-prime crisis led to predicaments in the real estate market, due to which market crashed.

Sub-Prime Crises:
There are banks who want to lure the customers by offering them lowest rate of interest and other banking facilities at their doorstep. As a result, banks were offering lowest interest rates to its lenders, which initiated a race amongst banking industry to capture the leads. A record number of applications were filed by customers to avail this kind of facility. It backfired not only in the industry, but every other part of the globe was affected as debtors were not able to repay the amount lend by the bank, and as a result leading banks like Lehman Brothers got bankrupted.

Networking:
The Real Estate industry runs on networking not only amongst property dealers but also amongst lawyers and accountants, so that properties can be transferred without any hiccups.

Service providers that offer this kind of platform become a “one-stop shop” as one does not need to endure any hassles, and all things are done at one place.

Commission:
There are players in the Real Estate Market who are doing business primarily not to charge commission, whereas there are other players who charge hefty amount in the name of commission from you when you approach them to find a home for sale in NYC (or wherever you work).

Customers:
Customers are assets in Real Estate Industry. There are customers that want to buy property, but will probably never come back for another deal. Since this is their once in a lifetime deal, so the task of buying a property becomes even more tedious (as they will want everything the need, and will not compromise on any front). They are extra cautious and do not left any stone unturned before coming to any conclusion.

On the other hand, there are customers who are unable to renovate their properties but they have an urge to sell their respective properties, at that point-of-time, real estate agents should sense the nerves of the customers and come forward to clinch the deal. It results in a win-win situation for both the parties.

Technological Aspect:
The technology has allowed an individual to register and take a glance on a property according to his/her own discretion. There are times when it is not possible for one to see properties physically so internet allows one to look around each room, basement, or lawn.