The days when the only realistic course of action for prospective homebuyers was to scan localities and properties personally are over. Though personal inspection of short-listed options is obviously still de rigueur before the final purchase, the actual process of short-listing has become increasingly 'virtual'.
Today, a significant section of Indian homebuyers launch their search by scanning available options listed on the Internet. It is only after this process has yielded enough prospects that they physically inspect properties. Certainly, there are a number of advantages to using the on-line approach in the initial stages of a home search. The Internet allows a prospective homebuyer to analyze the 'vital statistics' of an unlimited range of properties in the shortest possible time.
Online real estate listings often feature photographs, as well - this helps in the visual aspect of home selection. However, we are still a way off from more advanced Internet listing systems in the West, wherein buyers can inspect properties in 'surround-view' panoramic views. Indian property buyers are now highly attuned to the need of proximity to important features such as schools, places of religious worship, shopping centers, leisure facilities, public transport options and general connectivity to key areas within the city.
The Internet is a very useful tool when it comes to eliminating properties and localities on the basis of personal preferences. No longer is a homebuyer limited to choosing from a handful of available options because of budget constraints.
Of course, the Internet is not a complete substitute for a real estate professional when it comes to the transaction stage. Nor do any but the most foolhardy buy a property without actually visiting and inspecting it. The advantages that the Internet offers in terms of real estate buying are limited to rendering the initial weeding-out and short-listing process more efficient, organized and time-effective.
Understanding this many of the real estate dealers are increasing the presence through on line visibility. Investors are more informed and slowly agents are maturing to understand that there is a need to come forward in educating the investors on the available options and more transparent dealings. The right balance will be created when both the investor and the realtor understand the significance of the online and the offline medium and give the due importance and attention to each to leverage the benefits of each.
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