Monday, September 9, 2013

Templestowe Real Estate Agents don't sell many Templestowe properties.

In November 2012 I decided to post the addresses of properties for sale and the agents selling the properties on this blog. The result has been totally unexpected.

Previously I would have thought most properties advertised for sale would have been listed by an agent in Templestowe or a surrounding suburb. The result is the one agent in Templestowe sells very few, but more surprisingly is the number of properties which are listed for sale by agents in Box Hill,  further away and even interstate. I would have thought most people would have thought to list using a local real estate agent but if that was ever the case, it is no longer the case.

Since the 1st of July I've blogged about 43 properties. One listed by a Templestowe agent, 32 listed by an agent in a surrounding postcode and 10 listed by agents outside of the area. That's nearly a quarter of properties being listed by agents outside of the area. Whilst surprising on the one hard, it does make sense. It really doesn't matter as much where the agent is because most people would now use the internet to find properties and that means it doesn't matter where the agent or the buyer is located.

Whilst I don't wish to promote over, if I read the site information correctly, domain offers owners the ability to advertise their own property and if became the dominant source of properties, the opportunity for owners to easily and cost effectively advertise their own homes for sale may become a reality.

The internet is certainly changing the way business is done in many areas. We've seen share trading change from a percentage of the value of shares traded to a low cost per trade. Holiday rental properties went from mostly offline to nearly all online in a couple of years. It is only a matter of time until the real estate industry model changes as well. Perhaps not tomorrow, but I believe the day will come.

For those interested in promoting their own property on the internet with your own site you really can do it for next to nothing. A domain for around $20 (for two years), use some free hosting space, create your own pages and your property could be on the internet in a matter of days.

If you're interested in promoting your own home on the internet you're welcome to contact me.

Kelvin Eldridge
Call 0415 910 703 for computer support.

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