The rise of buying and selling real estate online


Covid-19 is considered a “catalyst” to promote online real estate sales, according to experts.

In the US, the country hit hard by Covid-19, 2020 remains a record year for residential real estate. Housing prices in major markets have risen despite an ongoing recession. Experts say real estate as a “platform” to support the US economic recovery.

A trend boosted in Covid-19 is the application of technology to real estate sales and management, according to Aaron Marshall – CEO and Co-founder Keyrenter Property Management, a franchise and real estate management company. “The Internet has changed the way of buying, selling, renting homes and managing real estate. Smartphones have also reshaped everything, helping people find homes and rent them wherever they want. Investors can too. Real estate management anywhere, “he said.

During the pandemic, real estate agents were still marketing homes directly, but the time they spent marketing and selling homes online was growing. The real estate companies both large and small take full advantage of the Internet in product distribution. This trend brings many benefits to home buyers. Because they can see photos, read the full description of any asset before deciding to cash down.

Residents at the Vinhomes Ocean Park project, one of the most searched projects on Vhome.

Online and mobile application traffic has also skyrocketed as more people are searching for new properties. Online real estate platform Zillow hit a record 218 million average monthly users in the second quarter of 2020, up 12 percent from a year ago. A July 2020 survey of this unit also showed that 36% of Americans were likely to buy a home online entirely and 43% would sell their home online during the pandemic.

In Vietnam, the trend of buying and selling real estate online appears and is strongly invested by businesses in Covid-19. One driver of the market is its high level of Internet users, reaching 68.72 million, accounting for 70.3% of the population, according to the latest reports by We are Social and Hootsuite.

Earlier last year, Sunshine Group introduced the Sunshine App. With this application, customers interested in the projects of this group can find out all the project information, see the shape and space of the house. In addition, closing transactions, closing apartments, transferring money, participating in the lucky draw is also done on smartphones, quickly and saves a lot of time. Traditional opening ceremonies taking place in the market for decades are also updated through the application.

In April, Vingroup marked the first time entering the online market. Through online sales, customers can connect directly with investors, consult location information, and plan through public data warehouses. Dat Xanh also launched an application that allows investors to search for real estate by voice and suggest other products suitable for customers’ needs.

Through a team of customer care, all three units will also assist buyers 24/7, guide home viewing with virtual reality technology, 3D, complete documents and procedures.

Not only domestic investors, but also foreign investors also quickly moved the sales team from the traditional market to online. For example, Gamuda Land launches an online product distribution channel. Homebuyers can find out information, home directions, deals … for projects.

Capturing this potential, many units develop objective real estate data portals, supplementing an overview information channel on markets, projects and products in all segments. Through these data warehouses, developers and developers have more opportunities to reach customers, while home buyers as well as investors can capture information and transact quickly and smoothly. More convenient.

One of the real estate data channels attracting interest is Vhome do VnExpress develop. Officially launched in December 2020, Vhome has so far attracted more than 100,000 users and 300,000 regular visitors. The expectation of Vhome’s development team is to bring accurate, objective and reliable information to readers.

Users experience Vhome with smartphones.

Users experience Vhome with smartphones.

Projects appearing on Vhome are carefully screened, ensuring legal criteria. Readers can rate, contribute comments on the project when logging into the Vhome website, through their Google account, Facebook or My VnExpress.

According to Vhome’s representative, the amount of access to this information channel skyrocketed in January and February, when Covid-19 was booming again in Vietnam. In the future, the information channel is expected to add and update many new features to meet the increasing demand of home buyers, investors as well as investors, project developers.

Hoai Phong

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