What's the effect of online real estate platforms on the industry?

Hear the advantages and disadvantages for buyers, sellers, and realtors when consumers use digital tools for house hunting, as well as putting their homes on the market.

Long, frustrating, confusing, and stressful are a few words people use to describe the process of selling or buying a home. Responsively, innovative companies are coming to the rescue with online real estate platforms. The advantages and disadvantages of the easier web-based process depend on the market and more.

In this article on KJZZ March 8, 2018, executive director of the W. P. Carey Master of Real Estate Development (MRED) program shares:

It depends on whether you're buying or selling. In both cases, you have to consider opportunity costs. If a site like OfferPad wants to purchase my house for a guaranteed price, I have to wonder whether I'm leaving money on the table if it's a very active market. The buyer has other issues that they need to be concerned with that have to do with their ability to evaluate opportunities. Realtors usually coach and answer questions. Depending on the platform, you may be missing out on some of their guidance.&nbsp

— Executive Director of MRED Mark Stapp, who is the Fred E. Taylor Professor in Real Estate