The impact of social media has touched the lives of people from all walks of life. The technological advances made in the field of real estate investing have reached a crescendo, and this is evidenced by the fact that practically everything is done online. Right from property hunting to final negotiation, everything can be done online. Online shopping is growing in popularity and the demand of property in developed markets where you have economic stability and exceptional growth prospects is driving the need of social media. The ease through which it becomes easy for potential investors to conduct their research has prompted them to rely on the data found online. The presence of sites like Flipping Pad, Black Window Network and Bigger Pockets play a major role in bringing investors and sellers together. This has also prompted the newbie to enter the field of investing. There is so much information online, that it is easy to make an investment. New investors can even join real estate investment social networking sites to exchange ideas and learn more about investing. Investors who had been intimidated by the prospect of investing has now ventured forth, determined to try their luck as well.
Information from anywhere can be accessed easily
It works for title and escrow companies as well. They can send updated information to their clients so they can make decisions based on the data collected. If an investor is interested in quick closing, there is provision for digital signatures and email or text signatures. Thanks to the help of latest software, realtors can send links of properties to clients residing anywhere in the world. And with the help of 3D modeling, prospective buyers can look into the 3D versions of rooms in a house, so that they can actually get the feeling that they are seeing the property for real.
Around 50% of the buyers are under 30 years of age and they resort to using the latest technology and the social media to buy properties of their choice. It would be these people who would start buying properties in a few years. Considering that radio took 38 years and the television took 13 years to reach its first 50 million users, the fact that the number of people using the social media and smartphones is reaching an all time record within a very short time is very, very impressive. Facebook, Google+, Linked and Twitter play an important in helping investors to market their properties.