Real Estate Information Overload – Sorting Out the Real from the Hype

The Internet has changed our lives, and sometimes it’s hard to tell what’s real in the world of real estate. Web sites are sprouting like vines in a rain forest, offering conflicting estimates of your home’s value and maps of exactly where you live. Just try a search of your own property on Zillow.com and then on Cyberhomes.com. I can almost guarantee that both sources will come up with different values. Checking on my personal residence on both websites, there is a difference today of a whopping $125,439.00.

A few years ago, real estate agents held all the cards. Knowledge about homes on the market, comparable sales, and trends – all these valuable bits of information were hard to get for the end consumer. Now, anyone with an Internet connection can get information about the house next door or one thousands of miles away.

Information transparency has arrived, and with it information overload. When we have little information, the choices we make are limited and under-informed. With more information, we have a better chance of making a good decision. But having too much information and trying to hack through a jungle of conflicting information we are back at square one, overwhelmed by too much data and unable to make sense of it.

This is where a well-informed REALTOR® can step in and help you find your way. A professional agent gains perspective by being immersed in a local market such as the Phoenix metropolitan area. As homeowners struggle with conflicting and confusing information, the REALTOR’S® consulting skills and experience help sort the reality from the hype.

The concept of “you get what you pay for” is absolutely true in real estate, too. Yes, there are a lot of different business models out there, including full service brokers and discounters as well hybrids. Regardless of what brokerage one chooses, your trusted advisor and agent should have an in-depth understanding of the local market.

An agent who studies your market, and who understands market trends, will be able to cut through information overload to help you make the best real estate decisions.