The Internet plays a major role in not only business but also personal investments with more information at hand today than ever. So-called “disruptive technology” is having a significant impact upon the worldwide real estate market opening information portals and discussion forums to new and experienced investors. If used correctly this new transparency is an extremely useful tool for private investors but there is still a need for caution.
Information exchanges
In reality the Internet is the ultimate information exchange allowing different opinions and views to be aired and discussed. The propertyforum.com there is proving to be extremely popular amongst property investors offering some very useful advice and opinions. The ability to ask questions, read the opinions of others and then use this as a basis to create your own views should not be underestimated. However, it is also sensible to find supporting information from elsewhere if you see a discussion which catches your eye.
Eroding margins
Those operating in the property sector, real estate agents to architects, have seen a gradual erosion of their margins due to increased competition. To a certain extent this has been offset by reduced running costs as many move to a greater online presence often reducing their off-line exposure. While there is no doubt that competition has focused the attention of many contributors to the sector, at the end of the day you do get what you pay for. If the cost of a particular service looks too good to be true then it probably is – would you not rather appear a little bit extra for greater confidence?
Reputations at risk
It would not take anybody long to find an online dispute between an investor and a third party in which the reputation of the third party was called into question. The fact is that no business service provider will ever be able to keep all of their customers happy all of the time. There will be issues, there will be problems but in many ways it is how they react to these challenges which should attract most focus. So, the next time you see the reputation of a third party called into question do not take one piece of criticism in isolation, do your research and see what the company has been up to.
Scams and fraudsters
Unfortunately the Internet has also attracted more than its fair share of scams and fraudsters often targeting those most vulnerable. If you have any concerns about a property development or a third party it is a vital that you do your research, ask questions on forums and find out exactly what is going on. Unfortunately there are many people who have invested into schemes which “looked too good to be true” only to find they were too good to be true. While the Internet has given fraudsters the ability to reach into your private world it has also given others the ability to warn others.
Conclusion
The term “disruptive technology” sounds a little sinister when in reality the emergence of the Internet has certainly assisted property investors in their quest for lucrative returns. There is more information out there, this information is passed at lighting quick speed but remember, check and double check everything you read. Even though the world in which we live in has changed dramatically with the introduction of the Internet, the old adage “if it looks too good to be true then it probably is” still stands the test of time.