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Virtual Real Estate... Is it for real?

By
Real Estate Agent with INET Realty Honolulu, HI 68131

I was just pondering on one of my deals that closed a few months ago, where I never met:

1- the sellers

2- the buyers

3- the buyers agent

I do business on the lovely Island of Oahu, Hi and these sellers contacted me to sell their property. The sellers had moved out of their house about a year earlier, were living in Georgia & the property was rented out.

We communicated with e-mails & phone calls for the duration of the listing & Escrow. Since Hawaii accepts scanned & faxed signatures  and doesn't require sellers & buyers to come together at closing , the sellers didn't come to Hawaii for the closing.

The buyers' agent showed the property herself ( it was on lock box) & I didn't have to be present at the inspections etc... 

So I also never met the buyer's agent nor the buyers!!! It was a strange feeling to receive my commission check a few days after closing without having met any of the key players.

Looks like with the advent of technology, there will be more and more transactions like that. Transfers of property between people and agents who will never meet in person! Welcome to a brave new world of Real Estate!

Posted by

Monique C. Ting S e-pro SFR

iNet Realty

1750 s. King street Honolulu, HI 96826

Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Monique:  In a destination like Hawaii, I'm sure this will not be the first time this happens.  And with technology, I feel like I know some folks I meet online better than clients I sit down wth in person. 

Dec 23, 2008 02:47 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

We have had that occur a few times over the years.  Since we specialize in real estate on the Web, it is not an unusual occurrence.  The key is to do more deals like that.

Dec 23, 2008 02:50 AM
Anonymous
Monique Ting, RA e-pro CENTURY21 Hawaiian Style www.MoniqueHawai

Jim: I am glad to see that you are doing good business specializing in real estate on the web. It is my intention to increase my internet presence for 2009!

Chris Ann: Yes, I think that this is a sign of the times... it was actually great! 

Dec 23, 2008 10:38 AM
#3
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ

I have done a few deals like this with extremely busy individuals. It's different but we will probably see it more often in the future.

Dec 23, 2008 10:47 AM