Beware Internet dependency.Real estate investment decisions are among the most significant considerations on the corporate as well as the personal level. These decisions require careful collection of all available building data, elimination of extraneous ex·tra·ne·ous adj. 1. Not constituting a vital element or part. 2. Inessential or unrelated to the topic or matter at hand; irrelevant. See Synonyms at irrelevant. 3. information, and a tight focus on the relevant - along with a strong awareness that perfect information is never available in real estate markets. And yet, in this dot-com world, marked by the ever-increasing access to data over the Internet, market participants The term market participant is used in United States constitutional law to describe a U.S. State which is acting as a producer or supplier of a marketable good or service. When a state is acting in such a role, it may permissibly discriminate against non-residents. are embracing the medium as the answer to all their information needs. This is a trend that is both promising and troubling. Online real estate companies undoubtedly provide a plethora of information applicable to leasing, investment sales and finance, affording a potentially more efficient real estate market. However, does more information equate to a clearer picture of the real estate, or are we simply adding superfluous pieces to a jigsaw A Web server from the W3C that incorporates advanced features and uses a modular design similar to the Apache Web server. Jigsaw supports HTTP 1.1 and provided an experimental platform for HTTP-NG. See HTTP-NG and Amaya. puzzle that, by its nature, can never be 100 percent complete? The arrival of real estate on the Internet does not mean that the historically inefficient real estate market is now an efficient market characterized by full-disclosure and perfect information. Participants should never forget the bricks and mortar A store (shop, supermarket, department store, etc.) in the real world. Contrast with clicks and mortar. , the experience necessary to select and verify only the most relevant data, and the application of sound judgement Noun 1. sound judgement - the capacity to assess situations or circumstances shrewdly and to draw sound conclusions sound judgment, perspicacity, judgement, judgment trait - a distinguishing feature of your personal nature in the absence of data. Many of the new web sites, constructed by top-flight Internet technicians, offer well-formatted data that is attractive, simple and easy to read. The task of the real estate industry now becomes extracting only the information relevant to the deal at hand and using experienced professionals to verify, fill in and interpret such data. It is this "human element" that goes to the fundamental concept that real estate markets are inefficient markets Inefficient Market A theory which asserts that the market prices of common stocks and similar securities are not always accurately priced and tend to deviate from the true discounted value of their future cash flows. This theory opposes the efficient market hypothesis. marked by unique goods. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion