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Traditional realtors disappear with emergence of cyber ones - Daily News Egypt

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Traditional realtors disappear with emergence of cyber ones

Websites and social media proved more successful than traditional realtors in selling and purchasing real estate units in Egypt

Working as a realtor has always been attractive for many people due to its own high income, but with the spread of the internet and social networking, this is no longer the case, as many real estate companies have found that working through the internet is easier and cheaper, and thus the need for a realtor is obsolete.

Sales and marketing director of Osool Group for real estate Haytham Helmy said that the sale and purchase of real estate operations today have been facilitated by the internet, and often using these websites is easy to search for the desired housing unit in diverse places, areas and sizes.

Helmy added that competition among real estate companies is at its height, especially after the spread of online outlets and Facebook pages, which are used for publishing advertisements and offers.

“Small and medium-sized real estate companies prefers to advertise via internet to save a lot of money, which goes to the realtors. They only hire a social media specialist to publish and disseminate our products and units,” revealed Helmy.

“These specialists work on enlarging and increasing the number of users and study the market through these pages and assess the needs of users to meet these needs to increase the company’s sales.”

A large number of young people work in the field of brokerage, as it is considered a career does not require any particular specifications or talents to achieve the gains.

Realtors receive a commission of 2.5%, a well known fact in the business. However, some realtors work without a license, and so receive commission between 1% and 1.5%.The increase of online real estate rather than realtors has proven successful in the sale and purchase of real estate units in Egypt.

In Egyptian real estate market, there are many examples of online realtors, such as Aqar Map, Aqarat Online and Mega Sooq and other websites.

The real estate companies providing real estate marketing online could be an effective way to create an Arab common market rather than Egyptian only, both buyers and sellers, as well as providing the best real estate deals in Egypt and in some Arab countries.

Real estate websites provide services for all segments of society, especially the higher-income segments. As such, many real estate companies have turned to online real estate sales, especially companies operating in the new cities and high-income areas in Egypt. These companies make use of technology and the spread of social media to circulate photos and videos of the finished real estate units and compounds.

Traditional realtors cannot do this as they lack for qualifications to gather all market deals inside and outside Egypt.

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