Sometimes it is very difficult to understand the power which the media has over the public. Here's how it influences the property market.
The media is seen as a reliable source of information, and so it is. Even though you do find a lot of journalist that tend to give a bit of ‘colour’ to a story to make it sell, when it comes to the real estate there isn`t very much ‘colouring’ in to be done.
This makes the real estate media as reliable as you can get, which is very important seeing that they can affect the sellers and buyers of property. “It has become evident that sellers and buyers alike use the media when they want to become more property sale transaction savvy. To have clients that are more familiar to the whole transaction process is very beneficial,” says Craig Hutchison, CEO of Engel & Völkers Southern Africa.
The influence of how people react to the property market is very much determined by the media, just as media influences our daily lives. With the general public`s belief in the media reports, a bad market related article immediately influences sales. For example a report recently done by the renowned Carte Blanche TV program, indicated to the public that when buying property it is essential to be sure of what you buy and what your rights are when buying a property to prevent possible losses. “When this episode was aired, immediately buyers became more aware especially when they view a property. This is very important as clients have to know about faults that there might be on a property. Engel & Völkers strive towards giving clients not just the best service, but also sell quality products to buyers,” Craig added.
With technology moving at such a fast pace it has become very easy for buyers and sellers to look for some advice anywhere, anytime. Most property websites feature some wonderful advice on what to buy, where to buy and even offers a quick affordability calculation. With all this information on property, there is no reason to be in the dark when it comes to buying or selling or in any of the procedures involved.