Finding Real Estate Deals Online

If you are buying a home, the task at hand may seem pretty daunting. It does not matter if you are a first-time buyer or are buying a new home for a second or third time. The act of finding a realtor, finding a home and then finding an affordable deal may sound like a big headache.

As a result, some companies are moving online in an idea that may seem a little experimental but is garnering some attention: real estate companies and brokers are going online to offer consumers the best deals when it comes to finding a house.

According to the National Association of Realtors, 24 percent of people who buy a home, bought the house after finding out about it online. In addition, an astounding 80 percent of potential homebuyers begin their search for a new home online.

So, some companies got smart and began moving online to give things like rebates or refunds to customers who do practically everything (in the home buying process online).

Please note that this new method of home buying is not for the faint-hearted. In fact, if you do decide to move online to take advantage of the deals, be prepared to do a lot of the dirty work (though it's not really too "dirty" so to speak, but it's not as easy as having a realtor in front of you guiding you around).

Redfin, in Seattle (www.redfin.com) allows buyers to look at a house and work with an agent - all online. If the buyer ends up buying through Redfin, the homeowner ends up coming away with two-thirds of what is normally the 6 percent commission a regular realtor gets. On the plus side, the company recently began offering services in the Southern California region.

This is a pretty nice deal if you are willing to do everything online. Note the fact however, that all companies are required to actually see the homes they are selling (so as to avoid any sort of fraud on the companies' part).

The Chicago brokerage company, www.buysiderealty.com also offers incentives. Buyers (who are preapproved) have the ability to work with someone via telephone and end up getting three-fourths of the agent's commission. Again, pretty nice deal if you don't mind that you are not physically meeting face to face with someone.

Obviously, you can end up saving a lot of money, but you also have to know what you are doing. Make sure to do your homework and also have a general understanding of the home buying process (if you are new at this). It will make you feel more at ease and will also ensure the speed with which a sale is done.