Concrete Analysis | Be more cautious, do your homework when looking for property online

Many estate agencies have adopted online promotions, or even online inspections of properties. It is not uncommon to find property agents – or even “KOLs” or key opinion leaders – posting photos and video clips of properties on different online portals or social media platforms to promote these properties.

There are also prospective clients who do not wish to visit properties in person, regardless of the pandemic. As a result, there is a growing number of videos out there embedded with virtual reality technology, trying to simulate the real-life experience of property inspection off-site for the convenience of prospective clients.

As a matter of fact, advances in technology change people’s lifestyles and will inevitably shape the new modes of business operations at estate agencies. Notwithstanding that the new modes might be more convenient and effective for business, property agents are reminded to remain prudent while consumers should be more cautious when browsing through the overwhelming amount of property advertisements on the internet.

When issuing property advertisements in whatever format, or through whatever platform, property agents are indeed obliged to comply with all the relevant regulations and guidelines of the Estate Agents Authority (EAA). For instance, property agents must obtain the vendor’s written consent before the issuance of advertisements for residential properties and ensure that the property information provided in the advertisements is accurate.