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Real Estate on Craigslist: Market Effects

When it comes to real estate, the list of hosting websites and platforms to display and sell homes is virtually endless. However, of all these hosting sites and platforms, Craigslist has proven to have the largest impact on the market. Dealing with every level of real estate, from apartment rentals to large homes for sale, Craigslist offers something for everyone in terms of real estate, and therefore has had quite the impact on the real estate market.
Here at Red Enterprises, we work in a variety of disciplines within real estate. From buying real estate notes to consulting on owner financing, we strive to help prospective home buyers and real estate agents alike. With this, allow us to go into more detail on Craigslist and its effects on the real estate market.

Real Estate on Craigslist: What it Entails

As we alluded to above, real estate on Craigslist comes in every form. No matter the type of buyer (or renter), Craigslist is sure to have options for anyone. In fact, an article in the Washington Post describes Craigslist as "the single largest information exchange about the housing market in the United States." Furthermore, the hosting site includes real estate on both ends of the market, from private owners to professionally managed properties. Within, the same goes for the actual real estate, including listings for houses of any size and price. In turn, real estate on Craigslist often provides more information on pricing and the site itself offers a more insightful look into the housing market.
Though Craigslist helps people across the country find homes with ease, it hasn't had a positive effect on every market within real estate. That is, the buyer, seller, and renter's market.

Real Estate on Craigslist: Key Effects

From a buyer or renter's standpoint, Craigslist is quite ideal. It can even be helpful for many real estate agents who post their listings on the site. However, some within the market don't experience such positive effects. For one, newspaper classifieds for homes and rentals have taken quite the hit from Craigslist and similar sites, though that may say more about the nation's internet usage in general. For the most part, however, Craigslist does present advantages to most. It provides a popular platform for agents and private sellers alike to post their listings and find buyers, and even presents quicker turnarounds for such. As for those looking for a place to buy or rent, they can search from a broad range of criteria to find something that suits their specific needs—and the information is often all in one place.

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From finding homes as a prospective buyer to generating leads as an agent, Craigslist is seemingly ideal for both parties. While similar sites and publications may suffer, the benefits for the aforementioned buyers and sellers are clear.
If you ever need more information on the real estate market, buying notes, or owner financing, be sure to contact Red Enterprises. You can also give us a call at 307.213.9095.