Recently, apart from transactions conducted on traditional real estate floors, property trading activities on websites and social networks nationwide has seen a bustling ambience, and Da Nang is no exception.

Some websites listing sold prices of a house is different.

According to the city-based Brandee Online Marketing Training Centre, there are 185 websites and 28 apps providing real estate information listings across the country. The amount of news and posts shows up every minute with a wide range of transactions relating to the trade in land, houses, apartments, and other types of housing.

This fact demonstrates a rising demand for such information, the great potential the online real estate market holds, and a positive change in real estate transactions in the city with information provided visually, accurately, and conveniently.

Notably, late last year, the launch of a series of smart trading platforms for the real estate sector, using big data technologies, has made the online real estate trading floors even more exciting and inviting.

In the burgeoning fourth industrial revolution (Industry 4.0), with the usefulness of virtual reality (VR) and augmented reality (AR), potential customers can gain a realistic perspective of a real estate project without actually having to physically go and look.

Similarly, it is common to access such property trading information on social media, including Facebook and Zalo.

Possessing 3 years’ experience in online real estate trading, Mr Ho Cong Hoang, residing in Cam Le District), said, thanks to the convenience of smart trading technologies, property brokers now mainly provide in-depth consultations or take their clients to the project site to introduce land lots, hereby inspiring such real estate salespersons to be more proactive and professional.

Mr Tran Xuan Hien, the Vice Chairman of the Board of Directors of the Vicoland Housing Development and Construction Corporation, remarked, online real estate transactions help to reduce advertising costs, and enable real estate salespersons to access their potential clients in a more effective manner.

However, besides the advantages online real estate floors boast, there are also many risks, especially in confirming the reliability and truthfulness of property information.

It is not difficult to realise that many products having the same location, or belonging to the same project are valued at different prices displayed on some webs.

In his recommendations, Mr Dam Quang Tuan, the Chairman of the Da Nang Real Estate Association underlined a must-do for property buyers to choose reputable, highly reliable trading platforms to access real estate information they really want before opening their pockets in order to avoid falling victim into pricing traps.

It is also highly recommended that the general public should go to the relevant local agencies to verify the online information, and learn about a list of real estate projects eligible for the transfer of land ownership rights before making their purchase decisions.

Last, but not least, it is necessary for buyers to guard themselves against false rumours relating to properties and projects lacking legal framework in order to minimise risks.