Lighter Side: E-commerce to make its way to real estate?

by John Tenpenny09 Oct 2015
The online battle for clients has seen a new wrinkle added in the form of one website offering Canadians the option to purchase new construction properties using their credit card.

Canada-wide real estate search site BuzzBuzzHome announced the launch of a “buy now” button, allowing the purchase of a new construction condo or house online with a credit card.

“From your couch, you can actually do the full transaction and not have to leave the comfort of your home,” Matthew Slutsky, president and co-founder of Toronto-based BuzzBuzzHome, told CBC News.

He plans to post his button in January for new condos and, some months later, add pre-built houses. Only developers who agree to participate will have their properties for sale online. 

“It’s going to be, I think, pretty revolutionary in the market, and I think it’s really going to change the game a lot,” Slutsky said.

After selecting a property, shoppers secure the property with a deposit – paid for by a credit card.

Once the transaction is processed all that is left to do is secure a mortgage and pay the rest of the property’s price tag, which will be required down the road as the project gets built. 

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