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Virtual Solutions in Real Estate ArticleID: 15 Date: 1/21/2001 11:45:00 PM Written By: IHTKnowledge power. The Internet is useful for more than just buying and selling property. Says Paul Onwuanibe, executive director of Landmark Virtual Offices Ltd., a company that rents office space, staff and equipment in London''''s Mayfair district through its Web site (http://www.landmark-offices.com): ''''''''Globalization, the growth of information technology and the pace of change mean companies need to be more adaptable, quick-thinking and fast-moving to stay ahead of the competition. Virtual solutions in the real estate industry are becoming an affordable necessity,'''''''' Mr. Onwuanibe says. He says the use of the Internet has changed the pace of the industry, making it more dynamic and proactive. ''''''''Information travels much faster,'''''''' he says. ''''''''This is the catalyst for most property deals. Now, in both commercial and residential property transactions, you can access information about availability, costs and terms almost as quickly as making a phone call for a routine inquiry. The Internet has done away with a lot of the red tape and has made businesses like ours more available to consumers. A lot of the mystique about the industry is gone.'''''''' Mr. Onwuanibe sees the Internet as essential to Landmark. ''''''''By the very nature of our business,'''''''' he says, ''''''''it needs to be easily accessible to the market, clear, affordable and efficient. Our business is geared toward international executives who wish to establish a low-risk, low-cost, high-quality entry-level presence in London. They used to say that location is everything in property. We believe it is communication, information and flexibility.''''''''
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