Chase Milner and Robert Rico sit down to discuss the future of Real Estate and if new technology and websites will make agents obsolete. This deep dive in the trajectory of industry is the perfect blueprint for knowing how real estate agents will adapt in the future. Stay up to date with the latest videos by subscribing here.
Will Real Estate Agents Become Obsolete Or Diminished Due To Technology and Websites?
Nobody can predict the future of real estate. With the popularity of new websites like Trulia and Redfin, you don’t need a crystal ball to see the impact they’ll have on the industry. Technology and websites are making real estate research, purchasing, and selling easy and accessible to everyone.
California real estate education is important to being a successful agent. But, some people are getting discouraged from entering a career path that could become obsolete.
This leaves people questioning the relevance real estate agents have in the next few decades. More people than ever are using websites to answer questions and to sell or buy property.
Despite some people’s expectation of an inevitable real estate agent demise, the future might not be as bleak as they think.
Real Estate Websites and Real Estate Agents
Third party aggregators like Trulia, Zillow, and Redfin have made their presence known in the real estate industry. However, they can’t replace the work of a Real Estate Agent. When selling a property, there’s information the regular buyers and sellers don’t know.
This is the data accessible to the Real Estate Agent; information the websites don’t distribute.
Real Estate Agents help clients through the entirety of the property transaction process. From the legal issues involved (such as disclosure reports) to filing the correct paperwork, buying or selling a home turns into an overwhelming process.
Real Estate Agents lessen the burden of the legal hoops clients have to jump through.
Websites Are More Beneficial to Real Estates Agents
Real Estate Agents share a common feeling that websites are stealing clients. When a property is listed on a website like Trulia, Zillow, or Redfin, the client will bypass the agent to go straight to the property owner or buyer.
What most agents don’t realize is this isn’t a case of losing clients, but an opportunity to make the transaction process efficient.
Instead of spending days – even weeks – browsing through property listings, clients have the opportunity to come prepared into a meeting with a Real Estate Agent.
Less time is spent on client-agent property searching, and more time on the transaction. When you have prepared, decisive clients there becomes more room to take on additional clients.
You will have more clients, commission, and time to run an efficient business.
Traditional Real Estate in a Digital World
The presence traditional Real Estate has in a digital world doesn’t change. Despite owning a website, you still have to go door-to-door finding leads. Currently, the digital world doesn’t have the services available to remove traditional Real Estate Agents from the transaction process.
Real Estate Agents have to shift their mindset when working with clients. Instead of looking at websites as a lead thief, they should use them as a tool to expand their clientele. Moreover, the transactions in Real Estate are extremely complex.
This kind of intricate transaction can’t be done behind a computer.
Real Estate deals need to be done between people due to the extensive amount of paperwork, negotiation, and relationship building involved. A good Real Estate Agent will have skills in bringing people together and being the mediator between two parties.
Their goal, in the digital world, is to ensure buyers and sellers are both happy.
Online Discount Brokerages Versus Traditional Real Estate Agents
Online discount brokerages, such as Purplebrick and Redfin, are websites that list houses for a substantially less amount of money than you can with a traditional Real Estate Agent. This type of business discounts people’s ability to make money. Essentially, it’s a discounted service.
This might sound like a great deal, however the quality of service reflects its costs.
When selling or buying a property, the current tech and website climate will only get a client so far. If a client is serious about buying or selling, they need to hire a real estate agent.
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