Obsolete? Not Exactly
More people are using a real estate agent than ever before. Over 92% of homes are sold with a real estate broker. Most real estate agents are not becoming obsolete, but their role in the buying and selling process may be evolving as technology and online resources become more prevalent to each real estate transaction.
New Technology, Same Problems
While technology has certainly made it easier for consumers to access information about properties and connect with potential buyers and sellers, real estate agents still play a crucial role in the process. They have extensive knowledge of the local real estate market and can offer valuable insights and guidance to buyers and sellers. They can also help negotiate contracts, handle paperwork, and navigate any legal issues that may arise. In fact, new innovation actually empowers both a buyer’s agent and seller’s agent to help maximize their value. For example, who better to triangulate fair market value and execute online marketing than other agents? In addition, many people still value the personal touch and expertise that a real estate agent can provide. While online resources can be helpful, they cannot replace the knowledge and experience of a trained professional. Both home owners, home buyers ,and real estate investors alike can all stay competitive and benefit from the services of their own agent.
Real Estate Transactions of the Future
Overall, it is likely that the role of real estate agents will continue to evolve and adapt as technology and consumer preferences change, but they will likely remain a vital part of the real estate industry. Any online platforms or new technologies that are intended to succeed where real estate agents fail is at best myopic – online search tools are great as a supplement for real estate business but never a substitute for a good agent.
