In the real estate industry, there is one constant: Change is inevitable. And for agents today, a change may be bubbling that could change the way we work.
According to a report by Jarred Kessler, CEO of EasyKnock, posted by Forbes, emerging technology is making information available on the MLS more accessible. As a result, the home-buying-and-selling process is changing quickly. From home listing apps and websites to virtual reality helpers hitting the market, real estate technology is about to take the industry by storm.
Clients now have more control in the process, including scheduling showings. Younger buyers also value control in the real estate process.
Accessibility also is shifting, changing the real estate paradigm as buyers and owners can communicate directly.
Commitment also is changing, according to Kessler. Newer platforms are changing the way sellers work with agents. Xome lets you pay a flat fee and no commission, for example.
“And it’s why we made sure that on EasyKnock, users could control their own interactions by enabling peer-to-peer communication without a broker at all.”
Platforms also are impacting the commissions that real estate agents and brokers are charging.
Another key area is public scrutiny, Which Kessler said creates inertia and deters potential sellers from entering the market. Tech platforms help to connect buyers with serious contenders and allow the owners to control the viewings.
Moreover, days on the market also is shifting as technology impacts. The longer a home is on the market, the more likely agents are to avoid showing it.
“On our platform, users are always potential sellers, so days on the market do not exist,” Kessler says.
Even in today’s market where inventory is limited, technology can show homeowners the best way to test the market as they sell their home and eschew the traditional axiom that the longer a home is on the market, the more likely people will think there is something wrong with it.
As real estate technology empowers owners and buyers to connect directly, the challenge for real estate agents is to position themselves to remain a key part of the equation.