Disruptive technology is an evolution that is changing the way many industries function and survive. There are hundreds if not thousands of articles written about how technology is changing real estate as well – and some even question if the agent can be replaced altogether. A few months ago, Forbes published an article titled “Will Technology Replace The Real Estate Profession?”. Inman News, TechCrunch, Curbed, Digital Trends and dozens of publications have reported on this topic and virtually everyone agrees with the sentiment that echoed by Sereno CEO Chris Trapani below.
There is no app for trust. There is no chatbot for experience. There is no search engine that answers your panicked 3am buyer’s remorse crisis. There is no cryptocurrency that values and negotiates what you need, when you need it with the exact strategy that will get it for you. In short, relationships will continue to be the driving force behind every successful buyer and seller transaction in which everyone ‘wins’. If any party walks away feeling slighted, disappointed or regretful – chances are they weren’t missing an important piece of technology but a true human champion.
But hey, this IS Silicon Valley and we are not saying that technology plays no role in our industry, simply that it cannot replace the tangible relationship that exists between an agent and his/her clients. But there are ways we can reasonably expect real estate to be disruptive, here’s a few:
1) Empowerment. The sheer amount of information available online can be overwhelming, but it also means that buyers and sellers are more equipped than ever to ask great questions, become aware of available properties the minute they hit the market and easily see recent sales data. The agent’s role is no longer the mere messenger of information – but the strategist, analyst, mediator and realist. Expertly guiding clients through the mass amounts of data available isn’t an option, it’s a requirement. Educated buyers and sellers are a true asset in the process and should be treated as such.
2) Communication. Beyond using texts, Facebook Messenger and email ~ there are countless technologies that allow the secure transfer of documentation as well as manage e-signatures, required disclosures and receipt acknowledgement and more. While much of this is to ease the changing and growing requirements on the lending agencies, it’s ultimately are more convenient for buyers and sellers too who can complete nearly anything needed with a smartphone. Technology can and should vastly increase response times, streamline updates and protect your confidential data.
3) Max ROI. Sellers can truly benefit from agent who use technology to its fullest extent in marketing. Quality virtual tours, websites that load quickly and don’t deter buyers, disclosure downloads that capture leads, social media ads targeted to YOUR prospective buyers… anytime you integrate technology into human strategy you are using the best of both worlds to get the biggest impact in your world. And THAT is what counts.
While today we have touched on the fact that real estate has and will continue to be a human-based business, we haven’t talked about the importance of which human! If you know us, you already know you can trust us to walk you down your real estate journey with the same care we’d apply to our own families and finances. If you don’t know us ~ we’d love to change that! Please give us a call and we promise to answer any of your questions about the arenas of technology, real estate, home, family and all the ways in which they collide for the better.
Let's talk soon,
Mark & Sarah
Resources Used:
Why Relationships In Real Estate Still Edge Out Technology And Data