In this day and age, wherein real estate information is so accessible to consumers, do we really need Real Estate Agents? Spoiler alert: Yes, we still do.
Having the privilege of interfacing with a lot of agents throughout the day, one can't help but notice that there is are rumors (both serious and jokingly) that might suggest that real estate agents are becoming obsolete - being replaced by the latest and greatest technology portal.
In one of our previous blog posts we covered some of these rumors but for today's post, I'd like to give my two-cents as to why real estate agents can't be replaced so easily by technology.
REASONS WHY REALTORS ARE STILL VITAL
Strong connection to the community
I observe a lot of top-producing agents and most all of them are active in their community. They are partners/members in their homeowner's associations, they are participating or sponsoring events in their kids' school, etc. They make sure to maintain strong connections with other people.
A great deal of homeowners are not tech savvy.
A considerable number of homeowners are not really technologically savvy. Most of them still prefer talking to a human being and having that agent-client relationship which can facilitate an emotional connection.
Sure, I understand that most of the older generation might have an iPhone and can navigate technology surprisingly well, but this doesn't prove that they are willing to jump into a technology solution that would replace their realtor.
Homeowners consider buying or selling a house as an "EMOTIONAL TRANSACTION".
Most homeowners are very emotional with regards to buying or selling a house. Having to give up a house full of irreplaceable memories where you raised your children and built a family -where you've grown to love - is very emotional and that again is something that technology can't replace.
The ability to build rapport
It is essential to build rapport with your client because through this you'll be able to know their wants and needs and how you'll be able meet their expectations. It's something that Artificial Intelligence won't be able to deliver.
The ability to cultivate trust
This ability can only be done by Real Estate Agents. Why? Because being able to build connection requires complex emotions rather than automation.
The ability to give creative solutions to complex problems
There are specific problems that can only be addressed by a real estate agent.
Artificial Intelligence hasn't reached the point where it can efficiently and accurately tailor fit its communication to solve specific problems. Having to deal with different clients with different requirements and dilemmas, an A.I. solution won't be able to solve problems which are truly unique to the specific clients needs (especially their emotional needs).
In spite of everything mentioned above, technology progress is inevitable.
We see renewed fear about uprising technology tools and the implications they hold for the future of real estate agents. But, instead of panicking that machines or artificial intelligence might replace them, we should use this in our advantage.
Real estate agents should leverage technology to help them work more effectively and efficiently. With the right attitude, goal-oriented mindset and excellent skills set? I don't see agents getting replaced by discount brokerages, or discount transactional portals where there's no real human interaction.
In terms of realtors being obsolete, I don't see that happening any time soon.
I'm open to discussion about this matter though; let me know what you think by sending us an email thru firstname.lastname@example.org - I'd love to hear answers or opinions from agents, sellers, homeowners and buyers. Maybe I can use those discussions for my next blog about how to handle objections at this point.
Continue to give value
I hope you guys find this post helpful and just keep working on those leads or deals and give value to what you offer - remember this as our best asset in what we can bring to real estate. See you guys soon!
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