Even when you think there's a strong chance that real estate agents will be out of work, I assure you that's not going to happen.
Real estateagents are highly unlikely to follow the path of the Caspian tiger or the Guam flying fox in the near future. Even so, it seems likely that demand for real estate agents will decline in the next decade. In fact, the writing is already on the wall.
If real estate agents don't break up and don't find ways to offer value, technology will disrupt them and render them useless. For those who are serious about a long and prosperous real estate career, UPNest offers a technology-savvy platform to streamline the process of getting home buyers and sellers who are ready to act. Smart contracts on the Ethereum blockchain could probably be used for some basic procedures, such as initiating security deposits, inspections, escrow services, and more, but it's hard to imagine that these things could be fully autonomous without the supervision of a real estate agent. Real estate agents began to focus more on videos or 360-degree tours, and to produce valuable content that allowed buyers to view more properties than when searching for themselves.
Connect with an investor-friendly real estate agent who can help you find, analyze and close your next deal. Real estate groups are one of the most powerful, best-funded and impactful in this area, although this may not last forever. But the thing is that saying the real sale is just a small job, this small job among thousands and thousands of other things that real estate agents do well. For more than a century, Americans have relied on real estate agents to help them buy and sell properties.
I think the real estate industry is ready for technological disruption, but I don't think agents will become obsolete. So, with the technology here to stay and the relative ease of communication that comes with living in the modern world, are real estate agents going to be fired soon? Let's dive a little deeper. Merrifield Real Estate is one of Albany's oldest and most successful real estate companies, since the company was established in 1934. Too many contingencies and problems in a real estate transaction that could go wrong and require specialized remediation techniques to be significantly disrupted by technology. Join BiggerPockets and get access to real estate investment tips, market updates and exclusive content via email.
A lot of people want to escape 9-5 for easy money and real estate is one of the first places people go. Even so, this technological shift in the real estate industry is likely to be one of the biggest and most impactful to date.