Technology has been changing the face of real estate for the last decade, but has the trend to use a real estate agent diminished as a result?
Research says no, with 87% of homebuyers purchasing their home through a real estate agent in 2015, versus only 69% in 2001. So why is the trend to use a real estate agent growing when the ease and access to information is readily accessible to buyers? Well, a few reasons.
1. While technology is streamlining agents’ jobs and buyers’ options, it’s also serving as an important reminder that only so much can be done without using the skills of a licensed real estate agent. With competitive markets and online bidding becoming increasingly common, having an agent represent you is more necessary now than it ever has been before.
2. It’s making clients’ more knowledgeable, and thusly increasing their expectations. The drive for good real estate agents to become great real estate agents has never been more competitive.
3. The transparency of the Internet exposes ALL that goes into the buying or selling home, and can often be very intimidating to buyers and sellers. From financing options to staging, showings, option periods and closings, it’s never been clearer that the process is an intricate one, and deserves the guidance of a professional.
4. The advancement of technologies real estate agents use to do their jobs has streamlined significantly. Agents are able to balance more back-end work at once, while keeping up with increasing numbers of clients.
Overall, technology has been very good to the real estate industry and the professionals that work in it. Barriers to information have been broken down, accessibility has never been easier, and both clients and agents are becoming more informed. What’s not to love about that?