Alexa-Sell My House! Can you imagine Alexa or Rambo( A Robot) doing the job of a real estate agent of buying or selling the most prized possession of your life-Your Home? A 2013 study conducted by the Oxford University suggested that AI has a 98 percent chance of replacing real estate agents. Would you really believe this or at least be convinced to an extent? How many of us believe that involving a real estate agent in the process of buying or selling a house will be a thing of the past?
To answer this question, let us first understand the real estate industry better! It goes without mentioning, the real estate industry is one that relies and trades on trust and goodwill. A home is the most valued asset in one’s life and something that has the maximum emotional attachment. For many of us it could be the first ever, the most expensive ever, the most thought over decision of our life. It also goes without saying that the purchase or selling of a home involves one of the biggest financial transactions. House-hunting and shortlisting the most suitable home for yourself, running back and forth to government offices for different legalities and handling a thick bunch of legal documents are all a part and parcel of the house purchase exercise. It may sound scary and tedious if you had to do it all by yourself. That is when real estate agents turn out to be saviors and make our job far easier. This big decision demands a human aspect-someone we can trust and look in the eye, someone who’d take us swiftly through the process. The real estate industry has largely become technology driven but it has not yet reached the stage where people could blindly trust a robot for a decision so important and critical.
As far as the future of real estate agents is concerned, “Technology is a Useful Servant but Cannot Turn Out to be a Dangerous Master.” Use of technology is definitely a wonderful addition to the industry but it will certainly not replace the real estate agents.With the most updated and modern technology, real estate companies are trying hard to stay a notch above the rest. Each one wants to portray itself as “Better than the Other.” This industry however relies on the client-agent model. Agents are an indispensable factor and require to be updated with the technology in order to best serve the clients.
One thing technology best does is that it streamlines processes. So an online real estate portal can give you the necessary details with respect to a property or can help you list a property.But it can certainly not negotiate a deal for you. That job was and has always been best done by the drivers of this industry as you may rightly call them-The Real Estate Agents! They add value to the entire process. Let me quote a personal example. The first ever home that I bought for myself obviously through an agent was a hassle-free process. I remember the agent telling me, “The moment I saw your family I knew this house was meant for you and I wanted to crack this deal for you at the best rate”. And he certainly did it for us. This is the human touch you are always looking forward to and technology will never be able to take over it no matter what.
Agents also bring expansive regional knowledge. They are the ones that always possess first-hand information. There are chances we may face a frustrating experience when a property listed on an online real estate site is either misquoted or is already sold-out. Agents on the other hand, are sources of accurate and just-in-time information. Because they are the ones who are out and about in the market day-in and day-out.
To stand out, real estate companies have to do their bit. Train the real estate agents and make them abreast with all the latest policies, legislations and best industry practices. Afterall, they are the intermediaries that first interact with the customers. As much as we all love technology and are totally driven by it, we cannot imagine real estate being anything other than a business for the people and by the people. If you ever contemplate buying a house, you definitely do not want a robot listing out the best prices, specifications, discounts on a home from a presentation. You’re looking forward to someone who will emotionally drive you through the process by making your dream home come alive at a dream price!
THE TECHNOLOGY WE USE MIGHT NOT IMPRESS CUSTOMERS AS MUCH AS THE EXPERIENCE THAT AGENTS CREATE! Check our blog which shows you that 2022-THE YEAR FOR REMARKABLE REAL ESTATE INVESTMENTS