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#463294 - 01/13/19 12:11 PM Re: Future of Real Estate [Re: DJM]
Granta Omega Offline
Member

Registered: 05/01/15
Posts: 182
Loc: Dallas, TX
I think the problem is in 2006, I was 19, and all the agents that had trained me were at least in their 50s, some older. They were saying knock on doors, go for the FSBOs, read the paper ads, pay to put an ad in the paper, give out your business card.

The problem is, people aren't looking for a realtor anymore. They are looking for a house. They use the agent they happen to stumble upon when inquiring about it, and being the first agent that contacts them when they have the internet at the palm of their hands is very unlikely.

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#463554 - 02/12/19 12:19 AM Re: Future of Real Estate [Re: DJM]
Airpropty Offline
Junior Member

Registered: 01/07/19
Posts: 2
Loc: Auckland, New Zealand
I agree with ALSTIEL. Good Agents can't be replaced by technology..

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#463572 - 02/15/19 02:55 AM Re: Future of Real Estate [Re: DJM]
HIRED Schools Offline
Junior Member

Registered: 08/13/18
Posts: 4
Loc: United States
Technology can be helpful in some way but what a real realtor tells you about the property, no one can. Real estate is still growing career.

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#463674 - 02/26/19 08:55 PM Re: Future of Real Estate [Re: DJM]
Photog Offline
Member

Registered: 02/25/19
Posts: 15
Loc: USA
The job of Realtor is going to disappear, just like the long haul trucker will, and the blacksmith has.

Real Estate will be bought and sold remotely via photos, videos, and VR. 1 central office Realtor will replace 10 or 20 traditional Realtors. Sellers will conduct their own open houses and showings unless they are selling a remote vacation home. So pay a fair price for professional photography.


Edited by Photog (02/26/19 08:57 PM)

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#463688 - 02/28/19 06:56 AM Re: Future of Real Estate [Re: DJM]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2392
Loc: Outer Banks
I have been selling real estate for a long ttime. I have 21 real estate websites that have been the backbone of my business. I hire professional photographers and use virtual tours to promote our listings and yet these professional photos and internet advertising have never helped any of our listings sell faster or for more money than those listings with cell phone pictures.

Pictures don't sell houses, agents do. Professional pictures help get sellers. Buyers are never going to be willing to buy houses without touring every house for sale. Zillow thought they were going to put real estate agents out of businees, like they did to travel agents with expedia, but they are coming to the realization that buyers are not going to buy houses sight unseen. This is why zillow is now opening real estate brokerages with real live real estate agents.

No matter how much you hate real estate agents, we are not getting replaced by the internet.






Edited by Bigtoe (02/28/19 06:58 AM)
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#463698 - 02/28/19 07:50 PM Re: Future of Real Estate [Re: Bigtoe]
Long Walk Offline
Member

Registered: 06/27/08
Posts: 381
Loc: New Hampshire
Originally Posted By: Bigtoe
No matter how much you hate real estate agents, we are not getting replaced by the internet.

Ten ring!

I read a quote in 1999 or early 2000 from the CEO of a large start-up internet brokerage, maybe it was Redfin, but it doesn't matter. The CEO said that brokers would never be replaced by technology because brokers are the emotional ballast in the transaction.

Nothing I saw before or since has convinced me that he was wrong.

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#463704 - 03/01/19 03:56 PM Re: Future of Real Estate [Re: Photog]
Z06Fanatic Offline
Veteran Member

Registered: 08/06/16
Posts: 512
Loc: US
Originally Posted By: Photog
The job of Realtor is going to disappear, just like the long haul trucker will, and the blacksmith has.

Real Estate will be bought and sold remotely via photos, videos, and VR. 1 central office Realtor will replace 10 or 20 traditional Realtors. Sellers will conduct their own open houses and showings unless they are selling a remote vacation home. So pay a fair price for professional photography.


If that was true the 5-6% brokerages would be dead - they're still thriving for a reason. Anyone can take pics and post to MLS - the reason Agents exist is once the offer comes in. There's too much emotion between both parties to get a deal done without Agents - it's hard enough sometimes with Agents so imagine if the Buyers and Sellers worked directly.

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#463722 - 03/05/19 09:56 AM Re: Future of Real Estate [Re: DJM]
Granta Omega Offline
Member

Registered: 05/01/15
Posts: 182
Loc: Dallas, TX
I don't think the job of the realtor will disappear completely. They're still going to need people to carry out a lot of the work, but it is possible already to start creating different web applications that can generate the purchase agreements for the sellers based on a set of entered criteria, and given they are using the Zillow estimates now to get their home's value, there are also going to likely be more sophisticated services that have more side by side comparisons such as differences in home characteristics.

It's gotten more unlikely though that a newer agent will be able to break into the market, and when the internet was newer, buying leads was considered a waste of money and yielded very few results, but now buying leads is pretty much necessary unless you join a team that will hand you leads.

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#463736 - 03/06/19 09:19 AM Re: Future of Real Estate [Re: DJM]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2392
Loc: Outer Banks
Paperwork is not part of the equation. I have all the forms available on one of my sites and it just scares them into using an agent. it might have been possible back in the days of the one page contact but now the 20-30 pages of paperwork needed to sell a house is too much for most people.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#465424 - 07/15/19 07:37 AM Re: Future of Real Estate [Re: DJM]
Joyti Sharma Offline
Junior Member

Registered: 07/15/19
Posts: 1
Loc: Haryana, India
The Future of the real estate seems to be bright.

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#465458 - 07/17/19 12:28 PM Re: Future of Real Estate [Re: DJM]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2392
Loc: Outer Banks
The future is so bright, i have to wear shades

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#465830 - 09/09/19 02:18 AM Re: Future of Real Estate [Re: DJM]
CREBuyer Offline
Junior Member

Registered: 09/09/19
Posts: 5
Loc: AZ
I think Real Estate Brokers will still be around for awhile. The ones who will disapear will be mostly in residential since many of them just get a listing and then put it up on all the property websites/do open houses.

Investment real estate is much more complicated and requires knowledge of P&L's, rent rolls, cash flow analysis, etc. to determin the value of a property. It also isn't as effective as residential to market it publically but needs a more focused marketing style since the large majority of people are not qualified to purchase such properties and fielding their calls from Loopnet takes up more time than its worth. - my opinion as an investment broker with 6 years expierence (I've never sold a house in my life but I've done $34m+ investment property deals so I could be wrong about residential as I am not that familiar with it)


Edited by CREBuyer (09/09/19 02:18 AM)

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