This is probably one of the hottest debates in Real Estate right now, and trends like this could mean looming changes in the market. It will be very difficult for real estate agents in proving their value because home buyers can now easily perform many of the functions that an agent had to do in the past.
The very essence of how the idea is evaluated shifts greatly due to the information and communication potential that technology has brought to us. And what’s worse is that because of the size of most transactions involved, more and more people see their roles as mundane and not really complex, arising to presumed invaluable and unneeded services.
From the adverse introductory, let us get back to the question. Are they really becoming obsolete? Let us learn the basics. A real estate agent has traditionally filled several station and functions:
- Exclusive buyer agent. Some who represents buyers and neither accepts listings nor works in an agency, and functions in conformance with the fiduciary obligation and service to buyers.
- Home-buying/selling process expert. Someone who knows the process of how to buy and sell a home.
- Community expert. Someone who knows the current state of the local market, has knowledge about the living experience in specific neighborhoods, and understands the common features of homes in an area.
- Marketer and salesperson. Someone who displays a house on the market, making it stands out, and attracting interested buyers.
- Negotiator. Someone with extensive negotiation experience that can best represent a buyer or a seller’s interests, and getting the best price while not driving such a hard bargain, avoiding deal explosion.
Like in all professions – continued education and growth are a must. Those agents who don’t understand how the game has changed, and don’t have the proficiencies to offer you great services, are obsolete. But, agents who get it (and they do exist), are absolutely worth it. They have:
- platform of skills;
- years of experience; connections and inside knowledge in the market;
- awareness on the changes technology is bringing;
- openness to new methods of communicating and advertising;
- an appealing approach to selling multiple properties, giving them greater ability to catch the eye of buyers and leverage online marketing; and
- full-time availability to not just display your property to buyers but keep them engaged while building relationships until they’re ready to buy.
These agents will help you purchase from a variety of real estate properties like an office space, an apartment or a condo for rent more quickly, for a better price, and with much less time and effort on your part. A full-service professional with well-trained skills that’s specialized in an industry will never be obsolete.
If you have not decided yet on the answer, just contemplate on this: Would you trust a non-professional surgeon to perform an operation on you, guided by just a ‘how-to’ manual from the Internet? Think about it.