I've heard stories about real estate agents' reactions to the internet during the early part of the millennium. Some say they thought the internet was a fad and would not be a huge impact on the industry. Others later felt that it would make real estate agents non-essential to the purchase of a home. In the 80's, real estate agents were the gatekeepers to listings of homes. As listings became available online, this put the power back into the hands of the consumer. The lingering question at the time was how this new sharing of data would affect real estate agents, buyers, sellers, and other related industries.
We can now comfortably say that yes, the sharing of data via the internet had a substantial impact on the way we do business, but it has not replaced the necessity of a good buyer or seller's agent. In fact, it has made agents step up the way they do business. Now, we must help point our clients to resources, decipher information, and stay on top of the transaction even more. Since buyers and sellers are more informed, they can validate the information you are giving them by simply logging on. Since sellers can now sell their homes online, this also makes agents justify their commission and earn it.
Many of us are forward-thinking when it comes to technology since there are many new tools that help us create a smooth, efficient transaction for our clients. As we move forward, many real estate agents realize that they need to adapt or become extinct.
Read the Inman News article on internet use by home buyers. The survey was sponsored by the National Association of REALTORS®.
Comments