In looking at the general approach to the real estate business, it has become clear to me that there are numerous models that aim to discount the services of real estate professionals throughout the country. Although I have only been in the real estate business for 7 years, I have seen more and more discount brokerages and models pop up. I have experimented with some of these models myself and it has really helped to frame my perspective.
So are listing agents replaceable with technology? Overall I have found that majority of do it yourselfers who experiment with FSBO services are experienced sellers who have previously purchased real estate. These consumers come with varying degrees of understanding about the process and the market, but they fail to realize they may be making the most important financial decision of their lives without consulting an expert in the field. The best analogy I can think of is self representation in a legal case involving a lawsuit. I know many sellers may not look at it this way but selling a home comes with inherent liability, especially if you don't know what you're doing. The point is, FSBO sellers are not playing on a level playing field with real estate professionals.
The thing that gets lost in a lot of these FSBO services is the fact that real estate agents exist because we are the experts in the field and have been through the process hundreds of times. Statistics show that FSBO listings sell for less on average and take longer to sell. You would think that this would be all the proof home sellers would need but the FSBO model lives on. Although the Internet and technology have made it easier for sellers to sell their homes, the need for listing agents is still robust.
There is no doubt technology has transformed the industry but I believe it has had more positive effects than negative. The most significant impact I see is the ease of listing syndication on the internet and to mobile wireless devices. These types of advances have made it even easier for listing agents to stand out from the crowd and showcase listings like never before. Technological advances are rapidly changing our industry but the onus is on all of us, to utilize these advances and increase the level of service we provide to our customers.
Happy Selling!
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