Real Estate Technology - Get Rid of Real Estate Agents for Good?

Real Estate Agent with Absync Realty

Reflecting on how far real estate has come in recent years, I want to share with you some insights to the past and some opinions (yes, personal opinions) about where we are going. 

 In a recent seminar, the presenter spoke about a presentation he hosted in Italy.  He talked about how antiquated their MLS system (or lack there of) is.  They are still on a paper system, yes, as in chop down trees / paper system.  There is no such thing as an MLS or a, Trulia or Zillow.  How many of you remember those days?  I certainly do not.  With the technology available today it seems an incredible injustice to both buyers and sellers to limit the speed at which information can be accessed.

 Let's face it, we live in a fast-paced world.  Last week, we took on 2 new listings and within 2 days on the market, both were under contract.  This is a scenario which is great for both the buyers and the sellers (ok, we didn't complain either).  Would this have ever happened in the old paper system?  Absolutely not.  Actually, no one would have even know the homes were on the market in the first place. 

 Lucky for us, we're not Italy.  Clearly technology has played a huge role in streamlining transactions.  According to the National Association of Realtors, 74% of people use the Internet to search for a home.  I actually think that number seems a bit low.   Consumers are on third-party sites in droves looking for homes.  The number of sites available to the public is substantial.  The business of getting people to websites and the selling of lead information is cut-throat.  Some have been successful, most have not. All smart phones and tablets have apps to facilitate the process as well.  Some will even notify you of a nearby open house.  Very slick!

 The major issue with any third party site is their ability to get the most up-to-date data from the MLS.  I cannot tell you how many phone calls I have received from excited potential buyers about this "hot" property with a great price that is showing up as active on the third party sites.  My end of conversation usually goes something like this.  "Wow, that is a fantastic deal.  Unfortunately, it seems as though someone already has that home under contract.  Where did you see the home for sale?  Oh, Trulia (or any other website), ok.  Unfortunately their data is not always up-to-date, but I can put you on my personal notification list, so you can literally be notified as a similar home comes on the market." 

It's never fun bursting anyone's bubble, but the reality of today's technology forces me to.  Great deals do not just sit on the market for a long time.  They happen quickly.  Given today's technology, people still need a cutting edge Realtor to find the best deals for them. 

So, back to the big question.  Do I think real estate agents will go away forever?  No.  As time goes on, the third party sites will need to figure out a way to get better data.  I know this will happen eventually, but finding the right home for a potential buyer is only a small part of a Realtor's job.  The video below says it all.  



Real Estate technology is a constantly and rapidly evolving business.   We now have the ability to run a completely paperless real estate business. whether it is searching the MLS online, third-party websites, or even getting electronic signatures, technology has certainly made our lives easier, but it will never replace the professional, not in my lifetime anyway. 


Comments (3)

Joe Harvey
Lake Worth Real Estate - Lake Worth, FL

Great story Brad!! The same thing is happening here on the East Coast of Florida. Technology certainly is helping to streamline things as you said. I actually bought a house last week that was only listed the day I made the offer on it and saw it on I actually help agents stay up on their technology as we have built a platform called appsbar for agents to make mobile apps for their businesses for free and over 70 AR agents and brokers have done so in the last two weeks. I will give you a link to make a free app for yourself and let me know how you like it. I will get it published for yuo right away.



Sep 21, 2011 05:01 AM
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Well said...we are in the time of "no time" in "always time", which means no one is ever "off".   Technology is our friend.

Sep 21, 2011 05:34 AM
Brad Dohack
Absync Realty - Fort Myers, FL

Joe, Started to set one up.  No category for real estate?


Li, that's exactly right.  The key figure out what ways can we generate leads while we're at sleep during the night.

Sep 21, 2011 05:46 AM