Monday, February 21st 2021: Will Technology Replace Realtors?
ARE REALTORS GOING TO BE REPLACED AS TECHNOLOGY EVOLVES?
This is a question I get asked all the time. And honestly, it’s something I worried about when I first became an agent over a decade ago. Companies like Zillow and Redfin are trying to convince us that Realtors are becoming outdated in today’s market. But the truth is, that just isn’t the case.
Not only are Realtors still in high demand (in 2016 88% of buyers worked with an agent1), people are more likely to work with an agent than they were 30 years ago.
I’m happy to report that after years of working in the industry, I’m confident that regardless of advancements in technology, Realtors will always play an important role in helping people buy and sell homes.
In an extensive research study about today’s buyers and sellers, Zillow found that “while [the average shopper] may incorporate online research, they tend to be hands-on at decision time, preferring to meet an agent in person or talk on the phone, and prioritizing private tours of homes led by a professional2.” That means, that according to one of the very technologies I was worried about making me irrelevant, buyers value a human relationship with an agent.
Technology won’t be replacing Realtors any time soon, but it has changed how agents do business. It’s important that agents stay up to date with technology to meet their clients’ needs. But they can use that technology to improve their business rather than fearing it replacing them. The majority of buyers use Realtors, but they begin their searches online and are more educated than ever. Homebuyers want an agent who they can turn to for reliable advice. A top priority for most buyers is an agent who is trustworthy and responsive to their needs.1
As I’ve worked with many clients over the years, I’ve realized that they’re in the process of making one of the largest financial decisions of their lives. They want to have someone by their side to help navigate the transaction. Of course they take advantage of all the available technology, but they want someone there who is going to help them. And that relationship is something that technology will never replace.