Technology has been a wonderful addition to different industries, making life much easier for many. It has simplified the way we shop, communicate, and even how we learn. The use of technology has also disrupted how certain jobs are carried out and who carries them out. It has replaced people in certain fields such as manufacturing, phone operations, travel agency, and many others. We have moved from newspaper vendors to online blogs, vlogs, and online news. From walking into a store to shopping online and having it delivered. From cashiers to automated teller machines (ATM).
The disruption of technology has equally been recognized in the real estate field. The arrival of the internet has changed how realtors reach out to their clients. It has changed how people search and shop for homes or any property for that matter. Social media has also made it easy for estate agents to attract and engage with their clients. The automation of certain processes has left many anxious about the fate of their jobs, particularly realtors all over the world. The fear is that technology will take over the livelihood of real estate agents.
A realtors main job is to help people buy, sell and rent homes and other types of properties. Realtors also aid with property searches, listings and viewings. And to do this he/she should possess certain skills such as communication. Real estate agents are expected to have strong communication skills because they spend a substantial amount of time speaking to people. This could be asking clients questions, engaging with other agents or building a network with other professionals. They have to do a lot of talking. Communication goes hand in hand with listening. Realtors need to be good and active listeners for them to have a better understanding of client needs.
Negotiation is one of the core duties of a realtor, therefore making it important for realtors to have good negotiation skills. In most transactions realtors find themselves haggling over the listing price, selling price, or commission. These negotiations are based on the current market and the property condition. A realtor should be able to see the deal from both sides and make wise decisions on behalf of the client.
Patience and integrity are similarly significant skills that realtors should have. Selling and buying property is not a one-day job. It takes a lot of time and effort to get both parties to agree to the terms before they sign a contract. While integrity is about being honest and good ethics. Property involves large transactions and everyone wants to have a certain level of trust when dealing and spending large sums of money.
It is always key for realtors to be familiar with rules and regulations relating to property along with having local knowledge. Their ability to understand the market to know which target a piece of land or property is suitable for is the reason they have been necessary for many during the selling and buying process. This can be based on the zoning, location, or cost among others.
With all these skills and roles technology has found its way into the field. Through the use of the internet, it has accelerated the exchange of information for agents and customers. Today many tasks can be automated. Data is easily accessible, making clients more knowledgeable on the topic. Technology allows clients to narrow their searches significantly, helping them narrow their most important criteria. Information such as sales data, 3D virtual tours, videos, demographics, and crime statistics are readily available.
Although some of these tasks are automated, the likelihood that an agent would be replaced completely by technology is low. Why? well as much as technology is a great addition to the real estate industry, certain skills cannot be carried out by a computer. The reality is that real estate is mainly based on human connections and transactions.
The truth is people will always need someone to aid them, someone to show them the ropes and how they function. The digital age can make things easier and better, but technology cannot provide emotional support to customers when deals go wrong. It cannot negotiate on their behalf. Technology can be used to collect data and analyze it however this data is meaningless without someone to translate it and use it to reason.
Technology does play an important role in real estate transactions. However, this does not imply that the realtor’s job will be swept away completely. Knowing that the impact of technology is here to stay, the real estate agent is left with the responsibility of embracing these changes rather than trying to fight them off. It is best to use technology to their advantage and become tech-savvy realtors.