News sites and real estate marketers have been debating the future of the real estate broker for several years. We bet that in at least one of these articles or lectures you may have heard of an Oxford study, suggesting that several professions are on the verge of extinction among them – the realtor.
The Future is Technology
Rest assured most of these articles are just “click baits” and the content itself often contradicts the title. This is because the seminal Oxford study cites the following motivation:
Our article is motivated by the prediction cited by John Keynes about widespread technological unemployment: “from our discovery of ways to save the use of work, which exceeds the rate at which we can find new uses for work.”
As we see, the main point of the article is technological progress, and this should serve as an indicator for the changes that are taking place in the world. So let’s forget about articles that have titles such as ” Professions as a realtor and arbitrator should disappear by 2025 “ or this ” Technology ‘steals’ more and more jobs “ and focus on technology and the future !
The secret that no one speaks (or speaks after you watch a 15-minute video …) – the profession of the realtor will not end! It has undergone profound changes since 2008 and will continue to suffer greater and greater impacts. One of these reasons is the ” industry 4.0 ” or ” fourth industrial revolution ” which in very general terms is the increased use of automation and connectivity technologies, check out more here .
Use technology to your advantage
“… Technology develops cumulatively, not in isolated heroic acts, and finds most of its uses after it was invented, rather than being invented to meet a predicted need.”
– Jared Diamond, Guns, Germs, and Steel
Do you remember how we were looking for real estate in 2007? Newspaper ads, easels and pamphlets were the rule, today they are the exception. Today the internet has become the new rule.
Currently it is unanimous, when we are going to advertise we think of – sites , real estate portals , Google Ads, Facebook , boosting on Instagram and georeferenced ads on Waze .
Speaking of real estate portals, ten years ago there were about three real estate portals in Brazil, today they are countless and each metropolis, macro-region, micro-region and even small cities also have their own.
Adapt to changes
It is necessary to change
The real estate sector traditionally rated as obsolete was one of the sectors that saw the most changes due to advances in automation and new technologies, such as AI and Block chain.
New technologies bring the opportunity to combat known inefficiencies in the real estate sector. As a result of these changes, brokers will need to adapt or risk being left behind by the competition.
Using these technologies, anyone can quickly understand market conditions. Being able to use free online pricing tools, reviewing the advertised homes and those that are for sale online without the help of a broker.
Provide help to your customers.
Therefore, the broker needs to be more than a seller or exhibitor of real estate, he must demonstrate the attitude of a real estate consultant who provides help to clients. You must use your expertise to understand industry standards and consider customer needs first. Generating buyers (and sellers) who will be relaxed about the business they are closing and able to be promoters of their services.
Technology does not steal your work, it allows you to focus on what really matters!
Despite the revelations pointed out by Oxford research and Keynes’ “catastrophic” predictions about technology, the employment of brokers is not threatened. However, they are expected to transform according to the market and will be shaped to the extent that their work can help buyers and sellers in negotiations.
Focus on what really matters
What is this help?
- Understand customer needs.
- Focus on helping customers.
- Be a business consultant and not a real estate exhibitor.
- Be knowledgeable and authority of your market.
What stopped being the broker’s job?
- Search for properties for clients
- Provide only information about properties (rooms, location, price)
- Perform property value estimates
- Schedule visits
- Search for properties by segment or location in person
The future of the realtor is promising!
The future of the real estate sector will continue to be driven by new technologies, customer relationships (and other brokers) in addition to demographic changes.
Real estate players who want to achieve and maintain success will need to learn to live in the midst of these changes.
With new systems designed to speed up the journey of buying the property , websites for quality brokers and real estate agents that result in more informed buyers and the new age groups that enter the real estate market, it is evident that the sector is undergoing major changes. When it comes to the future of the real estate industry, everyone has a lot to expect and hope for its success. Especially for us who are part of this niche and look forward to the future.