Why Technology Hasn’t Made Real Estate Brokers Obsolete

This is a great little article in Inman news about the role that Real Estate agents/brokers play in the home buying process and why they are still and will continue to be around for the foreseeable future. It also discusses the significance of the discrepancy of age between the average buyer (35) and the average real estate agent (57) and their respective adoption (or lack thereof) of technology. Which is a BIG deal on both the buy side and the sell side. You want to work with an agent who not only knows what Pinterest and Instagram are, as well as why Pinterest is better than Instagram to reach your target home buying audience..

Full article here:

NAR’s 2013 member survey found the average age of a Realtor to be 57 years old, yet the average age of homebuyers was 35. Age certainly does not dictate your technical prowess, but it is fair to say that many in our industry have seen themselves dragged into this new information age kicking and screaming.

They have hardly adapted their business model from what worked in decades prior, and they have essentially done the bare minimum required to keep their business functional in terms of technology. Forget optimized landing pages, drones for virtual tours or a social media mix being part of your business plan — these agents do not even have email set up on their phone.

We all know these agents, and most of us work with a few of them. Few agents will look you in the eye and say that the industry does not need to do a better job as a whole in adapting to changing client expectations, mortgage regulations and technology. The industry will do these things, or the industry will suffer the consequences.

Where does this leave us? Is an online auction model the way to go, as the author seems to suggest? Do agents go the way of the dodo bird?

– See more at: http://www.inman.com/2014/04/11/can-you-explain-to-buyers-and-sellers-why-technology-has-not-made-real-estate-brokers-obsolete/#sthash.Va8JhRTa.dpuf