How technology will impact the industry, and why Realtors® are still a necessity

“You sell confidence. Confidence is not easily disruptable.”

Jed Carlson, CEO of Adwerx, said many Realtors® are afraid technology will have a negative impact on the real estate industry. However, Carlson advises agents to “embrace technology,” noting that an agent’s experience is invaluable, despite technological advances that may seem to say that agents aren’t needed.

“The percent of homes for sale by owner is the smallest in more than a decade,” said Carlson. “Always reiterate why you’re there, this is the riskiest financial decision of their life,” he said.

Sherry Chris, president and CEO of Better Homes and Gardens, agreed. She discussed how real estate has evolved over the past decades, and despite changes, agents have always been a necessary part of the transaction. Real estate has gone from the MLS book to an agent-driven industry to a consumer-driven industry. In the past, consumers would need an agent to see homes via the MLS book, while today, homebuyers can go online and see any home on the market.

“Our industry has turned upside down,” said Chris. “Today real estate is a consumer data-driven industry. We can figure out when people want to sell or buy soon. It helps you to determine if your buyer has moved onto a different city. You can track the habits of your buyer,” she said.

However, customer service is still important, Chris added. Consumers today are sensitive to service, socially minded, craving content, diverse and empowered, with multiple generations at play, who are familiar with technology and used to hyperpersonalization, she said.

“We only want content that is interesting to us. We only want properties we can afford and in an area that we want to live in. How you market to the consumer is really important. Technology is a part of our daily life, and it’s an enabler. We carry phones 24/7 and use them for everything,” she said.

Technology will not replace agents, Chris said. “But it will enhance what you can do.”