Many industries expect an uncertain future, and you might be wondering if real estate agents will still be around in a world that will greatly rely on digitised solutions.
Over the past few years, there has been an increase in private property sales, thanks to sophisticated and user-friendly online listing platforms that make it easier for private sellers to market their properties. This trend will most likely increase in the future as further technological advancements and solutions develop.
So, does this mean that real estate agents will become obsolete in the future? Although the real estate industry will most likely become more competitive and unpredictable, there will always be room for human connection. Just like many people do not like automated customer service, and prefer to discuss their issues with a human representative, the same will most likely be true when it comes to real estate agents. The key to staying relevant in the future will all depend on adaptability, innovation, as well as the ability to form real human connections in a digitally connected society.
- It’s all about relationships
Nothing is more important than your ability to form relationships with a wide range of people to be successful in the real estate industry. People are more likely to do and refer business to people they know, like, and trust. The key is to get to know people in your communities, to care about their needs, and to make an effort to get involved in community activities. Everyone you know will eventually need to buy or rent a place, and if they know you, the chances are good that they will send business your direction.
- Keeping up with technology
Staying current and relevant is important if you want to succeed as an estate agent in a changing world. Technology is constantly evolving and is also affecting the way in which real estate agents are conducting business. Automated deal acquisitions, property management and communication are just some of the areas that will become more advanced in the future. Currently, there are many apps available that are transforming the real estate business. For example, apps that allow potential buyers to access hundreds of properties with the click of a button, or allow them to do secure and efficient transactions. Adopting these technologies can help you attract more tech-savvy clients.
- Why the world is not your oyster
Bigger is not always better, and this is especially true in real estate where agents often think that they need to expand their portfolios to be successful. Being visible and active in one area is often enough to help you build a successful career. People value the communities in which they live as it gives them a sense of belonging. When estate agents are visible in their communities, and people recognise you as one of them, they recognise your value and expertise and are more likely to seek out your input. Although online listing platforms may broaden people’s horizons in the property market, it will be hard to replace a familiar face.
At Meridian Realty we offer support, tools and resources to ensure that our agents will thrive in the future. Connect with us to find out more about our forward-thinking model.This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your adviser for specific and detailed advice. Errors and omissions excepted (E&OE)