Are Tech Platforms Replacing Traditional Realtors?

There are tech platforms for everything these days and they are replacing realtors every day. Need groceries? Order them. Want to watch a movie? Stream it. Need someone to talk to? There are very convincing chatbots on the app store. But as you might gather from that last example, not every solution is all that good.

In fact, some technological solutions are far less efficient than the real thing. This is the perspective many people take on cryptocurrency—it sounds like money with extra steps. 

Are Tech Platforms Replacing Traditional Realtors?

However, when it comes to real estate transactions, one has to wonder which is more efficient: On the one hand, you have normal real estate transactions. You start by calling a realtor; you look at the properties they offer you, and then maybe you tour a few of them in person. 

But on the other hand, consider how it could be done on a computer. Instead of a realtor providing you a list based on preferences that they talk out of you, all you need to do is fill out an online form to get a list. From there, you can tour the properties digitally like in Google Maps.

Which of these is better? Well, it is probably pretty easy for you to decide your preference just by imagining going through each process. But let’s get into the details deeper than the superficial. But there are some strict benefits and downsides to each.

The Pros and Cons of a Realtor App or Site

We are going to talk about this one first, as realtor apps and sites have seen an explosion as of late. This boom in the real estate market has not been entirely natural, however, and part of it is due to real estates sales tech solutions diluting the market.

Pros:

Let’s get the good stuff out of the way. The name of the game with realtor apps and sites is convenience. This is the advantage offered by most tech solutions to non-tech problems. 

The convenience offered in this case is a mix of a dating app and Amazon. You can shop for properties one at a time, gingerly swiping through them, trying to find one that steals your heart. Or, you can get a list and sort by price, location, and many other factors. 

This means that not only are these apps and sites convenient, but they are convenient in a way that suits your method of taking in information. Not all of them have these features, but most do. And of course, they can do digital tours of properties and ask questions over text.

Cons

But there are two major problems with these tech solutions. The first is obvious to anyone who has used an in-person realtor to buy property: You cannot negotiate with a machine. This is a problem many banking tech solutions face as well. How are you supposed to ask for an extension on a loan when you have never talked to the same person twice about the loan?

By necessity, everyone you actually talk to has to act as robotic as possible, as they cannot make you any promises outside the first and final interaction you have with them.  

That, however, is not the genuine issue with realtor apps. That is just what most people will notice bothers them. The reals issue is more sinister. The genuine issue is that there are major corporations—billion-dollar corporations—using these apps at the same time. 

While convenience means that most people can get a lot out of a realtor app in a short time, it means that a corporation with billions of dollars to spend can write a bit that systematically buys all the property for sale in the country. We have bought millions of acres of land this way. 

That means these apps have you competing with literal billionaires for products.

The Pros and Cons of Real-Life Realtors

Part of the reason we started with realtor apps is because they are so prevalent that they have essentially redefined the paradigm of real estate buying.  Therefore, most of what is good about using a real-life broker is that it avoids the issues of using a realtor app filled with bots.

Pros

So, while we are on the topic, let’s talk about why that is a good thing. By using a real-life broker, you can be sure that you are a normal sized fish in a normal sized pond. If you have only ever used real-life brokers, then you might be surprised what this does to property prices. 

Aside from avoiding billionaire competition, you also get a better tour of properties. This allows you to get a better idea of how the property feels. Does it smell? What are the ambient noises like when it is quiet? A 3D camera rolling through an apartment cannot show you these things.

Cons

There are drawbacks too, of course. Where a realtor app will never take an attitude with you, it is always possible that your real-life realtor is a jerk. Touring a property on foot takes time. And perhaps worst of all, you might still end up running into aspects of the experience that are affected by the prevalence of billionaires in the real estate market. Some tours cost money. 

And not just money; you basically need to make a full payment on a house in order to even be given a tour. This is not nearly as much of a problem on a realtor app, where the value of a tour is not as powerful by it being all digital. 

Conclusion

There are some serious advantages to using a real-life realtor over a tech realtor solution. Real-life realtors are not great, but they give you a chance to dodge the bullets in the real estate market. Tech platforms may not be replacing real life realtors after all. More info is available at Teifke Real Estate`s website.