Disruptive Technology: Saving Money In Real Estate
Saving Money: Disruptive Technology In Real Estate
Over the last decade, new technologies have brought about many “disruptive” innovations that have resulted in tremendous changes for the industries they’ve affected.
New emerging technologies are revolutionizing our world, and along the way will inevitably render many industries obsolete. Consider how digital content took the place of Blockbuster and Uber, who is changing and challenging the taxi industry.
Airbnb has disrupted the hotel and tourist industry, and now the real estate industry has also become vulnerable to information-driven disruption.
Diminishing value has hit the real estate industry. With online resources like Zillow, Redfin, and Realtor.com, there’s less need for a real estate agent to provide consumers with information that is now readily available to them online.
The shift has taken place and there is pressure coming from consumers, why pay 6% commission when you can list your home for less. Ten years ago real estate agents were the gatekeepers to all things real estate, but now that consumers have access to that information.
The role of the real estate agent has become that of the trusted adviser. The need for real estate agents that don’t provide anything of true value is diminishing...