THE FUTURE OF REAL ESTATE ?!?

Question

As we all know, technology is advancing at a record-breaking pace and there is no slowdown in sight. How will that affect our industry? The way people buy/sell? How will it affect Agents??? Will the process be so streamlined through new apps and websites that Agents are not needed?! Not right now, but perhaps in the next 5-10 years...

I would love to hear the community's thoughts on these websites (and any others) that are shifting the way people are buying/selling/shopping homes and how that will affect all the players within the industry in 2017, and into the future:

http://www.reali.com/

supporting article: http://www.digitaltrends.com/home/reali-real-estat...

https://www.opendoor.com/

supporting article: FORBES

https://www.crelow.com/

Happy Holidays BP

Account Closed · Answer

@Alex Capozzolo -

Good post man!  I'm actually really excited about these changes as the real estate process needs a complete overhaul.  It really is quite archaic in a lot of regards.  There is so much that could be streamlined and that would help alleviate and reduce transaction costs..........which are absurdly high.  (think about transaction costs for stocks, bonds, options, commodities)

In my opinion, all of these changes are highly beneficial for investors..........now for pure realtors??????

Alex Capozzolo · Answer

Account Closed Thanks ! A good way to keep up with new and upcoming real estate tech companies is to set up Google Alerts.

https://www.google.com/alerts

^ from here, create an alert for "tech real estate", and receive daily updates on this evolving industry that will potentially drastically affect the way we do business in the future

John Mathewson · Answer

Love and hate relationship with technology. Hate that you can never predict what is going to be the next big thing or what will catch on or not. Love using the tools though that make our lives easier.

Rob Gillespie · Answer

Alex,

Technology has MASSIVELY changed the market so far!

When I started, I had no email (it did exist, but no one used it) I had a roll paper fax machine and a cell phone that was $1 per min! LOL

When I was trying to find a house to buy or I was selling a house, I used the good ole fashioned news paper. Then along came craigslist!

Craigslist is now completely molested my investors and ballroom grads that took a boot camp class and are selling properties they don't even have under contract! LOL

I would say half of the houses I call on craigslist are not owned by the person listing them.

So in short, yes the market will continue to change, but I will change with it and will help all of my team adapt too. We cant change the rules of the game, but we can always use them to our advantage with the right experience. :-)

Alex Capozzolo · Answer

Thoughts going into 2017?