Let's predict the future

[Engelo Rumora]

G'day guys,

I'm going out on a limb.

Maybe one day you can say that you heard it here first.

I'll start by saying that the world is moving at a very rapid pace with all kinds of crazy technologies coming out.

Virtual reality, augmented reality and artificial intelligence are just a few.

I don't even want to go into robotics.

The sad reality is that human beings are slowly becoming extinct.

Here is my prediction on the future of real estate.

Get ready, be prepared and be willing to adapt to change.

If you don't, you will loose.

The 3 Big Coming Changes In Real Estate

1) Brokerages will become extinct (5-10 years)

The sentiment toward brokers by their very own real realtors as at all time lows. Agents don't want commission splits and brokers are taking their agents for granted. Although NAR still has a tight grip on things, I see a company/companies lobbying to change legislation and remove brokerages completely out of the picture

2) Title companies will go out of business (5-10 years)

The whole cryptocurrency fiasco is the biggest bubble waiting to happen. But just like during the Dotcom bust. There where a few survivors with the likes of Amazon and Ebay who are still thriving to this day. I also believe this to be the same case with cryptocurrencies. The blockchain technology on the other hand is sound and will keep everyone honest, thus completely eliminating a need for title companies. All real estate transactions will be done virtually and with a few swift moves. A new currency will also coe into play. It doesn't matter if it's Bitcoin or whoever else survives the inevitable crash.

3) Realtors will become obsolete (20+ years)

Although I don't see this happening anytime soon as I still believe that human interaction is crucial to folks looking to make the most important decision of their lives (Buying or selling a house). "People will still buy People" and no matter how hard Zillow tried to change this, our time has proved that it's not ripe for change. There are many other tech start ups trying the same as Zillow and succeeding on a micro market scale. It's only a matter of time before one these hits it big and all of a sudden we have 1 national platform which the average "mum and dad" trust and go online to list and sell their property. While the buyers are also doing the same. For the time being tho, I think real estate agents are safe.

Call me crazy with the above but I'm sure they where saying the same thing about those speculating with Marijuana back in the day.

I'd love your thoughts so please comment below.

Do you see any revolutionary changes happening in the real estate world over the next 5-10 or 20+ years?

Thanks for reading and I'm looking forward to your comments