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All Forum Posts by: Account Closed

Account Closed has started 1 posts and replied 4 times.

Post: Real Estate Agents Will Be Obsolete Within 10 years?

Account ClosedPosted
  • Posts 4
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Great answer Ben. Agents who adapt and utilize technology will grow. Anyone who continues as-is will be put out of business.


Some taxi drivers adapted and started driving Uber. Some who held on to their medallion and fought the legal battle lost not only their medallion through obsolescence but also wasted money on legal fees.

Post: Real Estate Agents Will Be Obsolete Within 10 years?

Account ClosedPosted
  • Posts 4
  • Votes 0

Short answer: No.

More thorough answer: Practically, yes. But probably not by 2025. Maybe 2030-2035.

Are there still tax drivers? Yes. Are there still travel agents? Yes. But not really.

But in both instances, they are utilized by a very small percentage of our population. There will always be a need to talk to someone "live" when booking a very complicated trip involving multiple people (e.g. family reunion trip in a foreign destination). Luxury travel agents still exist (and many of them thrive) but no on is calling XYZ travel agency down the street to book a plane ticket. Technology is serving the needs of 99.9% of the population.

Sometimes you're in a very remote part of the country where there aren't any Uber or Lyft drivers. Or maybe you're in a foreign country where Uber/Lyft have not launched or banned by law - for now, but in all practicality, the taxi industry is dead compared to what it was in 2010. Most people don't know that the last telegram was sent just last year. Yes, it was still around. Old technologies and professions survive (how ever small) for a long time, but most eventually go away. 

I would be utterly shocked if at least 75% of the agents today are still in the industry 15 years from now (at last in their current form). Online real estate services will make great progress over the next few years, to the point that even first-time homeowners will feel perfectly fine using them over most real estate agents. Sure, buying a home (especially for the first time) is an emotional experience, but that can be accounted for in the ways that these web platforms are built. People used to say this about online dating. Now more people meet their spouses online than offline. We can't look the present version of Zillow, Redfin, and other early-stage real estate tech firms and say they can't replace the agents.

Any agent that believes that the value that most of the agents provide today cannot be replaced by technology is either in denial or knows very little about the innovation happening in this area. If surgeries performed by surgeons with decades of experience or legal arguments made by experienced lawyers can be replaced by AI, websites can certainly replace agents in their current form.

Multi-million dollar homes may require real estate agents (similar to luxury travel), but even investors will find it easier to use investor friendly platforms than go through agents in most cases. Agents with industry expertise need to join these web platforms at the ground floor and ride the real estate technology revolution now, or else they will find themselves made obsolete in 10-15 years.

Just look at what Booking.com, Expedia and the likes have done to travel agents in the last 30 years. I think the real estate agents that survive will be highly specialized in a specific niche (e.g. ranches, vineyards, portfolio transactions, other transactions with a legal twist, etc.) that these other online platforms will see no value in building for because it's outside of the core market.

Post: ISO Land owners (ranches, farms, vacant, even camp/rv sites?)

Account ClosedPosted
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Looking to partner with a land owner who has land 1.5-2 hours west of Denver metro area. Ideally, land has easy access to water, sewer, electricity, but not a hard requirement. Must be easily accessible all seasons and be near outdoor activities (e.g. hiking, biking, skiing, canoeing, etc.). Looking forward to connecting!

Post: Invest Now or Wait For Potential Crash

Account ClosedPosted
  • Posts 4
  • Votes 0

@Kelsey Mortimore it’s almost impossible to time the market. Don’t compromise on your numbers and you should be okay in my opinion. Depends on your risk appetite too I suppose. Just be cautious and smart.