The future of real estate. Are we ready for the real estate agency of 21st century?
We are aware of the fact that we live in a digital era where many businesses face the problem of automation. We adopted the internet technology, smartphones and a lifestyle dictated by the technology revolution, but in many areas, we are still far behind. If the way we work, earn, spend and live had changed, does it mean that the way we buy our homes needs to change too?
Buying property with the help of a real estate agency
Today apartment hunting starts online. Real estate agencies advertise apartments and houses on online portals, and users go through online ads to find a new home. In addition, agencies offer brokerage services for buying, selling, leasing and renting properties, and they charge a commission for their services. The standard rate of real estate commission is 2% or 3% of the total value of the property but can be 6% if the agency charges double commission. On the other hand, the internet is available to everyone. Looking for an apartment online is not something an agency exclusively does. It's something you can do from the comfort of your home or on the go via your smartphone.
The majority of real estate agencies refuse to embrace this change, and they stubbornly cling to the old methods. So, they keep information about good properties for sale and rent in secret. However, homebuyers don't have time to wait for the agencies to share their secret info. Today, all internet users can find an apartment or a house online. They don't need an agency for that. They need an agency to create a solid base of the property offers that will have customized search options and all information transparently displayed on the website.
Could that be the real estate agency of the 21st century? The one where all information is available and where agents don't intentionally hide essential details so they could sell or lease the property and charge commission? We believe that we are ready for the real estate agency of the 21st century where information is just one click away, where the entire process is automatized so it could save precious time. A modern agency has to fit our current needs, and it is natural for old ways to change.
Online real estate agency
All we need now is published online. Information, photos, videos, maps, location, and a lot more is now available anytime and anywhere. Online viewings save a lot of time as it's much easier for customers only to visit the apartments that they really like, instead of visiting different flats for weeks, even months, and to find out that they don't suit them at all. A 21st century agency guarantees advanced marketing options for every property and makes it visible to millions of users.
In the same way that e-banking eliminated queueing in banks, online viewings replaced property viewings with the real estate agent.
A successful and contemporary real estate agency has to display all critical information to all their users upfront. It has to eliminate the unnecessary steps like property viewings with the real estate agent. Property owners will be present at the location anyway so they can most competently show the property to interested buyers and tenants. Interested parties can schedule the date and time of the viewing together, and after meeting in person, they can work directly and transparently to seal the deal.
Agents are left to do what they are the best at, to lead the negotiation process and to offer professional advice to owners, buyers, and tenants. We still need real estate agents, but the traditional way of dealing with properties is of no use to us. Led by the idea that technological evolution is happening, we realized that our intention to become an online real estate agency that uses advanced technology is the future of real estate. The question that still stands now is are we ready to be the 21st-century real estate agency, and are you ready for changes?