The evolution of technology has penetrated different industries — and is now swallowing the real estate whole. One of the effects of this shift is the number of middlemen in the industry has been gradually decreasing. Some businesses think that this could ruin brokerages’ advantage since what a broker’s job is to give advice to homebuyers and home sellers. However, as time goes by, these homebuyers and home sellers have access to information online, making them smarter and educated in the process. Therefore, the need and number of middlemen as decreased.
Think of this like the travel industry. Before, there were travel agents everywhere who are ready to look for the best booking dates and destinations available. But now, there are a lot of platforms that users can now use themselves to book their own flights. Same goes for the real estate industry. Again, this proves that people can make their own professional decisions.
Thinking about it, the fees have cost homebuyers and home sellers a lot. But, there is always a workaround for everything, they say. That is why when there is a problem or a change, might as well accept it find something to do about it — meaning, getting it to your advantage. Instead of looking at digitalization as an enemy, it’s better to make use of it. Now, there are a lot of real estate businesses that embraced technology. One example is Reali, a real estate agency in San Mateo, California. The business took advantage of the changing landscape of the industry and created an app that helps homebuyers and home sellers find the perfect home efficiently while cutting costs and providing a platform for estate transactions
“We are a licensed broker. We are full-service broker house. We’ll provide you with the entire service you would expect from your broker and much more. We provide communication 12 hours a day, seven days a week. You can call, chat or email us,” Reali CEO Amit Haller said during an interview with PSFK, a business intelligence platform. Most of our buyers, typically millennials, prefer chatting because it’s convenient and non-intrusive for them, providing all the different information at the tip of their fingers.
“We automated the process. Technology plays a very significant role here. We didn’t reduce the price just because we are cheaper than others: We reduced the price by deploying a lot of technology and increasing our efficiency,” Haller added.
Another example of technology for real estate is the use of websites. An example of this is National Brokers Network’s website, which is a brokerage located in Australia. With this, homebuyers and home sellers will experience ease and convenience in finding and listing a property. They can now find everything they need in one place. In addition, Business brokers victoria will also find it easier to contact these people to help them with their purchase or selling.