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Real Estate, Technology and Those So Called Disrupters.

(Published on - 8/1/2019 1:16:05 AM)

Agents & Technology

In the past couple of years all I have been hearing about is the demise of the Real Estate Agent, Companies like Zillow, Open Door & Compass and the so called disrupters of the Real Estate Industry like RedFin and more, we see what happened to Purple Bricks, right now we see companies like EXP and Keller Williams duking it out trying to top each other with each ones tech. Well I am here to say that all the Tech in the world will not replace a nervous buyer or sellers phone call on a Sunday night at 8pm because they are not sure they are making the right decision.


Technology is a tool, like a hammer is to a nail, tech is a great tool if it is used properly, but tech will never replace a relationship, I predict in a couple of years that companies will all reevaluate all their technology when agents become less proficient in building relationships and connecting with people and communities and relying too much on an app, email or whatever they come up with next.


I have seen it before, I am a product of the Dot Com boom in the 90's where every company had to have a dot com at the end of their name, it was novel but it did not work out the way they thought it would and we saw a consolidation of the internet. And I think we will see the same with the Real Estate industry the only difference is companies will thrive or die and recruit agents that know how to build peer to peer human relationships and connections using technology as a tool not a means to an end, technology has never closed a deal without the help of a person, an advocate a professional consultant and it never will.


I remember learning how to code VRML Language because we thought that people would love walking through 3D spaces on their desktop when the screens were getting bigger, now the screens have gotten smaller and VRML language does not even exist any longer, but the constant in our industry is relationships, good communication and good service. And yes technology can help with this.


I always ask the question what is going to happen when a company Like Amazon gets into the Real Estate business and they will, the only agents that are going to survive are the agents that are Hyper Local experts with a strong local brand, you have to go small to go big in a small town like the town I am in Nutley NJ, the next couple of years will be interesting, I do believe Tech can be a good tool and I am an advocate of tech and that is how I built my brand, but it needs to be used properly, and we will see a consolidation of brands that are emerging today and we will see some disappear but the Real Estate agent will survive.


Matthew De Fede, Broker Owner of Realty Executives Elite Homes.




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