Millennials make up the largest number of consumers, which is why real estate agents, along with other business professionals, target them the most. Unfortunately for real estate professionals, millennials see little use for agents when technology can perform most of the same functions. After all, why pay a real estate agent to search for homes that meet your criteria when a mobile app can do the same thing for free?
Recent surveys sought to look deeper into this issue only to find that millennials are 93% less willing to make use of a real estate agent’s services. When asked to expound on their thoughts, those same millennials explained that they just didn’t believe a real estate agent still plays a critical role in the home buying or selling process. Half of the home sellers interviewed said they would rather use artificial intelligence to help them list their home rather than pay an agent’s fee for achieving a comparable level of service.
As many as 37% of home sellers believe an A.I. program could provide home selling services far more efficiently than a live real estate agent. Another 15% of sellers said they will likely use online services to sell their homes without any professional help, supporting the common belief that technology has eliminated the need for live and experienced agents.
In fact, there is some truth to these opinions. A.I. apps, which make use of machine learning algorithms, can conduct searches, analyze market trends, and refine home listings far more efficiently than a human being. However, that doesn’t necessarily make real estate agents obsolete. A human agent can still help you understand the buying process, and ensure that your interests are protected throughout the process. This includes negotiating for a fairer price, which isn’t a service any A.I. system will be able to do in the near future.
The key is in finding an ambitious and tech-savvy real estate agent. A professional who makes use of the latest advances in A.I. and other types of technology can give both buyers and sellers the highest level of service. They can provide more efficient buying and selling services while adding a touch of personalization that makes the experience more enjoyable. Combining human service with advanced technology ensures the buyer and seller each receives the best quality of service at the lowest cost.
About The Author
Jack Nourafshan is a distinguished real estate development professional and entrepreneur in Los Angeles, California. He is the President of Reliable Properties, a real estate acquisition, development and management company in the Los Angeles area. Jack has over 30 years of professional experience that has made him known as a leader in the industry. Jack Nourafshan started a blog on entrepreneurship to share his insight and experiences for aspiring entrepreneurs.