Big tech companies always seem to be targeting real estate professionals, but their usefulness in the field has made them indispensable.
internet. Jiro. Purchaser. love.
What do these have in common? All of these were once touted as the death knell for real estate agents.
Lately, the social media network now known as X has been tossing out the old, tired trope of claiming that platforms like Opendoor will be the next Agent Assassin.
Could technology platforms ultimately reduce or even eliminate the role of traditional real estate agents? Here’s a buzz on tech and real estate social media claiming that “AI, digital trading platforms, and streamlined buying tools are propelling the industry toward a future where buyers bypass agents and transact directly with software.”
One tweet from X says that Opendoor can help you complete a home purchase in just 12 minutes, while other tweets talk more generally about AI’s potential to streamline and automate various aspects of the transaction process.
The consensus among industry experts is less dire, with most agreeing that while agents won’t disappear completely, those that perform poorly or are less tech-savvy will likely be sidelined.
“We think this industry is very bloated and needs to change,” Ownli co-founder and CEO Blake O’Shaughnessy said in the article. “Some agents will be replaced by technology and AI. Casual, part-time agents are in a bind.”
When it comes to the essential nature of an agent, it would be hard to go further than Hobey Hannah’s recent remarks in a Q&A with Inman’s Marian McPherson.
This is the largest single financial transaction someone will ever make, and it is highly complex and emotional. Therefore, there is always a need for a human touch. So when you hear now that artificial intelligence will replace agents, it’s no different than when people were told that the Internet would replace agents. That won’t happen. But we need to adapt.
Need more convincing? Check out recent service stories from Inman contributors to get insights based on real-world, practical experience that AI can’t match.
Does that mean the toilet will explode? Let’s see ChatGPT handle that.
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Email Christy Murdock
