Technology has changed the real estate game, but that doesn't mean that realtors should worry.
Fairfax, VA -- (ReleaseWire) -- 06/13/2016 --With the availability of so much technology and a wealth of real estate information readily accessible on the Internet for buyers, what does that mean for real estate agents? Is it possible that all of this technological advancement could reduce the need for the agent, because it's easier than ever for buyers to become educated through Google University?
According to stats, which you'll find below, this is not a factual notion. While technology is "changing the role" of the agent, according to CNBC, buyers would be selling themselves short by attempting to purchase one of the biggest investments in their lifetime without an agent. In fact, that's a gamble that many buyers just don't want to take.
The Verdict is in…
Factually, the world-wide-web does in fact make it easier for potential buyers to find the home of their dreams- with most taking advantage of the ease of access to locate the perfect home to invest in by using the Internet. However, use of the web to find a home, along with a little home buying education, is about as far as it goes for buyers during the real estate process.
According to the NAR 2015 Highlights of Home Buyers and Sellers, the actual number of FSBO (For Sale by Owner) has dropped dramatically to just 8% in 2015, with 87% of buyers purchasing through a real estate agent. More interestingly yet, potential buyers may not start out with an agent during the process.
In 2015, 42% of buyers looked online to find the perfect home before contacting an agent. While 82% of buyers found the web to be a great source of useful information during the buying process, most individuals are more comfortable sealing the deal through an agent.
Why are buyers more comfortable with an agent?
Realtor.org cites the local market knowledge and resources as "unparalleled." This knowledge is beneficial to both the buyer and the seller. In addition to the experience and knowledge of the real estate agent proving beneficial to buyers, there's also the fear factor that is believed to come into play when attempting to purchase without an agent. Many people are simply afraid to cross that line without expert assistance and guidance.
The Internet Opens Doors
In the end, while the Internet has the power to open doors and to educate, it's just safer to seal the deal through an agent. Having an agent on your side is comparable to insurance. Your agent is there to protect you, and to make sure you not only get the best deal on the house you want, but that you're not taken advantage of in any way.
Your agent can answer questions that Google might not have the ability to answer, and your agent delivers the human experience that most people desire in most aspects of life.
Speaking of the human aspect, NAR highlights of home buyers and sellers for 2015 also cites that 41% of buyers purchasing through an agent, found their agent through a friend, relative, or neighbor. And 88% would not only use the same agent again, but they would also refer their agent to other prospective buyers. Before the final sale, it isn't uncommon to need a little money flowing into the business. That's why Commission Express is here, offering a fast advance on commissions with low interest rates and a free 30 day grace period from the projected settlement date.
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