Are Real Estate Agents Becoming Obsolete?
New-generation online property websites (like Zillow and Realtor) are popping up everywhere on the internet. Because of this, many people are starting to question, “Are real estate agents becoming obsolete?”.
While property portals and virtual viewings are making it easier to view and buy a property from the comfort of your own home, that doesn’t mean there aren’t benefits to having a realtor sell you a home.
Buying a property is a huge purchase. Even when buying properties from a property portal, you still need some authenticity that the sale is genuine.
In short, no, real estate agents are not becoming obsolete with the rise in technologies. There’s a need for both options in today’s world and the two go hand-in-hand with one another.
Online portals and other virtual services can assist in finding you the right property. While an estate agent can verify the purchase, answer the “human” questions, and get you through to a smooth close.
Keep reading to learn the facts on why real estate agents are needed and what the benefits are of working with a realtor.
Why are Real Estate Agents Needed?
Despite the availability of virtual viewings and bookings, there’s still a need for a real estate agent when buying a property. Real estate agents are an almost inseparable part of the real estate business, and here’s why.
1. Offers Authenticity of the Purchase
Owning property is a dream and a life-long goal for many people. For most people, hard-earned savings go into purchasing a new home. Therefore, it’s important to ensure the sale is genuine and above board.
Buying a house consists of various legal terms and stages. A realtor is there to support buyers navigate the process properly and offer authenticity for the purchase.
2. Realtors are Trained Professionals
Secondly, real estate agents are trained professionals with high skills in their specific fields. They know the law when it comes to valuing properties, marketing houses, getting loans, navigating mortgages, and more.
Because real estate is always changing, realtors are used to keeping on top of the latest trends in the property market. They also know what the going rates are for properties. So, they can be trusted to find the best price (whether you are selling or buying).
Negotiating and bargaining on a property can also be smoother with a professional, rather than selling by yourself or another website (like selling a house on Craigslist).
3. Local Real Estate Agents Specialize in Your Area
Working with a local real estate agent gives you insight into the industry that no property portal can. Because they buy and sell houses regularly, speaking to buyers and sellers daily, they know the local buying market inside and out.
There are no limits to what a local real estate agent may know the answer to. For example, they’ll know what areas are best if you are starting a family or planning to retire. They’ll also know which neighborhoods are best to suit your lifestyle and future goals.
Many realtors will even be able to share specific insight into what offers buyers are making on other properties in the area. They can also advise what people are most interested in (like which renovations buyers prefer to be completed).
Whether you’re selling or buying a property, having a local real estate agent to share insight into the local market cannot be underestimated.
4. Support First-Time Buyers
Buying a new home as a first-time buyer can seem like a daunting experience. The process can be long and complicated, especially when you’ve never experienced it before.
This is another benefit of working with a real estate agent. As a first-time buyer, a real estate agent can help answer all your questions. They can support you in buying the best investment property for you and ensure a smooth close on the sale.
5. Provide Information Unavailable Online
Finally, another benefit of working with a real estate agent is that an authentic licensed agent can be the most valuable source of information during the buying or selling process.
Even though online resources, like 3D tours, allow you to see what’s on the surface of the property, a realtor can share what’s underneath.
They can answer questions about what work has been done to the property and what home improvements are needed. Some real estate agents can even offer an idea of how much renovations will cost to fix and whether it will be a worthwhile investment for the property.
Additionally, a real estate agent can offer their personal opinion of a property. Because they know the industry and current trends, they can share insights about the investment and what it means for you, should you want the advice.
Summary: Are Real Estate Agents Becoming Obsolete?
In summary, no real estate agents are not becoming obsolete with the rise of virtual real estate services. There are benefits to both, and the two services perfectly complement each other to create a smooth purchase or sale.
In the modern digital world, having the option for virtual visits, bookings, and online payment systems can be hugely beneficial. This is particularly the case for people moving cross country, with mobility restrictions, time constraints, or other issues.
It can also be ideal for convenience reasons, as multiple properties can be viewed virtually in a day. Whereas face-to-face visits are usually capped at a maximum of 2 to 3 per day. This is because of the travel time and booking availability.
However, when you find a property you’re interested in buying, this is where the advice, guidance, and support from a real estate agent are invaluable. They can show you around the property in person, answer all your questions, offer hidden insights, and share advice on what might be the best path for you.
They can also guarantee that the property sale is lawful, provided you’re working with a licensed real estate agent. Likewise, when selling a property via a realtor, you can be reassured that the buyers are legitimate, trustworthy, and above board.
Thinking about selling your property in Philadelphia? Brotherly Love Real Estate are your local property experts. Our team buys houses for cash. You can sell your house fast (in as little as 21 days!) with minimal closing fees. Learn more about selling your house to an investor or contact us today at (215) 769-9875.