A Prediction – The Future of Real Estate Sales

For decades, selling real estate for a living has remained much the same.

It is true that in reaction to the Americans With Disabilities Act and Equal Housing Laws, the rules on ads and what a real estate agent might say to buyers have changed. In order to keep up with items such as the Buyer Agency and a number of mandatory disclosures, more documentation was needed.Learn more about us at Realtor Near Me

But the way agents did their work remained almost the same.

They sat in an office and did “floor time,” posted advertisements in newspapers and magazines for homes, and gave one-on-one advice to buyers and sellers – often through postal mail.

Then the Internet came along and listings started popping up online. Real estate agencies, one at a time, purchased URLs and set up their own websites. By 2005, over 70 percent of all home buyers started their search online, the National Association of Realtors reported.

Now, the last study I heard said that before they even talk to an agent, about 90 percent of all homebuyers start searching online. And we know that sellers often go online – looking for the agent who does the most detailed job of selling his or her listings.

With that in mind, my projections for the future of real estate transactions are:

  1. More and more agents, refusing to take “floor time.” will work from home.
  2. More information sharing will be carried out electronically than in person, especially with regard to ongoing transactions.
  3. The business will be dominated by agents and agencies with the best websites.
  4. More and more institutions are going to close their physical offices

Agents would start treating floor time as “wasted time” because less and fewer individuals are actively visiting real estate offices. They would also opt to work from a home office, where they can plan their working hours around family commitments and where, when they need to concentrate, they will be free of “office noise” and interruptions.

Telephone calls can easily be redirected to the right person, and as younger consumers reach the real estate market, contact through e-mail and text messaging is increasingly favored. Up until its time to see a home for sale or until it is time for the seller to see their home before selling it, buyers and customers won’t need to see an agent.