While many buyers begin their property searches online, actually closing real estate deals in Canada and globally still involve analogue processes. Drone captured videos provide 3D view of properties on sale and virtual reality tours offer buyers exquisite view and experience of the spaces they plan to purchase, but assessing a property’s value is still left in the hands of real estate agents. So why has technology failed to replace the role of real estate agents?
So far, technological advancements focus on data, accessibility, and efficiency, but that’s just one side of buying a property. The decision to buy or sell a home in Canada is still more emotional and personal. People tend to fear things that they don’t clearly understand, and a few are familiar with property selling process—consequently, many homeowners still covet the assistance that professional agents/brokers provide.
Canadian home sellers appreciate more the peace of mind of an informed agent or broker can offer and are more willing to spend a little extra for an expert to help them through the selling process. Sellers still believe that selling a home is a complicated process which should only be spearheaded by someone with adequate knowledge of the industry.
Inability to Replicate the Aptitude for Market Knowledge
While many people buy and sell an average of 3 to 5 homes in their lifetime, professional agents boasts of hundreds of deals under their belt. This is very critical in lead negotiations, marketing to prospective buyers, getting the best prices, and successfully closing a deal.
When it comes to buying and selling a home, there is one element that’s more crucial than anything else: market knowledge. Agents have the inherent ability to understand all the market trends of a given locality as well as its respective players. This simply means that they have a clear grasp of how a local property market will in a day, a week, a month or even years down the line.
In a nutshell, irrespective of how you are capable of searching for homes for sale, buying, or even selling them, it is almost impossible to replicate the aptitude of experience and market knowledge that professional real estate agents demonstrate.
Agents and brokers are still valuable assets in the Canadian real estate industry despite the many changes that have been brought about by technology. If you are in doubt, you only need to look at the United States, a perfect example where free access to historical data and other information on properties caused no dent on the number of home buyers and sellers partnering with agents. Real offline advice will always matter in the real estate industry. You can learn more information at Jennifer Los.