The internet has done a great job of eliminating all kinds of middlemen; but apparently, not real estate agents. In fact, there are fewer travel agents since Orbitz and Expedia have been launched. Amazon, on the other hand, has rapidly purged the need for soft goods retailers.
Despite this however, the internet actually did the opposite to property agents. Instead of chasing them away by the free insights and information offered in real estate websites like Zillow and Trulia, it strengthened the need for their services and assistance. Although the number of agents in practice today has greatly decreased, more people are looking to them for assistance in buying a new home and selling their house.
In fact, according to the National Association of Realtors, 89% of buyers hired a real estate professional in 2012 as opposed to only 69% in 2001. In the same year, only 9% were recorded to have bought a home without the services of a property agent. This is a huge decrease from 20% in 1987.
If you are still wondering why the internet couldn’t drive away real estate agents, here are some of the top reasons:
- Real estate transactions have become more complex with stricter lending policies and more foreclosures and short sales in the market. Without professional assistance, it would be extremely difficult for a buyer or seller to get financing approval and negotiate with mortgage lenders and foreclosure companies. Add to this the fact that navigating through this more complex market will take longer on your own.Even with the free information provided by real estate websites, buyers and sellers still look to realty agents to lead them to a successful property transaction.
- The internet has greatly helped both buyers and sellers in finding homes to buy and potential homebuyers, respectively. As a result, productivity has been massively improved. Less time is needed for touring and shopping around, which means more time for the buyer and seller to focus on closing the deal. This is where they will enlist the help of real estate agents.
- Rather than outpace them, the internet had actually become a useful tool for real estate professionals. Most often, property agents are affiliated with a brokerage, like Jerry Pinkas Real Estate Agents. On the other hand, because the internet has allowed them the perfect medium to be directly in front of consumers, the strong need to affiliate with brokers rapidly diminished. As a result, brokers moved back to their offices and focused on offering trainings on different conditions of the housing market.
- People are more willing than ever to pay for the services of a property agent in helping them buy or sell a house than cutting back and going through the entire real estate process on their own. Buyers and sellers are smarter now and they look at the house they are going to buy or sell as the biggest asset they own. Hence, they will do everything they can to secure that asset, including hiring professionals. This is especially true if they find an agent who has proven records of handling the real estate process correctly and efficiently.
Call the Jerry Pinkas Real Estate Experts for more tips and information in hiring real estate agents.
Jerry Pinkas Real Estate Experts
604 N. 27th Ave
Myrtle Beach, SC 29577