Why Real Estate Agents Are Dinosaurs

It’s no secret that people don’t trust real estate agents…

And, I’d never trust an agent that I had not seen ‘in action’. But this morning I discovered this article about Sissy Lappin. She’s a real, real estate agent. Yesterday she fired the sharp arrow of truth in to the heart of America’s property industry.

June Fletcher describes the serendipitous moment she discovered Sissy Lappins’s marketing email material in her inbox. She was so chuffed by a real estate broker ‘heralding her own profession as obsolete’ that she decided to call Sissy.

Sissy talks tough…

Are Real Estate Agents Dinosaurs?

With that as her opening statement she was bound to get many of her colleagues off-side. But she makes some really good points. And agents in Australia should heed these lessons…

Home owners who want to sell their own home are discovering they can get all the information they need to list, market, stage, negotiate, and ‘close’ the sale of their own home – on the internet

Thousands of first time Aussie buyers who pocketed more than $20,000 from three separate schemes; – the first home owners grant – the first home bonus – and the first home buyers boost.

They are now struggling to repay loans on homes that have little or no equity.

What helped fuel this negative equity epidemic was the mechanism designed to protect our economy – mobs of first home buyers paying over the odds to claim their pot of gold being handed out by state and federal governments.

Home sellers look for ways to cut the cost of selling

Shrinking equity is now forcing these home owners to look for ways to cut the cost of selling a house. And the biggest cost in a property transaction is the real estate agent’s commission. The average fee paid to agents by home sellers in Australia is about $10,000.

If you live in the inner suburbs of any capital city agents will often charge $10,000 to $20,000 just to advertise your home to buyers (if your house fails to sell say goodbye to the lot, and if it sells you’ll have to pay the commission on top).

Why Real Estate Agents Are Dinosaurs;

Like bank tellers, travel agents, stockbrokers, and other middlemen, real estate agents are no longer critical for the transaction.

The internet has reduced the need for agents.

In the last 18 months, 15,000 agents in Australia have left the industry. And I believe the number of agents will agen bola terpercaya continue to fall as more people turn to technology to help them sell their own home.

Younger home sellers are especially confident they have the ability to sell a house using the internet, and not with a traditional real estate agent. One agent recently lost a juicy commission because a seller sold his home to a Facebook friend before the agent could list it. Another home seller paid his receptionist $1,000 to learn how to sell his home on the web – and it sold.

The future of agents

But no matter how much technology redefines the property industry, I believe that only the best agents will survive. And slowly the public opinion of agents will rise as cowboy agents retreat and retire.

Regardless of the market forces or the latest technology, will real estate agents survive? I think only the best will. Those are the agents who place your needs ahead of their own.

Leave a Reply

Your email address will not be published. Required fields are marked *