For the past 20 or so years, there has been a race in the economy of real estate to “herd the cats” or “disinter-mediate the middle layer” aka “the agent”. Over this same amount of time, companies, ideas and industry loud mouths have come, and they have gone. I was recently at a state association meeting where one of the presenters was none other than Steve Murray (www.realtrends.com) – Steve is in my opinion one of the few proven experts of the industry of both yesterday and today. While recounting his entire presentation would not do it the justice it deserves, the underlying theme was “The Great Tomorrow”. Which basically spoke to the point that despite the comings and goings of technology and technology driven models aimed to disrupt the relationships between agents and consumers – consumer reliance on real estate professionals and REALTORS is at an all-time high. And, if Steve thinks that – then I am not going to question it. However, I do have some particular thoughts about how “The Great Tomorrow” will be even greater.
As mentioned above, the reliance on agents has proven to be strong over the years, despite efforts to minimize their involvement. However, we are embarking on a future in real estate where new corporate technologies are aimed at the financial management aspect of large portfolios of properties, and it is a matter of time until those technologies trickle down to the ma and pa agents – forcing them to comply with new standards in banking, title, insurance and closings. All things agents may, or may not think about as it relates to improving the one-off residential transactions. BUT, that being said, those processes will drive a new kind of agent, a smarter agent, one that can master the “art of the process” and stay competitive through the next few decades. MERGED is committed to building those types of agents – TODAY.
There are some that think that the real threat to the real estate profession is machine learning, robotics and automation technologies – and while I agree to some degree that they will play an increasing role in everyday life, their potential effect on the real estate industry is somewhat up for debate. The “art of the process” as I like to call it, is the opportunity for real estate professionals to become more sophisticated and diverse in their skills set, leveraging these “tools of the future”, that are actually already here today, and transform themselves into more of a knowledge and process oriented professional, while leveraging the tech to make light of the ever mounting busy work.
The concept of GIG Economy should play a major role in protecting the real estate pros, especially those that work part-time, which happens to make up roughly a third of the demographic. And because of that fact, MERGED RE has taken a laser approach to making that a reality, driving opportunity and creating greater reach for the everyday real estate professional.
Jack Berube, CEO, MERGED RE
The proactive position for agents should be to double-down on knowledge, as we ponder the lingering questions of how the role of the agent will be the same, change or become extinct in the near future. Speaking of knowledge, that is where MERGED RE is focused, by providing a best practices driven transaction environment that helps the agent display their knowledge in full prose, while also seriously attacking the challenges that tasky work places on the agent. By further enabling participants to manage the process of real estate more effectively, while at at the same time proving ones worth to remain a non-negotiable value. Without jumping into the world of commission compression (read that next month) there is without question a reality that agents will have to do more deals in the same amount of time – and for that, it creates a simple supply and demand logic to be considered. There are X number of deals and Y number of real estate agents – if we have to work on twice the deals, there will not be room for all the agents – I say hogwash. There is a natural process of “culling the flock” when it comes to members of the real estate community – and with the evolution of the economy, so provides other opportunities for people that are not truly committed to the duty of serving as a real estate professional.
To your success – Jack
To further address these, and many other realities of the real estate industry and how technology will help the real estate pros, MERGED RE is launch a new podcast entitled “Simplifying Real Estate”. Our first episode will be on May 15th and we are looking for your questions to drive the content. If you are a real estate professional and have questions about Brokerage, Agent, of Technology issues – then we want to hear from you. Simply fill out the following FORM and if we use your question, you will not only receive a free year of the MERGED RE Platform, but you will also be given the opportunity to ask your question LIVE to our expert panel.
ABOUT MERGED RE
MERGED RE is built by real estate pros, for real estate pros. Offering a simple to use and affordable activities management platform, MERGED RE is committed to helping real estate professionals, consumers, service providers and authority groups to “simplify and secure” the real estate transaction. The MERGED platform provides a trusted environment for collaboration and relationship engagement long after the initial transaction. Built on a platform of blockchain technology, MERGED introduces never before seen levels of document and relationship security – keeping all participants to the transaction aware and in control of their data, while mitigating risk for all parties. If you are a US or Canadian real estate agent, and want to leverage the commitment of MERGED RE to your business success – then visit https://earlyaccess.mymerged.re and sign up for a FREE ACCOUNT for one year.