Realtors adapting to ‘disruptive’ technology
Real estate agents are reacting to the new kids on the block that are taking a bite out of their business. Websites and apps that enable vendors to market their homes without a realtor have been springing up along with other ‘disrupters’ who want to reinvent the realty market. So what is the future for real estate agents? While the new technology may offer a solution for some, many people want the personal service that using an agent provides. A report from The Huffington Post says that some realtors are offering cashback to those using their services; not to sellers but to buyers; but one Toronto agent Andrew le Fleur says that the practice should ring warning bells for consumers: “You’re dealing with somebody who can’t compete at the same level as a top producer, you’re not going to get the best result at the end of the day in most cases." However Dan Chan whose online business offers up to 80 per cent of his sellers’ commission to buyers says that he’s not trying to compete with traditional agents and is offering an alternative to those what want a different way to do things.