Is Technology Changing The Role Of The Real Estate Agent?


It may be hard to envision, especially for first-time home buyers or those yet to buy their first home, but 15 years ago, the real estate market was an entire different place. When records used to be buried in file folders, it put buyers in a much different place than they are today, able to access thorough property records on their smartphones in just minutes. There is no question about it that technology is shifting the role of real estate agent from an information negotiator to service provider.

“Before, you spent a lot of time doing information gathering, and collecting, and response,” says Jeremy Wacksman, Chief Marketing Officer at Zillow. “The internet really opened the doors. Agents are freed up to help get the deals done. But now they must be agent, negotiator, price setter, and a community resource.”

While there has always been some frustration over the work of agents, demands have only become more noticeable when ever-present technology lets everyone do their own research. Many in the industry feel accomplishment is about responding to evolving client expectations, and adapting as technology changes the buyer-agent relationship. The accessibility of data, an established market norm for years, involves agents to be on their best game. Consumer’s capability to teach themselves is a positive, but there is still a significant role for agents, especially when it comes to financing.

“87% of buyers purchased their home through a real estate agent or broker, a share that has steadily increased from 69 percent in 2001”

While technology is disrupting industries the idea of making an enormous, occasional, and substantial purchase such as buying a home without the help of an agent still intimidates many buyers. According to NAR stats, 87% of buyers purchased their home through a real estate agent or broker, a share that has steadily increased from 69 percent in 2001—it’ll be a long time before the human element is taken out of real estate. This doesn’t mean technology isn’t influencing how that relationship operates. Some people believe the as tech removes barriers to information. The real issue is receptiveness and service. Technology continues to provide more access to information, and agents and brokers need to continually be more responsive among their clients.