Are Real Estate Sales People In Jeopardy Due To Technology

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Selling real estate over the past few decades has changed greatly. Technology altered the industry with more activity taking place online. The industry is still paper driven with people still involved.

In this video I discuss how this could be changing. One example is a Dallas realtor who implemented 3D virtual tours into his website. This could really alter how people view properties.

Here is the article mentioned in the video:

https://www.cnbc.com/2020/08/09/housing-market-skirts-crisis-with-help-of-zillow-matterport-3d-tours.html


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Summary:
In this video, Task discusses how the real estate market is experiencing significant changes due to technological advancements, particularly amid the COVID-19 pandemic. He mentions Matterport, a company that creates 3D virtual tours, which saw a 157% increase in business from March to June. Task compares the current technological shift to the transition from the agricultural age to the industrial age during the Great Depression. He highlights the potential impact on real estate professionals as technology can now bring buyers and sellers together, potentially reducing the need for traditional real estate agents and brokerage firms.

Detailed Article:
Task discusses the impact of technology on various industries, particularly focusing on the real estate market. He notes how the COVID-19 pandemic has accelerated the adoption of technology that was already available but underutilized. The example of Matterport, which provides 3D virtual tours for real estate properties, exemplifies how technology is reshaping the way business is conducted in the real estate sector.

Task draws parallels between the current technological shift and the transition from the agricultural age to the industrial age during the Great Depression. He mentions how technology is now disrupting the service sector, just like robotics impacted the manufacturing sector decades ago. This shift poses a threat to traditional real estate professionals, as platforms offering virtual tours and connecting buyers and sellers directly could potentially make real estate agents and brokerage firms obsolete.

The narrative touches on how buyers now have access to extensive information online, similar to researching before buying a car. Task questions the necessity of real estate agents in a scenario where buyers can obtain detailed property information without relying on a traditional agent. He discusses the cost savings that could be achieved by cutting out real estate agent commissions, highlighting the potential financial implications of technological disruption in the real estate industry.

In conclusion, Task leaves the audience pondering the future of the real estate market in the face of advancing technology. The video serves as a thought-provoking insight into how industries like real estate are evolving, prompting viewers to consider the implications of automation and digital platforms on traditional business models.

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