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Is the role of Realtor becoming defunct?

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Real Estate Professional | 05 Dec 2014, 08:34 AM Agree 0
Technology is effectively pushing agents out of the equation, warn industry experts. Here’s what you can do to survive.
  • End of Era | 05 Dec 2014, 11:18 AM Agree 0
    Seasoned agents will be fossils soon too. Schooling for post secondary is going online .... agents think their model won't fail!!! Naïve!!
  • Mike Basler | 05 Dec 2014, 11:34 AM Agree 0
    The digital age has certainly had an impact on the Real Estate Industry. Access to information is greater than ever before. I believe the only Realtors that are at risk are those that limit their value to simply "finding houses" or providing a gatekeeper service. I believe more than ever the value of a Realtor is needed. Qualifying and prioritizing information available to clients digitally is required to enable quality decisions to be made by buyers and sellers. Information can be deceptive if not interpreted properly. To my knowledge there is no regulatory body that ensures web information is accurate. Many Sellers may also interpret list prices as sold prices as in, "that house is going for..." and mistakenly believe that the list price was the actual sold price. Buyers and sellers are able to gather a tonne of information that can be useful at the top end of the funnel. Technology effectively pushing agents out of the equation??? I don't think so. We may need to evolve but this is a good thing. Without change there can be no growth. It's been my experience that astute buyers and sellers enlist the services of professionals to help them navigate the entire process maximizing their returns, minimizing their stress and optimizing their time.
  • Nothing so constant as change | 05 Dec 2014, 11:48 AM Agree 0
    "End of Era" may be a little strong. Your rationale suggests we may no longer need the services of Teachers, Doctors (save surgeons), Lawyers, Financial Planners, Dentists and any other knowledge based profession. Yes we all have access to knowledge but 80 % of our decisions are made by emotions 20% through logic (knowledge). Where people are involved and decisions are needed then guidance, objective advice, and negotiation will continue to be valuable. - If you'd like to save a few hundred dollars and you need a tooth pulled. Check youtube - I'm sure you can find a clip that shows you how to pull your own teeth. This article speaks to people "finding " their own home but fails to address the number of homes sold through licensed Real Estate as a comparison to "self serve". I believe these comparative numbers have remained unchanged over the last 30 years - See NAR Stats. This is curious given we've had internet since the late '80's
  • Egos | 05 Dec 2014, 12:09 PM Agree 0
    Yes, most legal advice / GP doctor advice,teachers are being replaced with online courses faster than ever before and will be a thing of the past. The agent is becoming a dinasour(taxi,tour guide service) and their so called expertise can be found in minutes online. The only good thing they could offer is taking the emotion out of negotiating which can be eliminated by knowing previous sales and shoot for it. Where is the expertise in that??

    Please justify someone paying 30,000 for a 600,000 house to do what???? Little paperwork,,mls,taxi,tours, shoot for previous sales.... a lawyer makes 97% less ,$1000 at most and u are saying u are worth 30 times that?? I can't imagine if the house was 1,000,000 and the commission is 50,000 what more did you do? Buy a nicer suit,car, caviar??

    This ego is over !!! An please stop comparing urself to a doctor or lawyer !!! You can become a realtor without a high school diploma and take a few courses!!!!
  • | 05 Dec 2014, 12:58 PM Agree 0
    I'm not sure about ' most' or 'replaced' but I would agree that there is a lot of advice offered and this in many ways has enhanced the services of the respective professionals. Many folks get caught up on negotiating solely on price and forget the other variables in a deal. They seem to forget about timing, circumstance and needs behind the transaction of both parties. To suggest negotiating means only to get a number based on recent sales is a very limited view of the process. Check out "Getting to Yes". It's a quick read that may enlighten you in successful negotiations moving forward. I certainly can't justify the figures you've asked me to because I don't know the house - city - market - challenge - or risk in selling your hypothetical home. It's really a silly question - commissions are market driven. If a lawyer works 5 hours in an office and earns $1500 plus disbursements and a Realtor takes on risk, drives to location repeatedly, invests 30 hours or more, and provides complete professional service then I and many lawyers would agree that a Realtor does deserve more in compensation. Be careful not to fall into the trap of believing formal education equals wealth or professional service. The late Steve Jobs and Bill Gates had and have done very well for themselves and I think they both dropped out of college. I'm not suggesting you should drop out of school and I don't mean to compare Realtors to Steve and Bill. I'm only pointing out the education does not necessarily equal success in business in direct proportion. Your challenges are nothing new - many entrepreneurs provide stellar service and as a result deserve a better than average lifestyle because they've produced the desired results of their clients. I sincerely appreciate your point of view but I really can't imagine an extinction (see dinosaur)..... only an evolution that will be driven by the market..... better for all. Have a great weekend.
  • Wayne Ryan | 05 Dec 2014, 01:00 PM Agree 1
    To all readers... don't concern yourself too much with Egos. He/She is a well known troll who for some reason has a hate on for Realtors. I suspect they are in a low paying, dead end job, hate their life and get their weird jollies out of bashing others. Perhaps they are a failed Realtor, God knows there are enough of those out there. When someone won't use their own name and stand behind their comments you always know the value... zippo!!
  • Awaken | 05 Dec 2014, 01:30 PM Agree 0
    REP seems intent on stirring up reaction with these provocative headlines and "articles". I guess it works at some levels. But with so many other superficial articles vying for our attention, publishers like this are the ones who should be concerned with going defunct.
  • Realtor Dance | 05 Dec 2014, 01:45 PM Agree 0
    The egos are back grasping to defend their High Commissioned Model and seems a little insecure...I have no" hate on" but just saying there is no justification in paying 30,000 -60,000 for a tour guide/taxi service!!!! ?? I have said if u can dance ur tune and extract 30,000 -60,000 for tour guiding service go for it...

    Surgeons don't even make that kind of money and they went to school fro 10 years. U are not that special someone or something can replace you very easy and the real estate market will continue!!! ....and more buyers / sellers will have more money in THEIR POCKET NOT URS!!!!
  • Get A Job | 05 Dec 2014, 02:50 PM Agree 0
    Dude. Take a deep breath. Now hold it for ten seconds. Now breathe out. Feels better, right?
  • Distasteful | 05 Dec 2014, 04:40 PM Agree 0
    Sounds like a Typical Agent using World News about Breathing from New York incident for attention....how distasteful can u get..
  • Wayne Ryan | 05 Dec 2014, 05:41 PM Agree 0
    Now there's something... a little Trollie calling some else's comments 'distasteful'. The irony amuses me:)
  • Super realtor | 05 Dec 2014, 05:53 PM Agree 0
    Cutey,

    Cutey Ryan is still here trolling for support and spreading the defense for his/her/their ego/bloated/inflated/unjustified,dinasour taxi /tour guide service to buyers/sellers to cough up 30,000-60,000... gas has dropped so buyers/sellers you might save $15.00.... Ryan not sure why ur not at the tailor picking out a new suit?? I can see u at one of those Donald Trump Ego seminars?? Yelling ,I invented the wheel and sign here for my Magical selling.... ur ego must be feeling a little insecure if you have to banter on here..
    When u are at the tailor ask him to make u a cape SUPER REALTOR...saving the real estate world 30,000-50,000 a head!!!! suckers :-) laughing all the way to the bank
  • Wayne Ryan | 05 Dec 2014, 07:00 PM Agree 0
    This little trollie went to market, this little trollie went home ... well, you know the rest:):) It actually is kind of fun bantering with you anonymous. Not challenging or anything, but rather fun. Now, isn't it about time you head off to work and flip some more burgers??
  • Condescending | 05 Dec 2014, 11:53 PM Agree 0
    I am surprised... actually not as ur ego is putting down/condescending the hard working burger flipper because of the 3 month course you took to be super agent...watch out for super agent burger flippers when cape man takes a fee from u with his super powers and snickers at u after
  • Wayne Ryan | 06 Dec 2014, 12:05 AM Agree 0
    This little trollie ate roast beef and THIS little trollie went waa waa waa ... all the way home. Can you please please sing another tune... this one is soooo old!!
  • Low Wage Earner | 06 Dec 2014, 09:23 AM Agree 0
    Tour Guide aka Wayner,

    I thought you went to buy another suit and cape? So surprised you stay on this forum peacock??

    I agree...old where Egos look down on hard working burger flippers who can justify their wages and frankly are under paid. Very Old... Tour Guides(aka wayner the realtor) acting like the wheel has been invented and getting away with charging 30,000-60,000 for a taxi service(which is very respectable service). You remind of a peacock walking around and snickering at the burger flippers/low wage earners...

    Only thing u had left because the defense for ur bloated,unjustified ,overcharging fees went limp ...you resorted to atacking the low wage earner ...I would be ashamed Peacock....but please tell us again about that song and dance routine of justifying 30,000-60,000
  • New Suits | 06 Dec 2014, 09:25 AM Agree 0
    All buyers and sellers check ur local Flat Rate Realty service and save money..not pay for someones new suit
  • Rob | 06 Dec 2014, 10:53 AM Agree 0
    I hate to enter the fray here as its clear there are some agenda's being met. But I do want to add a few thoughts.

    I have been a Realtor for about 10 years, I love the job for one reason, I love making peoples dreams come true. Maybe their dream is to buy their first home and get on the property ladder, maybe they need to sell urgently and need some expertise to make it happen. whenever this happens, and I help realise my clients dream it makes me happy, I have often cried real tears of joy for my clients when we have managed to get them the home they dream of, because of the expertise I have gained in 10 years as a Realtor, and 15 years in other sales jobs before that.

    I know my skills and knowledge have very often been the key to why MY clients got the home they dreamt of, it was my advice and skills that tipped it in their favour when we have been negotiating against 10 other buyers and they have already lost out on 10 other homes.

    It has often been my knowledge that has found that hidden gem on the MLS because I know the area as I walk, live and breathe it every day.

    I have spent countless hours/days/weeks finding homes for my buyers. going to agent open houses for them to see if they match their needs. I have been up to 2am negotiating deals on their behalf, knowing they may lose out on their dream home if I don't. i have worked with buyers for years sometimes because that's what it has taken to get the deal done.

    One of the best things about this job is that I get paid to do this.

    To take this job VERY seriously, I don't need new suits, I don't need big cars, I don't need my ego padding. I know I am good at this job because my clients tell me so. They then come back when they need more help, or refer me to their friends and family (the biggest compliment of them all) when they can. Sure I don't work for free, nobody should.

    I am always open to negotiate my commission when selling, I have sometimes sold homes for very little money because it was in my clients interest (little equity) probably some of these deals I have done have been at a loss for the money, but my clients were happy, and that often leads to more deals down the road.

    I always make sure my buyers know I value them using me instead of one of the other 45,000 Realtors in my area.

    I don't put a value on what I bring, the market does. If anyone fees that, with a few clicks of a web browser, they can get the same knowledge, skills and experience I have they are plain wrong.

    Market price of a home is not even 5% of what it takes to buy a property.

    To accuse me of only caring about the commission is wildly inaccurate. If that's all a Realtor cares about they will soon be caught with their pants down.
  • | 06 Dec 2014, 11:09 AM Agree 0
    Yes, its true. The MLS is our flaw, unlike Europen real estate tranactions where the Broker servers the area he is in and NO Addresses are disclosed until you sign a showing document of introduction. No one wants to be educated anylonger. Buyers know way more that some sgents abiut whats going on in a neighbourhoor. The digital age is becoming more and more open to access information, with do-it-yourself websites...that some dum agents still work with and show those properties. Its like shooting yourself in the foot. It will go the Europen way very soon. fABO and Agents will be something of a luxury. We have opened up our MLS to the public and now it cant be closed. Why tell where the address is, you need service from Lawyers, Doctors..do they tell you how to search for your fix... Get real CREA we are agents that prove a serice for a fee. Mr pubic diesnt like it...find another service. We dont show listing adress or properties with a showing agreement for the one property it the Europen way and they are way ahead of us on this.
  • Tour Guide | 06 Dec 2014, 12:05 PM Agree 0
    No one said ur not good at tour guide services or taxi services or filling out some paperwork..they are just saying you can't justify the 30,000-60,000 fee to do that kind of work
  • Wayne Ryan | 06 Dec 2014, 01:20 PM Agree 0
    For those of you just joining this conversation.... don't worry about our little troll. I've just been having some fun with him. He lurks around this site and likely others and spews his vitriol. From his limited vocabulary, syntax and thought process he's clearly of modest intelligence and very likely hates his own life situation so much that he is envious, jealous and resentful of anyone who is happy and successful. One can only hope that one day he will find a friend and no longer feel it necessary to lurk around here. I mean what sort of person actually takes glee and joy about suggesting someone will or should lose their livelihood?? And you know, maybe I made a mistake and he's actualy the CEO of a huge company's:):) NOT!
  • Tour Guide | 06 Dec 2014, 02:08 PM Agree 0
    Taxi Driver aka wayner,
    you are still here?? Go dazzle those clients with ur tour guide /taxi service and stop ur whinning..

    the tour guide is dancing the ego again!!! He has to be the cutest agent out there debating with ego!!!

    Either you pay 30,000-60,000 for ego agents or you can use a flat rate service and save 95% ..ur choice

    Ego Agnet 30,000-60,000
    Flat Rate 1,000-2,000
    Both with the same results...buyers and sellers Wayner will dazlle with 3 month course ,tour guide, caviar,tailored suit
  • Scott Simmons | 06 Dec 2014, 02:17 PM Agree 0
    Back to the topic of the post. I'm always amazed that agents with 20 plus years has so little on line. The world is passing them by but it's not to late. Even if one can not write they should be digitizing their knowledge and putting it up on line via podcast. Podcast are easy to make and can cover a wide range of topics. I have over 100 hrs of podcast on my site and surprisingly people take the time and listen to them some have listened to them all. It's a great way of getting digital content that can not be copied and pasted onto another site.

    If pod-casting is not something you willing to do make videos and not slide of your listings but actual informative videos of your area. With a street by street tour.

    The days of hording the knowledge until the phone rings are over. I'm afraid to say the person trolling here is not a one off so many of the consumers of our service feel this way. If you web page is 4 pages of boiler plate your dead in the water going forward. Even you long time clients are going to look at you as a dinosaur probably an Obsoletourrexuschargustomuchas. I think they dug some up a while ago they were reported to be full commission stock brokers. Those that embrace the digital era are going to strive to the top. Those that want to maintain the Status Quo are in for a rude shock. The genie is out of the bottle it's time to look at a digital strategy for your survival.
  • Wayne Ryan | 06 Dec 2014, 02:23 PM Agree 0
    Jeez trollie...you have to stop copying and pasting your previous comments, I'm running out of replies:):)
  • Rocket Formula | 06 Dec 2014, 02:42 PM Agree 0
    Tour Guide(wayner),

    Why are u still here?? Go find those admirers who are willing to pay ur ego/tour fees...dazzle them with that rocket formula of buying and selling....

    Online adm work
    taxi service
    tour guide
    shoot for previous sales on listing
    New Suit( my favourite)
  • Scott Simmons | 06 Dec 2014, 03:03 PM Agree 0
    An example of how the digital age is going to kill of local non digital agents is about 3 years ago a person watched one of my videos on how to sell and called me. He had 11 condo units he wanted to sell and asked if I would list them (who would not jump at that offer). There was one little detail. The listings were in a small town in the north of BC approx 800km from my home on Salt Spring. No problem. I took my son with me we made a ski trip out of it. We spend two hours in the town. Shot 25 minutes of video and took 100 or so photos. Made a deal with the property manager as per real estate council rules he would open the door and not talk at all to buyers. Made another deal with notary to id and go over deals with buyers. Went home, after selling home at ski hill to on line client and made a one page web site of the town and building. With informative town videos, podcast with economic person form town, floor plans, stata plan, bylaws behind user password, took about 8hrs to make the site. Sold all the condo in a few months. Never represented a buyer only seller. Never meet a buyer. Never went back to the town. Double ended all sales. Only put one on the mls the northern board was so slow and fees were to high. Web site had thousands of hits. Poor old agent from the town had one old tired web site. Offered her the site after I sold the units for a low fee and she turned me down. Had another offer to sell another building in same town glad I did not sell the site.
  • Wayne Ryan | 06 Dec 2014, 03:22 PM Agree 0
    Trollie... even YOU must be able to come up with something new. My God... Yawn...
  • LOUR | 06 Dec 2014, 05:54 PM Agree 0
    Mr. LOUR TOUR.

    you just can't stop that Ego must be hurt...

    Get that bait out there and lour in another sucker...it will only cost $30,000 -$60,000 for my LOUR TOUR ..I provide a taxi service to and from the Tour , will open doors and show/ explain this is the bedroom,the bath ....like magic.. I will get on my tablet and find another tour...more magic...I will dazzle u with my negotiating skills..will look up comparables(solds) and shoot for it ..more magic..
    I will defend this dinasour model with every penny I can extract from the buyers and sellers....


    I don't work on Suit Sale days and will not lower my commission for anyone ..that is what I tell u but I am have done it many times but don't tell anyone..


  • LOUR | 06 Dec 2014, 05:54 PM Agree 0
    Mr. LOUR TOUR.

    you just can't stop that Ego must be hurt...

    Get that bait out there and lour in another sucker...it will only cost $30,000 -$60,000 for my LOUR TOUR ..I provide a taxi service to and from the Tour , will open doors and show/ explain this is the bedroom,the bath ....like magic.. I will get on my tablet and find another tour...more magic...I will dazzle u with my negotiating skills..will look up comparables(solds) and shoot for it ..more magic..
    I will defend this dinasour model with every penny I can extract from the buyers and sellers....


    I don't work on Suit Sale days and will not lower my commission for anyone ..that is what I tell u but I am have done it many times but don't tell anyone..


  • Practically FREE | 07 Dec 2014, 10:25 AM Agree 0

    You see buyers and sellers ego, tour guide wayner(others) left the stage because all they had in the end was attacking the hard working burger flippers and banter with trollies...they are thinking how did we resort ourselves to such a low point when we are sp powerful and sophisticated !!
    THey know, if they were Cancer specialists in the conversation it would be lossed but this bloated model and skill is not that special.. I would guarantee you could get the same results for 95% less costs with a FLAT RATE SERVICE

    tHey can't justify why buyers and sellers would pay $30,000-$60,000 for being a taxi/tour guide service. But they will come back with the ego dance and repeat there are so many layers that is why...sounds like any bloated system and we all know many of those...

    Remember to List a property they look at previous sales/comparables and WOW they list at that or a little more. They sit back and 30,000 agents check the list and set up a TOUR, wow!!! Agent brings a offer and they hold out for the list price they came up from comparables,wow!! In a hot market,low interest rates, high immigration...wow!!

    Stop the madness and paying for layers,suits,,fancy offices.silver tongue ...those days of big offices, big overhead is going online and it is practically FREE
  • Wayne Ryan | 07 Dec 2014, 04:47 PM Agree 0
    Hey Trollie... sorry I was away for a bit. I had to go flog my chauffeur because he missed a spot while polishing the Rolls:) One of the burdens all us mega millionaire Realtors have to deal with:):)

    Anyways, I realize that you are probably a failed and frustrated ex realtor but rest assured, there is no shame in that. It really is a tough business to make of go of and lots of people find it difficult if not impossible to succeed. In your case, I find it hard to fully understand why you insist on lurking around a site designed for Realtors and real estate discussions when you so obviously scorn and hate the industry and it's agents?? Now everyone is free to spend their time how they wish but wouldn't yours be better spent trying to upgrade your education or maybe take some English language classes so that you can learn how to properly construct sentences and use proper syntax? At least then you might be able to participate in a logical and intelligent manner and actually contribute something to a discussion rather that cut and paste the same old same old time after time. Just sayin???
  • Tweebers | 07 Dec 2014, 05:44 PM Agree 0
    Mr. Botox aka Wayner Tweeb

    you have to be the biggest tweeb.(my Hero)...looking down on burger flippers..my guess is u color ur hair,have hair plugs, body wax and probably have a mustache that looks like something from a porn site,

    remember I said u are bloated with ur tour service fees ...but keep up the tweeby boasting come backs

    Lets see... u attacked burger flippers,grammar skills...what a tweeb.....please tell the world a rolls is success...that is true 80's...I knew it porn mustache, hair color,plugs, botox,rolls ,tour guide model... MR. 80's

  • CNN HERO WAYNER | 07 Dec 2014, 08:21 PM Agree 0
    Wayner the Tweeb a CNN HERO for next year...
  • Wayne Ryan | 07 Dec 2014, 11:26 PM Agree 0
    Ahh crap, you got me. Now I'm hurt. I think I'll quit real estate, sell my suits, stop colour
    ng my hair and go on social assistance. You've shown me a better way😀
  • Wayne Ryan | 07 Dec 2014, 11:26 PM Agree 0
    Ahh crap, you got me. Now I'm hurt. I think I'll quit real estate, sell my suits, stop colour
    ng my hair and go on social assistance. You've shown me a better way😀
  • tweeb | 08 Dec 2014, 12:18 AM Agree 0
    tweeb
  • Keep UR MONEY | 08 Dec 2014, 09:40 AM Agree 0
    Ask ur agent to lower his commission( 1,000 for listing and 1,000 for buying) and if not keep searching till u find one .. there are plenty of great services/agents that will perform and get the same results...keep ur money for closing costs,legal fees, unexpected costs ,,,

    Just like the the tilte posted...is the agent is defunct...do a little work and u we see you will save $20,000-$50000 and more
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