Estate Agents Tips: The future of Real Estate: Are Real Estate Agents becoming obsolete?

Estate Agents Tip: The future of Real Estate: Are Real Estate Agents becoming obsolete?

I’m seeing a lot of articles lately about websites, technologies, and companies looking to replace the real estate agent. From Zillow Instant Offers and Open Listings, everyone is trying to disrupt the industry. Here are my thoughts. Feel free to add me on Snapchat / Instagram: GPStephan

Honestly, as a buyer and investor myself, the investor in me would love for there to be a streamlined process between buying and selling. I just wish everyone can level with each other, shake hands on a price over 5 minutes of negotiation, and call it a day, where both parties can be happy. But realistically, everything that’s rolled out so far won’t make much of an impact and the career of being a real estate agent will be thriving for a very long time. And the reason why is because real estate is often bought with emotion, not with logic.

Buying a house is an emotionally-driven decision. It’s one of the most expensive purchases someone will make in their lifetime, it’s where they’re going every night, it’s where they’re sleeping, it’s where they’ll create memories, it’s where they’ll raise a family and grow old. As a seller, your home is an extension of you – you spent your life’s earnings on this place, you created memories here, this house is YOU. And technology can’t effectively articulate emotion.

Half of what I do is act as a therapist. I’m someone that people bounce ideas off of, I share experiences, stories, and opinions. I’m someone they can trust for advice and techniques to get them the highest price. And it’s important to objectively look at how someone is feeling and determine how you can best get them what they want.

As a real estate agent, you need to understand your value. Your value comes in the fact that buying and selling real estate is emotional and you need to learn to handle that to benefit your client. A good agent can make a 10%+ different in the selling price based off their techniques, photographs, selling strategy, etc. I’ve seen random no-name agents just kill deals because they have no idea what they’re doing. Then their sellers are left wondering why the property never sold. Sometimes it’s mis-pricing it, something it’s lack of advertising, sometimes it’s lack of pictures, sometimes the agent just isn’t available to show it.

And sometimes you have to have your client move away from the emotional side when things become too difficult, and help guide them to logical. Sometimes clients get too logical and focused on the numbers to the point they forget this is the place where they’re going to be spending the next 20 years of their life. Understanding the ups and downs is an advantage real estate agents have over programs and websites. It’s less about being persuasive as it is giving an objective thought and making sure your client understands all angles before making a decision.

But WILL this take away from our business? I doubt it. It’s all about effectively communicating your value and why you’re worth what you charge. If you can do that, you won’t have any problem. Because the truth is, a good agent is one who saves you more money than they cost.

For business inquiries, you can reach me at [email protected]

Suggested reading:
The Millionaire Real Estate Agent:
Your money or your life:
The Millionaire Real Estate Investor:
How to Win Friends and Influence People:
Think and grow rich:
Awaken the giant within:
The Book on Rental Property Investing:

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30 thoughts on “Estate Agents Tips: The future of Real Estate: Are Real Estate Agents becoming obsolete?

  1. If what u day is true than these companies should not exist and if they did should not be making any profit nor have much business…

    I find the opposite is true

  2. There is no way I'm giving someone 6% of the value of my home. Agents will have to figure out how to be involved in more sales with smaller commissions. I can see the need of an agent for a long distance purchase but beyond that….All the information is out there.

  3. Like the video but we have to stop using scare tactics that arent backed in data, its part of why reators come off a little sleezey. For example, saying you might overpay for a house, the commission pays for itself, etc. Economists have demonstrated the opposite is true. Realtors quite literally dont sell homes for more than FSBOs. NAR published a study and was caught lying, saying realtors sell homes for 13% more but it turned out they used mobile homes for the FSBO sample, and single family for the agent assisted sample. Lol way to improve the image. Als, I constantly encounter Realtors who underprice, and encourage their buyer to pay full price if they want the house. Real estate is not an industry of cerebral, well trained professionals. For gods sake it takes more training to become a hair dresser. Real estate is an industry of below average everything: IQs, marketing accumen, communication, economics savvy, etc. Realtors cant calculate absorption, but hey, if they were smarter they wouldnt be reatltors. Lastly people arent saying there is no value in a realtor, but its very little value relative to 5 and 6 percent commissions. Lets pay people what they deserve. And people are growing tired of the obscurantism when they ask why a 500 k home has to pay twice the commission as a 250 k home. There isnt double the paperwork, there isnt double the steps or marketing spend. Lets get honest here. People are calling for a reformation of the industry. This isnt 1905 where people run documents back and forth to the courthouse, and dont have fax mavhines or email or internet.

  4. There are soo many f'n idiot agents in my area due to no other way to make a living. What really pisses me off is the fact that 90% of them sell homes and properties w/acreage way under market! Then you've got the stupid sellers who get intimidated by these agents who have been around for 30 yrs. Omg, this area makes me want to bang my head against the wall. R..E. is my passion. These agents literally don't know a thing about building costs, economy, anything! I'm still lic. and competed against this shit until I couldn't stand it anymore. I constantly had to work both sides of the escrow and almost had to become an agent for the opposite side. At least you're in an area where people understand money!!!

  5. I think it's definitely a dying profession.. When I first started looking into houses, the first thing I asked myself was why do I need an agent? And then I realized, I don't lol. It's like car salesman. Most useless job ever. But o think it's perfect for people who don't really get how stuff works, or simply put but not to insult, for people with lower IQ. And let's be honest the general public doesn't understand shit, they buy into whatever you say.

  6. Hi Mr. Im from Philippines, i want to know why its very hard for me to sell real estate. I try to sell in a Mall before i sell beauty products from Israel, We have a kiosk in mall. Then my 2nd job i sell membership cards door to door or direct selling in a field. So i can say that i know how to sell but when it comes with real estate i feel like its so much high price compare to products that i sell before and i feel like its very hard to find a buyer What advice can u give me to overcome this mindset ? Thanks

  7. That all sounds good. So far I have not found a real estate agent who cared about my finances more than their commission. They tried to sell me something I believe won't fit my needs. I believe I could have done the work better myself unfortunately.

  8. Just sold my house and we regret using a real state agent they guy didn't do anything he actually under sold our house by 14 thousand dollars so he can make his quick 8 thousand dollar commission. We could've sold the house ourselves using Grapevine or Comfree but my stupid ex girlfriend was scared to do so and now we both regret it our profit went to this douchebag real state agent…If you have a choice between a Uber ride or a taxi which one would you use thats the best way to compare it. You know if you take a Uber ride you will save money and have a better service, real state agent should be extinct in the near future hopefully… #stoprealstateagents

  9. I’m a newly licensed agent. Ty for these videos, I am grateful for the insight. I agree that human interaction can never be substituted with technology, and it is up to us to communicate that to our clients, through words, actions and care.

  10. Licensed agents have access to the MLS. Which is useful for real estate investors to find deals, find paid cash areas or check numbers.. As long as there are real estate investors there will be agents imo.

  11. ugh i hate those site.. Some of them even try to make the buyer pay his agent the commission so the seller will save 6% but the selling agent will get 3% still from his own buyer.. good luck with that.

  12. Good job on the sale! Correct me if I am wrong, many (if not most) listing in good areas of LA are selling at or 2-5% above asking, in days to weeks? Not saying you suck ;), but isnt it primarily a function of the market rather than due to real estate brokers?

  13. I feel like the real estate brokerages are going to become a lot more competitive, agents are going to need to provide more value to a client rather than just having the backing of a brokerage's name behind them. Having more "stand alone" real estate agents I feel are going to be more popular because they are not restricted by a brokerage. Instead of the brokerage providing the value to a potential client, the agents themselves need to show the value as you explained in your video (being a therapist, saving a client $20,000 etc.). Like you touch on in the video, the value you provided of saving 150k is well worth the price tag of 50k.

    Amazing video as always Graham!

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