The advancement in technology and automation is one of the main reasons that the real estate industry is evolving faster than ever. Technologies such as blockchain and AI have created more opportunities for agents to tackle their inefficiencies in an outstanding way. However, estate agents who are unable to adapt these changes may have to say goodbye to the industry.
- Agents will have to do more!
In previous years, agents used to work at a limit but now they have to do more because these days, clients expect services to be carried out much more quickly. So, the agents have to take faster steps in order to meet the client’s expectations. Well, a common perception in the market is that blockchain may put many realtors out of work but this isn’t necessarily the case. The advancement should be taken in a positive way and the only thing that is required is to adapt the changes efficiently.
- The Role of Agents didn’t change much!
Although back-office and management changes have come about due to the blockchain, the role of agents hasn’t changed much. Experts say that it has become easier for realtors to tackle complex transactions however, coping with the latest reforms is important. Blockchain isn’t limited to cryptocurrency like Bitcoin, it has significantly impacted real estate transactions as well.
- Additional Revenue Possibilities for Realtors!
The traditional process of buying or selling a home is undoubtedly a time-consuming procedure which can cause an unnecessary delay in earnings. Now with Blockchain, realtors can see instant results by carrying out complex transactions within seconds. This means that qualified estate agents in Covent Garden should strive to improve their technical skills.
- Blockchain has turned Realtors into Data Minors!
The intermediaries who play a significant role in the buying and selling of property can hold a prominent position by combining distributed ledgers with the latest technology. The introduction of Blockchain has given agents the capability to use and organize data efficiently, with minimal chance of errors. Agents can store key data with Blockchain without having to worry about hackers. The data will be processed securely between buyers, intermediaries, and sellers meaning that agents won’t have to pass the data back and forth between the relevant parties.
- Blockchain has eliminated the chances of Falsification!
Fraudulent activities occur when data is being mishandled. The use of Blockchain has eliminated the chances of falsification, making the whole process of buying or selling property smoother than ever.
In short, Blockchain didn’t put the role of estate agents under threat nor do they need to say goodbye to the industry. However, if the agents take this advancement in a positive way, a better career can be ensured.