Real estate transactions are increasingly moving into the digital sphere, but the owner of Century 21 Australasia says the role of agents in facilitating successful property transactions has never been more important.
While many industries have been disrupted and changed by developments in technology, property transactions will continue to benefit from human-to-human contact, Charles Tarbey says.
“The Australian real estate market has experienced a period of strong growth and many may believe that homes are virtually selling themselves and that an agent’s role and value in a property transaction should be questioned,” Mr Tarbey said.
“While there is no doubt that emerging technologies will reshape real estate in Australia, I believe agents are adding enormous value in the market and this will endure as they can do many things that I don’t believe technology can.”
Mr Tarbey said a transaction’s success can be affected by the way the conflicting objectives of the different parties are handled, something technology cannot manage.
“Agents can be very good at helping buyers and sellers take some of the emotion out of what can be an extremely emotive process by providing sound and pragmatic advice and through building personal rapport. It remains to be seen whether technologies will be able to add value in that way.”
Mr Tarbey is doubtful most Australians will entrust the sale of what is typically their most important asset entirely to a digital platform.
“I believe Australians will be increasingly relying upon local experts who are experienced, connected and know the area well to make the most of their investments,” he said.
“Disruptive platforms may be offering cheaper or DIY sales options, however, those willing to invest in a good agent may reap the rewards, should they achieve a price well beyond expectation.
“Seamless marketing and refined negotiation skills will become increasingly important in a changing market, and we will begin to see the talented agents thrive compared to the agents who have jumped on the bandwagon at the top of the market. These are the agents who you will want on your side when it comes to achieving the best results for your property.”