I Am Worth MORE Than A Robot - I Think!
So… my mother-in law gave me an article written in Newsday’s LI Business section from Monday August 7th, 2017 entitled “Selling Homes Online Listing, 2% fee…..” with the subtitle “Tech company starting “big data, “robot” real estate operation on LI.”
The gist of the article is that a company from California has opened its first Robot company in Uniondale after having some initial success in California. They are touting a lower commission rate by getting rid of a lot of the support staff and expensive marketing practices currently used by traditional brokerages such as ours. A home that utilizes this Robot technology will have a tablet-like “robot” named REX that will be stationed in listed homes that is programmed to answer some 75 typical questions.
The company will provide an agent to let buyers into the homes. They will not utilize multiple listing for their marketing.
My mother-in-law and brother-in-law asked me what I thought about this after I read the article…
A myriad of thoughts and people sprang to my head.
What about the older generation who are used to sitting down and talking through the details of the deal and need to have explanations and assurances of how the process works today vs. when they bought their house 40 or 50 years ago. I thought of my dear client Maggie who was 84 years old when I helped her move from a 4700 square foot house into a 2 bedroom apartment- and we had a “move manager” work in conjunction with a moving company so that her apartment was set up in 48 hours with every box unpacked- every picture hung- so that she could move into that apartment and not feel the trauma of the move. Could a robot manage that?
I couldn’t imagine her wanting “Rex the Robot” in or around her property.
I imagined her being a buyer- and having to utilize a robot in order to ask questions. I couldn’t imagine that either.
I thought of a recent experience at Quest Diagnostics where they had switched to tablets for signing in- and me being pretty tech savvy not being able to figure out how to change the screen from Spanish to English… and then after I did figure it out- the next group speaking Spanish and Not being able to figure it out at all…. And the jam up of the line and people getting upset that there was no-one to talk to to try and figure out the system.
Or comparing it to the grocery store self-help lines where the one staff member devoted to this system is busy all the time fixing the machines after people have problems.
I am curious as to what happens when one of the questions asked of the computer isn’t one of the 75 questions pre-programmed- what then?
There are currently almost 23,000 Agents that are affiliated with the Multiple Listing Service on Long Island (one of the largest groups in the country) and they are not going to be utilizing these agents to sell their homes? So who is going to help these homeowners sell their homes?
For anyone who has bought or sold a home recently, you know the process is extremely stressful and there is a lot of emotion involved in the entire process. You are selling a place that you have called “HOME” and moving to another place that you hope will be better than the place you left behind. Many times this move is not by choice. Job loss, divorce, a death in the family, medical issues-these are all reasons people have to move, which makes a difficult process even more difficult!
With HGTV programs- buyers expect houses to be perfect. No clutter, not too many personal items, no toys strewn about (I joke that I have been in real estate when kids could actually PLAY with their toys when I showed a home!!!). With cell phones- the buyers want to schedule an appointment immediately- when they are driving by- so a house must be ready to show instantly. More stress!
I think the value of your Realtor is being able to answer all your questions as situations arise. We can listen, guide, encourage, advise, assist. These are qualities we give to both a buyer and a seller. I think that this is a business that doesn’t fit into a computer program of algorithms….. it is a PEOPLE business- where people need their Realtors to answer and guide them through the whole process.
When I look back at my career in Real Estate (and I do call it a Career) I feel the greatest accomplishment of this job is making a transaction happen as seamlessly as possible……. And solving problems as they arise (and the problems can be endless!). The process is exceptionally emotional and exceptionally stressful- and I believe Professional Realtor can make all the difference…..
so… I like to think we truly are worth more than a Robot!
What do you think?
Our Changing Market and How It Affects You
If you or anyone you know has been looking to buy a home recently, you are sure to hear some very interesting stories as our market takes a very sharp turn to an extremely favorable sellers market.
Some of the challenges that buyers are experiencing can only be explained with an explanation of the market conditions. You fall in love with a house and make an offer, only to find out there are multiple offers on the property and your agent tells you to come up in price. You come up in price, but its still not enough. You lose the bid for your “dream home” and have to start again. How is it that a highly qualified buyer can’t find a home?
It’s a struggle most home buyers are facing now. The market dictates our path of home ownership. A sellers market occurs when there is little inventory, and great interest rates on mortgages. There are more borrowers approved then there are houses to fulfill the demand. This easily becomes a sellers market and a higher price point is obtained through a system called supply and demand. Homes are selling higher than expected because we have a shortage of homes.
An experienced realtor can help you get through this difficult market, but it is important that you choose someone with experience in this type of housing climate. A seasoned agent will be able to walk you through this process and best advise you on how to obtain your goals. Most importantly, once you obtain an accepted offer, you should work expeditiously to have that home inspected so you may move to contracts. Remember your deal is never secured until fully executed contracts are signed!
Likewise, we at Meg Smith and Associates stand ready to help sellers in this market negotiate the best offer for your home, and follow through in the most professional manner. Call us for all of your real estate needs!