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Technology Helps Agents, Not Replaces Them

The relationship between real estate information providers and agents is necessarily symbiotic, not adversarial.

By Richard Du March 27, 2014
Credit: Green Chameleon

Zillow CEO Spencer Rascoff on CNBC’s Squawk Box yesterday explains why real estate agents aren’t being replaced by technology.

The relationship between real estate information providers and agents is necessarily symbiotic, not adversarial. Rascoff explains agents earn their commission because they are both integral, and that their services add value to the transaction. That’s pretty much boilerplate stuff but his third reason has an interesting take away, Rascoff explains:

“The profile of a successful agent has changed. To be more of a transactional consultant. Somebody that is more of an expert in the local market; a great negotiator. Rather than just an information gatekeeper.”

We couldn’t agree more. As technology continues to democratize data, and increase transparency in the market, the playing field will continue to become more level. Technology has the capability of shortening the learning curve for new agents, as well as creating efficiency for successful more established professionals. In both cases technology has a positive effect on all market participants.

Richard Du

ABOUT THE AUTHOR Richard Du

ABOUT THE AUTHOR Richard Du

Richard Du, founder and CEO of Agorafy, was born in Vietnam and raised in the United States. As a child, he worked to support his family until he had the chance to immigrate to the America. Here, he began his career as an agent at Helmsley Spear, which he eventually parlayed into a lucrative real estate business. More than a decade later, Mr. Du is at the helm of Agorafy.

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