An iBuyer is an online investor who uses industry data to determine a fair price for a home. After fair prices are determined, the entity acquires the house and resells it days later at a profit. The real estate tech can be used in various ways, see here for more. Sellers can benefit from this type of technology since they can get a personalized home offer in less than 24 hours. A traditional real estate agent can feel left out with this technology, but they can also approach it in a way that they can work with iBuyers to create a more effective process that creates a win-win outcome for all parties. Herein are ways through which this can be achieved.
Agents need to look at the iBuyer business model to understand how they can strengthen the practice as a whole. They can analyze whether people are attracted to the iBuyer model because it provides speed and cost efficiency, and seek to achieve this in their own practice. This can serve as a useful resource to understand the real estate tech and the iBuyer business model. Instead of letting the technology render their services useless, agents need to improve the service delivery such that the level of service cannot be found elsewhere. Real estate agents across the globe are improving the ways to help them stay relevant, and here are some of how they are making this happen.
Real estate agents are using a focus on the essential aspect of personal connection. By highlighting the personalization of the service they offer, real estate agents are already ahead in this game. This is particularly important to homebuyers because the times are emotional and complicated, and being a huge investment of their lives, such buyers are more likely to entrust the services to a personalized service rather than leaving it up to an online transaction. This aspect is essential in the real estate sector especially for homebuyers, since this being one of their most significant investments, leaving it up to an online transaction may not be an appealing thing to do. Agents need to establish such new relationships and continue to foster those that are already existing. See this real estate tech blog for information about how you can pursue relationships with your clients.
The popularity of the iBuyers move shows that people are returning to their devices to engage technology more regularly. A real estate agent can use such mediums to highlight drone videos of property for sale, real estate tech posts and social media content to attract customers to their business. They can also use some aspects of iBuyer technology to enhance their own service delivery.
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