Over the last few years, traditional real estate has been disrupted and has lost top producing agents and market share. Almost everything regarding residential real estate has moved online. What are the top reasons why traditional real estate has declined, and what does the future look like for this industry?
Here are a few of the disruptors of traditional real estate and what is predicted to happen as we move forward.
Consumer Buying & Selling Behavior
During the past decade, most residential real estate went completely online, which changed consumer buying and selling behavior. Real estate brokerage used to control access to information about homes for sale. Consumers used to think that the real estate business with the most signs and advertisements was the best option.
Nowadays, homeowners don’t solely rely on how popular a real estate company is. They have taken it upon themselves to do some work and research before committing to a realtor if they are still considering working with one.
As previously mentioned, information on houses for sale can be accessed online. Many websites such as Trulia, Zillow, Realtor.com and more provide valuable information for free. Homeowners can easily list their house and sell it on their own without paying any extra fees.
The Future of Real Estate
Now that there’s access to so many tools, it’s likely that homeowners will start taking matters into their own hands when it comes to selling their home. They can decide whether or not to work with realtors, or they can sell online to professional home buyers, for example. When they sell online or on their own, they won’t pay any extra fees, closing costs, and many home buying companies don’t even require repairs.
Professional Home Buyers: Henry Buys Homes
Henry Buys Homes allows you to take control of the situation and avoid the hassle of selling. By filling out a short form, you’ll get a fair all-cash offer in as little as 24 hours. Our entire process from beginning to end is free; you won’t get charged any fees. Selling with a realtor is a thing of the past and takes too much time and money to get it done the traditional way. Henry Buys Home is ready to buy your house now.