And now the disruptors are disrupting themselves

By Tami Bonnell, Co-Chair, EXIT Realty Corp. International

Recently we’ve witnessed a lot of disruptors disrupting themselves. A perfect example of this is Zillow’s announcement that it is ceasing its iBuying operations and reducing its workforce by 25% due to massive losses in that division.  In my opinion, this confirms what many in the industry have been saying for years: automated valuation models are flawed.

And while this move is a significant disruption, the truth is, you cannot disrupt skillset and personalization, both of which are lacking in many iBuyer operations.

This is the experience economy, and home buyers and sellers want and expect a great experience. The consumer has always asked these three simple questions:  Do you care about me? Can you help me? Can I trust you? It is paramount for agents to have that skillset and personalize their service to their clients so they can answer those questions in the affirmative.  

To home buyers and sellers, I say this: It’s much easier to trust a live person.

Your real estate professional can ask about your real estate dreams, where you see yourself in the next one, three, or five years.  They can ask you to paint the picture for them and help them to understand.  The answers to these questions will help them serve you to the best of their ability.

The number one dream for most people is to own their own home.  The mortgage payment for a consumer is, on average, 28% of their gross monthly income. That’s a big investment to turn over to technology or inexperience.

There are no guarantees in this world, but having a skilled consultant on your side who is working directly for you and has your best interest at heart is the smartest decision you can make. 

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