Close your eyes for a moment and imagine a world where real estate is as liquid as shares of publicly traded companies. This is the future we are building towards, and, just as there are no brokers involved when you place your buy and sell orders for shares of stock, there will be no brokers or agents involved when you buy or sell whole or fractional interests in real estate. This applies to all forms of real estate including residential (primary residence, investment), commercial and land.
To be clear, we have nothing against agents. Most agents are hard working, ethical people who look out for the best interests of their clients and customers. Many buyers and sellers prefer agents, and this shift to an agentless real estate market is going to be slow. The market forces of technological innovation, consumer preference, and legislative reform are taking hold and all agents need be aware of this transformation and proactively adapt. One way the most forward-thinking agents are adapting is through increased exposure to off-market listings. On this note, we invite all agents to subscribe to off-market listings to add more value to their buyers.
Safe agentless transactions can benefit the consumer (buyer, seller). 6% is a lot in any transaction, let alone a transaction for such an expensive asset. On this note, percentage-based fee structures seem unfair to buyers and sellers transacting higher value properties.
When you look carefully at the traditional real estate transaction, you can't help but to feel as though perhaps we've lost sight of the two parties that matter most: buyer and seller
We need to demystify, simplify and standardize the real estate transaction and empower buyers and sellers to transact safely without unnecessary costs, delays and frustration.
The traditional real estate transaction flow is remarkably inefficient and chaotic. A radically simplified transaction flow powered by thoughtfully designed technology is going to change that. Consumers, buyers and sellers, will benefit.
What do you think, is the future of real estate agentless?
Written by: Daniel Sperling-Horowitz, CEO of OfferMarket