Is Technology Making Real Estate Agents Obsolete?

It sounds like a great idea, doesn’t it? If you sell your property yourself, you don’t have to pay the realtor’s commission.

According to a recent Denver Post article, lots of homeowners are doing just that, but if you’ve been reading our series about Fair Housing law, you might have an idea why hiring an experienced professional can keep you out of serious trouble.

In the age of real-time online property listings, 3D video home tours, and electronic signatures, more and more people are foregoing the aid of a professional and selling by owner. Many of these do-it-yourselfers are leaning on technology, thinking this will help them save money by not paying realtor fees.

Technology is changing the real estate industry by making the market seem accessible to untrained investors as well. The internet has endless information about a property’s neighborhood and the projected value of an area in a decade. Buyers can even find articles about the process of obtaining a property.

However, buying and selling a house is still a complex legal transaction that can go awry in many different ways. Buyers and sellers can violate the web of laws governing the process without even realizing it, exposing them to the potential of future lawsuits.

There is no substitute for the experience and expertise of a real estate agent. A licensed realtor helps the buyer avoid unclear expectations, bad deals, or unwise investments. In some cases buyers may not even be able to win a bid unless they are competent in negotiating real estate deals and writing contracts.

Most people simply do not have the time and resources to adequately understand the market and laws governing real estate. Technology can make the process seem simple, but just as you would hire a lawyer to handle an estate, it makes sense to hire a realtor to help you in what can be the most expensive transactions you’ll ever take part in.

Blue Mountain Real Estate recognizes the benefit of technology; we use top-of-the-line software to efficiently care for your property and communicate with you, the owner.

And don’t forget that if you’re ever looking to invest in additional commercial or residential properties in the Colorado Springs area or sell a property, we can help you with that too.