One of next week’s “Provoke” panels at the Inman Connect New York conference asks the question, “Will technology kill your commission splits?” You bet they will — if you’re not prepared to adjust your value proposition to fit the tidal wave of new artificial intelligence (AI) real estate tools that are already dramatically transforming our industry.
- For close to two decades, tech gurus have claimed that advances in technology will increase the number of for-sale-by-owners (FSBOs) -- but this hasn't happened.
- However, the agents’ role as gatekeeper of the listing data has already been eliminated.
- Artificial intelligence is already transforming the home-search and pricing processes.
- The real work has always been on the back-end of the transaction, and agents will need to redefine their value propositions for consumers.
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