Technology-enabled companies such as Redfin have brought about changes in the operation of the real estate market. They have negatively impacted traditional realtors since they aim to redefine real estate to favor consumers.
The following are changes in the real estate market that have resulted from Redfin corporate agents.
Dying of Standalone Realtors
While some people still prefer having people who can take their time in making these important financial decisions, their need is slowly becoming obsolete. Redfin has had an immense impact on the selling and buying process. Nowadays, people are using online services to make their purchases without the need to visit realtors physically.
Cheaper Home Selling/Buying
Additionally, Redfin agents connect with a buyer or seller quickly, making the process faster and even less expensive than traditional agents.
People who have been previously skeptical of online real estate services are now considering such services. Within a short period, you can get your dream house also at affordable rates instead of a real agent’s services.
Use of Technology in Real Estates
Another tremendous change Redfin has come up with is the 3D walkthroughs or homes. In real estate, seeing is a critical step in home buying. The technology enables a customer to see through a home before visiting. It provides a high resolution, an interactive view that is powered by 3D technology. This technology has brought better convenience throughout the process.
Redfin brings about a better experience with its continuing investment in technology. With different technologies at hand, they have ensured home buying or selling is convenient. Virtual reality enables one to view a house in the comfort of their homes and get a real impression of the house.
Real Estate Processes Across Boundaries
A traditional realtor is only able to perform processes to locations around them. The virtual technologies allow Redfin to penetrate a more extensive market throughout different areas. This real estate agent allows one to search for houses in different cities at a click of a button.
Home Purchases Without Agents
Redfin brought a new venture that enables house buyers and sellers to buy properties without an actual representation. It, therefore, saves on the commissions they would have to pay.
With the new growing generation, there is a different set of consumers coming up. Most people are now more confident in technology. Buyers would prefer information based on facts rather than the contemporary use of agents.
In the past, the physical and online worlds were seeming different. With the current use of technology in almost all industries, the real estate industry didn’t need much technology. People are skeptical about closing big deals online; however, Redfin and several iBuyer platforms have seen the change of these perspectives. The inclusion of high-end technologies and efficiency in processes has towards growth. They have hence changed how people viewed the real estate market.