Will Technology Replace Real Estate Agents?

Will Technology Replace Real Estate Agents?

Technology has been evolving rapidly over the years and has changed the way we view and buy things. There is a wide deployment over the use of virtual reality, augmented reality (AR), artificial intelligence (AI) and mixed reality already changing the real estate market and the house hunting experience in the UAE. With the increased digitization, are real estate agents still relevant? Will technology replace them? Will it take the role of the eliminator or the facilitator?

It is a fact that real estate agencies have started using virtual reality tours. With more and more people investing in Dubai’s real estate, this has played a significant role in the buying or leasing of residential or commercial space as it’s a time-saver, accessible online and inexpensive for buyers, sellers and the real estate broker to preview a realistic and detailed digital environment with minimal frustration.

For buyers, it creates an instant sense of ownership therefore a likelihood of purchasing the property and off-plan projects in Dubai. The more time they invest, they’ll feel committed to reach out to you. However, it will not eliminate the physical existence of real estate agents.

From an investor’s perspective and an end-user’s perspective, most people still want the touch of real estate and be on site to view the property once it’s ready. There needs to be place for human interaction. Humans are more reassured by the presence of another human being. Relationship is key to allow a two-way communication between two parties. They answer questions and concerns and provide reassurance intuitively.

Technologies such as virtual reality tours can focus on allowing the buyers to view properties without having to rush to meet the needs of the buyers, but people do need advice and a personal touch.

With the rise of technologies and companies compete to being early adaptors of digital programs and software, this encourages real estate agents in Dubai to up their game and understand its full potential. Agents are the curators of the real estate buying and selling experience and guide buyers through the process.

Technology has its advantages and disadvantages. In real estate, buyers can be physically or virtually teleported to a property. It’s the pivotal part of the home buying experience and has shaped the future of real estate agencies in Dubai. Everything is mobile today in real estate but it will not replace real estate agents in Dubai. It’s not about elimination but evolution, while technology is a facilitator than disruptor.