Real estate agents are under attack
Real estate agents are often criticized for being slow to adopt new technologies. Yet if you take a closer look, many of the technologies they've failed to adopt are coming from companies with a long term goal of eliminating them completely. Of course they will be hesitant.
Look at Matterport. It seems like a cool tech to help buyers do virtual walkthroughs. Yet let's not forget that it eliminates the agent from the walk-through process, and their goal is to make it even better at helping buyers do walkthroughs without you.
What about Opendoor? Their business model relies on cutting out agents entirely. So far they have pushed buyer agent commissions down to as low as 1.5% in Atlanta, and they plan to use funds from their recent reverse IPO to do the same to 50 more markets in the United States.
And then there's Zillow. Agents spend thousands a month on Zillow leads, yet they just announced that they will start hiring their own agents. Who do you think will see the leads first - you or a Zillow agent? Also, Zillow will likely push down agent commissions like Redfin. Their commissions average 2%.
What can agents do to protect their future?
There is a way to fight back. Start posting house tours on Yaza!. It's literally that simple to do your part, and thousands of agents across 42 states are already doing it. Yaza assures agents a role in digital home buying by putting them at the center of our platform.
Why is Yaza agent-centric? Because that's how homes are sold now, and 89% of buyers still want to work with agents. Yaza combines a social network with a real estate marketplace to capture the social way agents and brokers build their networks, attract new buyers, and close sales. If instagram, google maps, and slack had a baby together, it would look like Yaza.
So will SV startups succeed at eliminating realtors?
The answer is that it's up to you.
Real estate agents have the collective power to take back real estate by disrupting the disruptors coming out of Silicon Valley. By recording home tours on Yaza and sharing them with buyers, you are taking the first step toward taking back control of your future. And if you become a preferred partner, you can even earn stock in Yaza and share in our collective success.
So join us! We are building a movement! Start by downloading Yaza here (for iPhone only until 2021).