Make automation work to your
If you think robots are the least
of your problems, you might be wrong. Recently, a study released
the list of jobs that will soon be automated. It includes even the
oldest professions in the book such as farmers, taxi drivers and
even movie stars.
But imagine this: real estate
brokerage that can be accomplished using online platforms such as
Lamudi, OLX or Rent Pad. Payments can be done using Bitcoin or via
credit. Lease agreements or contracts can be signed using
e-signatures. There are many tech tools available or being
developed that will streamline the process of acquiring
KMC Savills Managing Director, Michael
McCullough, believes that real estate is already breaking
ground online. The future of the industry is expected to go for
automation and gearing towards becoming a paperless system. He
pointed out "you might not need to shake hands anymore".
But can it be done without human
said that this cannot happen overnight or in the immediate future.
Automation might be inevitable but it will happen in "small and
slow changes". He also noted that being paperless is not going to
be easy. Buyers and clients still prefer tangible experiences when
it comes to real estate. Clients are more comfortable with having
hard copies of documents in their hands, as well as having direct
communication with brokers.
In short, property acquisition
remains as a human experience. While some aspects of the industry
can be automated, the negotiation, knowledge, and expertise of the
market are still beyond the reach of AI. Zillow's Rich Barton
concurs that "Artificial Intelligence is an enhancement, not
displacement" and that only select
industries will be affected by the
change. Instead, bots are seen to assist in real estate
transactions rather than take over permanently.
Technology tools can work
harmoniously with real estate workers in information spreading or
doing menial tasks like advertisements or promotions. Most people
still do their initial searches for property online. McCullough
also pointed out that it's easier to market buildings now because
online tools or social media made it easier to connect with an