Are real-estate agents becoming obsolete? Hi. My name is Yasser Khan and I'm the author or property agent secrets book which is the most powerful book in the real estate industry guaranteed.

So there are many agents out there the many people out there who say that you know the agent's job is going to be extinct and it it's a worry it is you know pulling the hair out of frustration they see all these DIY portals online property portals popping up and you know technology is coming up you know there's a lot of new technology out there which wasn't even you know it didn't even exist even five years ago even two years ago right so you know many people are saying that you know real estate agents won't be around and all the processes are being automated and transactions are happening without agents and you know directly you know buyers and sellers are able to you know leverage online platform you know Internet of Things for example you know artificial intelligence AI and a lot of algorithms to get things done and you know many agents are now worried and this which is understandable at you know the rapid change of pace in technology. Technology is changing very very rapidly right so it is a very worried about their job and their stress and yeah you know questioning themselves should I continue being an agent should they renew their license should they even become an agent in the first place or not you know and they're asking all these kind of questions right so right. So what's the answer? You know you think that you know real estate career is going to be extinct do you think that our jobs are going to be taken away and in this video I'm gonna answer it and my short answer is no. They're not. Agents are still going to be around it is still going to be providing services that they provide to buyers and sellers to that client just that that the way that buyers and sellers and agents communicate is going to change and the technology is already changing drastically dramatically and you know the way that agents are going to serve even some of the job that they do may be replaced with technology right. But what thing, the one thing that technology can never replace is the human touch. right So you know a bit of a background a bit of a thing a bit of this context Let me give you some context right. You know as long as there are human beings on planet earth you know the basic necessity of every single person is a roof over their head you know and that need is never going to be you know she's never going to change humanity human beings are still the same in future. 100 years from now they will still need a roof over their head. A man who provides for his family will need a roof to provide you know to keep his family safe to keep it keep his kids safe right? So the same need like the need for food the need for water the need for air the need for you know comfort and safety you know the need for shelter takes precedence right and it's one of the very very basic basic necessities of life you see right so property is you know something that you know will always be in demand because you know in especially on earth and especially in Singapore right land is scarce right so the value of property is always going to be go up but sometimes it the only the rate of the increase in value changes but ultimately you know land will become even more scarce and the value of properties will go up and property will always be in demand right. So as long as there are people as long as there are properties waiting to be occupied waiting to be bought and sold as long as there is a need to fill there will always be an agent to you know make the buy and meet up with the seller. Agents will always be there and his job even hundred years from now will not go out of you know seriously will not go extinct will not go obsolete maybe some of the things that agents do for example, right the information and all that will be totally automated and in future they won't have to do that. That's a good thing. You know this one less job that you have to do right. As a real estate agent right you know many real estate agents says that you know when to ask them what do you do? And they say I sell houses right. but the thing is that telling the actual selling is just one tiny job this one tiny job out of thousands and thousands of other things that real estate agents do right. You know they put up an ad they they they get back to reply to the answer the replies reply the question and people asking them questions about the house agents reply and then the book apartment they add them to show them around right. So only things you know part and parcel of the job of realtor right. The thing is that some of these jobs are already being replaced by technology that was impossible you know there's something you know called API which is you know a way for to website you know to communicate right. Especially in Singapore you should take a look at the government. How the government does it is using this precise technology that's how one agency is able to communicate with another agency automatically. So you know only things happen behind behind the scene right - it's fully automated right and many of the technology for example like KGB is able to pass on a lot of you know pricing information to URA and vice-versa. How's that possible? That's possible because of technology right. So new technology is already replacing some of the job that agents used to do. 20 years ago agents used to or even 30 years ago they used to compile all these data by hand by writing right and you know seriously even before computers were they had they had to do it manually right and there was no data there was no you know portal which keep track of all the pricing information so you know right now I mean in those days you didn't have to do it manually all right fine it is not all you have to do that so the rate of Technology you know the rate of things at the at the way things are changing right now some of the job that agents are doing will be replaced by technology. That's it, right? But even though it's fully automated right you is still the buyer we still need to see the house right and the buyer will still need to speak to someone because don't forget real estate is a big-ticket item right. It's different from buying something else like a small pen right. You can buy over the internet because it's cheap you don't need to take a look at how the pen writes. You just buy a pen just cost $1 right but real estate it costs 1 million dollars and that's a lot of money and this buyer will definitely you know feel more comfortable if you actually go there and look at it right and he you know look at the house look at you know the location and all that. They need to do that and as long as buyers need to do that right and buy it definitely are not experts in the home buying process right you know you know you know right now we have the DIY culture coming up a lot of buyers do want to engage agents even sellers all the way. You know sellers for say by owners are still around so quite some time right. You know but the fact remains that agents are professionals right. Agents you know they did the study for a license. They get a license. So their role is licensed right and ultimately you know you know not everyone can become an agent you know unless they get a license and they you know meet the minimum requirements right. So this is a very regulated industry. It's a profession right so the profession of real estate will still be there except that you know somethings are gonna change right like for example one-man-show agents they are going to get extinct yeah of course because you know they are doing every single thing and you know it's no longer perform profitable for them they don't know how to get enough client they don't know how to you know close those clients more of those clients and don't know how to give them great customer service and then they can't keep can you know keep those customers coming back to them those customers are leaving to other agents buying from that competitor right so one-man show is doing every single thing and he's not doing any one of them very very well right and he is the first casualty seriously. He's gonna be the first casualty right. So you know in future you see more and more mega agents capturing a larger and larger share of the industry. Why? because he goes specialists they who take care of specific areas of real estate right so that is how you know real estate is going to transform in the next five to ten years and the seriously real estate agents if people tell you that you know they're going extinct that's not true.