08 Jul Robots or Realtors?
Nadia Colucci, a San Diego native and seasoned real estate agent (and Co-Founder of North Compass Realty), is joined by Derrick Evens, host of Smarter San Diego (SSD). As an interactive Facebook Live talk show, SSD focuses on creating the best real estate and financial related content in the Greater San Diego area. In this episode, Nadia & Derrick discuss whether or not real estate technology is helping or hurting the home buying/selling process… watch the episode to find out more!
We all know that change is inevitable; however, is the direction we are progressing in technology going to benefit us or hinder us in the long run? Although there are inarguably positive benefits to these online real estate database platforms, both Nadia and Derrick would argue that they also pose as a detriment to online buyers and sellers. The convenience of being able to view properties immediately may help a buyer to focus and narrow down a specific area or type of home, but it is important we all know that these platforms should just be used as a quick reference and that they are not always accurate. Algorithms can’t account for all forms of value when estimating a dollar figure for your home’s worth. Sellers and buyers often get stuck on predetermined estimated home values, which can skew their expectations. This can lead to longer market times, missed opportunities, and a decrease in asking price. There becomes an unrealistic expectation that both buyers and sellers can have by trusting these platforms fully. Nothing beats the guidance of a serious professional who has their feet on the ground; has been through multiple real estate cycles; and knows their industry in and out.
“I don’t think you can replace a human, and I know in some cases they are trying… I would never feel comfortable: #1. Borrowing all this money from a bank that I am liable for and #2. Putting my own hard-earned money into an investment that a computer told me to buy. That’s hundreds of thousands of dollars!! You’d better be sure the computer doesn’t have a glitch that day” – Nadia Colucci
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