There is a lot of discussion right now in professional real estate circles and the media about the future of real estate: The future of the market, obviously, is always on everyone’s mind. But also, the future of the industry and how properties are bought and sold. It’s a huge industry, and one that went long without much change. Now almost weekly we read about new features and concepts, mostly technology driven, that are promising to revolutionize the industry in its own way. But is new technology always progress? Are all things better when accomplished from the comfort of your sofa?
The technology sector is betting on the consumer’s desire for ease and speed to entice them to buy and sell homes in just a few clicks on-line. We admit we’re biased considering our profession, knowing well about the challenges and myriad moving parts in the process. But, taking us out of the picture, we still wonder about the viability of buying and selling what is often one’s largest asset virtually, and without an advisory relationship.
We’re big fans of technology when applied effectively to enhance the consumer’s experience. A large determining factor in our decision to move to Compass this year was the forward-thinking, technologically-advanced platform that is client-centric, and by client-centric also agent-centric to advance how we help our clients. Literally every day we are alerted to upgrades and updates on ways agents can collaborate with and improve clients’ buying and selling experiences with technology. But equally, we discuss how we as brokers interact with the technology to enhance our relationship with and advisory services to our clients, which we can’t see ever being replaced in the process.
Real estate is unique in many ways and doesn’t fit into an easy algorithm. Properties aren’t stacks of shoes waiting in a warehouse for delivery. Properties, whether a cooperative apartment on Park Avenue, a townhouse in Brownstone Brooklyn or a farm in Maryland, are inherently unique and speak in emotional terms to both seller and potential purchaser, and the issues with buying each are inherently unique. Reducing buying a home to a merely virtual transaction would at best devalue property. The attempt commoditizes a complex personal purchasing process and ultimately devalues the consumer and their needs.
Manhattan Market Activity
Highlighting our market's past 30 days.
Our month's featured listings on the market.
From the cool and eccentric to reserved and irreverent -
Our month’s pick of what's happening in New York City.
If you haven't already, you should:
The TWA Hotel at JFK
Book a staycation and watch planes take off, poolside.