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Changes in the brokerage industry due to digitization

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Despite the ongoing digitalization in the real estate industry, there will be no way around classic brokers in the future. However, they should not ignore the advantages of digitization and implement things like transparency and digital data management in their daily business.

Digitization as an opportunity

As part of a publication, Wüstenrot Immobilien GmbH presented the changes in the industry due to digitization. The digitization process, which has been going on for around 20 years, has already gone so far that virtual object visits have been common practice for around two years. This is currently driven primarily by “Property Technologies”. These so-called “PropTechs” try to optimize real estate services and describe the technological developments in the real estate industry. In addition to faster and more efficient processes, the resulting online brokers also bring significantly lower prices. One of the best known platforms, “Maklaro”, was founded primarily on the shortness of breath of formality with classic brokers and the uncertain waiting for an answer – or, as in most cases, for a refusal. On the platform launched by Nikolai Roth, almost all steps are carried out digitally. According to the motto “Digital First”, interested parties can download the respective exposé, arrange viewing appointments or even submit bids.

But classic brokers also have numerous alternatives to integrate the technological possibilities of digitization into everyday work. Sun Jesch, managing director of the real estate association IVD, recommends above all “Flowfact”. With the help of this software, brokers have access to their entire portfolio, which is stored in a central system, at any time. In addition to ready-made synopsis, this program also offers the simultaneous placement of advertisements on almost a hundred real estate portals.

Classic brokers indispensable

Despite all the advantages that digitization brings, classic brokerage will continue to be indispensable in the future. According to Jochen Dörner, Managing Director of Wüstenrot Immobilien GmbH, software and online solutions will be important assistance functions for everything to do with business. The entire mediation process still requires specialist knowledge, social skills and negotiation skills. As an example, he shows the market price determination of a property for sale using databases. Although these are rough guidelines, they are not sufficient for a balanced and fair assessment. A specialist has to calculate the actual value individually.

Brokerage business of the future

According to Dörner, five pillars will shape the brokerage business of the future. Real estate agents need to develop more into service providers and networks and make sufficient investments in digitalization. Such networking is essential, brings added value to the company and generates important contacts. In addition, digitalization is indispensable for communication and information and, coupled with social skills, a sound specialist knowledge and negotiation skills, should lead to a successful future venture.

Image sources: IR Stone / Shutterstock.com





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