The traditionally stale real estate industry is starting to evolve faster due to advancements in automation and new technologies such as AI and blockchain. These technologies bring the opportunity to tackle the well-known inefficiencies of the real estate sector.
As a result of these changes, real estate agents will need to adapt, or they will risk being left behind by the competition.Fast advancements in novel business models impact the real estate industry. According to, a General Partner at Andreessen Horowitz, home-buyers and sellers have grown accustomed to the rapid, on-demand delivery of services and goods brought on by the recent advancements in technology, and they expect no less when they decide to enter the real estate marketplace.
eXp Realty’s business approach makes the roles of its agents unique. For instance, as part of the company’s recruitment program, agents receive incentives for attracting other agents to join the brokerage. Proactive agents participate in revenue share, and successful realtors become shareholders in the company.market cap of eXp World Holdings Inc. is $605M
Despite these “back-office” organizational and management changes in large brokerages, the client-facing side of the agent’s role does not change much. Regarding the question of whether the role of a realtor is changing, Glenn Sanford, CEO at eXp World Holdings, stated, “I don’t think the role changes that much. [With technology, there is] still the trusted advisor working with a consumer through the entire transaction given the size and complexity of a real estate transaction.
On the subjects of technology for the real estate community, Richard Teed, the first founding partner at Compass, San Francisco and the principle of Teed & Co, stated, “Real estate is just one area where smart contracts will record just about everything there is to record.”
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