The tech revolution hasn’t reached real estate or the medical field yet… but it’s only a matter of time. Sooner or later the new generation will demand online services.
My dad is 76yo. Years ago, I bought him a computer and showed him how get online. He takes medication everyday for his prostate problem. I finally convinced him to order his meds online for postal delivery — more convenient and cheaper. Dad’s adjusment has been gradual with consistent progress. He now makes his travel arrangements and reads all his newspapers online. I don’t think that he’d buy a house online, but he would use ziprealty if I showed him.
I can assure you that that the generation that’s growing up with broadband, IM and SMS will be buying houses online. I’m sure that my nieces and newphew, when they grow up, would not use a traditional Realtor. Heck, they don’t even like the sales people at the store. They know what they want and they demand easy access to information. They are unlikely to deal with information gatekeepers.
There’ll be some busts along the way, but tech will affect every aspects of life, including real estate. There is no reason why buying and selling houses cannot be more efficient and less costly than it is today. In a booming market, inefficiencies are masked; but in a downturn the cost cuttings will begin.
