Tech and Trust
Recently, I explored the various tech options consumers have available to them in the real estate sphere, and all had one thing in common when compared to the more traditional brokerage model infused with technology (The Compass "High-Tech & High-Touch" model), rather than replaced by tech. They lacked a key element that matters especially when it comes to people's homes: TRUST.
"Technology will only work if it has
people's trust." - Tim Cook, APPLE
Why should you trust an entity that only recommends an agent that has signed up specifically to pay a large chunk of their earnings for that opportunity, rather than an agent who connects you to truly the best agent, the one who truly has the capacity to deliver the best service and has the most specific knowledge aligned with your needs? Should you trust an entity that offers to buy your house for cash - plus many additional less boldly advertised fees - so that they can re-sell it for a profit at your expense......when you could have these upgrades done yourself (possibly financed via COMPASS Concierge?) and reap the profits for yourself? Do you want a salaried employee representing your most important asset who has little - if any - real incentive to build a long career based on performance?
When technology is channeled via the human touch to the consumer, the consumer benefits. Technology on its own has too often proven to be less trustworthy. Maybe that's OK for buying a book or pool supplies, but when it comes to an extremely valuable asset, trust truly matters. Trust is earned over time. Trust is not a simple promise - or set of words - found in a Google search.