Here is the latest in a series of occasional articles on “Best Practices” for PSAR members from 2019 PSAR President Robert Calloway.
By Robert Calloway
You might have seen news stories that said, in the future, one of the next jobs to be performed by robots instead of humans will be the role of a REALTOR®. These news reports say that artificial intelligence (AI) may one day equip robots to do some of the same jobs as REALTORS®. For example creating three-dimensional virtual property videos of properties, assisting with office interactions, or communicating various home features in different languages. A 2013 study by Oxford University estimated AI has a 98 percent chance of replacing real estate agents. Some of us may even express concerns over potential layoffs or job loss when automation advocates predict robots will start encroaching on a particular industry.
Well, it’s true that a wide variety businesses have turned to robots to improve their operations, processes and bottom lines. However, for a number of reasons, it’s my belief that robots will never replace REALTORS®.
So, don’t be afraid or fearful. Let not your heart be troubled. Don’t worry about robots showing properties anytime soon. The role of a REALTOR® requires human intuition, reasoning, emotion and empathy -- traits that machines will never be able to duplicate. Human real estate agents are not on the way out. Here are a few of my reasons why.
-- For most people, home buying and selling is the biggest financial transaction they’ll make in their lifetimes. It’s an emotional experience, sometimes gut-wrenching and scary. And, it’s comforting to have a real person guide us through the process and all the paperwork. It comes down to trust. People want to look another human in the eye and judge whether they trust that person to help them make such a big decision.
-- Matching the heart and mind is something that only humans can do. Yes, a robot might be able to match a prospect’s wish list with available inventory. I think we would all agree that home purchases are driven by human intuition and emotion. An experienced REALTOR® can notice subtle signs, read body language and facial expressions, realize when it’s not going well and how things can be changed. We all know that no two buyers are alike, just as no two properties are identical. Last time I checked, a robot cannot think outside the box with a gut-check.
- Everything in life is negotiations and robots don’t negotiate. Machines can’t decipher the gray shades in life. They operate best when the outcome is predictable. Machines can collect data, but humans are better at communicating effectively. Negotiating is everywhere, as are give-and-take reasoning and overcoming the obstacles that are in the way. Humans are best at building trust and rapport with empathy and by showing the other party that you actually understand from where they’re coming. There’s no computer code for determining when a client needs to be guided to accept or decline an offer.
While robots will never replace real estate agents, it’s conceivable that robots may be involved in our future deals. For example, robots may improve the accuracy and quality of information, such as providing precise interior and exterior mapping, home inspection and other functions that would contribute to greater efficiency. AI may help us, with Big Brother-like analytics, to find prospective buyers.
At a recent open house in Southern California, guests were able to get answers from a robot that had been programmed with detailed answers to over 75 frequently-asked questions about the home. The robot also recorded the answers and fed that information into a potential buyer’s profile. In San Francisco, if you’re looking for a place to rent, you can now get a home tour from a tablet-carrying robot. The robot is controlled remotely by a real estate agent whose beaming face appears on the tablet.
It's a novel use of a robot, but there’s one major hitch: stairs. Robots have a hard time climbing large staircases.