Should agents worry about being replaced by tech?

A 2013 study from Oxford University estimated that artificial intelligence has a 98 percent chance of replacing real estate agents in the future. While AI and technology will definitely cause disruptions, most people in the industry recognize that there is an X factor that robots and AI can’t account for and that only Realtors will be able to serve.

“A big piece of buying and selling a home is emotion and so far emotion can’t be programmed,” Wong says.

Reagan agrees and points out that the technology that is coming out is less about replacing the real estate agent and more about refocusing consumers and the quality of service that an agent provides.

“Real estate is such a people-driven business,” Reagan says. “If you look at what tech is and what has been done in the industry today, it’s made good agents shine more.”