A few weeks ago I asked the question what is the future for real estate? You can read my article here. Do you remember what Netflix did to Blockbuster? Do you remember what vending machines did to soda jerks? Do you remember what Amazon did to Wal-Mart (oh wait… that’s happening now)? All of this is being caused by automation of processes and systems. Automation is growing in real estate too.
There is a new app that has recently been released on the iOS app store called SQFT which is trying to automate the real estate transaction and put the real estate transaction in your hands. You can download it here.
Are the days of needing a realtor slowly fading? Technically SQFT still connects you with a licensed person to keep it legal, but listing the home and selling the home is all included in the app. After deciding to list your home, SQFT will walk you through creating the listing and help you include good pictures to showcase your home.
Once the home is listed, the app will automatically upload your house listing to hundreds of real estate listing websites including the big players like MLS, Zillow, and Trulia.
Have you ever paid 6% commission to sell your home? By putting the entire sales process in the hands of the homeowner, SQFT aims to lower the average real estate commissions to less than 2%. Many realtor friends of mine have pushed the idea that you really make more money by utilizing a realtor to sell your home because they have access to more information to make sure your home sells at the top of the market.
James Simpson, Co-Founder and CEO of SQFT, said that the time is right for an app like SQFT to come to market. Simpson explained that while sellers used to be dependent on home values that were exclusive to realtors, this information is now so freely available that homeowners no longer need to rely on a listing agent.
The future of real estate listing services is changing and if realtors don’t stay on top of what’s happening and change with it, they will become the next Blockbuster.
About the Author: David Carpenter
I am an experienced Commercial Real Estate Advisor with a mission to create wealth for investors through Commercial Real Estate. However, I am also a family man! With 3 kids at home, I spend most of my spare time with my wife and kids supporting them in the things that they love. I like to mix in a little fishing, gardening, refinishing furniture, reading, and watching the Spurs whenever I get a chance.