Real estate agents and property managers arrange the sale, purchase, rental and lease of real estate and property, usually on behalf of clients and on a commission basis (ILO, 2018).

RISK PROBABILITY BASED ON THE SEMINAL FREY AND OSBORNE STUDY

PROFESSIONAL GROUP CHARACTERISTICS AND SIMILAR OCCUPATIONS

Business Services Agents

Business services agents establish contacts to sell various business services such as advertising space in the media; carry out customs clearance activities ensuring that necessary documents are in order; match jobseekers with vacancies; find workers for employers; arrange contracts for the performance of athletes, entertainers and artists, as well as for the publication of books, the production of plays, or the recording, performance and sale of music; and plan and organize conferences and similar events(ILO, 2018).

  • Clearing and Forwarding Agents
  • Conference and Event Planners
  • Employment Agents and Contractors
  • Real Estate Agents and Property Managers
  • Business Services Agents Not Elsewhere Classified
  • Estate agent
  • Property manager
  • Realtor
  • Salesperson (real estate)

BACKGROUND INFORMATION

Real estate marketing focuses on convenience and expertise and innovation. From virtual tours via smartphones guided by a real estate professional, to choosing real estate agent based on customer ratings, digitization has infiltrated every aspect of the real estate job (Forbes Real Estate Council, 2017). From the intangible networks to the invaluable local knowledge about the community and the neighbourhood all can now be performed better, more efficiently and cost effectively (Weber, 2017). 

Also, it is possible to obtain estimates and comparative analyses on the value of a property directly online, launch on the web an interior design competition to increase the value of the house for sale or create a navigable 3D model of an apartment, or to customize and furnish to taste. Finally, online platforms, from rather simple ones, like Facebook groups to more dedicated ones skip real estate agents thus bridging the information gap between supply and demand. The outlook growth for real estate agents follows the overall health of the construction sector (Occupational Outlook Handbook, 2018).

Much of the innovation in real estate market might be a risk for the agents, but they might as well be a great opportunity to give a better service to a larger market of clients. 

Case examples

A new concept platform is Homepal, which has introduced the concept of social real estate network connecting those who sell or rent with those looking for a home. Placing an advertisement with photos in this platform costs between 29 to 49 Euro. Buying a property through this platform implies the payment of 290 Euros fee, while renting a property requires the payment of a 90 Euros fee. In comparison, this platform offers a much cheaper and simpler formula for renting and buying properties than traditional agencies that usually charge up to 3% of the transaction value to both the buyer and seller.

Realisti.co is a service that allows people to search for a house online, without being physically on the place, through a virtual tour that use 360 degrees visualization techniques and 3d visualizations.

Trulia is an all-in-one real estate platform that is able to provide insights not only on the content of the house but also price statistics, trends, community statistics, access to local residents, by offering over 34 map overlays exploring all the typical and non typical variables that a family could possibly consider. 

Trulia

Categories: Skill Level 3