Why Tech-Enabled Experts Are the Future

Why Tech-Enabled Experts Are the Future

Consumers will always need advisors and always need counsel, especially when it comes to huge, emotional and pricey decisions like buying a house — likely the largest transaction they'll ever make in their life.

ON 1/10/22 AT 9:25 AM EST

One of the constants in the real estate industry, for agents and brokers, is the fear over what their role will be in the transactions of the future. It's also likely a fear that's materialized in a number of other transaction-based industries, as venture capital money has flowed endlessly into these spaces and perceived outsiders present consumers with new choices.

For decades I've repeatedly emphasized that consumers will always need specialists, so there shouldn't be a fear of disintermediation. Consumers will always need advisors and always need counsel, especially when it comes to huge, emotional and pricey decisions like buying a house — likely the largest transaction they'll ever make in their life.

Even now, as the playing field changes due to new money and new entrants into various industries, that's not going to be dramatically different. But one thing is going to change: Agents aren't just going to need specialists, advisors and counsel — they are going to need tech-enabled specialists, advisors and counsel.

In the real estate industry, a tech-enabled expert is a real estate agent, broker or loan officer who leverages technology or technology platforms to supercharge or supplement their business. It's someone who integrates the latest tools and technology into their workflow and continues to act as a trusted counsel and advisor but is now armed with better insights and data about their customer and their needs.

These are professionals who have made a concerted effort to stay ahead of the wave of technology innovation in an effort to meet and exceed the expectations being created by a rapidly evolving tech ecosystem. Consumers are receiving offers of tremendous value from a lot of tech platforms long before they would come into contact with an agent. Real estate search sites are a great example in my industry. In the past, it was an agent who guided a customer through the early parts of the journey, but now people can start home shopping entirely online.

If a real estate agent — or really any professional working in a field that's facing constant disruption and is growing more and more competitive by the day — is looking to grow their business, they won't be able to do it any other way. They have to be that tech-enabled specialist, otherwise, over time, they'll see their opportunities and sphere shrink.

The idea of supplementing your business with technology also helps you meet clients with whom you'd never have worked otherwise. For real estate agents and loan officers, that means meeting people outside your direct sphere of influence — and those one-time buying and/or selling hopefuls eventually become part of your sphere for life.

Agents who embrace this new wave of technology are also embracing a purposeful move into the future. Many are looking to level up their business and wondering, "Should I be doing things differently, or do I just need to be doing the same things I've been doing for years, but better?"

What I advocate for is doing things differently and better — and that means supplementing your existing workflows with great technology partners.


What does 2022 hold for the housing market?

What does the coming year hold for the housing market? Here’s what experts project for 2022.

Mortgage rates are projected to rise and so are home prices. Experts are forecasting buyer demand will remain strong as people try to capitalize on rates and prices before they climb, creating another strong year for home sales.

Let’s connect so you can make your best move in the new year. Click Here!


2022 Homebuying

Homebuyers: Be Ready To Act This Winter

Homebuyers: Be Ready To Act This Winter

To succeed as a buyer in today’s market, it’s important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com, says there are two factors every buyer should keep their eyes on:

“Going forward, the conditions buyers face are primarily dependent on two things: mortgage rates and housing supply.”

Here’s a look at each one.

Mortgage Rates Projected To Rise in 2022

As a buyer, your interest rate directly impacts how much you’ll pay on your monthly mortgage when you purchase a home. Rates are beginning to rise, and experts forecast they’ll continue going up in 2022 (see graph below):

As the graph shows, mortgage rates are expected to climb next year. But they’re still low when you compare to where they were just a few years ago. That presents today’s buyers with some motivation to lock in a low mortgage rate before they climb higher.

More Homes Are Expected To Be Available This Season

The other market condition buyers need to monitor is the number of homes available for sale today. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows the current supply of inventory sits at just 2.4-months. To put that into perspective, a 6-month supply is ideal for a balanced market where there are enough homes to meet buyer demand.

However, there may be good news for buyers who are waiting for more options. A recent realtor.com survey shows more sellers are planning to list their homes this winter, meaning more choices will likely be available soon.

What Does That Mean for You?

Even if your options improve some this season, it won’t significantly shift market conditions overnight. According to NAR, many more listings need to be available to move closer to a more neutral market:

“Given the average monthly demand . . . , 3.55 million homes should be on the market to meet a level of inventory equal to six months of demand, implying a shortage of homes for sale of 2.24 million.”

So remember, even with more homes expected to come to market this season, competition among buyers will remain fierce as there still won’t be enough homes for sale to meet the current demand. That means you’ll need to act quickly when you’re ready to make an offer.

Bottom Line

If you’re planning on buying a home this winter, more options are welcome news, but it doesn’t mean you should slow down. Let’s connect today so you have an expert on your side to help act as quickly as possible when the right home for you hits the market.


Homebuyers Are Going on a Shopping Spree This Winter

Homebuyers Are Going on a Shopping Spree This Winter

Homebuyers Are Going on a Shopping Spree This Winter | MyKCM

Black Friday and Cyber Monday are over, which means some shoppers have wrapped up their holiday buying. But there’s still a group of buyers that are very active this holiday season – homebuyers.

Experts anticipate the real estate market will see a flurry of activity this winter, and that’s great news for today’s sellers. If you’re planning on listing your home, there’s no need to wait until the spring for better conditions – today’s real estate market is already heating up.

Buyers Have Warmed Up to the Idea of Purchasing This Winter

The past 18 months brought about significant lifestyle changes for many of us, including the rise in remote work, job changes, and even early retirement for some. For many people, it’s prompting a search for their next home now rather than waiting for warmer months.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), points out how this winter may see a significant number of sales:

“Compared to other past winter seasons, this winter season’s sales activity will be stronger. . . . This winter, there will be more sales compared to pre-pandemic winters going back all the way to 2006.”

You might be wondering: what does strong sales activity mean for you? It means there are likely to be more buyers active in the market this winter – far more than more normal, pre-pandemic years.

In the same article, Danielle Hale, Chief Economist for realtor.com, puts it in these simple terms:

Sellers can expect to see plenty of buyers.”

The more buyers there are in the market, the more likely it is your home will get noticed. That can lead to a multiple-offer scenario or a potential bidding war. Receiving multiple offers on your home means you can select the right offer and terms for your situation – so you can truly win as a seller when you list your house this winter.

Bottom Line

If you’re thinking about selling your house, you don’t need to wait until the spring. Buyers are ready now. Let’s connect to discuss why selling this holiday season could be the gift that keeps on giving.