Updated: Mar 17
There are 1,548,058 Realtors in the United States as of January, 2023. But, as with every job these days, it is natural to wonder about the future. In a time when everything is being automated and jobs are disappearing, it is fair to ask, is there job security for real estate agents?
To understand the future of real estate agents, let’s look at today’s landscape. Many tasks that used to be completely up to the real estate agent have been automated. They can be done by the client themselves without assistance, and they have been able to do that for a while. These tasks include:
Virtual home tours
Home value estimates
But, the National Association of REALTORS© states that 86% of buyers and sellers worked with a real estate agent. How can that be if so many tasks are automated? (You might enjoy What Does a Typical Day Look Like as a Real Estate Agent? )
The positive future job security for real estate agents hinges on the fact that so many agent duties are very difficult to automate. These include:
Creating property descriptions that sell
Producing contracts which protect buyers and sellers
Understanding the data
Empathizing with Buyer and Seller’s needs.
Keeping transactions together when issues arise
There is an additional aspect that is tough to automate. Real Estate Agents accompany buyers through homes, often when the sellers are not there. The agents have been vetted though licensing, and are tracked though lockboxes, providing protection for the seller.
The sale of a home would look very different without agents. Perhaps homes would only be sold during seller-hosted open houses, or sellers would open their home to strangers while they aren’t there. Perhaps all showings change to only virtual tours without actually walking through the home. All seem unlikely. You might enjoy: Do Real Estate Agents have High Job Satisfaction?
So, although we don’t have a crystal ball to see the future, it seems that the future won’t change much from the real estate career of today. So, is there a future for Real Estate Agents? In a word, Yes. Don't miss: Ways to Make Money with a Real Estate License (Without Selling a Home)