With the meteoric rise in AI tools over the past couple of years, consumers are empowered to seek out answers where they would have otherwise needed a person’s help, and real estate is no exception to this disruption. It doesn’t help that stereotypes and misinformation around an agent’s role persist: are their contributions actually helpful, or just a money-grab?
Todd Shyiak, executive vice president of CENTURY 21 Canada, says that while AI tools will inevitably influence the real estate industry, the trust and connection agents build with their clients isn’t going anywhere. “We know that having to adapt and change is inevitable, and we encourage our brokers and agents to make use of AI tools. But any time saved with these tools should be reinvested in forging connections with their sphere of influence because once buyers jump into the market, they realize quickly just how important it is to have someone trustworthy serve their best interests.”
What the buyers don’t see behind-the-scenes
A study from the WAV group surveyed homebuyers and took a deep dive into what value they felt the agent they worked with brought to their home purchase. The results may not surprise industry veterans—buyers often have an incomplete idea of how much work an agent does on their behalf, but they value an agent who knows how to advocate for them when the process gets difficult.
According to WAV’s study, “One-in-four buyers said their agent spent ten or fewer hours on their transaction”. While the time spent on each respective deal can vary, it indicates that agents aren’t communicating just how much work it takes to see a real estate deal through to the end, especially when problems arise in conversations with sellers or the property.
Never underestimate human connection
So how does an agent bridge the gap between the value of their services and a client’s understanding of them? The study showed that the agent skills most highly appreciated were:
- Providing a list of homes actively on the market
- Negotiating with sellers
- Deciding on a fair bid price.
AI could spit out a bid, or suggest talking points, but any agent will know how stressful this process can be. For now, the negotiation of a home sale is still a conversation between humans, and agents who clearly communicate their negotiating strategy will have grateful clients with keys in their hands at the end of it.
It’s also eye-opening that buyers appreciate agents who can provide property lists—responses clearly show that they don’t just want an AI-generated list of addresses, they want friendly and knowledgeable support that can help them identify their future home.
Prove value from start to finish
An agent will act as a guide through what will likely be one of the biggest financial transactions of their client’s life so that first meeting is crucial. Even well-informed buyers may not know what to look for in a cursory home inspection, or what the fairest deal in their current market may be.
Study respondents indicated that fair price negotiation was an area where they would have liked more communication from their agent—it can be an emotional part of the process! According to WAV, buyers are also looking for a better understanding of all aspects of the buying process, including financing and home inspection. Don’t let your clients rely solely on digital tools to find information, have a roster of seasoned professionals you can vouch for to get them to the finish line—there is still nothing more trusted than a word-of-mouth referral.
The AI genie won’t go back in the bottle anytime soon, but it’ll be a long time before robots tell us where to live. Until that day comes, buyer agents are still able to build trust, make authentic connections and prove their worth.
AI can’t talk a nervous client out of buyer’s remorse or point out structural issues in a foundation, so agents can breathe easy—the human touch still holds the upper hand.
