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What Will Real Estate Be Like in 10-20 Years?

15 June 2013  
A look at real estate 20 years from now.

It's a great Saturday morning in Prescott. Have you ever thought about what Real Estate will be like in 10 to 20 years? Lee Amble has some ideas, I think you'll find interesting.

Robotic Real Estate: A Look Into The Future - What Will It Be Like In The Next 10 To 20 Years?

Written By: Lee Amble, Realtor/Consultant

Many of my past readers know my beliefs about the past, but it's gone! I live for now and look into the future, which is what this article is about: "Yesterday is history, tomorrow is a mystery and today is a gift". We are going to preview the mystery!

Setting The Stage:

Many people in my profession will scoff and think I am way ahead of the time, but I see it as nearer than most believe they may see it. This is a "Food for Thought" article that will allow the futurist a head start over the people that choose to look at the past for ideas, which is already history in making. I look at this article as a "FLASH GORDON" article. ( For readers that are of the age to remember Flash Gordon, you may like it!)

Changes:

Some of the changes we have been part of in the past 20 years are: The ATM, which eliminates person-to-person bank transactions with tellers and soon to be talking to screens from a far off site to do any and/or all transactions. It will be like a call center for banking, already being tested by Bank of America.

Autos:

Some are being sold on internet, which I never imagined would be possible. Driverless autos in the future?

On-Line Complete Banking Plus Others:

Who would have thought about it? Just look at Ally Bank and many others as Ally has no physical offices to bank at and also look at internet home lenders and more!

There are so many more so I won't even go into them, but you can already buy and have groceries delivered to your home. (do you remember the home milk deliveries?) Robotic medical operations may be done by Drs. From off site locations and already are typing the procedure for the robot. So, will real estate be realtor-less or not?

Let's Look At The Future Of Realtors And Others:

Things to come as I see it and many more that I don't see will be discussed just ahead, so HAPPY READING!

Real Estate Drones:

Drones, the size of a humming bird, will show the outside of the home for sale, the neighborhood, schools areas, traffic patterns and noise, any odors, church locations and shopping, etc. Many of them are currently done by realtors before viewing the inside of the home. The items listed may be operated by many worldwide locations, the same as call back and renters.

We know most of the military drones are operated out of Nevada like tkhe far east and all over the world.

Real Estate Skyping:

This may be done live by realtors, for sale by owners or assistants hired to do this work that many of us do all the time. I am sure there will be many advanced ideas in the future like live full color pictures, showing homes to anyone in the world and creating offsite home buying. Where does the realtor of today fit in the future?

For Sale By Owners: (FSBO)

They will have access to most of the above ideas that the realtors have and will become our major competitor or ally, whichever you chose. Ally or enemy, we may have all these tools and be hired by the job, hour or other means of compensation and/or as a facilitator/consultant, etc. By the way, with internet and robo signing, they will be able to close on their own, either by a Title Company, attorney, or by other forms unknown. Internet is changing the world and many jobs, professions and businesses have been or will be in the internet cross hairs.

MLS: "Multiple Listing Service"

I believe in the next 10 or 20 years there will be a nationwide MLS or something new will replace it as it is now. Between Google, Zillow, Trulia and others, this may eliminate realtors as we know them today. They are already moving in that direction, just look at these sites.

O.L.S.: Owners Listing Service

There are many companies approaching this type of listing and, basically, with a little money and effort, this can be achieved very easily by people already in this type of business, or, maybe you, the reader would like to put an effort in that; it will happen. MLS will be nationwide, but, OLS will bypass realtors; thanks or no thanks to internet, google and others.

Title Companies

They, too, will sse many changes as everything eventually will be done by internet; taxes, liens, property profiles and most information will be on line to facilitaste closing and, again, yes maybe from closing centers called by me as today's call center from around the world.

Appraisers

I think they will be replaced by others as the people think that Zillow, Trulia, and other internet sites can give estimates more and more, people will believe they are accurate enough. I do not believe in any of these sites as many of you know, but like appraisers, they look at public records and both use comps they have never seen. What a great deal. Appraisers attempt to verify square footage and that it really exists. I think that with live like skype, google earth, and real estate drones, they will have to change how they do their work or will be replaced by the above.

Home Inspectors:

As far as I can see, they are here to stay. While doing the inspections, they can put odor monitors and noise detectors for the 2-4 hours it takes to do the inspection. They can also expand the pictures to a 10 minute video that shows the home at that time. As a bonus, they can verify the square footage, thus, no need to call an appraiser. They will do a lot that realtors and appraisers do. They have a great future ahead in a much expanded role with very little extra cost to the buyer or seller.

Conclusion:

These are only my ideas and vision; you have yours. To some, this may dampen your hopes and to others it may open your eyes to a new world of opportunity. I hope it does just that! Put this in a 1- to 20 year time capsule and look back at what really happened. Then, pass this article along to others as it may help more people see the future.

Thanks for reading this "Food for Thought" article! I could write a small book on this! I do hope it will give you some things to think about. If you have any further questions or ideas for articles you would like to read in the future, please call me. The call is free and so are my ideas!

Remember Experience Isn't Expensive, It's Priceless!! 
Selling A Home Is Easy; Doing It Right Is The Key!

Lee Amble 
Realtor/Consultant 
NATIONAL REALTY OF PRESCOTT 
Lee's cell: 928 533-4455 Jan's cell: 928 533-4488 
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Gary Edelbrock

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