How Digital Media Pressures Real Estate to Change

How has technology influenced the role of real estate agents?

• It has decreased the need for online listings.

• It has made them less necessary for property viewings.

• It has increased their commission rates.

• It has made them more reliant on traditional methods.

What is one reason for the decline in real estate commission rates?

• A decrease in the number of real estate agents.

• Agents giving part of their commission back to buyers.

• Agents spending more time finding clients.

• Increased property prices.

What technology is mentioned as being used for virtual home tours?

• Google Maps

• Matterport device

• Drone cameras

• Virtual Reality headset

What challenge do traditional real estate agents face in New York City?

• High demand for rentals

• Low demand for house sales

• Lack of online presence

• Competition from agents with advanced technology

How does Redfin ensure accountability among its agents?

• By offering higher commissions

• Through government regulations

• By limiting the number of agents

• Through customer reviews