Thursday, September 4, 2014

Estate Agent v E-Commerce

Q.
Registered Estate Agent losing out to IT evolution in property transaction? Why do you go through agent? You can sell via Internet to your buyer direct!? Argue this observation.

A.
In the first place, let us be clear on a term - "profession".
"Profession" is a "vocation requiring knowledge of some department of learning or science"

(www.dictionary.com)

With such definition, we begin the argument by saying that Registered Estate Agent being a profession, and IT E-commerce website being a 'vehicle' or 'tool'.

When the operator of the tool is good, the provider can enhance the outcome of the profession. For example, when a chef is good, and the utensils and cooking wares are 'state of the art', he should be able to cook a great meal!

(In this analogy, the raw materials - the food, is the buyer and the seller)

Thus, Registered Estate Agent (REA) is that cook, and the IT E-commerce is the tool. If a seller is interested in just selling his property to someone who just 'eat anything', then there is it, no need to get a REA. He will get all sort of phone calls, and all sort of people, all sort of questions, and all sort of reasons his property does not fetch that price.

Therefore, if a seller is to engage an experienced REA, the meal is cooked with 'state of the art' utensils and cooking wares, with spices and decorative arts to showcase the property to sell it higher and better to a suitable buyer. Both buyer and seller are matched to a perfection, if time and resources allow.

So, I hope this can answer the difference between eating in a restaurant 'ala carte' or getting a fast food outlet just to fill up the stomach.

I hope I did not offend anyone by using this analogy. And, one day it may be a common practice that everyone just eat fast food and so be it!

On this, do you really think that it will one day happen that everyone eat fast food?

I can bet with you it won't! Why?

Because human are by nature selfish and greedy. Hence, if everyone eats fast food, I would be different, I eat no fast food, and reserve the best for myself.

Wait till you could afford, wait la!

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