"Real estate agents will be obsolete in a few years." claims tech chief

The president and co-founder of a technology firm whose clients include Colliers International sees a bleak future for Canada’s real estate agents.

“We firmly believe that real estate agents will be obsolete in a few years. The internet has solved the information asymmetry problem faced by home-buyers," says Voxel World’s Max Agrad.

His words won’t go down well with agents; and consumers might be less ready than Agrad believes to accept a homebuying experience without the expert advice and guidance an agent offers.

However, investors think that Agrad and his team are on the right track in serving a digital-native generation; Washington DC-based Voxel World has just secured U$2 million in first-round funding for its growing product range of virtual reality real estate tools.

“This first round of funding is a great vote of confidence from investors. The money injected by our investors will help us market our revolutionary products to real estate developers around the world,” Agrad says.

“Millennials are now buying their first homes and they are much harder to convince than their parents. They tend to do their homework prior to visiting properties. Also, they are much more open to using VR/AR Solutions," says Agrad.

 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?