What Should Real Estate Agents Do to Avoid Being Disintermediated in the Digital Age?

According to experts, real estate brokers are currently at a major crossroads as they face significant changes brought about by new legal frameworks. These changes entail stricter requirements for professional practice and expertise.

With the surge of AI and digital platforms, the traditional practices of the brokerage profession are being transformed. Clients can now easily access information and utilize AI tools for market analysis and property valuation. As a result, real estate brokerage demands a more professional and systematic approach.

However, these challenges present opportunities to elevate the profession to a truly professional service sector. Brokers can optimize their workflows with technology and focus on creating unique value through in-depth consulting. To thrive in the digital era, modern brokers must continuously update their knowledge and skills, encompassing both legal and technological domains.

Instead of viewing technology as a threat, brokers should embrace it as a tool to expand their market reach and engage customers more effectively. Those who adapt and innovate will have the chance to emerge as leaders, while those stagnant in old work methods will be left behind. This is the pivotal moment for brokers to redefine their development strategies, especially by investing in technology and enhancing their expertise to build strong personal brands in this new era.

Mr. Pham Lam, Vice President of the Vietnam Real Estate Brokers Association (VARS), emphasized that the real estate brokerage profession is undergoing a tumultuous transition. Apart from market instability and stringent legal requirements, the profession is also profoundly impacted by new waves of technology, such as AI and TikTok, which are transforming the way brokers operate.

Mr. Lam expressed concern about the reality that many young brokers are still struggling to find their direction, while veteran brokers continuously need to update their skills to keep up with the digital age. Hence, this is not merely a workshop but a journey toward innovation, offering an opportunity for individuals to position themselves in a market full of potential yet fraught with challenges.

Mr. Nguyen Vu Tuan Tu, a media expert, offered intriguing insights into the application of TikTok in this field. He pointed out that most brokers in Vietnam lack professionalism and often rely on intuition rather than marketing knowledge in their work. With its unique algorithm and ability to reach millions of users rapidly, TikTok has become a powerful tool for real estate brokers to build their brands and expand their client base.

Mr. Tu also revealed the exclusive “3-2-1” formula for building an effective TikTok channel, comprising three crucial content elements, two channel development strategies, and one secret to increasing engagement. This formula is not a magic trick but the result of thorough research and practical application in multiple markets.

“Looking at the Chinese market, we see astonishing figures. There are brokers earning millions of CNY monthly solely through the Douyin platform,” Mr. Tu shared. “This can be replicated in Vietnam if we grasp the right formula.”

Discussing the trend of AI integration in real estate, AI training expert Vu Xuan Hao emphasized that AI not only aids in data analysis and trend prediction but also generates creative content, saving brokers time and enhancing their productivity. AI has revolutionized the way we work, providing not just automation but also intelligent suggestions to support brokers in making more accurate decisions. He also introduced advanced AI tools such as Chat GPT, Mid Journey, and Opus Clip, which have been instrumental in helping brokers create captivating content, unique images, and professional videos, thus comprehensively elevating the customer experience.

Addressing the existence of freelance brokers in a market that demands high specialization, senior sales trainer Nguyen Le Hai Dang asserted that freelance brokers would face more challenges. However, if they embrace technology and enhance their skills, they can still maintain their standing. “Freelance brokers will encounter more obstacles as the market demands transparency and expertise,” he emphasized. “Yet, if they harness technology, improve their skills, and associate with professional organizations, they can sustain their position.”

Regarding the new Real Estate Law, Mr. Hai Dang shared that while it might initially exert pressure, it is necessary to enhance the quality of real estate brokerage. “Any new regulation will initially create pressure, but it is essential for industry quality enhancement,” Mr. Dang stated. “Dedicated brokers will view this as a motivator for growth rather than an impediment.”

Mr. Dang also suggested that tightening legal requirements could be a natural selection process, fostering the industry’s sustainable development. “Incapable brokers will find it challenging to survive, contributing to the industry’s long-term sustainability,” he affirmed. “However, we should provide support to help them transition to new careers reasonably.”