What is Uber Real Estate? Well, we have the answer broken down for you, section by section!
Real estate trends are constantly changing. Real estate, similar to other industries, is embracing technology and technological advances. Uber Real Estate is one of many services that could be of benefit to real estate investors, and home buyers and sellers alike. According to Forbes, 88% of property buyers have used a real estate agent/broker to aid them in the process. So the fact that services like Uber Real Estate are rising is no surprise in the real estate industry context. And despite what the name may suggest, Uber Real Estate is not affiliated with the ride-sharing company, Uber.
Related: Disruptive Technology- The Future of the Real Estate Industry?
How does a traditional brokerage firm work?
First, let’s review the role of a traditional brokerage firm. A traditional real estate brokerage firm essentially consists of one or more real estate agents or brokers who intermediate the sale of property between buyers and sellers. Today, real estate brokerage firms don’t necessarily follow traditional means/methods. Many are making use of real estate investing websites, and real estate technology in general, especially in an age where information is so readily available to investors and buyers alike through tech-savvy platforms like Mashvisor, Trulia, Zillow, and others.
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What is Uber Real Estate?
Located in California, Uber Real Estate is essentially a brokerage service which acts as an intermediary between buyers and sellers of real estate. If you choose to become their client, you are given the option to sign up as an investor, individual consumer, or even a law firm. When you sign up, the service/website connects you with brokers and broker attorneys on the network they have developed. According to their website, Uber Real Estate is “Displacing the Real Estate Brokerage Industry and Reducing the Cost to Transact.” Using a “simple A to B logic.”
Uber Real Estate’s competitive advantage lies in the fact that they help clients save up to 50% of what traditional brokerage firms charge for real estate fees. And unlike traditional brokerage firms, Uber Real Estate claims that they have a “built-in exit plan for retirement.” Moreover, Uber Real Estate highlights its highly qualified brokers and broker attorneys with 10 – 30 years of experience, and promises “more search results and human interactions than everyone else combined several times over.” It’s also said that an Uber Real Estate mobile app is currently being developed.
Uber Real Estate asks investors and buyers alike to “Just Uber™ it,” promising they can make lives better.
In terms of competitive advantage, we give it to Uber Real Estate for the 50% off brokerage fees. However, the rest of the items Uber Real Estate claims it does better, we cannot necessarily confirm. One cannot simply disregard the quality, professionalism, and service of other real estate brokerage firms when compared to Uber Real Estate.
Uber Real Estate can help real estate investors buy property
As any agent or broker would, Uber Real Estate can help real estate investors look for and buy property with the possibility of receiving cash back. According to their website, Uber Real Estate offers high-quality service and experience, which would help buyers make informed real estate decisions. They also encourage a time and cost saving buying process for clients. The platform even claims that they could make buying a property more enjoyable.
Uber Real Estate can help real estate investors sell property
Uber real estate allows sellers, including real estate investors, to list their property for 1-2%. The service emphasizes the buyer platform that they represent, as well as their ability to support the real estate market. This is to also say that they can help sellers get exposure among buyers. Moreover, Uber Real Estate can help investors market and showcase their property through their listing services. The service also promises to tend to practical issues such as the signing of contracts and process delivery.
Related: Listing Your Investment Property for Sale: Simple Steps to Be Ready
What effects does Uber Real Estate have on the real estate market?
Uber Real Estate can definitely make investing in real estate easier and cheaper. Real estate investors may thus start forgoing real estate agents and brokers and start opting for Uber Real Estate instead. And if the service picks up, it could really disrupt the work of real estate agents and brokers alike.
Analysts, as well as Uber Real Estate itself, believe that the service may be able to “disrupt” the real estate market. But will Uber Real Estate revolutionize the real estate and real estate brokerage industry? With many real estate technologies emerging and developing, it’s hard to tell at this point in time.
So what does this mean for real estate investors?
Uber Real Estate is yet another tool real estate investors can use when buying and selling a property. Additionally, and as mentioned above, it can be time-saving and cost efficient to use the services offered. We assume it could be especially beneficial for beginner real estate investors, who still don’t know their way around the market yet since Uber Real Estate can help real estate investors get connected with different buyers and sellers, and may improve their real estate network.
Apart from the above, Uber Real Estate doesn’t yet show a palpable effect on real estate investors and the real estate market in general.
All in all…
Uber Real Estate, as well as other real estate resources, can be of use to real estate investors. And with so many resources available both online and offline, real estate investors have become more knowledgeable and more aware of the choices they make in real estate. To optimize your use of real estate resources, make sure to check out Mashvisor’s services here to learn more about our product and start out your 14-day free trial with Mashvisor now!
Related: 8 Resources Which Will Change Your Experience as a Real Estate Investor