When I entered real estate in 2001 many of the business strategies taught to me were from an era where an estate agent was the gatekeeper of all real estate information.

The internet was around back then but the social shift toward searching for properties on websites had not yet begun.

Basic strategies like withholding price, address or inspection times created enough curiosity for buyers to enquire about the information we held (behind the gate).

These days information about everything and anything is freely available online and if it’s not then we get upset.

Real estate agents are no longer gatekeepers of information. They are a mix of administration managers (let’s face it arranging photos to be taken and put up online is admin work not marketing work), tour guide and most importantly the middleman negotiator.

Most of this has not changed, it’s just that the ‘gatekeeper of information’ part of their role has been replaced by the internet.

What about professions that are mostly based on information?

It’s widely held that many professionals are paid for what they know. They charge a fee to advise, consult or research information. Doctors, lawyers, accountants there’s a tonne of professions built on a platform of withheld or hard to find types of information.

This is changing, and fast!

The possibilities of blockchain technology and so called smart contracts are just one example.

agents provide their value to sellers by negotiating a sale price higher than the difference their fee makes and facilitating the process.

How will lawyers provide value when technology holds both the answers and the ability to facilitate?