Over the past 20 years, technology has spawned widespread changes in real estate buying, selling and closings, according to lawyer and broker Gary Pickren, guest speaker at Capital Rotary’s August 14 meeting.
Pickren detailed changing roles for agents and attorneys in today’s electronic-driven marketplace. Agents – once seen as advisors, counselors and advocates for their clients – now chiefly provide emotional support and keep a transaction’s progress on schedule.
In the future, Pickren sees agent compensation moving to a sliding scale instead of percentage commissions, or becoming an ala carte system based on flat fees plus extra “menu options.” He said real estate attorneys’ offices today function more professionally because of consumer protection laws, while lending a marketing and social experience touch for closing transactions.
Technology will continue making inroads, leading to more online documents and electronic closings. In short, Pickren said, “it’s not your grandfather’s law firm anymore.”
Pickren grew up in Spartanburg and graduated from Wofford College. Since 1995 he has performed real estate closings, taught agents and advocated for all South Carolinians in changing the state’s real estate laws.
Photo: Guest speaker Gary Pickren with Rotarian Gloria Saeed