| Pub Date: 6/6/2008 1:53:49 PM | | | Technology and the Internet have changed the way we do business today and even the real estate industry is changing fast. Realtors no longer control the information anymore. This represents a paradigm shift in the role they play in transacting real estate. We believe that in the near future the public will make a larger push towards the “For Sale By Owner” way of selling. We think there are two main reasons for this behavior change.
1.- All the data is readily available. If you go online you can get automatic home valuations, see comparable sales and similar active listings, all for free. This is enough for a home seller to find out what their home should be listed for.
2.- As real estate prices fall, homeowners don’t have enough equity in their homes to pay a traditional agent.
We think that there is no doubt that Realtors' position in the real estate market is changing fast, but we don’t think it is changing enough to suggest that realtors will disappear. Their role will evolve and most likely the amount of realtors will decrease, but to assume they will completely disappear is a stretch. | |  | | Subscribe to this blog |
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