Are Agents on the Way Out?
A New York Times article published on December 20th, profiled two parties selling their properties. It's a fascinating case study in the long-running debate about whether or not internet tools will leave real estate agents like their travel agent counterparts: unemployed.
According to Steve Murray of Real Trends,
“Younger people, he said, are far more likely to embrace the multitasking and risk taking involved in selling their own homes. If the decision to use an agent is becoming generational as well as situational, that would not augur well for real estate agents.„
The article goes on to report that in regard to feeling like a realtor is necessary, there appears to be a generation gap regarding who feels like a realtor is necessary and who doesn't. The person in the article who sold their home via online tools estimated that they spent only $1,000 compared to the $50,000 that she would have to pay in broker's fees had she not used online tools.
The article closes with a gentleman in his 40's who is trying to sell his home who says,
“I would think anyone who is comfortable with the Internet would prefer to do it this way. Eventually, who won’t be?„
So as the access to information involved in selling properties is democratized, how will realtors stay relevant?
- Rob
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