I have just read the post by Greg Swann, BloodhoundRealty.com
Greg is a superb writer, so it doesn’t matter how bad news he might be writing about, you will enjoy Greg’s rhetoric more than your will fear its possible meaning. Yes, I don’t see Zillow to be conscious benefactor of Realtors, however I don’t believe that it is in Zillow’s, Trulia’s or Redfin’s power to damage Realtors in a long run. Only we can achieve this! But joking on the side – as I pointed out in my recent post
I credited Zillow and Trulia for being a visible trigger of on-going real estate revolution. They are good for realtors (at least for now) as they put tremendous pressure on MLS and realtor association to change. I see positive changes in some extremely conservative associations that happened within last 6 to 12 months, as a result of this pressure. These changes are good for us, as our associations were very slow to change in the past. Customers embraced Zillow and Trulia as they provide services to clients they were denied before. But what clients really want? I believe clients want our knowledge. The knowledge and experience that took years to develop. It cannot be duplicated by a few well funded start ups any time soon. So, how can we position ourselves best for the future? Just keep learning more and getting better. Your customers will never leave you.
Yes, real estate is changing. Average commissions will get lower, long awaited new business models will arrive, but good brokers and good agents will not go away. Yes, there will be many casualties among our ranks, but at the end (five years from now?) the best agents and brokers will become real state consultants (in many different flavors…), meaning that they will provide more knowledge and expertise to clients for less money. The average commission will definitely be lower than today, but I strongly believe that some of us will be still be having commissions above 6% or more 5 years from now. I will not venture to predict what might happen 10 years from now, however.
What do you think? Please share it with us.