Web real estate firms shake up home economics - Los Angeles Times
Well....so much for having my own niche, huh? If I told you that the housing industry has only begun to "dabble" into generating sales via the internet, you'd probably think I was joking. The internet has indeed become a powerful tool for both realtors and mortgage lenders, but to what extent does it generate new business? I guess another way to ask that is:
The answer is....ABSOLUTELY! It's already in the works. At this point, it's still used mostly to suppliment the work of realtors and loan officers. However, emerging websites like Realtor.com are providing buyers and sellers with much of the same information as their real estate agents. Zillow.com is another popular website which is used for determining real estate values all over the country. Like many other industries, real estate & mortgages transactions will soon be generated, processed, and finalized over the internet.
1.) Realtors will be the first to be eliminated.
Real estate sales are heavily influenced by outside forces. Economic
conditions, interest rates, housing prices, and income averages
are variables that directly effect the real estate
market. Realtors are often at the mercy of changing market
conditions, regardless of their ability to sell. If houses are too
expensive, people won't buy them......period. Obviously, I'm speaking in
generalities and there are always exceptions to the rule. The other major cause for their extinction is their price. For how much a realtor charges, it's far too easy to figure out a way to eliminate the need for one.
2.) Loan Officers..........YOUR NEXT!
Like realtors, loan officers experience fluctuations in their business due to a changing economy. Loan Officers, however, rely more heavily on their ability to sell than do realtors. At the risk of upsetting any
realtors who are reading this, it's the truth. Also, no matter how bad market conditions may be, people will always need money. Without doing any research, I'm going to guess that real estate transactions
(sales/purchases) fluctuate far greater over time than mortgages.
Just a hunch. You're more than welcome to do the research and prove me wrong. I'll even post it on this site for you.