The WSJ has a wide-ranging article this morning on the impact that craigslist and googlebase may have on the traditional-model real estate industry. Read the whole thing if you want to see what I and others have been talking about for quite some time.
I personally take exception with one part –
Shoppers can’t rely on agents to tell them about for-sale-by-owner offerings, because agents often don’t earn commissions for introducing buyers to these properties and find such transactions more difficult to complete. Agents also may fail to tell potential buyers about homes being sold through discount brokers.
I show any house that fits by clients’ needs. If I don’t show a home that is marketed by an unrepresented seller, that is because 1) I don’t know about it due to their ineffective marketing and 2) it doesn’t suit my buyers’ needs.
Regarding google’s entry – the ability of Realtors to rely on the MLS’ dominance is just about over. To quote my daughter – “you’re either in, or you’re old.” I believe the traditional MLS model run by NAR is just about over. While other companies are innovating, NAR is forming work groups to analyze the situation.
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