Reply to Will Realtors go the way of the DoDo bird?

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[quote=Anonymous]It really should and the role of realtors compared to the % they take is out of whack. I remember listening to a lecture in business school over a decade ago about this issue and how established systems can work to sabotage innovation. When on-line listing and real estate services first came on line which created a way for you to list your house without going through a realtor and for buyers to get access to house listings with a realtor there was belief that agents would go out of business. What happened was that the realtors and agents did everything that they could to avoid showing houses that were sold through traditional realtors. In a hybrid market, there were buyers who were not shown options or told that there may be issues with that property. The realtors didn't save their cut of the business by providing more value but by reducing the value of the competitors..interesting difference.

A much better business model for consumers (both sellers and buyers) would be a flat rate real estate attorney service that would provide contracts, negotiations and closing services. A separate service that would be far more valuable in getting your home sold than your traditional real estate agent would be a staging and pre-inspection service that would be flat rate or time and materials to help sellers present their homes in the best possible light, understand the comps in their area and what types of things make a different in their market. Every agent that we have ever worked with has not had any of the above skills even though they were well regarded and successful.

Agents want you believe its either use them at their terms or you do everything else. This is stupid as there other potential business models that would better serve the public.[/quote]

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