Reply to How many years until realtors are replaced by Redfin/Uber/Zillow/etc?

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Reply to "How many years until realtors are replaced by Redfin/Uber/Zillow/etc?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Redfin hasn't had nearly the success disrupting the real estate industry as Uber has had on the taxi industry. I mean, 10 years in it can't even get more than 3% market share in its home market of Seattle.

Besides, Redfin appears to be little more than a pyramid scheme to go public and enrich early investors. I don't see a sustainable business model. Mainly because they keep changing the model like every two weeks.

So the short answer is I don't think we'll see disintermediation of the real estate industry anytime soon. [/quote]

Thanks, realtor.  Change is inevitable.[/quote]

Not a Realtor. Just someone in business who studies this sort of thing. But it's such a clever retort, calling people who disagree with you Realtors.

Look, digital has had disruptive effects on many industries...

1) Car buying. Auto dealers as we know it are nearly gone.
2) Taxi services. Uber.
3) Banking and capital markets have been transformed.
4) Insurance, etc.

But, no, not real estate. Redfin will launch its IPO and then slowly drift down in value as it misses earnings target after earnings target. [/quote]

Not buying the car thing at all.  The same dealerships exist that existed decades ago.  Moving the haggling to email instead of in person isn't much of an improvement.[/quote]

No, digitization has definitely shrunk the role dealerships play in the point of sale of a car, primarily by shifting asymmetry of information. Buyers now hold all the cards.

The chief reason this won't happen for real estate is the fact that it's a regulated industry. Cars are durable goods but still liquid assets. And anyone can sell them -- you don't need a license. There's also more supply of cars -- if you can't reach a price on a particular Prius, there's another one to buy.

You can definitely inject more transparency into the home buying process, but property is a more heavily regulated and illiquid commidity.[/quote]

Totally disagree, most folks still walk in off the  street and haggle. even with Internet sales, the dealerships don't give up much on popular cars.  There simply aren't enough  dealerships of the same manufacturer in the same geographical area to give buyers the upper hand.  [/quote]

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