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]I think Zillow could change the market quickly by offering an auction service, sort of like ebay for houses.  They have the eyeballs, and an auction format will ensure the most accurate price for each house.  The only piece they're missing is some mechanism to show the houses to live people.  Maybe the answer is for Zillow to partner with Redfin.  Redfin will get a piece of lots more listings, and they can be responsible for running the open houses and staging and such.  Maybe Redfin gets paid on an hourly basis for the service of open house, and staging, and advice on how to present house for sale, while Zillow gets a small commission on the sale for providing the platform.[/quote]
Do you understand how regulated real estate is?  They can't just start auctions.[/quote]
Yes, I understand real estate agents are regulated. But there is no regulation that prevents me from selling my house without a realtor, and no regulation that prevents me from using an auction site to do it.

You are not thinking like an entrepreneur. The regulations are just fences put up by realtors to protect their turf. [/quote]

Try to buy real estate in Europe, especially Eastern Europe, an you'll be grateful for all of our regulations.  Even in Western Europe, title can be pretty fuzzy.  In Eastern Europe, crooks just sell other people's real estate out from under them.  The hapless buyer finds out after they have handed over the money that they have a worthless deed.   Add to that danger from floods, earthquakes etc., and you have a recipe for disaster when it comes to asymmetric information.

Uber and Airbnb are the same way.  They "save you money" (although Uber is hardly cheaper with surge pricing), but really they are there to dodge taxes and safety regulations.  Uber's drivers are not background checked, and you can end up paying hundreds of dollars for a $20 cab ride.  Airbnb is just amateurs running hotels without paying taxes.  [/quote]

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