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Real Estate
Reply to "How many years until realtors are replaced by Redfin/Uber/Zillow/etc?"
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[quote=Anonymous]Well, real estate is an inefficient market because each property is unique and each buyer and seller is unique. Even within a developer subdivision, the lots are going to vary somewhat as well as upgrades, etc. And timing affects purchases too, so a home that is available in December is going to have a different buyer pool than the next-door property in April. So its harder to comp things out perfectly like with a car. Add in the almost universal requirement to finance the purchase and its difficult for buyers to become sophisticated. I agree that realtors should be paid more like other professionals. Hard to believe but agents in the Midwest work just as hard as the ones here but make far less, and cost of living isn't fully the reason. [/quote]
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