Are Real Estate Agents Going or Staying?

**ANDREW07** · 06-27-2007 04:39 PM

Hi

I have just been reading the post about the future of real estate when it got me to thinking; Instead of an estate agent charging the 6% what if there was a website, lets say the equivalent of auto trader but for real estate where instead of getting screwed out of 6% you pay to advertise your property on the site. Does any one know if there is already such a site?

Regards

**pacificfame** · 06-27-2007 04:41 PM

Yeah there are tons. That's why I started the thread.

**ANDREW07** · 06-27-2007 05:08 PM

Has one reached the level of autotrader but in realestate?

**pacificfame** · 06-27-2007 09:59 PM

http://www.fsbo.com/ seems to be very popular.

I don't know if they are as big as auto trader in the real estate market but they are big.

**Kelloway** · 06-27-2007 10:14 PM

MLS ? isnt that what you are talking about. i know theres a .ca and a .com for it

**roadtoharvard** · 06-27-2007 10:35 PM

60 minutes did a segment on just what you are asking a few weeks ago. Here is the link to the story:
http://www.cbsnews.com/stories/2007/...n2790865.shtml

If you don't want to read the article it basically says that more people are gravitating towards the online RE companies like Redfin because it saves on the commission.

Despite savings potential for consumers the concept is still shaky due to the Realtor's lobby in Washington who are trying to usher laws to basically shut down online outlets like REDFIN as it as it cuts into their member businesses. The NAR has succeeded in the past forcing EREALTY to close (well technically bought out and at a substantials loss to investors.)

Even discounting the NAR lobby Realtors are likely to stay as most people just don't want to burden themselves with the hassle of selling/buying or are too cowardly (for lack of a better word) to do it on their own. NAR has succeeded in placing doubt in the mind of consumers through advertising *coughpropagandacough* so they are more unlikely to take it on themselves.

Some guess however that the percent commission is likely to fall due to different circumstances (knowledgeable consumer, abundant supply etc.)
Weather or not REDFIN survives is anyone's guess.