Thread: CNN news about Real Estate Blogs

CNN news and summarized by abodeblog.com:

Tech trends in real estate
January 10th, 2007

Not only are real estate internet tools getting better but websites that allow citizen journalism,
social networking, and user generated real estate content are
enabling consumers to gain more power and reducing the need for real estate agents.

1. Free listing and valuation websites.
2. Real estate blogs.
3. For sale-by-owner websites.
4. Discount or fee based brokers and brokers that give buyers rebates.

a world without real estate agents...oh my!!

You can also purchase a haircutting kit at your local drugstore. I don't see salons going out of business.

you have to remember that real estate brokers are paid for negotiating deals between sellers and buyers. there will always be a need for a third party in most transactions. not everyone wants to handle these types of situations. real estate agents provide comfort to sellers and buyers, not to mention a much easier way for them to sell and find houses to buy.

the internet is just another tool that real estate agents are adjusting and using effectively.

1. Free listing and valuation websites.
2. Real estate blogs.
3. For sale-by-owner websites.
4. Discount or fee based brokers and brokers that give buyers rebates.

No way! Now I can say that I have been back and forth through the blogosphere a few different times, but the actual real estate consumer has not really established a presence on this type of platform yet. I think we are ages away from any major movement regarding the agent acually become less important.

well since i'm getting my real estate sales license i sure hope that re's will be a relavent resource for home buyers for the next few years at least...

I'm not sure which expression applies here:

1) Nothing is ever really free or
2) You get what you paid for

Free listing services do not put homes in the MLS where agents search. Consumers may search through the thousands of sites out there in the "free" category, but they soon learn that Realtor.com is fed from the MLS.

The forsalebyowner sites are not very prompt with removing listings that have sold and therefore are unreliable.

And the services that say they will put a home in the MLS for a nominal fee - well - there are many MLSs. I'm in SE Michigan and we have over 4, so getting in one doesn't mean it's in the one you want. Not all allow non-member listings.

The future of Realtors is still intact

i think there'll always be a need for agents and brokers...i dont think these sites (mine included) are out there to take anything from anyone. Everyone will eventually find a way to work together and co-exist. We are currently working on programs that RE Professionals and FSBO will get to benefit from. Yes, the industry is changing. But with change comes opportunity...

I think there will be always new Realty sites that will try to supplement the established Real estate web sites.
But the role of the agents and brokers could not be replaced by FSBO web sites. And do not forget that there is nothing free in the world. Even "free" listings are not free and somebody is paying for them.

In this slow market, you really must work to sell a house. Very few FSBOs seem to have the work ethic and marketing to stand out in times like these.