Consumers Want Real Estate Agents

A few years ago I heard a report from the man who supposedly "brought down the travel agency business" by developing on-line reservations systems for airline tickets, hotel reservations, car rentals, etc. ... all the things that were typically handled by travel agents. He turned his focus to the real estate business and created Zillow with the goal of "bringing down the real estate agency business." Lots of people outside the real estate industry thought that he could do it. People inside the real estate industry knew that it was just more "hog wash."

Real estate professionals know that there's something they provide that the internet can't and people really value that "something."

Consumers want a low price and discounts and rebates make sense in many industries, particularly the retail industry. However, one of the first things a real estate license student learns is the difference between "Real Property" and "Personal Property" and viva la difference. Real estate (real property) is just not sold the same way as personal property (i.e. airline tickets, hotel rooms). So far the internet has done little to sway a big percentage of housing consumers away from brokers.

Today, with the huge number of foreclosures and short sales, people, both buyers and sellers, need agents more than ever just to navigate through all the mine fields that these kinds of properties bring to the game.

Does anyone really think the role of the real estate professional will be diminished? We'll be challenged by the competition the internet brings, which is a good thing. But real estate agents are here to stay and our numbers will increase.

Agents should not be concerned. Those who think there’s some easy way to replace the service we provide are wrong ... at least that's what the consumers have concluded so far. The services we provide are just too valuable to walk away from. Perhaps consumers really want something more than just a low price.