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Homesearch.com could be about to do an end-run around Zillow and Trulia. They realize that extracting listing and transaction fees from the consumer has much larger income potential than charging agents for advertising. They may not kill ZTR but they'll push them to more quickly transition to the same sort of revenue model. It doesn't look good for the existing real estate broker/commission model. From Nationstar CEO Jay Bray:
"Today, real estate search engines allow you to search for homes, find the estimated property value of your home, and somewhat, realistically, those of your neighbor's. However, these search engines are not currently designed to allow consumers to transact, and lack a comprehensive fee-based business model. In short, their value is generally limited to real estate catalogs supported by advertising."
I see Trulia as a Realtor ad platform and I see Zillow as an infected, swayable, off-base valuation "tool." Nationstar's acquisition of massive servicing platforms, coupled with its mid-stream shift away from refinances, could facilitate such a tool's success, provided the technology provides accuracy, inasmuch as these things can.
I doubt it ever affects my business. Remember, when Al Gore invented the internet that was also going to change real estate and render agents useless and unnecessary also. Instead it made them more vital.
Is the website going to help you negotiate? Will it show up for the inspection? While the job has certainly changed since the arrival of the Internet, agents will never disappear completely.
Is the website going to help you negotiate? Will it show up for the inspection? While the job has certainly changed since the arrival of the Internet, agents will never disappear completely.
Agree with your sentiment and, no, agents will never disappear "completely". However, there seems to be a strong likelihood that because of what these websites are planning, there will be way fewer of us and we will probably be making far less than we are now.
Agree with your sentiment and, no, agents will never disappear "completely". However, there seems to be a strong likelihood that because of what these websites are planning, there will be way fewer of us and we will probably be making far less than we are now.
I still don't think that's the case. People said that about when the 'net starting coming into play and again when the "low service discount" brokerages were formed but so far neither has done that. I doubt Nationstar succeeds here either.
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