http://lansner.ocregister.com/2011/06/17/web-wont-replace-real-estate-agents/113939
I always wondered how long it would take for the web to replace the RE agent. I figure as the non-tech savvy older generation get phased out (i.e. die) this would create opportunities for buyers and sellers to save on the ridiculous amounts on commission. What is the biggest obstacle to accomplishing this? Is the NAR using all their resources to prevent this from happening? At the very least, I could save on buyer agent commissions by using a relative's access to the MLS and searching for homes I am interested in. I could then have him show me the homes that are vacant or just use his Supra key (I am sure this is illegal though). For the non-vacant homes I could just contact the listing agent myself and schedule a time with the occupant.
Off the top of my head, here are some things that a buyer would need to do away with buying agents:
1) Access to the MLS or another site that is updated as often (sites like Redfin are slow to update). We also need the listing agent's contact info
2) Access to the Supra key. Perhaps we can have people rent this device while collecting all their info so they do not abuse this by throwing parties in vacant homes (how is this controlled right now if an agent shows the house and something gets damaged?).
I figure if someone is smart enough to afford an 800k home then he/she should be smart enough to accomplish the tasks that a buyer's agent does. If I am not mistaken, all the difficult legal situations are taken care of by the escrow company and not the buyer's agent.
What else am I missing?
I always wondered how long it would take for the web to replace the RE agent. I figure as the non-tech savvy older generation get phased out (i.e. die) this would create opportunities for buyers and sellers to save on the ridiculous amounts on commission. What is the biggest obstacle to accomplishing this? Is the NAR using all their resources to prevent this from happening? At the very least, I could save on buyer agent commissions by using a relative's access to the MLS and searching for homes I am interested in. I could then have him show me the homes that are vacant or just use his Supra key (I am sure this is illegal though). For the non-vacant homes I could just contact the listing agent myself and schedule a time with the occupant.
Off the top of my head, here are some things that a buyer would need to do away with buying agents:
1) Access to the MLS or another site that is updated as often (sites like Redfin are slow to update). We also need the listing agent's contact info
2) Access to the Supra key. Perhaps we can have people rent this device while collecting all their info so they do not abuse this by throwing parties in vacant homes (how is this controlled right now if an agent shows the house and something gets damaged?).
I figure if someone is smart enough to afford an 800k home then he/she should be smart enough to accomplish the tasks that a buyer's agent does. If I am not mistaken, all the difficult legal situations are taken care of by the escrow company and not the buyer's agent.
What else am I missing?