The future of RE agents?????

[Kathy V.]

In full disclosure, I AM a licensed RE agent.

But as an Investor, I have asked myself that question. And I say: it depends.

Most good agents build relationships with their clients. And most good agents are resources for just about anything: attorneys, financing, handyman, lodging, schools, etc.

If you're looking to only use an agent to "look" at the mls, well then I think you get what you get. (BTW, here in NY if I give a non-licensed person access to the mls, that is a violation and I could lose my license.) Agents PAY for the use of their mls, through dues. We pay to belong to a local board for those privileges.

I've read on other threads about this agent does this or doesn't do that. Agents perform ALOT of non $$ things for their clients. Good agents know how to build their business and referrals. And sometimes, after all that work, the agent is the FIRST to get thrown under the bus. And the FIRST person everyone looks to when there's not enough money to close so "can you cut your commissions?"

The internet has changed the agent's job so much. I myself am able to research alot of properties BEFORE I even have to call an agent.

So I'm just putting it out there: What future do YOU see for RE agents? And can agents do NOW to help investors solve their problems?

[J Scott]

Originally posted by Kathy V.:

So I'm just putting it out there: What future do YOU see for RE agents? And can agents do NOW to help investors solve their problems?

In my opinion, RE agents will eventually go away. As information becomes more widely and easily available, the system of real estate transactions will become more frictionless, and will eventually be commoditized.

I wouldn't be surprised if real estate "consultants" remained -- people paid on an hourly basis to help with transactional details and paperwork -- and I wouldn't be surprised if real estate attorneys took a more prominent role in the complicated transactions, but I don't think the value of real estate agents is there.

Ultimately, agents do the following:

- Help procure buyers for sellers and help procure housing prospects for buyers;

- Help with negotiation;

- Fill out forms and deal with procedural details of the transaction;

- Coordinate closings.

The first bullet above is by-far the most important, and eventually the Internet will provide the ability for buyers and sellers to find each other without a middleman.

All that said, real estate agents have a very strong lobby, so they probably won't go away as quickly as they should.

And full disclosure, I'm a licensed agent.