Amazon is now in the real estate market!

[Steve Gerten]

It was only a matter of time.

What do you think this means?

Zillow + Amazon merger would create some ripples!!

https://www.google.com/amp/s/www.forbes.com/sites/christopherwalton/2019/07/25/amazons-new-partnership-with-realogy-is-a-prudent-act-of-desperation/amp/

[Don Konipol]

@Steve Gerten

In my mind residential real estate industry is ripe for disruption. The whole 6% MLS thing is seriously overpriced. Many purchasers are capable of finding a home on their own with little help from a realtor. However, the realtor "helping " them received the same 3% as the realtor dealing with clueless buyers who she drives around showing houses to for 3 weeks.

On the seller side, 3 % for listing on MLS is ridiculous. A flat fee of $500 would cover all the costs plus profit. Anyone can run comps, most realtors are not very expert in anything but marketing and selling.

The key is that the companies trying to disrupt the industry haven't been able to break the MLS monopoly. REX Real Estate is trying through digital marketing with no MLS listing.

The first company that is successful breaking the MLS hold will start an avalanche, and real estate brokerage services will become priced a la carte, rather than bundled in a take it or leave it 6%.

Should happen in the next 5 years.