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Updated over 4 years ago, 04/12/2020
Is this the end of the Traditional Real Estate Agent Era?
For years now, we have all known that a good portion of the traditional real estate agents job is unnecessary. This is a heated topic for a lot of people particularly if you are an agent. The best argument for the traditional agent in my opinion is that some individuals have the ability to be in the deal flow, have good relationships with vendors, lenders, escrow agents etc. and know how to negotiate on behalf of the client.
Since everything has been moving remotely, the enormous fees agents have been getting has largely stayed in place due to the Lobbying powers of the NAR and belief that an agent can truly be the best financial option. Its taking awhile, but slowly over the last 10 to 15 years some of that has been chipped away. Discount brokerages, FSBO websites, etc. I wonder if this is the last straw?
My question, is this the end of the traditional agent? If most everything is being done remotely right now, how long will it be before agents start getting cut out of deals? I can guarantee there's not going to be many open houses this summer. LOL