"Economists have long been perplexed by the resilience of the real estate agent. " Business Week offers a fairly balanced essay on technology, the internet, and the residential real estate brokerage business. Some folks believe that commissions charged by real estate brokers are too high. Really smart, and aggrieved people, believed that technology could change all that, sort of like it did for the travel agent. Your friendly blogger has more than a passing interest in this subject, although my industry doesn't really need my defense. The fact that it is still intact, and actually little changed, despite varied assaults over the past 30 years, suggests that even though economists may not, the marketplace actually understands the value being provided. Go team!
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