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Are You Prepared to Restructure Your Business
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The impact of technology in real estate could pale by comparison to the radical demographic and people-related changes of this decade according to findings like A. D. Little Company's 1999 NAR survey.
- The number of empowered FSBOs will more than double
- Aggregators (some in .com companies yet to be started) will deliver real estate services to 20% of the marketplace
- The role of today's real estate agent will all but vanish, transforming those with expertise and knowledge into a more professional breed - that of Real Estate Consultant
The good news is that hard-hammering, manipulative salespeople will be replaced by specialized consultants trained to determine and address the unique needs of each consumer - being compensated through new fee models including retainers and fee-for-services income.
"Based on consumer surveys, empowered online homebuyers and sellers also demand change in traditional agent compensation structure... already, according to a recent professional survey, 30 percent of agents discount more than 50 percent of their commissions. Trends like these will constantly challenge real estate professionals to reinvent themselves into more "high-tech, high-touch" cost-effective
team players, working with homebuyers and sellers."
Nick Karris, Real Estate Analyst
Gomez Advisors, Inc. (gomez.com)
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