Real Estate Agents and Dodo Birds

Steven and Stephen, the dynamic duo behind Freaknomics have a bit on Real Estate Agents being added to the Endangered Species list in the New York Times.

Nothing new to anyone with a little understanding of the real estate market and how the internet has dissolved both travel agents and stock brokers. The more conversations I have about the real estate industry, the more I see how ripe for change it is. Nice to see the issue in the NYT.

Let’s say it takes 5 years of owning a home to make it worth the closing costs. Now, let’s say the home sales slow just a tad. Just enough to push out the timeframe to 7 years. As the NYT article reminds us, 7 years ago stock brokers and travel agents had yet to be replaced by online tools.

Now just might be the last opportunity to sell or buy a home with an agent.