Online Services Will Destroy MLS and Real Estate Agents Stranglehold
The stranglehold over real estate listings that real estate agents and the multiple listing services (MLS) has come to an end. The growth of Craigslist and Google have taken the exclusivity of information away from the agent and the brokerages and are not empowering the public.
10 years ago it was almost impossible to buy a home outside of the real estate agent. Now the internet offers all the information you will need to buy or sell a home. This article from The Wall Street Journal tells us how the landscape has changed and the future potential of the marketplace.
Listings of real estate for sale on Craigslist, a popular Web site featuring free classified ads, rose to 335,126 in March, more than triple the level of a year earlier. Google Inc., meanwhile, is testing a tool to help users sort through listings of homes for sale. Several more specialized sites launched in the past year — including Trulia.com, Oodle.com and Propsmart.com — offer free access to substantial numbers of listings.
Read the rest at the Real Estate Journal
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Comment by Abe Hoffman on 12 April 2006:
http://www.HomePriceMaps.com integrates how much homes SOLD for in your area as well as nationwide using the google mapping technology. If you don’t see data for your area simply email HomePriceMaps@gmail.com with your zipcode and or address and they’ll update the site and email you within a few days.
Comment by David Roney on 14 April 2006:
I’m not worried about the online powerhouses taking away clients. Zillow’s data are inaccurate and don’t take into account aesthetic upgrades in addition to many other factors. I had a client just a few minutes ago call me about something they found on Google that appeared to come on the market yesterday. I checked MLS and the property closed 2 years ago – same price, same realtor. Nice work Google. Computers are a wonderful tool, but can never replace the discerning mind.
Comment by Greg on 14 April 2006:
You can buy a car online, but a home is just too personal. No matter where you find the data about a house you still have to see it in person and walk throught the front door. Unless it feels right you won’t buy it. If there are any problems with the house the first thing you’ll want is an agent. I’m glad everyone has access to the real estate data. The customers are so much more informed and easier to work with.