Internet Causes GMAC Real Estate To Close 15 Offices in Massachusetts and New Hampshire
GMAC Real Estate is on to something. They are closing 15 offices in Massachusetts and New Hampshire.
Why you ask? Well, they announced that buyers are starting their searches on the internet and do not need to visit offices as often. By using the internet, buyers do not need to have an office nearby to view listings and have close contact with the real estate agents.
This is very logical, sort of like how banks in the 1980’s contracted and closed branches when ATM’s were introduced. The need to have the full service tools close by were not necessary when 90 percent of ones banking could be done through the ATM.
So now the same is happening with Real Estate. The advent of internet listings and searches, email, and remote contact tools have progressed in real estate to the point that a local full service office is not mandatory for a real estate firm to be successful. Most of the agents work can be done from home and the buyers and sellers can be kept up to date more effectively than they could have in the past from a full service office.
I think GMAC is ahead of the curve on offices and probably this will turn into a trend in the coming years.
GMAC Real Estate is closing 15 offices in Massachusetts and New Hampshire and laying off staff as home selling and shopping increasingly migrate to the Internet amid a housing slump.
The Minneapolis company said yesterday it would lay off about 50 managers and support staff during the consolidation in New England. By Dec. 31, real estate agents in the affected offices will be relocated to GMAC’s remaining 35 offices in the two states. via The Boston Globe.
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
I see the question I have, but no response. I do not have a for sale sign up ...
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[...] about working the numbers and employing street smarts in an electronic society. It’s about bucking an antiquated way of doing things and increasing your odds in a highly competitive market. This is a must read for buyers and [...]
Comment by Uncle Jack (Jack LeVine) on 17 December 2007:
that’s why the KW model works so well, with a goal of 200 agents per smaller office space. Still need to have somewhere to hang the licenses, etc. I haven’t had an office in the “office” for 10 years.
Pingback by FSBO Jane » Closing Real Estate Offices on 18 December 2007:
[...] saw this coming? Maybe those of us who’ve been crying out about the disappearing need for real estate [...]