Perhaps some good will come out of the softening of the real estate market. A year ago, homes were selling with little or no effort at all in some of the hottest markets. Some agents were reaping six-figure paydays just for breathing and, in many cases, they added little value.
But times have changed. The Wall Street Journal recently featured a list of 5 Things You Should Expect from Your Agent, and brokers are scrambling to find ways to add value to their listings. According to The Journal, "With the housing market in a dive and homes lingering unsold for months, the relationship between real-estate agents and their clients is beginning to change. Both buyers and sellers are demanding more from their brokers, and getting it."
This is exactly what they need to be doing -- and not just for this rough market. With the growth in online services making "for sale by owner" easier than ever, real estate agents must find ways to make themselves indispensable if they are to survive as a profession.
If the softening of the market forces them to do that, it could be worth it -- a few years of lower paydays is a small price to pay for the revitalization of an industry.
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Reader Comments (Page 1 of 1)
10-07-2007 @ 10:00PM
jhn_dormer said...
Maybe now that the foreclosure fiasco has put the brakes on the Real estate lobby, Americans can force their representatives to look at meaningful tax relief, instead of that phoney mortgage deduction the real estate lobby pushes over real tax cuts. Lets get the real estate lobby out of American tax policy!!!
10-07-2007 @ 10:00PM
Janet said...
My realtor was worth her weight in gold and added more value to my purchase than she earned in
commission. I realize that is not always the case.
There is lots of tedious and not always productive
work involved in being an agent, it's not the honeymoon people think.
I am not an agent or related to any part of the industry.
10-08-2007 @ 1:38PM
mkortas said...
The For Sale By Owner market is very lucrative right now.
Try going to www.ByOwnerNation.com. You can list your home for free without the worry of your Agent doing a good job or not.