Soft housing market brings greater expectations for brokers

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.