Web-based brokers like ZipRealty and Redfin say they’ll not only survive the upcoming U.S. real estate downturn, but actually profit from it, says this article in Red Herring. Even though the “Internet does have the potential to disrupt the way homes are bought and sold, taking a bite out of the $2-trillion U.S. housing market”, does that mean traditional real estate brokers will lose out to their new competitive rivals?
According to Greg Sterling, founder of Sterling Market Intelligence, “the softness in the housing market is going to challenge online sites because they are relying on customer demand to drive advertising revenue.” Even with the emergence of large, well-funded web-based brokers, the market will still need the individual real estate agent to add the personal touch that real estate has always demanded. Where do you stand on the need for having a strong presence on the Internet?
Read More: RedHerring.Com
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