A Response to Business Week, Part Three

This is part three of our Response to an article in Business Week entitled “How a Trulia-Zillow Merger Could Finally Change the Business of Real Estate.” You may wish to read Part One and Part Two first.

Consider the following the quote from Mr. Stone’s article, which we consider to be a good summary of his case:

“Change in the real estate business is inevitable. When buyers are finding homes on their phones, taking virtual tours, and securing loans online, brokers add less value to the transaction. Likewise, sellers can prep their houses and find buyers with a few clicks of a mouse and no longer need to lean as heavily on an agent.”

The buyer and seller portions of this paragraph sum up nicely the flaw in Mr. Stone’s thinking.  It is clear he believes that the ability of the internet to make certain things easier and more convenient in certain ways means agents will “add less value” for home buyers and sellers.

We have not found this to be the case.  What we have found are competent agents, learning to master and bring to bear every tool the internet age has to offer in service their clients.  This is already happening, and has been for as long as there has been an internet.

Agents who cannot adapt, who rely on dated tools and methods, will leave the business.  Agents who sadly misperceive their own value in the same way Mr. Stone does are probably already gone – they have been wrong about this business since well before the dawn of internet.  Individuals without an agent will continue to buy real estate for more (on average) and sell it for less (on average), all while putting in more work of their own – a choice they will remain free to make.

Which leaves us with the part Business Week and Mr. Stone got right: “Change in the Real Estate business is inevitable.”  Indeed.  The pace of that change can be alarming.  It is our job, and the job of any good agent, to make sure our clients benefit from that change rather than suffer for it.

If you are looking to buy or sell Vail Valley real estate, we have the tools and the expertise to help you get the job done. That will never change, no matter what new and exciting tools the internet age may bring us.

Leave a Reply

You must be logged in to post a comment.