Industry NewsTechnology

Web pushes real estate agents out of spotlight

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: This special four-part series will explore who controls the average real estate transaction, who or what is challenging and changing that central role and how it impacts the industry and consumers. (See Part 1: Realtors have the power, Part 2: Battle is on for real estate consumer and Part 4: Lenders woo and sidestep real estate agents for customers.) Home sellers can log onto and advertise their house for sale in just a few mouse clicks. Their prospective buyers can browse through homes, check interest rates, get home buying tips and apply for a mortgage without ever leaving the site. And it all happens without a real estate broker or agent. In fact, the front page of features this message in big red letters: "Sorry, this site is not for use by Realtors or real estate agents!" For more than a century, real estate agents have been at the center of the average transaction. The biggest threat to that position may be the Internet as...