Internet is overvalued, says RE/MAX founder

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SAN FRANCISCO -- When RE/MAX International founder and chairman David Liniger entered the real estate business, technology was an IBM electric typewriter with a self-correcting ribbon. And consumer access to property listings was a printed multiple listing service book -- intended for agents only -- that agents occasionally lent out to clients. Now, the Internet has taken hold. But its impacts on the industry have not been as dramatic as one might expect, Liniger said during a real estate conference Wednesday. "The Internet has not affected RE/MAX growth, profitability, share or whatever. Despite six presidencies, four major recessionals and all the technological changes that have occurred, it has not upset the apple cart," Liniger told an audience during Inman News' Real Estate Conference, which draws real estate professionals and technologists from around the country. A true adventurer who has flown in hot-air balloons and jet planes, the RE/MAX founder rattled off a top-10 list of ...