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American real estate pie

The Davison Files

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

A long, long time ago I can still remember the tools used to practice real estate. A legal pad, Selectric, Bic Clicks, an MLS book and a poodle. The most pressing expense was the dog food. Times changed. PCs replaced typewriters. Bics were replaced by convention giveaways. MLSs went digital. Alpo was replaced by designer kibble. Moss grows fat on a rollin' stone Between 1996 and 2006, homes sold before yard signs stabbed the front lawn. The first wave of dot-coms ushered consumers onto the Web. The nickels Realtors invested into Web sites returned hundreds of millions of dimes in commissions. During that decade rookie agents joined brokerages for a $75-a-month desk fee and sold homes to friends and family who in turn got licensed and became part of the growing real estate debris littering the fertile market. Life was great. Moss grew fat on a rollin' stone.As with all good things, the end loomed. The day the music died In 1966, Cream emerged as rock's first super group. Many follo...