BrokerageIndustry News

Cutting out the middleman

From The Real Deal

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

Editor's note: This article is reposted with permission by The Real Deal. Click here to view the original article. By CANDACE TAYLOR NEW YORK CITY -- For some buyer's brokers, it's their greatest fear come to pass. More and more apartment-hunters, armed with listing information gleaned from the Web, are representing themselves rather than using a real estate agent. "I have buyers coming at me (at open houses), unrepresented, clutching fistfuls of paper," said Halstead Property Senior Vice President Charles Homet, who primarily works with sellers. "They pride themselves on their Internet acumen and they feel they have enough information." This is the long-feared bogeyman of the Internet era for buyer's brokers: the idea that buyers will no longer need them because they can find listings online and deal directly with the seller's agent. And while buyer's brokers clearly have an advantage right now in the soft market, the long term is a different story...