Will Agents Become Obsolete?

The increased ability of buyers to take the lead in their house hunting quest along with the downturn in the Massachusetts real estate market has begun to produce some fallout. Recently, the Boston Globe reported that GMAC Real Estate announced that it was closing 15 offices in Massachusetts and New Hampshire. I was surprised that Brett Weinberg, a spokesperson for GMAC attributed the closings "to the growth of the online housing marketplace and other technology changes than to the state's housing slump." I wonder what the NAR (National Association of Realtors) will have to say about the comment as it certainly seems to undermine years of work the association has done to promote the necessity of its members. Today over 80% of buyers are using the Internet as the primary resource to look for real estate, feeling comfortable with technology and their ability to research data. During the real estate boom years the lure of making big money attracted many to the industry. It was easy to make a commission in an inventory-starved environment. Now that the tables have turned, it's not as easy to convince sellers that an agent's marketing skills are all that important to the sale.