Why (I hope) buyers agents won’t go the way of buggy whips

Article here on what a listing may show and what the reality is. A listing that claims 3 bedrooms, for instance, may be counting a basement cubby hole – perfect for Filipino maids, in the minds of some Greenwich homeowners, but not a real bedroom. Similarly, a house on the water may not be able to be expanded because of coastal regulations, the lot next door may be the planned-for site of the Osama School for Terrorist Boys, etc.

None of which is necessarily discoverable via Zillow, Google or your Manhattan friends who weekend in Greenwich. So I’m all for the Internet and its easy dissemination of information but I’m not losing sleep over being put out of business. Yet. By the time the Japanese perfect those cute robots they’ve been working on, I hope Walt and I have retired to the Rockies.

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3 responses to “Why (I hope) buyers agents won’t go the way of buggy whips

  1. Anonymous

    Much like good M&A IBers (or hedgies), mkt participants ultimately determine what level of fees make economic sense, no matter allegedly “free”, public data out there for the DIYers…

  2. Cos Cobber

    Buyers Agents in some more uniform markets may become obsolete, but not in places like Gwich were every nook and cranny has a story.

    I predict institutions such as GAR will see greater role reduction if the likes of Google and Zillow stay interested in the RE info arms race. Orgs like GAR may actually have more legs in rural areas where Google and others will be unable to generate the necessary ROI for their data hunts.

    Btw, when does the GAR intend to rule on your case?

  3. Buyer

    I liken a seller’s broker to asking the IRS for advice on tax savings verses a buyer’s broker who is a savvy accountant who knows the law and the loopholes.

    In fact, I wonder if true buyer’s brokers won’t become more popular in the future. I am tired of the perky agent who dwells on the obvious — “These are granite countertops!” — duh. Or worse, never mentions or knows a house’s drawbacks. With seller’s brokers, I always feel like the victim of a con. Yes, I can gather data and comps from the web, but I need a TRUE buyer’s broker. I now question brokers on how well they will fight for me — do they understand my needs, know the area cold, and know the background on houses — so can they provide blunt, honest advice. We all need that more then ever.