You hit the nail on the head Robert. Look at what Remax has had to go through with Smythe Cramer and RealtyOne.

All of the sudden Top Notch Full time Realtors were in a position to negotiate their commissions and RealtyOne and Smythe Cramer got a serious wake up call.

Nexthome is making a serious dent in the listing market as well. The gluttonous days of Real Estate will be coming to head in the next 5-10 years. I gave an interview with a Real Estate publication a month or so ago and gave them an outlook on the industry in 20 years. It went something like this.

All homes will have a Carfax type report listed on it. (negating the need for Realtors)

Borrowers will log into a government website that will either approve or deny a borrower's loan application within 10-15 seconds. (getting rid of loan officers)

A list of homes in an area will be provided that fit the loan parameters.

Title Insurance will be illegal. Government will back and underwrite the loans and marketablility of title based upon huge databases maintained by foreign companies. (No title insurance required as per Uncle Sam)

Think this won't happen? Let's get together for cocktails in 25 years and laugh about the good old days.

George