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Sign into your accountThe Real Estate Transaction Has Been Commoditized
January 21 2015
What are you doing about it?
Every agent is different. Every consumer is different. Every house is different. But the process and the transaction is not. It's about the same wherever you go. Think about it:
- Is there much difference between how you do a real estate deal and your competitors?
- Is there much difference between your mortgage partner does the mortgage and their competitors?
- How about the settlement service provider?
NO, NO, and NO! Due to RESPA, CFPB, MLS, and board rules, among other things, the real estate transaction has been commoditized.
So what are you doing about it?
Think about it. Your real estate transaction has been commoditized. What does this REALLY mean? Consumers already feel like they are paying too much in commissions. If the real estate transaction has been commoditized then, eventually, if not sooner, it will all be about price.
Let's play that out a bit...anyone who is a traditional broker will be in trouble. Many are in trouble now because they haven't figure out the way out of this mess.