12-13-2010, 02:24 AM
I expect online services to replace agents and retail mortgage folks in the next decade.
Buyers and sellers are ever more sophisticated. Lenders, sellers will be able to meet with buyers online to offer their wares.
My last escrow instruction and agreement - written on the back of a paper bag - grin
We are working on web based models for another industry. What we are up to could be easily used for real estate.
We are not that far ahead of the pack. I expect a company like google to get in the biz...... they already have all of the maps / photos and marketing in place
Once the market stabilizes I would expect a whole new online model.
In the meantime a little self policing and a 4 year economics or finance degree requirement for prospective agents and loan reps (& anyone advising clients as to re transactions) would go a long way in restoring the credibility of the profession (s).