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THE INTERNET’S EFFECT ON REAL ESTATE BROKERAGES

The increased ease with which homebuyers and sellers can perform tasks that once were the exclusive domain of real estate agents and brokers (use of internet) likely has been an important factor in the increased demand for innovative, non-traditional real estate brokerage service.

By reducing the cost of transmitting and searching information, the Internet has enabled consumers more easily to educate themselves about all facets of home buying and selling.  For example, before the introduction of the Internet, consumers had to learn about homes for sale through real estate brokers, or through various offline marketing vehicles, such as yard signs, newspaper advertisements, or real estate magazines.  Consumers now have access to listing information from a variety of online sources.  Many brokers market their listings on national web sites.  Consumers can view these listings before contacting or forming a relationship with a particular broker.

The MLSs create an “Internet Data Exchange” (IDX), a data feed that participating brokers may use for their individual websites.  Broker IDX websites enable home sellers to get greater exposure for their listings and enable homebuyers to search listings.  To Put it proper perspective, almost all agents and brokers have IDX websites.  So image I you will, any person visiting one of those IDX web sites is seeing homes for sale in the area they choose.  The exposure for home sellers is tremendous.  This type of exposure far exceeds and advertising medium available to brokers.

The Internet has expanded the amount of information available to consumers, making them more knowledgeable thanks almost entirely to the growth of the Internet.  A generation of American consumers is now comfortably and constantly connected to the Internet and to eCommerce.