Real Estate recovery can last two years but brokers will get wiped out
Karen Zuba
Apr. 6, 2007

The real estate market especially the residential sectors are recovering slowly. The number of unsold homes is steady and has stopped rising any further. However, in the high-end market containing above million dollar homes, the prices are still falling rapidly. The new homes priced above one million dollars are now a great bargain.

The real squeeze is on full service real estate brokers. These brokers are going belly up. No one is willing to pay hefty commissions when the prices are falling. The brokers are trying to get commissions from the buyers but buyers are reluctant.

The real estate brokers have over years created a clout with political underpinnings that make it necessary for homeowners to go through the multiple listing services. That requires a broker. And the process diminishes the possibility of the selling by the owner. Internet has made a real change. Internet transaction with Escrow services avoids costly real estate brokers and attorneys. The title insurers, the attorneys, the real estate brokers, the appraisers, the mortgage brokers, the inspection companies…. the list goes on who make big bucks on home resale. Now things are changing. The real estate brokers are slowly getting totally overlooked.

Real Estate recovery can last two years but brokers will get wiped out
Karen Zuba
The title insurers, the attorneys, the real estate brokers, the appraisers, the mortgage brokers, the inspection companies…. the list goes on who make big bucks on home resale.
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