Will Technology Hurt Buy-Side Practitioners?Visual marketing tools entrepreneur Alex Zoghlin, CEO of VHT Inc., asks real estate professionals a tough question: Do buy-side practitioners really deserve half of the commission paid by the seller if buyers are doing most of their research online?
“[Equally splitting the commission] worked great 15 years ago," Zoghlin says. However, he maintains that buy-side practitioners have been overshadowed by technology that leads sellers to properties and helps them make decisions.
VHT is testing a search-engine optimization platform that will allow a potential buyer to type a few key search terms — three bedrooms, big yard. The results that pop up will link to local real estate brokerages instead of aggregator site like Trulia or Zillow. The software also returns local results when an exact address is typed in.
Source: Chicago Tribune, Mary Ellen Podmolik (06/11/2010)
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