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Will there really be a world with no Realtors®, no mortgage people? No appraisers?

June 6, 2010

Will there really be a world with no Realtors®, no mortgage people? No appraisers?

Robotic ShopperI read an article today on Broker Agent Social, titled “Our Industry May Cease to Exist” by James Crumbaugh III. In the article Mr. Crumbaugh talks about how Google will be the end of our industry as we know it. Take a moment to read it. At first my heart sank, I had to read it a few times and let it sink it, chew it a bit and think again.

Mr. Crumbaugh talks about how soon, within 10 years, there will be programs in place that will allow a seller to place a home on the market, all information will be on there including a 3D tour of the home. The buyer will go through another program for a mortgage, will be checked out thoroughly, an offer made online, the whole transaction will be seamless. No need for a Realtor®, mortgage person, appraiser, nothing. Well, perhaps there will still be a need for a home inspector, but that seems to be it according to Mr. Crumbaugh.

He feels he is right, after all, the Hummer Dealership he flew over was closed.

OK, I didn’t quite get the leap from a total shift in how people buy homes and the Hummer Dealership being shut down. Perhaps he is talking about buying a vehicle online? I wouldn’t do that. I will search for one online, I will still want to test drive the vehicle, and I bet I will be going to a dealership to do so. I will be talking to the salesperson for sure to get as much info as I can.

What say you? Would you buy a home like this? Are we finished in 10 years? Will The NAR cease to exist? Are we done for? Will there really be a world with no Realtors®, no mortgage people? No appraisers?

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