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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  March 8, 2006  |   Stevens: Internet Won't Kill Full-Service Real Estate Tom Stevens, president of the NATIONAL ASSOCIATION OF REALTORSŪ, has sent a letter to The New York Times Magazine, criticizing an article in Sunday’s issue that claims full-service real estate practitioners are headed for extinction. The article, Endangered Species, is authored by Stephen J. Dubner and Steven D. Levitt, who are known for their book Freakonomics: A Rogue Economist Explores the Hidden Side of Everything. In his letter to the editor, Stevens calls the March 5 article “a vicious attack” on real estate practitioners and says it contains “so many errors of fact and false assumptions that there is insufficient space here to put the record straight.” Drawing comparisons between the real estate industry and the pre-Internet days of travel booking and stock trading, the article states that home sellers will use free tools on the Internet to price their home and locate buyers — making real estate practitioners a thing of the past. “What real estate agents do is very different from travel agents or securities brokers,” Stevens says in the letter. “Every piece of real estate is unique, the transaction process is complex and, if you will excuse me for pointing out the obvious, real estate is the original bricks and mortar business.” Visit REALTOR.org to read the full text of Stevens’s letter to the editor, which he mailed to The New York Times Magazine on March 6. — REALTORŪ Magazine Online

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