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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  May 26, 2009  |   Experts Say Real Estate Industry Is Thinning
Some people are predicting that the current slump in real estate sales will mean a permanent thinning of the ranks among real estate professionals.

"The real estate brokerage industry is not going away, but the combination of efficiency gains via the Internet and the cyclical downturn will both be significant forces to their rapidly shrinking ranks," says Stuart Gabriel, director of UCLA's Ziman Center for Real Estate.

Other observers are not so sure. Yes, the Internet and the economy are having an impact on housing sales and the way some practitioners do business, but it won’t reduce the need for savvy advice, says David Emerson, an associate with Prudential California Realty with 25 years experience.

“Buying a house is a big deal,” he says – and the paperwork alone is enough to make many buyers avoid the do-it-yourself approach.

Source: The Los Angeles Times, Ricardo DeAratanha (05/25/2009)

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