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May 16, 2007 -- Discount real estate services growing

Real estate agents are terrified these days. The Internet – and the discount Web sites that have succeeded on it – has decimated the industry. And, now it’s a civil war; agents against agents. Traditional agents want to keep commissions fixed. Some have even tried to get legislatures to pass price-fixing laws. Other agents realize that the marketplace is going to win out so they’re offering full service a lower commissions. There are also several great sites offering a menu of services based on how much help you want. A new example Clark just learned about is the site redfin.com. There is a very limited menu and it’s only available in certain areas, but word about this company is spreading like wildfire. One controversial area of the site is the review area, where people who’ve looked at houses can then rate them. The company is in a lawsuit right now over these postings and has taken them down for now. But people crave that kind of knowledge and the idea of a more open market.
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