While online sites may not pay rent for mall locations, they have high marketing costs because people need to find Web venues. Surely the Web has brought changes to real estate. Thousands of brokers have their own Web sites. Listings have migrated from closely-held MLS systems to online sites operated by state and local broker organizations, franchises, and online firms. All sellers are unique.
All buyers are unique.
All transactions are unique. The brokerage effort for each transaction is unique. Thus the Internet has become still another marketing and communication tool for brokers. The great irony is that while brokers have been quick to take advantage of the efficiencies offered by the Internet, Web industry economics are themselves now in question. We bought a home several years ago with a parent as a co-owner.