Bill Riss of Coldwell Banker Bain Associates, an independent agency that bought six Coldwell Banker offices, can rattle off a list of longtime independents that have either gone out of business or been acquired in the last five years. There will always be a place for the little 'boutique' agency with a strong personality that caters to a specific niche. But there is going to be a lot more consolidation. Unfortunately, it will be at the expense of the little guy. One of the most profound changes has been the rise of high-tech tools, from the virtual office to Internet websites.
Customers have more information than ever before available about home buying.
The major real estate companies have made investments into launching websites that post homes for sale, allowing customers to pick areas of a town or regions of the country to scout for possible homes. Most agree that the move to high-tech doesn't, by itself, actually sell any more homes, and that agents still have to work the deal. But many say it will result in the best agents being more efficient and selling more homes, which will add to the natural consolidation already underway. Relationship selling is still successful. The push to high-tech is also expected to help firms like Windermere and John L. Scott to increase their dominance over the regional market as smaller companies affiliate themselves with such titans to be part of a large Internet network.