Anyone who can simplify this convoluted transaction may just create the killer electronic commerce application, said Brad Inman, owner and president of Inman News Features , an online real estate news and information service. Existing Web sites offer pieces of the puzzle. Buyers can search through Multiple Listing Service databases of homes for sale or compare mortgage rates. Well, last week an unlikely contender joined the game. Microsoft Corp. said it is working on a real estate site code-named Boardwalk.
Consumer advocates are skeptical.
There is already a thriving online market for property, noted analysts at Ovum, Inc., a London-based consultancy. But Inman begs to differ. Their entrance and presence in the market will make more consumers aware that they can take control of the home buying decision. Of course, for many outside the industry, this isn' t exactly cause for celebration. Then again, if the Microsoft-ization of the world begins with real estate, it's unlikely to happen any time soon.