It will also refer companies to brokers. Brokers argue they are protected because they already offer more sophisticated consulting services. What customers really value is our ability to advise them and negotiate a transaction. And in some cases, brokers are willing to give up deals altogether. What brokers most hope to get from the Internet is raw data.
Real estate is a fragmented market with no centralized database.
With such services, tenants can survey office sites online before setting foot in a building. That should save the broker the hassle of escorting tenants through numerous properties. Most of the Web-based firms say they don't aim to cut out the broker, and in several cases prohibit tenants from accessing information directly. Where the Internet companies may be taking on the traditional brokers more directly is in online discount brokerage activities. Tenants use the company's Web site to calculate how much space they need, search for available space and to schedule appointments to visit prospective offices.