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The Internet

Submission + - Real Estate Agents "Under Assault" by the

An anonymous reader writes: CBS's 60 Minutes featured a story Sunday night about how Internet real estate agencies are squeezing out traditional real estate agents' claim to six percent of every home transaction. According to the story: "[T]hings are beginning to change. What happened to travel agents, stock brokers and book sellers — the encroachment of the Internet — is beginning to affect real estate agents. And the sacred six percent is under assault." CBS profiled online real estate company Redfin, along with failed Internet real estate pioneer eRealty.com, which was muscled out of business by arguably unfair industry practices. With a Department of Justice anti-trust suit against the National Association of Realtors and Internet business models moving in to the real estate world, is real estate the next industry set up for disintermediation, or are traditional realtors too entrenched to let the market change?

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