This is an interesting Video that I found via The Real Deal.
Core Group Marketing’s Shaun Osher recently sat down with Woody Heller, executive managing director and head of the capital transactions group at Studley to discuss where the commercial brokerage industry is headed. Heller said he believes the Internet has transformed the role of a broker and made the job more interesting and challenging.
It was all the more interesting because I recently had a conversation with a friend of mine, who recently founded a boutique downtown brokerage, about the true value of broker.
I’ve long felt that many brokers only add negligible value to a real estate transaction, except in truly complex commercial transactions or in instances where the buyer or the seller are largely uninformed.
This is because the internet is rapidly changing the nature of information and especially the nature of word of mouth. As real estate markets become more transparent, informational advantages that contribute to below market opportunities are becoming more rare.
The kind of information that most brokers used to charge for is now easily found on the internet.
Why hire a broker when you can implement social media for free or most internet marketing for a fraction of the cost?
Thoughts.
