Mon 6 Mar 2006
No Agent Left Behind
Posted by Marlow Harris under Real Estate
[3] Comments

There’s lots of buzz about Steven D. Levitt and Stephan Dubner’s article in the NYTimes entitled “Endangered Species”: Why Real Estate Agents Are on the Way Out”.
Their premise is that there are too many real estate agents, they charge too much for their services and, thanks to various market pressures and especially some recent online innovations, the real-estate agent will soon join a list of endangered service-worker species.
Jonathan J. Miller in Matrix points out that this is an overly simplistic comparison simply due to the importance of the dollar amount of the transaction.
Inman Blog notes “While comparing real estate agents with travel agents is convenient for argument sake, buying a home is quite different from organizing a family trip to Maui” and invites readers to comment on the article.
I take particular issue with the hostility shown by Levitt and Dubner. Either they had a bad experience, they’ve found something “meaty” to grab on to further their book sales, or they truly resent the career choices and salaries made by real estate agents.
I can point to a few phrases the two use to convey their contempt, but the article taken as a whole, has more power than the few examples I can give. However, the first sentence starts out by setting the tone for the entire article: “It is hard to think of an occupation that garners less goodwill these days than the real-estate agent. More often than not, agents are portrayed as hustlers or sharks, unimaginative opportunists who, for not all that much effort, pocket a significant chunk of the sale price of your home.”
Funny, I never felt any lack of goodwill from anyone… until I read this!
Their piece in the New York Times is just one in a series of increasingly hostile and bitter articles from commentators and writers criticizing real estate agents. Reading Damon Darlin’s blog entries and the comments he incites on The Walk-Through makes me wonder what prompts such hostility.







March 6th, 2006 at 10:43 pm
It’s really no different than the rest of the world, the rest of the time.
The problem is that these techies and business school grads are SO SMART, they resent anyone without their background getting ahead. It’s a “class” thang….
March 7th, 2006 at 9:03 am
Read the NY Times article it seem to have some merit.
Boston Condos
March 7th, 2006 at 11:43 am
I don’t think they’re being hostile, I think they make a compelling argument that Real Estate is a troubled career (which they DO liken to Stockbrokers and Travel Agents in the late 90s). If anything I think they do a service to realtors by warning them about what’s going on. There are too many realtors and there are many tools now available for consumers (as they mention with Travel and Stocks in the late 90′s) that allows them to bypass using a realtor.
I’m in the middle of a buy/sell and didn’t use a realtor for either end. It may have been a little extra work, but it saved tens of thousands of dollars, well worth it.