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Currently there is explosive growth in the availability of
databases that may be merged to create “user friendly” real estate-related
market information and services. A
reduction in traditional personal customer services required (e.g., Competitive
Market Analysis), and the ease of collection, assimilation, and processing of
information, will have major implications for the real estate industry and
future employment prospects. A study was conducted by SIC codes and other sources to collect employment trends and analyze the rapid changes occurring in the areas of real estate brokerage, finance, appraisal, leasing and title insurance, due to technology. The findings suggest that the number of real estate participants currently employed should decline significantly because of increased efficiencies. Property buyers and sellers may eventually receive an income transfer from licensed agents, lenders, appraisers, attorneys, and loan servicers. |
