Executive Summary. 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. This study collects employment trends by SIC codes and other sources, and analyzes 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.
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Baen et al. (1997) studied this question.
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