[quote=EconProf]
So the question remains: Will Redfin, and maybe similar companies (Zillow?) change forever the process of buying and selling real estate?[/quote]

In my opinion, there is room for both and neither will die.

First time buyers in particular need to be guided through the buying process. Redfin can do it, but some may want an even closer personal touch that a traditional realtor can do.

I just guided a relative through the first time buying process and they were extremely confused even though they had a traditional realtor (RE/Max). They’d call me each evening and tell me what the realtor said, and either the realtor was way off or they mis-translated what they thought they heard…I still had to give a LOT of guidance even though they had a traditional realtor.

The internet is giving folks an entirely new option for buying. Even in cars sales – look at the Tesla model where there are no dealerships, though you can go to a company storefront to test drive.

The ratio of traditional vs net-based will continue to change with net-based deals becoming more prevalent, especially with those who are younger.