The Internet has radically changed the way consumers buy books and airline tickets, trade stock and learn news. But the real estate industry has resisted change — and protected its commission structure — by controlling the information on its Multiple Listing Service database of properties for sale.
Two NYT pieces caught my eye today. The first by Damon Darlin on Redfin’s role in shaking up the real estate industry and the second by Jeff Leeds on Pandora’s role in shaking up the hierarchy of tastemakers across popular culture. Both are great examples of technology enabling the revolution and evolution of markets. While I am not a fan of the repeated use of the term consumer by Damon and Jeff both pieces are recommended reading.