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WASHNGTON-When we first began to hear about the World Wide Web five years ago, there was little real estate information online.Today nearly 150,000 Internet sites can be found under the term "real estate" and doing business on the Web has become a reality.
An Illinois broker put up a Web page and within a week had her first buyerbrokerage client. A Texas lender earns $4,000 to $5,000 a month in fee income from an informative Web site. A Tennessee broker sells several homes within a month to buyers found online.
While a growing number of brokers and lenders are enjoying good results on the Web, this new medium has also stimulated a certain amount of fear.
New technologies often mean an end to old products and old ways of doing business. If airline tickets can be bought without traditional...