If new online media (or new online business models) were able to compete with estate agents on a level playing field, the effect would be that estate agents would be less able to guild-the-lily in order to win instructions because the online presences would help to expose that.
For example, if a badly set up estate agency tried to win business by over-estimating asking prices, online business models with more accuracy and less incentive to do that would be quoting lower asking prices. This would result in those houses being sold elsewhere, effectively causing the badly set up estate agency to loose business.
It would also have the effect of helping those wishing to sell and move, to accomplish that by using an online house-marketing service like ours. It would therefore be a WIN-WIN situation.
Posted by: Property Match (UK): Press Release: Peter Hendry, Consultant in Housing Valuation