I disagree. The market WILL turn.

Sellers WILL need us and know that they can't DIY without a grief factor and possibly less result. 

Buyers may have technology but technology is not a real estate professional. It can be the devil in disguise, in fact.

This is no different than any previous cycle.

If you know your value and can deliver it, you will get your price. 

There is always price competition. That is a healthy thing.
However, to think the battle is about compensation would be barking up the wrong tree.
The battle is about actually giving the buyer and seller what they want in the manner in which they want/prefer it.
The real estate industry defiantly refuses to ask the consumer. That is the predictable outcome of being a manopoly. It worked in 1980 so we will keep doing it in 2021.
Yes, we could all be out of work, NOT because the consumer did not want us but becuase we never, ever listened to them. And as REALTORS, we know there is little point in listening because we are too encumbered and lacking the courage to respond.

Why do real estate professionals cost so much?  The same reason divorce attornies do... they're worth it!

There's one thing that is a constant in life and that is CHANGE Richie Alan Naggar AND we Will Adapt

The pressures to reduce commissions will continue.

There will always be buyers and sellers who need us and it is up to each of us to present our worth and our value when discussing commissions. This is where those of us who have been in the business for any length of time have an advantage over the buyers, sellers and newer agents who rely heavily on technology. 

What you think you become and if you think negatively about this, that will be apparent to others and it will become a self fulfilling prophecy.

I agree with Alexandra Ron and Alexandra Seigel as to predicting such things but do know that change is always underfoot.  So are unintended consequences.  

When I got into this business over twenty years ago, there were predictions that the industry was changing and agents would soon be irrelevant.

Yet...here we are!

Richie, I'm going to be in the minority here but I have to agree with you. Zillow, Rocket et al will change the Real Estate biz just like the car biz changed in the last 10 years or so with Carvana, Carmax and others. Commissioned car salespeople have become salaried test drive providers with no input into the transaction. 

Richie,

I am not a fan of predictions, and there will always someone or many someones who will nickel and dime everyone for those little puny rewards.  It is so easy for those with a scarcity mentality to feel that they should be in your pocket...A

Discount brokerages have been around since I got my license in 2002. The difference between now and then, we have the technology to do so many things from the comfort of our couches. Buyers and sellers will get what they paid for, nothing more, nothing less.

There are a few big companies offering cash for homes, and then reselling them.   They have quite a few listings right now.     I know my number of listings has decreased, things are changing.

FSBO’s had there day in the sunshine. Technology can benefit agents and their sellers and hinder those who want to do it themselves. Time marches On

Those who believe that theory will likely go work somewhere else, the rest of us will continue to charge a professional rate.

Home prices go up, the percentage for commission comes down... the net is the same.  

It is all about getting what you pay for. Consumers who want discount fees will get discount services. I find many consumers who tried it, it cost them money or time or both and they come to me for full service. They want a real person to talk to. Want local up to date info. There will always be a niche for great service. 

I don't see it happening anytime soon, when it does maybe it's time to ride off in the sunset.

Question? what is a realtor's value with the Zillows, and Homelisters of the world it becomes what you do that they either can't do or won't do? So what do we do that is above and beyond?

That is a narrative I claim as false. 

Define "near future". 

Consumers complain about high commissions consistently. They don't see the value. Instead of continuing to be paid a commission, why not change the compensation model? Commissions are high risk/high reward to the broker/agent. And no risk to the consumer. Change the risk-reward calculus and offer the consumer a different way to pay for professional real estate services. Offer to reduce your compensation (notice I did not say commission) as long as they pay for your time, knowledge, and expertise, as you provide the services to them. Consultants do it all the time across all types of industries. Why not the real estate industry? If the consumer wants a lower cost for professional real estate services, they can't expect a broker/agent to accept lower pay while assuming the same high risk. The consumer has to get some skin in the game to lower the broker/agent risk. It would be their choice. Provide choices for them; let them choose how they want to compensate for our services.

I can understand why this would happen.