I went to a presentation by Redfin today. They are transforming the real estate business. Goodbye, 6% commissions. If prices come down enough for me to buy a house, I'll buy it through Redfin, which rebates 2% to the buyer. 2% in my neighborhood is a shitload of money.
Redfin is a private company, funded in part by Draper Fisher Jurvetson, and will IPO if the real estate market rebounds or they achieve global domination. My bet is the latter happens before the former (just kidding - sort of).
If you're in the market to buy, check out Redfin's site. If they haven't come to your area yet, they will.