Kris Berg at www.sandiegohomeblog.com puts out some interesting ideas on the current and future state of the locals MLS systems. As we reported the NWMLS decided last week to give realtor.com the heave ho. Are others to follow? Is there a downside if they do? Where is all this headed?
Kris takes a clear, even-handed view of this topic in her post entitled, “Time to Defrag?” I know everyone has an opinion of this volatile issue. I recommend you read this post to broaden your horizons. It may not change your mind on anything, but it will make you think.
Jon, Thanks for the acknowledgement. Steve and I spent some time this weekend discussing whether or not we should give Realtor.com our personal heave-ho. The NWMLS wasn’t the catalyst, of course, but it did get us steaming again about their model and the extortion we have witnessed over the past few years. Unless we want Zip Realty banners blinking across our listings, we are put in the position of having to pay thousands a year to get OUR contact information posted next to OUR listings - This from the “Official Site of the National Association of Realtors”! I think NWMLS may just be onto something.
What would you say to your buddy if he called you in the middle of the night with an ingenious business plan. Create a website that people can go to to see what’s for sale on eBay!! Wow, think of the traffic he could draw because lots of people want to see what’s for sale on eBay! But wait a minute, why wouldn’t they just go to eBay to see what’s for sale on eBay? Oh, that’s right, they would just go to eBay. Well, the real estate industry has created such a hodge-podge of antiquated, old-boys-club, protectionistic, dinosaur mentality MLS systems that are “closed shops” (ie closed to the public), but what about the Internet? What about the IDX policies? What about Realtor.com (the official website of the NAR, right?)? So, I guess the public does have access to the listings?
The point is that if the NAR were run by a modern-thinking management team and Board of Directors (instead of one of the most top-heavy, beaurocratic, union-mentality conglomerate of self-interested competitors) there would be one common MLS system used throughout the country (and the world). There would be one website that people everywhere would go to for Realtor listings (maybe they could wrestle the domain name Realtor.com back from HomeStore?).
Geez, if they did that their business model could enjoy the bounties of “network externalities” (not sure what that means? look it up). Those network externalities are the reason that the MLS’s were so successful for the past 40 years, and now that world has shrunk (ie mass communication and instant information), the NAR better adjust or prepare to abandon ship…
Realtor.com is a bunch of hoo ya. I cannot believe they get away with
charging me 305.00 not to be a member and 350.00 just to say I am a REALTOR. I do not receive any additional benefits.
I feel this is extortion and I will see about what I can do to get their hands out of my wallet and my real estate business.
It is one thing to pay MLS and Sentrilock fees, at least we get something from those.
But to plain out extort money from me, If you don’t pay us, you cannot work is flat out extortion and how they go about putting the squeeze on my broker to put the squeeze on me is uncontionable.
I want Realtor.com put in their place.
Shannon
Real Estate Agent
Charleston SC
hey
its very reasonable point of view.
Good post.
realy gj
thank you