Sep
30
Sep
29
Sep
29
Spotlight on Jonathan McCoy: Committed to Eliminating the ‘N’ Word’ (Black Voices)
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Sep
29
The War Between Online Real Estate Information and The MLS
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Never forget the power of entrenched interests. While the new guys are focused on innovation and extention, the old guys typically spend all their time protecting what they have. Till it is gone.
The battle between the online real estate services (Zillow, Trulia, blogs) and the MLS systems took another turn in Washington state recently. The old dogs found a nifty little loophole to force the new guys to adapt, or get fined thousands of dollars.
If this sticks, expect it to be replicated across the country rather quickly. The MLS systems hate when you take their cheese and are fighting back.
Starting this week (Oct. 1), the Northwest Multiple Listing Service is introducing new real estate blogging guidelines that will let homeowners decide if they don’t want other agents to write about their homes. That means they’re no longer in danger (well, in as much danger) of someone trashing their property online or writing snarky comments about how their lovely abode is much overpriced.
If agents break the rule, they’ll be fined by the NWMLS — perhaps thousands of dollars. (There is a grace period for them to get their blogs in order, though).
Perhaps more interesting is that sellers can also choose not to have an automatic valuation (think Zillow) placed next to their property online, which saves them from the embarrassing situation of having that value differ dramatically from the listing price. Seems like this could really affect Redfin, the Seattle online real estate brokerage that has very active communityforums. via Pudget Sound Business Journal
Here is my question to the folks in Washington State that run Northwest Multiple Listing Services. What is to stop me, a non Realtor and entreprenuer, from coming in and posting all this information and providing links to real estate agents? I may end up so far ahead competitively than you and your defense will have failed.
This is my biggest gripe, the MLS system’s failed to do what agents needed. That is why the market place came up with alternatives. They failed so badly their competitors can give away what they charge thousands of dollars for and still make money.
Yet the MLS folks know that to protect their paychecks and their power they need to erect defensive walls to punish their members. Yes, the folks who elect to join their organization will be the ones to be punished. Because, MLS folks, the market is much quicker than you are and much, much craftier than you ever will be.
You had your chance to protect your monopoly, and you FAILED. Once the fox is in the hen house all you do is fight a rearguard action sacrificing your soldiers (members?) to protect what you already know is lost.
Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.
The War Between Online Real Estate Information and The MLS
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Sep
28
Expand historic tax credits, Carnahan says (St. Louis Post-Dispatch)
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They have helped revive tired old houses across his district and much of St. Louis. Now Rep. Russ Carnahan is trying to help residential historic tax credits go national.
