Why I Can Say Things About The Home You Are Listing That You Can Not!
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Dustin over at 4Realz.net has an interesting letter he received about a MLS that is looking into opening up their listings to comments. Go give it a read and then come back.
For those of you not wanting to leave it essentially wonders about the issues that the MLS would face opening up homes to comments that may not be flattering to a home and or homeowners.
Here was my comment, I figured I would share as it talks to the issues that Realtors face when discussing homes:
I think this is the Catch 22 of the real estate world. They created a cartel that keeps real estate agent complaints in house with onerous restrictions in a tough marketplace.
Before the internet it was very difficult for information to be put out without going through the cartel (MLS) or one of it’s members without the cartel rules being invoked.
Add to that the pressure of the government adding another layer of restrictions and compliance factors, almost all homes are forced to be discussed in a very narrow way.
But with the internet and non cartel members there are ways to take this data and avoid the legal and industry barriers to the truth.
It will be tough when I as a non Realtor or agent can say things about a home that you can not when it comes to marketing or getting eye share for the information on real estate in a particular area.
The real estate industry is in a tough place due to the rules they have created for themselves. Savvy entrepreneurs will be able to slide into the marketplace and create a much more accurate representation of towns and cities that the Realtors will not be able to compete with.
While I as an active participant to a transaction would be beholden to the rules of the state and federal government, as a commenter I would be only held to those of the 1st Amendment. That will be tough for real estate agents to counteract on a property or region.
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Comment by Raj C. on 25 March 2008:
Elements of social netweorking are being weaved into every part of web 2.0. You’re either adapting, or not competing.
Comment by dean on 26 March 2008:
Raj,
But how can a Realtor compete when their industry has produced what essentially becomes a “gag order” the realities surrounding a home and it’s property?
The structure and business model Tommy speaks of reminds of the outdated blue laws that exist to this day in some states.
A question to all: Does this open up the real estate industry to an onslaught of tiny “Redfins” made up of non Realtors who then can paint an accurate picture of a property?
Does it also mean that within this onslaught of new home reviewers we will get the crazy slam artists we have in the overblown housing bubble niche?
Will some Howard Stern personality pop up with a new site called “Pile of Junk” and spend every waking moment hammering every home that deserves hammering?
These so called “elements of social networking” Raj sites really boil down to one and only one idea: Can I monetize through advertising on a blog that specializes in home reviews no holds barred?
Comment by Tom on 26 March 2008:
Dean
Comments like this is why I love you. Outstanding!!!
Tom
Comment by dean on 26 March 2008:
Tommy,
I am humbled by your kind words and fortified by the idea that everybody loves to play the critic at least once in their life.
Ebert and Roeper style internet tv show with every hovel from key west to west la?