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May

31

NAR/DOJ settlement: Much ado about nothing ?

Filed Under Economy, Marketing, Real Estate, Technology | Leave a Comment

Seems that the Economy and the Political scene in this hot election year has caused the DOJ to re-think their approach on the battle with the National Association of Realtors. The case was settled this week or rather it appears that the DOJ gave up, because they did not want to seem unsympathetic to the plight of the industry as a whole, given the political climate et all in the U.S. right now.

The reason I and others say gave up is because, we do not think that the DOJ went far enough into really scrutinizing the MLS control issues.

One thing they did do was help free up the hold on VOWs, and that in it self may not have been a good thing depending on how you view the situation.

So what is a VOW anyway ? A VOW is basically a Virtual Office. One description I have often heard is in reference to the difference between an IDX platform and a VOW. VOWS differ from IDX by essentially taking the IDX platform at least one step further.” VOWS are “private business platforms that are designed to facilitate actual transactions” by registering consumers and delivering them as leads to other companies and sales agents, in some cases.

Here’s one of the key-issues that was discussed by NAR and various Multiple Listing Services on how VOWs operated.

“Some MLSs have objected to VOWs putting information on sold, expired or withdrawn listings on the Internet, saying that it makes it easier to mine data that belongs to their members.”

The settlement, in effect says the Internet and innovation is going to be supported, and you have to allow competition to come into this space. Some brokers don’t like the changes and are trying to protect their business. This says you have to compete fairly.”

To put it in laymen s terms.

If a consumer visits a Realtor or Brokers web site with MLS listing data supplied in an IDX (Internet data exchange) format, most likely the consumer will be able to browse and research data without being required to verify an email address or create a log-in account. However with a VOW site, the consumer has to create a log-in, or leave identifying information to be able to access the data.

One such site is ZIP Realty, whose CEO made the comment’s above. On their site you can enter search criteria for an MLS search however, you cannot view any details of that data, including pictures on their site without registering first.

Only time will tell now how NAR and the MLS’s continue to move forward in the integration of technology

One thing is for certain though, and that is that the monopolistic polices adopted by some MLS boards will continue to garner scrutiny by other state and federal agencies. In that venue the Justice Department is currently engaged in a lawsuit over policies adopted by an MLS in South Carolina, as an example, and the Federal Trade Commission is engaged in a lawsuit with a Michigan MLS.

If you interested in more details on the major talking points, I will defer to the excellent post by non other than Mr. Greg Swain of the Bloodhound Blog.

Look here for the details of the DOJ/NAR proposed Final Judgment,

In closing, I must confess that, Greg’s blog is what I one day aspire to be when mine grows up. Maybe not on this blog, but then again you never know ?

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May

8

DOJ sets sights on more MLS boards

Filed Under Marketing, Real Estate, Technology | 2 Comments

050808watcher As the DOJ case against NAR enters into a critical path this summer, the DOJ is starting to take aim at other players in the MLS game. This is only the beginning and it is very apparent to many, that NAR’s iron fisted rule on the MLS will not come out of this unscathed.

Having interacted with over a hundred of the top MLS’s through the United States I can say from my perspective, that this is going to be welcomed with open arms for those wanting to open this up to the masses and to help create a free and unfettered access to this data. The way it has been controlled has got to change. The times and the technologies brought to bear in today’s digital world that we live in are also changing and this is another one of those changes that is coming soon to an MLS Board near you.

Barry Cunnigham over at the Blood Hound Blog wrote a great post on the latest foray into this battle The War Against The MLS Continues | The MLS Must Fall!.

It is worth reading and before you comment, you should arm yourself with the knowledge of actually reading the content of the complaints as filed by the DOJ (links are in the posts - his and mine). Also, be sure to check out the article I wrote back in February 2007 that goes into more background and details on this. MLS Data compliance and NAR vs. DOJ

Related Posts:

MLS Data compliance and NAR vs. DOJ

New Technology and Real Estate Agents

DOT HOMES submits to US Real Estate BROKERS - dont worry - be happy !!

Apr

5

New Technology and Real Estate Agents

Filed Under Economy, Helpful Information, Technology | Leave a Comment

040508

I was recently accepted as a guest Blogger and Technology advice contributor over at the Home Gain Real Estate Blog. Since my back ground is based in the technology sector and I have been actively involved in the Real Estate industry for some time, it made sense for me to contribute to the larger Real Estate society of Bloggers and those that look upon Home Gain. After all Home Gain was one of the first major players in the online scene of Real Estate and competitors like Zillow have continued to hone their best practices following the path all ready blazed by Home Gain.

With that, I was warmly introduced into the Home Gain family by the Marketing & Communications Manager Jessica Gopalakrishnan of Home Gain on Thursday April 3, 2008

My first article written exclusively for the Home Gain Blog is entitled New Technology and the Social Forest. In the article I take a look at the amount of Industry published self help articles aimed at Realtors that are not into the Social Media aspects of today’s online Real Estate.

This article has started a lively debate and several comments have all ready developed from the article. The comments are positive and supportive of my article comments. However, one comment in particular I felt should be drawn out for more dialog. So I thought I would share it here and then those that want to continue can do so, as well as having you check out the base article over at the Home Gain Blog.

So moving on:

_{Steve Obermon commented:}

_{?There really isn?t a one-size-fits-all entry point to social media marketing. There are many entry points and if one does not work for a Realtor, they should just try another until one works in their market.}

_{Those who choose not to participate in social media do so at their own risk.}

_{Eight out of ten housing consumers are on line ? are you visible to them as a Realtor? When they contact you by phone or email, are you available?

Is your brokerage set up to work in web time?

Good basic questions to start with ? and review as you go along.}

_{And,yes ? seek out the best advice you can get for free and pay for if you need it.}

_{Start as soon as you can your market is waiting!?}

My Reply to Steve:

Trial and error in the Technology arena especially in the current market is only for those that have the aptitude, foresight, time and money. If you are one of the agents I referred to that still has issues managing your email and trying to figure where to find files on your PC then you need professional, expert advice. The first place you should look would be your local community college or other technical training resources in your community to get you up to speed with the rest of the business community on basic computer skills. Trying to jump in on the social scene without the basics will make you even more confused and steer more agents way from the very thing they should be learning to embrace.

Every one talks about consumers on line, and most of those consumer are more computer and web savvy than your average Realtor.

Why ? Because most of them have grown up with games and computes from the very onset.

I have very vivid memories of when the PC revolution really hit me. Do you recall when yours was ?

It was in my first year at a community college back in the mid 80?s. I was taking English composition 101 and had to write weekly short stories for submission. I was on active duty in the Navy at the time and had access to IBM Selectric typewriters which were the best you could get at the time. Obviously, word processors were only used by those that could afford them. While Apple had started building PC?s in the late 70?s it was not until IBM started selling the Personal PC in the 80?s that Personal Computer usage really started to take off. So here I was typing, re-typing and correcting my term papers only to find out I missed a major typo that cut my final grade by a whole grade point. Yet, the top student in the class did all her work on an Apple PC. At the time, my thought was that she was cheating. Interesting enough, I was all ready involved with computers as my job in the Navy was as Technical Instructor teaching students how to maintain and repair system utilized on the then most advanced Submarine of the time, the Ohio class Trident Submarines. The systems I worked on were the Univac AN/UYK-7 and AN/UYK-43 systems which were the US Navy’s standard main frame computing system for war ships. So, I had a head start on the technology arena, and I still spend a massive quantity of my time learning and trying to stay up to date on the technological changes which seem to happen at an almost daily rate.

Yet, many of today?s realtor’s have not been involved with computers of any type for this length of time. Not that anyone should have to match my skills, thats not what I am implying here however, they should be more proficient at the normal tools of business for that profession. Statistics will bear that most children born to these same Realtors have mores computer skills than their parents.

If there was an aptitude test for a Real Estate Agent to obtain or renew their license today , based on the ability to manage email, organize files on a computer and be able to aptly use MS Office tools like Outlook, Word, Excel and Power Point, I would wager my home that over 50% of the active Real Estate agents in the US would fail and loose their license.

This is a rather huge issue and NO ONE is willing to even discuss it, except maybe me. The Brokers I think are the ones who have looked the other on may of these issues, yet again many Brokers I know and have talked with suffer from the same affliction. Yes, there is a lot of training available by the various Realtor Organizations, but much of it is still fee based, and from the ones I have investigated they cost more than the tuition to a local community college or technical school would charge.

If NAR really wanted to assist Realtors, they would open up their E-PRO classes to any realtor. Or even better yet, make it mandatory in order to for you to renew your license. But the fee structure should be waived and they should also institute basic skill sets.

In my opinion: When this happens you will see more agents embrace blogging and Social Media. Until then they should look to experts in their fields to get them up to speed.

In my neck of the woods or even yours that would be Get Found Now. Go ahead, go to Goggle right now and type in the name. What you will see is the number one listing, they are Social Network Marketing Experts SEO Blog Design Web 2.0 … etc. They can get your site where it needs to be at.

If your goal is get to eyeballs to your site, that is increase your site traffic, so you get more phone calls etc?then pick someone who has a proven track record of doing just that. Weather you have a static site and just want improve upon it by adding blogging, or maybe your blogging is not getting you anywhere and you need some one to look your site over and tell you what needs to be done, check them out.

Shameless Plug: Now when you want to talk about Video for your site, I am not talking about your garden variety You Tube video. I am talking about a Viral Social Media Video campaign that works in synergy with your blog system to get your message noticed. If that?s your cup of tea or coffee as it may be, then check us out and give us a call over at Virtual Interactive Systems.

The lazy agents way to collect a paycheck

Why we should embrace change

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Mar

10

DOT HOMES submits to US Real Estate BROKERS - dont worry - be happy !!

Filed Under Economy, Finance, Marketing, Real Estate, Technology | 2 Comments

Earlier today I received the following from DOT HOMES:

New pingback on your post #117 “MLS Data compliance and NAR vs. DOJ “

Website: BYTEPLAY ? Blog Archive ? For US listing brokers (IP: 195.62.28.205 , www.ec1m.net)

URI : http://www.byteplay.com/blog/archives/57

Excerpt:

[...] [...] some of the ensuing controversy (Lenderama, CBS5.com, InmanNews, GreaterTampaBayRealEstate), I?m going to attempt here a crude recap of my conversation with Kevin. If you?ve any [...] [...]

This is related to an earlier post I made regarding the DOJ’s lawsuit against Realtor.com and the issue over MLS (Multiple Listing Service). It appears that the presence of this new venture on the scene in the Real Estate Search community, had ruffled some feathers of a few of the Top Real Estate Brokers (BLOGGERS). Some suggested that what Dot Homes was doing may not be entirely legitimate or in compliance with MLS regulations.Seems that this answer is right on the money: After you have clicked on the link above you will also see my reply:

“I think this is an excellent review of Dot Homes capabilities as well as highlighting the short sidedness of many Brokers in the Real Estate industry today. I don?t think you can explain it any clearer than this. This is a tool that Brokers should welcome with open arms?especially given the current economic climate.
Also, keep in mind that there are well over 150 MLS associations in the U.S. alone, that all have their own version of what constitutes compliance. This entire MLS issue is so overblown and in many opinions has been the major issue that has suppressed innovation and competition in our industry. Why else is the US DOJ going after Realtor.Com with such vigor? Could it be that they represent monopolistic tendencies when it comes to the MLS ? Going forward, I think this kind of makes Kevin?s entire comment on the MLS issue kind of baseless. ”

MLS Data compliance and NAR vs. DOJ

Mar

9

The lazy agents way to collect a paycheck

Filed Under Buyers Tips, Economy, Marketing, Real Estate, Seller Tips, Technology | 1 Comment

I was working another post and in my research came across a comment from Marc Davison (1000 Watt Consulting Blog) that really fit the exact phrasing for what I was trying to convey. ?Mmm, when did not having to work hard become the path to success? Oh yeah, 1997-2005. I wish we can scroll back time. I wish I could sit around and collect paychecks by doing little or nothing.?

The comment above was in response to a post regarding implementation of Web 2.0 services by Realtors, or lack there of. Things like this blog for example. Yes there are quite a few of us that GET IT especially when it comes to Tampa Bay Real Estate. Blogging and Real Estate seems to be a bit more lofty of a goal for too few. We, are a rare minority in the scheme of National Real Estate statistics. Ok, so where am I going with this ?

Well, besides the whole Real Estate Technology thing, I think one of the larger problems with our industry is the lack of oversight by the Brokers, much the same has transpired with the mortgage industry. No way your saying?.say it isn?t true ?

Let me share these two small stories with you to help explain my point.

1. A local Buyers Agent works with an out of town client (out of town meaning out of State or out of the Country) who wants to invest in a large home and has a set price in mind. The agent locates a suitable home and helps to buy the home at the full asking price of the seller. Where this gets interesting is that the agent never attempted to negotiate for a lower price for the buyer. This agent in doing this deal just added to the entire housing industry mess we are in. How ? because this agent was truly un-ethical, greedy and lazy to boot. In the current market, not even attempting to negotiate for your client to gain a better price is shameless, regardless of how much money the person has.

2. A seller negotiates with a client to list their vacation home at a reduced rate of 2% if the deal is split between buyer and seller agents. So this agent takes a picture from the client and lists the home on the MLS and waits for the buyers to call. What?s wrong here ? The Agent took the clients picture (which by the way was a very bad shot of the home). The agent did not take any pictures of their own or even suggest to the client that they would need additional pictures to help advertise the listing. There also, was no mention or suggestion of Virtual Tour or brochures (oh, I think the client did the brochures?) and no web marketing. Meaning the listing was not advertised anywhere except the MLS, the Brokers site and Realtor.com (with-1 photo). So now the home has little to no chance of getting a buyer in the current market.

Our industry has gotten a huge black eye lately and agents like these don?t help make it any better. A lot of the agents are the ones that are complaining that Web 2.0 technologies are too hard or complicated. They are the same lazy ones that act as I mentioned above. Those of us that really go the extra mile for our clients continue to get maligned in the media because of our industries lack of oversight in cases like this. And who is to blame ? Mostly the same lazy brokers that are allowing this to happen. Either they are too lazy to educate their teams or they have no clue? It?s time that our industry started to gain a better hand at managing the ethical ways in which we conduct business.

Our clients are getting smarter and more savvy at technology. I think it?s time for an over haul of our Realtors ethics pledge, or rather the methodology to ensure that the agents and or brokers that allow this are sent packing.

If your a home owner that has had a bad experience like this or even an agent, speak up.