Pearland Real Estate Expert

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An Open Letter to all Realtors

An Open Letter to all Realtors®

 

Since the Board of Directors meeting on July 24, 2013, there has been a lot of MISinformation and just plain inaccurate claims and statements made about both NAR and Realtor.com. And I feel a need to help set the record straight.  

I, as a board member have been trying to get NAR and Realtor.com to play in the same sand box for years. Mind you that BOTH are to blame for the stalemate the we are just coming out of after the board of directors meeting in Chicago. The result of the meeting was what was needed in my opinion because  I just felt NAR could not manage what needed to be done. I can’t remember much of  anything other than governmental and political affairs that NAR has been successful at doing. I for one want to help Realtor.com become more successful with regards to our brand and to be the site the consumer wants to go to for all of its real estate needs. And the site that Realtors want!

So, let’s look at the facts: (FROM NAR)

What was the vote about?

The board recommended the removal of some restrictions from the agreement that governs the operation of realtor.com. Specifically, board members recommended adding content to www.realtor.com and its mobile apps in order to enrich the consumer experience and make realtor.com more competitive in the online listing space. The changes will enable realtor.com to:

  • Display unlisted new homes and new-home communities.

  • Display unlisted rentals.

  • Obtain listings from entities that are not REALTOR-owned and controlled, as well as from brokers who are not REALTORS.

  • Identify and flag properties where a notice of default has been recorded, auctions of distressed properties, short sales, foreclosures, and bank-owned properties. (Brokers will have the right to opt out by calling realtor.com customer care.)

Why did the changes require a board vote?

The realtor.com® domain is owned by NAR, but the website is operated by technology company Move, Inc., based in San Jose, Calif. In 1996, NAR partnered with Move for the core purpose of aggregating real property ads on the internet. The operating agreement that governs that partnership is between subsidiaries of NAR (REALTORS Information Network, or RIN) and Move (RealSelect), but because of the nature of the changes, the RIN board sought a recommendation from the NAR board before moving forward with the changes.

 

So, with all of that being said, let’s look at why this is a win/win for both Realtors and Realtor.com

In today’s digital world, consumers get what consumers want. If a real estate listing site is not meeting consumer needs, other providers will step in to fill the void. We are seeing that happen now in the listing aggregation space. In the past several years, aggressive entrants into the listing aggregation market have developed business models that display listings, as well as unlisted properties, from a wider variety of sources and combine those listings and unlisted properties with tools that consumers want, such as valuations. These sites have drawn a wide circle of consumers — not just current buyers and sellers but everyone, from curious renters to homeowners seeking to track property values in their neighborhood.  In order to build their own traffic and brand, these new sites must connect consumers to their brand - and pull consumers away from the REALTOR brand.  The recent changes made by NAR will enable realtor.com to continue to effectively connect with consumers and help REALTORS better serve consumers — by reinforcing the REALTOR brand and keeping it directly in front of a significant online consumer audience.

And you ask how will this reinforce the Realtor Brand???
Realtor.com provides over 400 million brand impressions to consumers per month.  In addition, the site will show the value of using a REALTOR when buying, selling or investing in real estate; it will give consumers tools to differentiate between REALTORS and real estate agents who are not REALTORS; and it will visually identify listings that are represented by REALTORS by marking them with the REALTOR logo. The site will also help consumers understand the work and advocacy being done by NAR and members to protect homeowners’ rights.  These changes make it more important than ever for REALTORS to claim their individual Find-a-REALTOR profile pages on realtor.com to ensure that their listings are clearly marked as REALTOR listings. THIS IS A MUST DO! Have you done it yet?

Realtors will benefit from a stronger Realtor .com
I feel when realtor.com has the resources and flexibility to give consumers what they want—an accurate, credible, and comprehensive source of market data—that helps create a strong tie between consumers and REALTORS as the source of that data. The other huge benefit: A competitive realtor.com attracts more consumers to the site and therefore more traffic to REALTORS’ listings and helps consumers understand the value of working with a REALTOR and the work that NAR does on their behalf to protect homeownership.

And due to the new strategic agreement with NAR, Realtors get a broad array of free benefits through Realtor.com, including:

  • All of your listings displayed on www.realtor.com with the REALTOR® Block-R

  • Find-a-REALTOR® profile

  • Recommendation tools to capture, monitor, and post recommendations

  • Branded mobile tools - VERY COOL TOOL

  • Seminar and webinar training

  • Exceptional customer support

  • Facebook business pages

  • Mobile listings Web sites with QR code references

  • International exposure through realtor.com/International

  • Listings on approved co-branded sites, such as MSN

 

Besides displaying the freshest most accurate data, realtor.com also actively protects your data from scraping. More information on all of realtor.com’s free benefits for members is available at http://realtor.com/engage.

And as I stated in my Facebook posting, this meeting will go down in history as the day NAR and Realtor.com came together and did the right thing... I think accolades need to go out to a few key players, Dale Stinton, CEO of NAR, President Gary Thomas, and the entire NAR executive BOD. I am proud of what you have accomplished in the last few weeks. I also think that a shout out to the staff at Move is in order as well. Both parties did what needed to be done and came up with a win/win for both groups. WELL DONE!

Now is the time to cut the chains and let Realtor.com soar. I am calling on all Realtor members to just give this a chance to work. Join me in helping get our brand back and to the number one spot of both consumers and Realtor members. We as a group, must move forward and not look back. We can and will succeed and I need your help to make it happen! Please join me to get our brand back and set the record straight.

 

Danny Frank

Chairman of the Houston Association of Realtors

Agent - Prudential Anderson Properties

 

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Whether you're interested in buying your first home, your next home, or just want to know more about home-ownership in general, I encourage you to check out a couple of great online resources:http://www.texasrealestate.com/ or http://www.har.com/. And for all of your Pearland, TX and Northern Brazoria and Galveston County real estate needs, please visit my site at:http://www.danfrankrealty.com. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.

Remember, Danny Frank is always looking to hire new and experienced real estate agents for the team at Prudential Anderson Properties.  Are you ready to move to the next level in your career?  Call me to join today.  You can see my entire blog at: http://www.pearlandrealtyblog.com

Call Danny Frank, at 713-581-4702 to start looking for the JUST right house or to sell your house at the best price ever and in the quickest amount of time.

 
Chat: Google Talk: DanFrankTX Skype: DanFrankTX

  

 

Comment balloon 70 commentsDanny Frank • August 08 2013 08:27PM

Comments

Hi Frank,

Your post is very interesting and makes a lot of things clear but I am still not sure about things like FBSO's and agents who do not pay their dues. We all must pay our dues whether we like it or not and most are about $1000-$1200 per year. I will reread it tomorrow when I am less tired. Thanks.

Posted by Kristin Hamilton CA Realtor, (909) 557-6966, GREEN, SFR, CHS-Redlands/Loma Lind (Keller Williams Realty) almost 4 years ago

Hi Karen, Realtor.com will not have FISO's on its site. 

Posted by Danny Frank, The Real Estate Expert (Heritage Texas Properties) almost 4 years ago

***VERY GOOD INFORMATIVE BLOG.***  You have explained many facts beautifully. I think many of us will find your blog very helpful.   Smiles,  Myrna  :) :) :)   :(o_o):

Posted by Myrna Ziller, National Association Of Realtors ( N.A.R.) (Guarantee Flex Office Fig Garden Village) almost 4 years ago

Hi Danny,  I thought your blog said Realtor.com would have "Unlisted" homes on it.  I dont agree with that.  Is that not what you are saying?  FSBO's?  Or do you define unlisted as not being a FSBO?

Posted by Ricki Eichler McCallum, Broker,GRI,ABR, - Your Coastal Bend Home Source (CastNet Realty) almost 4 years ago

It will NOT have SFR Fisbo's. It will have listings from builders and apartment complexes.

 

Posted by Danny Frank, The Real Estate Expert (Heritage Texas Properties) almost 4 years ago

NAR and Realtor.com had better get their thoughts together since we are being run over with our on information, ex. Zillow. It is a shame it has gotten this far and I might add an embarrasement.

Posted by Jimmy Faulkner, The Best Of St. Augustine (Florida. Homes Realty & Mortgage) almost 4 years ago

Great blog and you explained it perfectly!  We want things to work for our good and I believe this will.  Thanks again for explaining it and making it more clear.

Posted by Graziella Bruner, Broker/Owner - Serving Wayne & Oakland County (BRUNER REALTY LLC) almost 4 years ago

I totally disagee...

This is a benefit to Move.com and nobody else. It was a sell-out, plain and simple.

I asked Tim Klein this question:

What benefit(s) do I lose if I withdraw my membership from NAR?

The answer is none.

Posted by Richard Weisser, Richard Weisser Retired Real Estate Professional (Richard Weisser Realty) almost 4 years ago

Thanks for the info and I look forward to how this plays out in the coming months, especially the adoption by Realtors and its use by the public.

Posted by Andrew Ostrander, Ostrander Real Estate Group (Ostrander Real Estate Group) almost 4 years ago

Great blog! Made my day...

Posted by Oscar Vasquez (Fillmore Home Value Check ) almost 4 years ago

It sounds good, but I think we have to wait and see how it plays out and if it's truly a benefit.

Posted by Ava Anderson, Selling Atlanta from A-Z! (A-Z Atlanta Realty ) almost 4 years ago

Praying that it is not a wolf in sheep's clothing.  But, I will let it play out before I decide.

 

Posted by Marnie Matarese, Showing you the best of Sarasota! (J Wood Realty) almost 4 years ago

I don't feel like I get a darned thing from Realtor.com or NAR for that matter.  Thank you for the info though..

Posted by Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN! (HK Lane, Christie's International Affiliate, 760-285-3578) almost 4 years ago

As others have said, time will tell.  But I am definitely in support of something that would promote the Realtor brand and working with a realtor.

Posted by Margaret Goss, Chicago's North Shore & Winnetka Real Estate (Baird & Warner Real Estate) almost 4 years ago

All I can do is speak from experience. When the internet was scaring most in our business, the Houston Association of Realtors embraced it and created har.com, one of the most user friendly sites out there.  This has been such an asset to our profession here in Houston.  It's maintained professionally, updated almost automatically and frankly, has spoiled the crap out of us.  Nothing in the past 10 years has made my job easier.  I have a personal website, I have a website through har.com, but when my folks start their search, the har site is the first they turn to.  I hope this move with Realtor.com will be as successful as har.com.  Danny is right, if you don't give today's consumers instant information, they go somewhere else. 

Posted by Jeanne Gregory, The most important home I sell is YOURS! (RE/MAX Southwest) almost 4 years ago

Thanks for the information, I'm sure there's a benefit for somebody, like Margaret, I would like to see something that would encourage consumer to work with a Realtor, this certainly is not.

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) almost 4 years ago

Okay - I updated my profile. It was like picking thorns out of a sheep's woolly coat.

Why do I have to log in to change my profile when I'm already logged in?  Why are there two separate and seemingly unrelated profile editing pages?

This kind of confusing and double-tasking is what drives people away.  I will never prioritize a tool that makes me do everything twice or hides all the editing tools under layers and layers of drop-downs and tiny ambiguious links.

LARGE and CLEAR should be the order of the day.  Can people use Realtor.com easily on tablet?  I think not!~!

Stop chasing Zillow and Trulia and get AHEAD of the game.  If you can't do a search in 30 seconds, millenials will never touch it.  How about adding a voice-search option like in GOOGLE maps?  

Are you thinking mobile at all?

Posted by Richard Arnold, Realtor - Tempe, Chandler, Mesa, Gilbert, Phoenix (Keller Williams Realty East Valley) almost 4 years ago

Thanks for the info on this. The more info agents possess to share with the consumers, the better for all of us who are truly in the client service business.

 

Posted by Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900!) almost 4 years ago

I still see this as an income opportunity for Move.com and not the real estate agents.

Posted by Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC, ... a small office, delivering big service! (Waters Realty of Brevard, LLC) almost 4 years ago

Good day to all if you are not a REALTOR  than you should not be able to use the site. That is misleading to the general pubic, we are NOT TO MISLEAD the general public....... if the name REALTOR.COM is changing that go ahead make your chages but remove the name REALTOR from the domain name. We must hold the name REALTOR  to a much HIGHER  standard or at least that is what I am told. It is unethical to use the name REALTOR  and let non realtors use the site.....  One will see how it works the decision was already made without a CALL TO ACTION  being given to allow its members to make a decision and get a over all feel for what NAR  members thoughts are. I wish all prosperity but one much also realize that REALTOR is supposed to mean something.

What does REALTOR mean? if you allow non listed property to be on the site how is that REALTOR ? Thank you for the blog but please do explain REALTOR  what that word means. Thank you and have a blessed night.

Posted by Laura Filip RE/MAX UTOPIA | 903-271-4978, Your locally owned RE/MAX OFFICE (RE/MAX UTOPIA , Serving all of Texoma ) almost 4 years ago
Thanks to all the folks that put in the time and energy to make this happen, and thanks to you for explaining it to us,
Posted by Wayne and Jean Marie Zuhl, The Last Names You'll Ever Need in Real Estate (Hallmark Realtors) almost 4 years ago

WOW I am not a Realtor and I was impressed with this. I think ALL Realtors will benefit from this and this is an excellent post and a must read for all.

Kudos

Posted by David Shamansky, Creative, Aggressive & 560 FICO - OK, Colorado Mtg (US Mortgages - David Shamansky) almost 4 years ago

I know how hard it is for 2 groups to get on the same path over an issue that affects both significantly.  Hats off to the members of the boards.

Posted by Jay & Michelle Lieberman, Creating Calm in the Buying and Selling Chaos (Keller Williams World Class) almost 4 years ago

I believe it is right to try and regain some of the market they have lost to Z and T, but don't like any non-listed entities having access to the site. Many builders and developers have their own on site sales people and they wouldn't need an agent for a thing

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) almost 4 years ago

Trulia and Zillow have pretty much run rough shod over Realtors, scraping our listings from MLS and then selling leads and space back to us. I also don't understand why builders would be allowed to sell their inventory on realtor.com because they are not Realtors. It sounds good what you are saying, but sadly, I'm disappointed. 

Posted by Pamela Seley, Residential Real Estate Agent serving SW RivCo CA (West Coast Realty Division) almost 4 years ago

It's a little ironic how realtor.com will offer non-realtor listings  - don't you think? Wasn't that the purpose of realtor.com because it was a realtor website?  It's a slap in the face to us.  It's losing another benefit of being a realtor.  Its funny how if I don't pay my dues, I  can't work in my office nor be a member of our mls but our realtor site will host non-realtor listings!  Hmmmmm.....

I get that they are competing with other sites like Z&T but this isn't going to make consumers go to realtor.com vs. Z or T! They needed to get ahead of Z&T years ago.  You can catch up to them now.  I don't know what the answer is to get ahead of them but this isn't going to do it.

Posted by Gina Chirico, Real Estate Agent - Essex County, New Jersey (Lattimer Realty) almost 4 years ago

Hi Danny...You may be convinced but I think it will take more than this to convince others that are skeptical of both realtor.com and NAR. If it is such a good idea why was it kept under wraps instead of asking members how we felt about it before it was finalized?

Kate

Posted by Kate Elim, Realtor 540-226-1964, Selling Homes & Land a (Dockside Realty) almost 4 years ago

Danny,

Sorry, but it's going to take a lot more than a blog post to convince me that what NAR did, will actually benefit us REALTORS® in the field. Plain and simple, this was done to try and compete with Zillow and Trulia, who also don't act in Realtors behalf.

Rich

Posted by Richard Iarossi, Crofton MD Real Estate, Annapolis MD Real Estate (Coldwell Banker Residential Brokerage) almost 4 years ago

FINALLY  -- I do not understand why this has taken so long.  "And as I stated in my Facebook posting, this meeting will go down in history as the day NAR and Realtor.com came together and did the right thing... :I think it is going to be difficult for Realtor.com to catch up.. so sad it had taken so long to get this accomplished.

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) almost 4 years ago

Danny, thanks for the information.  I appreciate your explaining this in AR. The irony to me is that Realtor.com is chasing Trulia and Zillow who wouldn't even exist without our listing inventory.  Listings capture the eyeballs and we Realtors give them those.

Somehow Realtor.com needs to leapfrog T & Z, not just catch up.  The quickest and easiest way is to stop giving them our listings.   Poof...they'd be gone and the longer we don't do that, the harder it will become.   I've been a NAR member since 1976, so it's in my blood.  But many newer agents feel more kinship to Zillow and Trulia than they do NAR.

Posted by Lloyd Binen, Silicon Valley Realtor since 1976; 408-373-4411 (Certified Realty Services) almost 4 years ago

Let's see how this change helps us! Just wondering if it is really necessary for Realtor.com to go Zillow and Trulia way?

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (eXp Realty) almost 4 years ago

What a solid blog post!

Realtors comments brought it a tremendous value.

I agree though with those who suggest that realtor.com feels almost the same as trulia, redfin, zillow, many more....

Posted by Inna Ivchenko, Realtor® • Green • GRI • HAFA • PSC Los Angeles CA (Barcode Properties) almost 4 years ago
Danny, thanks for posting. I have reread it and still I remain angry and embarrassed that NAR and Realtor.com allowed this unfortunate mess - to allow us to get 'beat up' by the competition. Surely they could envision the outcome if they fell asleep at the wheel. The result - we were run over by a semi. Some of us have lost faith in NAR and are not as proud of our Realtor brand entity. We know the big guns, Z and T are out there. We are now in a position of 'catch up' and feel our organization let us down - big time. Danny, you still have hope and seem to be able to see a light at the end of the tunnel. I will place a bet on you - you see I would much rather you and your views make it that WIN/WIN.
Posted by Jane Chaulklin-Schott, TeamConnect Luxury Homes - Orlando, Florida, 32836 (TEAMCONNECT REALTY - (407) 394-9766) almost 4 years ago

Thank you for your post but unfortunatly I feel it's just another slap in the face.  I pay dues to be a Realtor® and in the past paid for enhanced listings for Realtor®.com.  Most builders in my area DO already have a relationship with a brokerage to put listings in the MLS and therefore on Realtor®.com.  Allowing 'unlisted" properties on the site will again underminds the value of the Realtor® brand.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 4 years ago

Thank you for sharing your well researched viewpoint...one we had not heard to date.

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce - Short Sale (Keller Williams 414-525-0563) almost 4 years ago

Appreciate the update... but still not sure I'm in total agreement with all of the positions.

Posted by Nina Hollander, Your Charlotte/Waxhaw/Fort Mill Area Realtor (RE/MAX Executive | Charlotte, NC) almost 4 years ago

From the looks of the previous comments, it appears people are split as to whether this is a good thing or not. This subject has been discussed ad nauseum in many of the Facebook RE groups we are in and the consensus there seems to be far worse: the majority feel this is far too little, far too late. For our part, as others above have said, we'll play the 'wait and see" game to see just what becomes of this latest move. Thanks for putting it out there.

Posted by Pat & Wayne Harriman, Broker/Owners, Wallingford CT Real Estate (Harriman Real Estate, LLC (203) 672-4499) almost 4 years ago

Thanks for the update. I am still not ready to drink the Kool-Aid.

Posted by Tom Bailey (Margaret Rudd & Associates Inc.) almost 4 years ago

Is as simple as what happens in real estate . .inside anytown USA

Realtor.com as the old and perennial broker. . 

then came the young bucks. .Trullia and Zillow. .

They showed the old dog how to do business. .in a new era. 

Pretty soon the whole town was in awe of these new comers. .

in order for the old dog to preserve their dignity and business. .they made the biggest mistake in their history. .

They sold out the supporting real estate agents listings to the new comers. .aka Judas

Most vivacious agents started to resent this. .others did not pay attention. .life went on. .

Then, when they saw that the new comers. .Trullias, Zillows were going leaps and bounds forward.. .

Realtor.com in desperation starts  accepting unlisted listings, fsbo's non-member listings. .and any other junk listings out there,  , DILUTING THE QUALITY OF ALL THEIR MEMBER's LISTINGS

 

As a paying member. .a small brokerage that have supplied hundreds of listings to the pool. .I can't afford to pay to enhance my own listings. .because the ROI is not there for me. .when others sites do it better and cheaper.  .that is not the way to keep a company secure. .YOUR MEMBERS ARE YOUR LIFELINE. .DON'T EVER FORGET THAT!. 

F

 

Posted by Fernando Herboso - Broker for Maxus Realty Group, 301-246-0001 Serving Maryland, DC and Northern VA (Maxus Realty Group - Broker 301-246-0001) almost 4 years ago

It's hard enough to explain that in Florida only one in three licensees is a Realtor and to explain the differences.  NAR sold us out by allowing anyone to post listings on the site that was once ours.  I'm dropping my paid advertising on the site when the contract expires.  NAR sold us out on this issue. 

Posted by Dee Toohey, Broker, ABR, AHWD, CIPS, FMS, ePro (Innovative Realty Solutions Group) almost 4 years ago
Thanks for the update. I disagree with the direction that NAR and Realtor.com are headed. I also disagree that it was done without our input or vote. I hope that this turns out for the best though. Well, we know that NAR and Realtor.com will prosper and grow. The rest of us will certainly have to adjust and grow too. I look forward to training and webinars on how we Realtors can make lemonade out of this new direction.
Posted by Jill Watts, Multi Million Dollar Seller in Clark County WA (Realty Pro, Inc.) almost 4 years ago

So if I am a consumer and the site shows me all the listed property some with a Realtor with some without, why should I seek the help of a Realtor? What's in it for me?

In my opinion this just waters down the value of our brand and service. They took the easy way out, wrong approach. They could have pushed the benefits, ethics, etc., instead they are clearly telling the consumer "Look here for your property and you don't even need a Realtor".

Posted by Chris Miller Nevada Land with Water Rights, Land with Water Rights For Sale (Vegas Grand Realty and Property Management) almost 4 years ago

I get that on the surface it looks like this is a win/win..but it truly isn't IMO.  Realtor.com is supposed to be for actual Realtors(r) period.  I beleive that they need to be the place where consumers can go to find ACCURATE data on listings that are supplied by ACTUAL Realtors(r)..and not become and try to compete with Z and T...

Non-Realtors should not be allowed to post their listings to include builders, FSBOs etc...it is a slap in the face.  We should not need to tag OUR listings with a Big R just so consumers know which ones are actually represented by us.  That should be a given when consumers come to the site.

 

Posted by Brenda Mullen, Your San Antonio TX Real Estate Agent!! (RE/MAX Access) almost 4 years ago

Just an observation: I received my REALTOR magazine last week and this time I did not just toss it---I needed some answers so I read it. Meanwhile I still have no answers...they are: Why does NAR go through the process of describing all the regulations we as agents MUST follow without even mentioning T and Z? Why are they exempt from these rules and regulations? Maybe if Realtor.com came clean as to why these two HUGE sites can

1.advertise listings that don't belong to them and even

2.gouge agents stupid enough to buy into their phony promises and in general

3. perform as "Brokerages without Boundaries" by valuating properties (Incorrectly I might add) and NOT have to follow the same rules and regulations that we have to follow???....Maybe with all your expertise, Danny, you can tell us all what is the deal here????

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) almost 4 years ago
Good Morning Danny, I am not surprised by the general tone of the comments. With 2 meetings a year and a broad diversity of opinions within NAR ( not all of which are based on knowledge and skill), it is little wonder that corporate brands can out pace and out distance NAR's very slow process for change. There is much to be said but I will yield to others to say it.
Posted by William Johnson, San Diego Real Estate Voice, GRI CRS e-Pro CDPE (RE/MAX Associates) almost 4 years ago

Danny-I also am concerned. I get we will have a "R Badge" but consumers will not understand that or care. All I know is I have been paying a high fee and not getting results and their hits are down. Watering down our brand may help them increase their hits but I for one expect a large decrease in their advertising fee this year...

Posted by Scott Fogleman, New Home Team (New Home Team 804-573-9592) almost 4 years ago

Danny, I have to agree. NAR is a day late and a dollar short on this issue. NAR seems to be more interested in competing with Z & T than support the members benefits. The REALTOR® brand is diminishing in value to both the membership and the general public. This may put Move, Inc. in a better competitive position, but I don't see where the membership will benefit. It's too bad.

Posted by Michael Setunsky, Your Commercial Real Estate Link to Northern VA almost 4 years ago

Danny,

Thank you for an informative post! I hope NAR and Realtor.com can come together with the actual Realtors and work this out.

Posted by BILLY CRITTENDEN, Broker/Owner,ABR,CRS,CNE,CNHS,GRI,RCC,SFR,SRS,SRES (Missoula Valley Properties, LLC) almost 4 years ago

Wow - I read the article and many of the responses. Looks like you're in a no-win situation. I realize that RDC has to do SOMETHING to get it's Market Share back, but as others have pointed out, adding more, and often inaccurate listings just doesn't seem to be the way.

Posted by Travis "the SOLD man" Parker; Associate Broker, email: Travis@theSOLDman.me / cell: 334-494-7846 (Team Linda Simmons, Enterprise, AL 36330) almost 4 years ago

Danny, I read and am still digesting what you stated in your blog. My concern is that this is a 'Me Too' action by Realtor.com and doesn't add any value to the Real Estate agents' listings on Realtor.com.

And a question: At what point does NAR take a 'step back' and evaluate the results and outcome to this 'bold' step. And if the results are lackluster, does NAR and Realtor.com have an exit strategy in place to make things as they were, and how will they recover the confidence in the many RE agents who are now alienated and jumping ship?

Posted by Sandy Padula and Norm Padula, JD, GRI NMLS#1483386, Presence, Persistence & Perseverance (Realty One Group) almost 4 years ago

I sure hope Realtor.com gets its act together.  Realtor.com has been around almost 2 decades and is now 3rd place to Zillow and Trulia.

Posted by Rob Arnold, Metro Orlando Full Service - Investor Friendly & F (Sand Dollar Realty Group, Inc.) almost 4 years ago

Good Morning:  This is some great Info for all in the business,  keep up the good work and good luck with your sales,  E

Posted by Ed & Tracy Oliva, The Oliva Team Arizona Agents (West USA Realty - Arizona) almost 4 years ago

One word. Unresponsive. Out of touch with the guy and gal wearing the blue and gold R. Survey the troops, activate one by one the areas where change is needed. Or don't. The communication is not two way, you have been fed and not allowed to hammer out a new and improved that keeps up with changes in our industry. 

Posted by Andrew Mooers, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) almost 4 years ago

Appreciate the detailed update.  A lot of good information to clarify the positions.

Posted by Edward & Celia Maddox, EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD (The Celtic Connection Realty) almost 4 years ago

Thank you for spelling everything out for us.  However I am not convinced YET that this is going to help anything but RDC's ratings on the search engines.  I don't see it being a benefit to the people who pay dues to an organization for the "REALTOR" brand.  Those who are not "REALTORS" and are therefore not required or subject to a Code of Ethics will dilute the brand.  I will reserve my final opinion until I see how this affects my own business but I'm still leaning toward feeling that we have been sold out for the sake of SEO.  

Posted by Sandra Paulow, REALTOR, Associate Broker, GRI, SFR (Aspen Properties, Inc. ) almost 4 years ago

I don't see how NAR can manage something like this, meeting twice a year.

Posted by Raymond Denton (Resolute Federal Savings Bank) almost 4 years ago

Nice detailed report, but does not convince me.... not repeating what others have said...so I'll say ditto.

Posted by Rebecca Gaujot, Lewisburg WV, the go to agent for all real estate (RE/MAX Vision Quest) almost 4 years ago

Danny, thanks for taking the time to provide us with an update of the recent directional changes in Realtor.com from the NAR board perspective.

I am sure you feel about as welcomed as Mitt Romney was at the NAACP convention last year!

Our local MLS  board is very strict about entering MLS data and we can be fined heavily for inaccurate information.  How is the CONSUMER protected from inaccurate information about the property if there is no authorized board to protect the consumer from inaccurate or fraudulent information provided by a non-listed seller?  Many consumers would call the seller directly because they think they will be saving money not paying a real estate commission.  I don't see the interests of the consumer being protected at all!!!

Posted by Bruce Walter (Keller Williams Realty Lafayette/West Lafayette, Indiana) almost 4 years ago

I'm not sure this will affect me too much as most of our new home builders use local companies to represent them and already have a sampliing of their inventory appearing in our MLS which downloads to Realtor.com. 

The apartments will be a bit more challenging, as most here do not pay a commission and I can't see any way to distinguish those from the ones who do except in the MLS. I can see a massive disconnect there when a potential tenant asks to see a place and the agent learns that he/she will not be paid by the rental firm. 

As for flagging defaults and such, I feel that will likely end up being challenged in the courts along the way, even though much of that is in the public records already.

I'm still unclear on why non-Realtor agents should be able to put their listings in for free when we pay for the privilege.

Lastly, Realtor.com lost my attention when they eliminated the feature that let you search by maps.  If you wanted waterfront, you could tell where it was at a glance.

The saga continues and the results remain to be seen...

Posted by Valerie M. Blake (Keller Williams Capital Properties) almost 4 years ago

I see a big mess ahead - similar to Zillow and Trulia. 

With no local MLS requirements, non-Realtors and FSBO sellers can place their homes for sale - but who will see to it that those listings are marked as sold once they're no longer available? 

Consumers will be calling agents - wanting to see the house at 123 Main street - when it was actually sold six months earlier. 

Just sounds like greed to me. 

Posted by Marte Cliff, your real estate writer (Marte Cliff Copywriting) almost 4 years ago

Why would a working Realtor® care about Realtor.com's advertising revenue, anyway? None of the proceeds are shared with actual Realtors. Seems to me NAR/Realtor.com has decided to ignore the people who bring in the data that feeds their whole money-making system. I for one, feel betrayed and used.

 

Posted by Nolia Boole almost 4 years ago

      Where does the money go?  If this is profitable, why are Realtors being gouged for Upgrades and Features?   Somebody's pockets are getting lined. 

Posted by Fred Griffin, Licensed Florida Real Estate Broker (Fred Griffin Real Estate) almost 4 years ago

I agree with Brenda, #44. Realtors pay fees to use the tool to list their inventory but you must be a member of NAR to belong to a MLS to do that, don't you? 

Realtors who list on the MLS should be compensated by anybody who list their inventory on a daily, weekly, monthly basis. It's the Realtors' inventory that allows other sites to profit and the source of the product gets no consideration. How ridiculous is that? 

Posted by Kimo Jarrett, Pro Lifestyle Solutions (WikiWiki Realty) almost 4 years ago

Why can't we just cut the feeds from all the boards and realtor.com to these third parties. They can't survive if we cut the feeds until they prove as they are trying to do that the public doesn't need us.

Posted by Joyce Kelley, Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl. (Charles Stallions Real Estate Services Inc) almost 4 years ago

Many of the National Search sites are filled with stale information.  They misuse the information the glean from the local MLS's and do not use a real time feed.  They fail to purge their system and populate it with other stuff - many phantom listings.  Perhaps rather than chase after the bad players that make our job harder we ought to maybe work to put some restrictions on how MLS information is shared so there is a more accurate picture of what is really on the market.

The other little dirty secret is agents taking a listing and putting on a non local MLS so it gets the syndication, but some how the local agents cannot find it.  Basically it is a pocket listing - but with an MLS exposure.  

Now I realize some may fear the Justice department if we put to many restrictions.  But I think we ought to approach the Justice department and work on this from a consumer protection angle. 

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) almost 4 years ago

Joyce, even if the all of the MLS's cut the feeds, they would still get the data from all of the franchises that feed them the data... And we all know that that data is not as fresh as it needs to be.

Posted by Danny Frank, The Real Estate Expert (Heritage Texas Properties) almost 4 years ago
I, too, am on the NAR Board and was at the meeting where this was voted on. There was a fabulous video presentation that I wish could be shared with all NAR members to help set the stage. If we continue to lose market share, we devalue the brand. The guy heading up Zillow (if I recall correctly) is the same guy who changed the travel business by eliminating travel agents effectively with online sites such as Expedia, etc. We don't want to be eliminated, do we? This is a step to prevent that.
Posted by Carol Zingone, Global Realtor in Jax Beach, FL - ABR, CRS, CIPS (Berkshire Hathaway Home Services Florida Network Realty) almost 4 years ago

There is no wishing you could show us the video.  Put it on YouTube and let us be the Judge.  Then let us know where to find it.  Here on ActiveRain and other places.

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) almost 4 years ago

First, I must thank you all for the comments pro and con.. I posted this open letter to help inform you, NAR Members, of what I felt was one of the most important meetings in NAR history.

To set the record straight, I am NOT on the payroll of NAR or Realtor.com. I am an agent selling homes every day. I am the Chairman of the Houston Association of Realtors and a Regional Vice President on the Texas Association of Realtors and I am on the Board of the National Association of Realtors. I am but just one voice.

For the past 17 years, NAR has held Realtor.com’s leash very close and not allowed them, Realtor.com, to grow and keep up with the competition. NAR only owns about 3% of Realtor.com, but controlled 100% of what it did and how it did it.

One thing I keep seeing in the post are inferences of how Realtor.com should be free because of your dues... Please understand, NOT ONE DIME of your dues go to Realtor.com. Realtor.com is a for profit company that is controlled by NAR! In the meeting on the 24th of July, the agreement was changed to allow Realtor.com to become more indepentant but still controlled by NAR.

Something else needs to be understood as well... In the open letter I gave my opinion of what happened along with the facts of what happened... This is NOT from NAR or Realtor.com. It is just my thoughts of what happened and why I feel it is a GREAT start to OUR future!

To all of the people who say we should just take back our data and be done with it... I guess we should just go back to the stone ages and the old MLS books and not let anyone have the data... RIGHT!!! A few years ago, the DOJ filed suit against many in the real estate industry including NAR... One of the issues was not giving the “Public” all of the data... WE MUST SHARE DATA.  As I said in an earlier response, even if all of the MLS's cut the feeds to all 3rd party companies, they would still have 90% plus of all the listing because most of the franchise companies still feed them... We can not put Humpty Dumpty back together the way it use to be, nor should we!

Now that Realtor.com has some freedom to compete, I feel it will start to do just that, COMPETE! Before the new agreement was signed, NAR held them back to the OLD SCHOOL rules while the other 3rd party companies flourished without concern about Realtor.com...  I feel they do have some catch up work to do and some fence mending to do as well with our membership... Realtor.com has left a bad taste in a lot of Realtor’s mouths. I feel they have a plan to clean that up and become the partner we need them to be... I am just asking you, the membership of NAR to give it a chance to win... Don’t live in the past and lets all move forward into the future together.

Posted by Danny Frank, The Real Estate Expert (Heritage Texas Properties) almost 4 years ago

Great update Danny.  We think the new Realtor.com app for iPad, etc. is one of the best out there!

Posted by Bob Miller, The Ocala Dream Team (Keller Williams Cornerstone Realty) almost 4 years ago

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