By Sam DeBord
The National Association of REALTORS® recently voted to approve updates to its operating agreement with realtor.com® and allow more flexibility for the Web site. There has been a wide range of reactions from REALTORS®. This blog is part one of my five-part series in which I will discuss the propriety of the agreement.
Let’s start with some background: NAR does not own the Web site. It merely owns the domain name, realtor.com®, which it has licensed to Move, Inc. to operate. Many discussions center on this issue still today. This agreement started in the mid-90s. Whether or not some members liked it, it is a 20-year old moot issue. NAR only owns about 2.5 percent of Move, Inc. They are merely a marketing partner with whom REALTORS® have regulatory clout because of our ownership of the domain name.
The new agreement between NAR and realtor.com® approves four major changes:
- 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 properties where a notice of default has been recorded, auctions of distressed properties, short sales, foreclosures, and bank-owned properties. (Listing brokers will have the option to opt out by calling the realtor.com® customer care center.)
Individual consumer FSBOs remain precluded from the site, and the changes will be implemented in a way that preserves realtor.com®’s accuracy advantage, according to Move executives.
NAR directors are members—not some faraway body of executives. Continue reading »
By Brandon Rodriguez
When I first became an agent just shy over 7 years ago, I was a novice and this dichotomy was not apparent to me. I was under the impression brokers were in charge. They gave you a desk space or office, nice decorated conference rooms, brochures, and you could even do desk duty for them. Not to mention nice team meetings. I am positive back in the 80s and 90s this was the case.
REALTORS(R), with their demand of technology and different commission structures, have changed everything in real estate. My dream of being a broker making lots of money put a glimmer in my eyes and a huge Kool-Aid smile! I could not have been so wrong. Brokers are competing for agents to join their firm. Buyers and seller rarely want to go to an agent’s office to sign papers because we live in “real time,” meaning, they do not want to waste their time and gas to go sign papers. They’d rather you fax (becoming obsolete in itself), e-mail (also becoming a nascence when you have to scan) and the most preferred way is something like DocuSign (not endorsing any company here, but I use them). “Click, click, send.”
The real estate sales people, who are more tech-savvy, rarely need to go the broker’s office anymore. At times I have heard, “I don’t know why my broker wants me at the office. I have everything I need at home.” Walk-in traffic is becoming unheard of since buyers and sellers do most of their hunting online. This is where tech savvy practitioners know how to capture the majority of their clients. Continue reading »