Wow! Was that Timely or What?



Talk about perfect timing! On May 26th I posted an article discussing our need to add value or die (click to read article) — the very next day the National Association of REALTORS® settled their three year old anti-trust lawsuit with the Department of Justice, ending what many believed to be the most important challenge our industry has ever faced. What does that have to do with adding value? Everything!

After cutting through all the spin, the simple explanation is this: our National Association released a brand new VOW policy allowing open access to the MLS data. This new policy opens the doors to companies that want to add value to the transaction in some other way than by simply camping on the listings and the lock box.

As the chief executive of FavoriteAgent.com, a company that’s pioneering a new virtual way of doing real estate, I am thrilled with the settlement: first that it’s finally over, and second, that the NAR finally agreed that it was time we began to add value and not continue down that path of simply protecting our monopoly on the data. I believe that this will open the door for many new model companies to begin to reshape our business.

Over the next few years, watch for the emergence of companies that do it differently. Flat fee companies, fee-for-service companies, virtual office companies, national real estate companies, and other models we can’t imagine will begin to emerge. and the industry will be better for it. It will be scary to watch because we all resist change, but in the end, it is inevitable, and it will lead us to a new and better place.

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Matt

I give away about 99% of all my technology and digital training content, completely free of charge, because I want to see other agents have the same kind of success that I've had. But one thing I charge for is my Ultimate Website technology. This is the web technology I created for myself that turned my real estate practice around overnight, and now I license it agents everywhere. But right now it's too popular and is currently waitlisted. Click here to get on the website as soon as possible and I'll notify you as soon as new invitations become available.

Comments 2

  1. author Mike Harkins posted May 29th 2010. 12:36 pm Reply

    Ambivalent.. Yes, I hope this leads to new biz opportunities, and for the over-all better of the industry and consumer (I’m OK, you’re OK); but, our track record as a ‘human culture’ of the last few decades has made me a skeptic. Like relaxing the restrictions on types of institutions allowed to sell loans, I see too many ways for the ‘non-professionals’ to take advantage of data dissemination without knowledge – another quick buck. Agreed, the value-added of a good agent is more than a lock-box key or MLS access. Will the perspective of the public regarding agents suffer when we’re lumped-in with not-so-professionals ‘selling data’? hmmm Hope I’m wrong this time…maybe selling used cars won’t be so bad, after all:)

    • author Matt Jones posted June 1st 2010. 5:01 am Reply

      Thank you for reading and for your excellent comment!

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