Real estate is the most unbusinesslike business in the history of business. I don’t want to defend that statement comprehensively, because it’s late and I’m tired, but I can offer some data points. When we sat down with Greg Tracy, I argued to him that licensing inhibits the kind of competition for reputation that we […]
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After years of song and dance, the DOJ reached a settlement with the NAR that seems to have achieved absolutely nothing — except the waste of a bunch of tax and dues money. At least that’s what you would think if you read nothing but the NAR’s spin. In fact, the NAR lost the major […]
Business Week’s Hot Property wrote yesterday about the NAR’s having gotten into bed with Hillary Clinton — who is “sponsoring a bill that bars commercial banks from hiring real estate brokers/agents” — but that’s just the tip of the iceberg. The National Association of Realtor is routinely, habitually, congenitally anti-free market. I’m doing the prep […]
I love it! Inman Blog cites an amazing open letter from the Minnesota Association of Realtors to its membership. The gist: Real estate brokers are retards but it’s not their fault! Wait, that’s not right. What it says is, if you’re not making money as a Realtor, you should probably quit now, because your broker […]
Mark Nadel’s white paper on real estate commissions is very thoroughgoing, rich in detail and a rational understanding of human motivation — without slipping over to the hyperbole that afflicts much criticism of the residential real estate industry. But Nadel is an outsider, so, while his diagnosis of what ails our business is spot on, […]