Act I — Why Realtors hate discount listings…<\/b><\/p>\n
People think ordinary on-the-ground Realtors hate discount listings because of the discount. That’s may be true of many real estate brokers, but real-life Realtors have two much better reasons to hate discount listings. First, the Buyer’s Agent will have to do all the work for both the buyer and the seller. And, second, in so doing, the Buyer’s Agent might well inherit the liability of being an Undisclosed Dual Agent. The Buyer’s Agent has the choice of either answering every question from the seller by saying, “I do not represent you” — thus causing the transaction to grind to a halt (which is a violation of the Buyer’s Agent’s fiduciary duty to the buyer) — or by saying, “Even though<\/i> I don’t represent you, here’s what you do.” If the seller later decides he was ill-advised, it won’t be the discount Listing Agent who gets sued.<\/p>\n
Act II — The hidden secrets in MLS listings…<\/b><\/p>\n
Given that IDX systems (like ours<\/a>) are ubiquitous, precisely what is it that the NAR and all the brokers are fighting so hard to keep secret in MLS listings. I’m sure things differ among MLS systems, but the two big secrets the NAR wants to keep from non-MLS-members are these: 1. The number of Days on Market. That’s the Listing Agent’s secret. And 2. The contact information of the Listing Agent. That’s the Buyer’s Agent’s secret. In the latter case, you might think what is implied is that Buyer’s Agents in general believe that they stink so bad that their clients would betray them in a heartbeat if only they knew how. That’s only half the issue, though. The other half is the fear that, if the buyer knows how to approach the Listing Agent directly, the Listing Agent will make a sweetheart deal with the buyer in order to double-dip on the commission while disintermediating the Buyer’s Agent. This is why MLS systems have rules regarding Variable Commissions, since, in that circumstance, the Listing Agent is disclosing to Buyer’s Agents (but not to their clients; this is another secret datum) Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Act I — Why Realtors hate discount listings… People think ordinary on-the-ground Realtors hate discount listings because of the discount. That’s may be true of many real estate brokers, but real-life Realtors have two much better reasons to hate discount listings. First, the Buyer’s Agent will have to do all the work for both the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,7,6,5,27],"tags":[],"class_list":{"0":"post-236","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-disintermediation","7":"category-enduring-interest","8":"category-marketing","9":"category-real-estate","10":"category-redfincom","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1251,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1251\/redfincoms-real-estate-consumers-bill-of-rights-a-wolf-in-sheepskin-clothing\/","url_meta":{"origin":236,"position":0},"title":"Redfin.com’s Real Estate Consumer’s Bill of Rights: A wolf in sheepskin clothing . . .","author":"Greg Swann","date":"April 2, 2007","format":false,"excerpt":"I am a hardliner on the subject of reform in the real estate industry. Over the last nine months, I have written at great length about, among other things, the skill-set required to survive in the future of full-service real estate, empowering buyers, dual agency, how the NAR makes war\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9250,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9250\/with-mls-listings-available-everywhere-on-the-internet-why-do-you-need-a-buyers-agent\/","url_meta":{"origin":236,"position":1},"title":"With MLS listings available everywhere on the internet, why do you need a buyer’s agent?","author":"Greg Swann","date":"July 18, 2009","format":false,"excerpt":"This from my Arizona Republic real estate column (permanent link): Here's an intriguing question: Given that it's so easy to search for homes on the internet, why do you need a buyer's agent? Face it, if you use the MLS search tool on my web site, you're seeing exactly the\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1894,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1894\/why-do-traditional-realtors-despise-discounters-like-redfincom\/","url_meta":{"origin":236,"position":2},"title":"Why do traditional Realtors despise discounters like Redfin.com?","author":"Greg Swann","date":"September 5, 2007","format":false,"excerpt":"This is me, guest-posting at Blown Mortgage while Morgan Brown is on vacation:So why is a limited-service listing unlikely to succeed? If you\u2019re in a high-demand market like Seattle, it just might. But in most of America, right now, a home must be marketed perfectly from the first day or\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":296,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/296\/securing-the-home-buyers-place-at-the-table-how-two-simple-reforms-can-finally-result-in-a-full-uncompromised-form-of-buyer-representation\/","url_meta":{"origin":236,"position":3},"title":"Securing the home-buyer’s place at the table: How two simple reforms can finally result in a full, uncompromised form of buyer representation . . .","author":"Greg Swann","date":"September 6, 2006","format":false,"excerpt":"Executive summary: This is long, and it's written (I hope!) for ordinary people, not real estate professionals. But I want for real estate professionals to be aware of this argument, because I think it solves several of the knottier problems affecting our industry. Here's a quick summary of the essay:Buyers\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":144,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/144\/the-buyer-can-and-should-negotiate-the-buyers-agents-compensation\/","url_meta":{"origin":236,"position":4},"title":"The buyer can — and should — negotiate the buyer’s agent’s compensation . . .","author":"Greg Swann","date":"July 28, 2006","format":false,"excerpt":"My phone hasn't rung yet, but my ears are already burning. My column in today's Arizona Republic: Buyer should negotiate compensation for agent. (A more-permanent link.) This is Ardell's turf, of course, although my take on The Big Picture is somewhat different. In any case, I expect to have my\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2202,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2202\/a-consumers-guide-to-the-divorced-real-estate-commission-cataloging-benefits-starting-with-a-complete-catalog-of-available-homes\/","url_meta":{"origin":236,"position":5},"title":"A consumer’s guide to the divorced real estate commission: Cataloging benefits — starting with a complete catalog of available homes","author":"Greg Swann","date":"November 10, 2007","format":false,"excerpt":"Part IV: Divorcing the real estate commissions will result in benefits not just for buyers but also for their agents and for the real estate market as a whole The National Association of Realtors is embroiled right now in a protracted anti-trust suit brought by the United States Department of\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=236"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/236\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}