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Knowledge is power, and power is money, which is why MLS is such a closely guarded secret. Realtors know that MLS is the one and only thing that keeps people from buying and selling houses without them.
Keeping information out of the hands of the public is simply a way of forcing buyers and sellers to rely on agents - it's a way of serving agents' interests, at the expense of buyers and sellers.
And... from whom exactly did they get this information in the first place?
Maybe I am being myopic here, however, I don't see it that way at all. I have seen that various brokers I've worked with at one time or another (around the country) -- if they are in an area where the MLS is not open to the, they supply access to via their own website.
Like I said, if agents feel that they are going to "get cut out of the deal" or something of the like, then there is something much bigger going on here. If the listing agreement is not good enough or the contract is not strong enough, not giving a buyer access to info on a property, via the MLS, is not going to stop the problem.
Mike, is this about fees? Are we really talking about the public getting something they are not paying for? The MLS might be considered something that generates revenues within the industry.
I respectfully disagree with other websites for the public that doesn't want to work with a realtor. How does that play out when that person sees something they want and it's listed with a broker? No choice there.
The seller chooses whether they want to list with a realtor or FSBO. If they choose FSBO they have many choices,though those choices may not be as good as working with a realtor.
If the person lists with a realtor then the buyer needs to go through the agent, that is the sellers choice and I see no reason why the buyer should have any other choice. They are not paying the realtor, the seller is. If they see something they want they call the realtor.
I recently came across a post from a realtor on another website who was very upset about some posts that she had read that was very derogatory towards realtors. She believed herself to be very professional, ethical, and caring about her client's best interests. I am directing this post mostly to realtors and I would appreciate any responses you might have. If non-realtors wish to reply please do.
Below was my response to Sherry and I would be interested in feedback and specifics regarding agreement or disagreement:
Sherry,
I agree with you that there are many good to excellent realtors who take their profession seriously, are ethical, and work very hard to satisfy their clients and to always keep their client's best interests as their top priority. However, the reality is that there are many agents who have no business being in the real estate business and bring down the reputation of realtors as a whole. According to data presented by NAR, realtors rank very low on the reputation scale(bottom 20%) and barely above used car salesmen reputations. This is one of the reasons for NAR's national ad campaign focusing on realtors and their Code of Ethics. Additionally, according to the NAR, there is approximately an 80% turnover in real estate agents every two years. To many people get into the business for the wrong reasons. They think they can make a quick buck and only need to take a sixty to ninety hour course in most states to get licensed. They don't realize that being a realtor is hard work and that it is a very complex field. Many people get into real estate on a part time basis while they hold down another job and in most instances, real estate is not their priority. Many don't take their profession seriously and do the minimum as far as education. You state that the "vast majority of realtors do care about our clients and will go out of our way to make our clients happy". I would ask as to where did you get the data for this statement because it doesn't seem to be born out by information I have received in ABR classes and GRI classes.
I am in no way questionning you as a professional and caring realtor. I too feel angry when I read posts on websites that blast realtors. But I have learned that my anger was originally directed at the poster and not where it should have been directed. When I now read an angry post from someone my anger is now directed at the real estate agent who was not professional and competent that worked with them, because that is where their anger comes from in most instances. To not pay any attention to negative comments on these posts is almost like burying our head in the sand in hopes that they will go away. I prefer to go to those websites and read what is being said and respond in a professional manner in hopes of swaying some of the negative opinion out there.
I hope my comments are taken in the manner in which they were intended. There are many good and professional realtors out there. There are also many that are not. I believe real estate is a good and honourable profession. I understand that the public perception of realtors is very low. I also believe that the good and professional realtors must take an active role in helping weed out the unprofessional ones. This active role can be in many forms. I think we should push for stricter requirements before a person can become licensed. I believe that our continuing education requirements should be stricter and more focused. I believe that we should report incompetent, negligent, and unprofessional real estate agents to the state board responsible for taking corrective action. In my opinion, until the good and professional realtors take a more active role in this not much will change, except for the worse. And I say worse because the Department of Justice is now involved with making changes to the real estate industry. I believe one of the main reasons for their involvement is because of the unprofessional realtors/agents.
Knowledge is power, and power is money, which is why MLS is such a closely guarded secret. Realtors know that MLS is the one and only thing that keeps people from buying and selling houses without them.
Keeping information out of the hands of the public is simply a way of forcing buyers and sellers to rely on agents - it's a way of serving agents' interests, at the expense of buyers and sellers.
And... from whom exactly did they get this information in the first place?
As I and others have mentioned numerous times, there are many websites available to those that choose not to work with a realtor. It is not our fault that those sites are severely lacking in quality compared to the MLS.
If you don't want to deal with an agent you don't have to.
As far as the kickbacks, you will find similar dealings in just about any industry. In real estate it is more prevelent between the lenders and the appraisers and does not involve the realtors much at all but I guess when you are trying to bash realtors any article that mentions real estate will do.
I recently came across a post from a realtor on another website who was very upset about some posts that she had read that was very derogatory towards realtors. She believed herself to be very professional, ethical, and caring about her client's best interests. I am directing this post mostly to realtors and I would appreciate any responses you might have. If non-realtors wish to reply please do.
Below was my response to Sherry and I would be interested in feedback and specifics regarding agreement or disagreement:
Sherry,
I agree with you that there are many good to excellent realtors who take their profession seriously, are ethical, and work very hard to satisfy their clients and to always keep their client's best interests as their top priority. However, the reality is that there are many agents who have no business being in the real estate business and bring down the reputation of realtors as a whole. According to data presented by NAR, realtors rank very low on the reputation scale(bottom 20%) and barely above used car salesmen reputations. This is one of the reasons for NAR's national ad campaign focusing on realtors and their Code of Ethics. Additionally, according to the NAR, there is approximately an 80% turnover in real estate agents every two years. To many people get into the business for the wrong reasons. They think they can make a quick buck and only need to take a sixty to ninety hour course in most states to get licensed. They don't realize that being a realtor is hard work and that it is a very complex field. Many people get into real estate on a part time basis while they hold down another job and in most instances, real estate is not their priority. Many don't take their profession seriously and do the minimum as far as education. You state that the "vast majority of realtors do care about our clients and will go out of our way to make our clients happy". I would ask as to where did you get the data for this statement because it doesn't seem to be born out by information I have received in ABR classes and GRI classes.
I am in no way questionning you as a professional and caring realtor. I too feel angry when I read posts on websites that blast realtors. But I have learned that my anger was originally directed at the poster and not where it should have been directed. When I now read an angry post from someone my anger is now directed at the real estate agent who was not professional and competent that worked with them, because that is where their anger comes from in most instances. To not pay any attention to negative comments on these posts is almost like burying our head in the sand in hopes that they will go away. I prefer to go to those websites and read what is being said and respond in a professional manner in hopes of swaying some of the negative opinion out there.
I hope my comments are taken in the manner in which they were intended. There are many good and professional realtors out there. There are also many that are not. I believe real estate is a good and honourable profession. I understand that the public perception of realtors is very low. I also believe that the good and professional realtors must take an active role in helping weed out the unprofessional ones. This active role can be in many forms. I think we should push for stricter requirements before a person can become licensed. I believe that our continuing education requirements should be stricter and more focused. I believe that we should report incompetent, negligent, and unprofessional real estate agents to the state board responsible for taking corrective action. In my opinion, until the good and professional realtors take a more active role in this not much will change, except for the worse. And I say worse because the Department of Justice is now involved with making changes to the real estate industry. I believe one of the main reasons for their involvement is because of the unprofessional realtors/agents.
The seller chooses whether they want to list with a realtor or FSBO. If they choose FSBO they have many choices,though those choices may not be as good as working with a realtor.
If the person lists with a realtor then the buyer needs to go through the agent, that is the sellers choice and I see no reason why the buyer should have any other choice. They are not paying the realtor, the seller is. If they see something they want they call the realtor.
Agreed 1000%. So, why not make the MLS open and available to the general public? If this were the case, as you said, the "shopper" -- being the buyer -- would have no choice. Right?
Agreed 1000%. So, why not make the MLS open and available to the general public?
One reason is safety - safety of the seller - there often is sensitive information in the MLS planos (when they are home, when they sleep - kids at home - stuff like that)
Agreed 1000%. So, why not make the MLS open and available to the general public? If this were the case, as you said, the "shopper" -- being the buyer -- would have no choice. Right?
The buyer can call a realtor. It costs them nothing so it is free to them.
The MLS was developed by realtors for realtors, they paid for it, they own it. Why should we now just open it up to someone that had absolutely no financial or intellectual input into it's inception?
The buyer can call a realtor. It costs them nothing so it is free to them.
The MLS was developed by realtors for realtors, they paid for it, they own it. Why should we now just open it up to someone that had absolutely no financial or intellectual input into it's inception?
In all due respect, if that's your reasoning, it seem very narrow minded and myopic. What does financial or intellectual input vis a vis inception have to do with people having access to information? Is it possible that agents want to keep this information out of the public's hands so that the public HAS TO CALL an agent? Well, they would have to call at least one agent anyway -- the listing agent.
In the versions I've seen, the broker's info page is different from the public's info page (the former having information on commissions and other information as well).
I search MLS's all the time, and call brokers. Sometimes I call the listing agent. Sometimes I call the agent I am working with in that area -- if there is one I am working with. If most people don't do that -- does that speak to whether or not the MLS should be public or does it speak to the relationship an agent might have with a potential buyer.
I understand everyone's point on this. I really do. I just don't agree that it has to do with "owning" or who the MLS was developed for. There are plenty of MLS's that are in fact open to the public. There must be some justification there, as there is probably justification for the other side as well -- and I see that.
Anyway, like I said -- good thread and thanks everyone.
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