We might still be having some newcomers joining us as a result of the Realtor Magazine article, which was posted on the NAR website last week. The actual magazine just arrived at my house yesterday by mail.
Let’s discuss the publishing of each agent’s sales statistics, and the insane paranoia surrounding it.
Redfin had their agent-scouting tool for about a week, but couldn’t shut it down fast enough once the whiners got a hold of it.
Now www.neighborcity.com is trying to make a living by generating leads that they can sell to local agents for a 30% share of the eventual commission. They have the typical home-search website, but they also include each agent’s sales over the last 12 months. Theirs is a statistical analysis, not opinions like you see on Yelp, so it looks straight-forward and objective.
But, of course, they are now being sued for copyright infringement by a local MLS company, with N.A.R.’s financial support. NeighborCity is fighting back:
Realtors as a group, led by the N.A.R., will always come out looking like big-monied bullies who are just scared to give up the old monopoly. By now the monopoly is an illusion anyway, let’s admit it and move into this century!
The N.A.R. should publish each agent’s sales statistics, and a feedback forum.
Such a package would help verify accuracy, give a reason for more people to use realtor.com, and hopefully generate some respect from consumers for providing transparency to the process.
Most importantly, it would help achieve two things:
1. Allow consumers to better judge who they are hiring.
2. Cause agents to focus on delivering top-quality, ethical service.
Instead of the glamour shots, fancy cars, and plastic surgery, the publishing of sales statistics and feedback from previous clients would force agents to deal with the truth.