Blog : ballot initiative

The real threat to organized real estate… Ourselves

The real threat to organized real estate… Ourselves

For years now, we’ve been debating about online portals changing the real estate industry and displacing REALTORS, for fear that they will become a real estate company or franchise. But as my colleague wrote in an article last week: http://nexthome.com/2014/11/my-first-90-days-on-the-brokerage-side-thoughts-from-a-former-trulia-executive/, the online search is only about 5% of the process for buying real estate and we’ve focused way too much on this one subject.

Let’s face it… the most intricate and important part comes after a buyer has found the home they want to purchase, or a seller has decided to sell. That’s truly where a REALTORS’s value proposition shines, and always has. This listing data debate, and ownership over it, is such a minimal part of a REALTOR’s value proposition. Anyone who focuses on this is missing what REALTOR’s actually do. The only reason it’s a never ending, big debate is because these online portals cannot survive without it. They have very little value proposition beyond that 5%.

That said, it’s no secret that pretty much all buyers use the Internet to find their home, research the buying process or learn about neighborhoods, but what’s of great concern to me is the minimal voice REALTORS now have online. Unfortunately, it’s a result of the lack of participation, and daily local contributions by our own industry. Let me explain…

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