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Discount Real-Estate Brokers Face New Hurdle?

by Maureen McCabe on January 12, 2007

WSJ Real Estate Journal says “Discount Real-Estate Brokers Face New Hurdle for Web Listings”

“A revised policy approved by the National Association of Realtors this week may make it harder for discount brokers to draw attention to homes they list for sale.” 

It’s a non issue in the Central Ohio market.  The broker has had the ability to discern what competitors listings to display on their company website. The Columbus Board of REALTORS® included listings of all member brokerages regardless of business model.  HER RL Logo Red on WhiteThe individual brokerage determines what proprties are advertised on their website for consumers.  HER Real Living does not have to advertise listings for all competitors on their websites. HER has the best consumer search site in Central Ohio, in my opinion. 

 

Best Search Poll - Central Ohio
Results of the Best Search Poll 

According to the WSJ Online Article:
“In recent months, the Federal Trade Commission has cracked down on multiple-listing services that excluded certain kinds of listings from their computer feeds to local brokers’ sites and national sites, such as Realtor.com. Several MLS operators have agreed to end such practices. But the new Realtor policy may encourage more local brokers to leave discounters’ listings off their sites by making clear that the level of service provided is an acceptable reason for exclusion.”
The FTC’s concern would be if the Columbus Board of REALTORS® was not allowing some brokerages access to the MLS (multiple listing service.) All members have equal access to the put properties in the MLS, in Central Ohio.  The NAR rule is telling local boards to not decide for brokers but let the brokers conduct their business, determining which listings (ads for properties) to use on their site. Seems fair to me.

WSJ Online quotes:
“Harley Rouda Jr., chief executive of Real Living Inc., a 15-state brokerage chain based in Columbus, Ohio, said his company already allows its local offices to leave out listings from certain rivals on a case-by-case basis. “We spend a lot of money advertising our Web site to the public, and we have a right to put what we want on our site,” Mr. Rouda said. Rivals unhappy with that policy “can spend more money to promote their own Web sites.”

One concern is that potential buyers relying on a local broker’s Web site might not be aware of listings from discounters. But Mr. Rouda said that if a buyer signs a representation agreement with a Real Living agent, that agent is required to provide information about all offerings that might appeal to the buyer.”
Search for virtually all Central Ohio listings

Want to know about everything available on the market? Schedule an appointment. 614-825-8842.

Thanks to Mike Adams New Jersey Real Estate Blogger, whose Somerset 08873 blog article  brought the WSJ Online Article with Central Ohio’s own Harley Rouda Jr. quoted.

Mike wrote:  “The Wall Street journal reports that a revised policy approved by the National Association of Realtors this week may make it harder for discount brokers to draw attention to homes they list for sale.”

 

 

 

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July 15, 2007 at 06:14 pm

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1 Florian January 29, 2007 at 03:03 pm

Hi,
I found your blog via google by accident and have to admit that youve a really interesting blog :-)
Just saved your feed in my reader, have a nice day :)

2 moinoh April 2, 2007 at 06:02 pm

I don’t have a clue why I never saw this comment but I did not. Possibley my WordPress confusion…. thanks for the comment. Sorry for the delayed reaction. Hope you still find it interesting.

My WordPress fog lifted on Saturday.

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