More Home Buyers Searching Online, Realtors Need to Adapt

Posted May 12th, 2008 by admin_huliq

The NY Times has a story today about MLS listings being posted on more Websites, like Zillow, and how real estate agents and brokers need to adapt. Hat tip to The Real Estate Bloggers.

"The trend revolves around the nation’s roughly 900 multiple listing services, or M.L.S.’s, where local brokers post information about homes they are selling. In years past, these services were highly restrictive about where and how that information could be distributed — for instance, frequently not permitting Web sites to display M.L.S. listings alongside for-sale-by-owner homes, bank foreclosures or other properties not represented by real estate agents.

"But Mr. Hale, of Houston’s M.L.S., suspects that resistance will wane. “Their attitude has been, ‘Just because the consumer wants it doesn’t mean we have to give it to them,’ ” he said. “It’s the sure way to your demise."

Just as with most industries, the real estate market is evolving-- and the speed of evolution becomes faster as new technologies are adopted. For too many years now, a realtor's main value came from access to the MLS. With flat fee MLS and various websites, they have lost control over this powerful tool.

Agents must reaffirm their value to consumers. The biggest complaint I hear from members of our network is that their agent isn't negotiating hard enough for them and they feel this is because they are afraid to rock the boat and lose the commission. I have had to fire many buyer's agents for this reason.

Posted by Suzanne Morris of Ideal Investment Corner

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flat fee mls

Anonymous's picture

Pretty cool. Yes flat fee mls and fsbo sites like http://www.mlsisland.com and http://www.mlsflatfeefsbo.com are all over you even have google adsense links to them on this page.

Realtors still are the main thing though. Who knows?

Flat Fee MLS

grapejelly's picture

Also see http://www.huliq.com/61415/10-realtor-success-secrets-falling-market

Hopefully more Realtors will get the picture about what it takes to really solve homeseller's problems.

--Grapejelly

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