Zillow CEO: startups trying to disrupt real estate commissions will fail (2012)

Post by crysin » Wed, Jan 16, 2019, 10:37 PM UTC

ilamont wrote: post #2

That's a bold statement. Still, the NAR has data that suggests realtors are more likely to be involved in transactions than 18 years ago: 87% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69 percent in 2001. Source: National Association of Realtors ( https://www.nar.realtor/research-and-statistics/quick-real-e... ) ... But I'm curious if the definition o…

Post by benmanns » Wed, Jan 16, 2019, 10:37 PM UTC

ams6110 wrote: post #90

clairity wrote: post #77

Earlier quoted context omitted.

> "That being said, the National Association of Realtors (NAR) and their local branches are the definition of a cartel." NAR was actually investigated by the federal government (FTC i think? ), who concluded much the same, but lobbying buried the report and nothing came of it. MLS's maintain power by strictly controlling access to information. they have the most up-to-date and the most detailed information about prop…

Property transfers, including buyer, seller, and sales price, are public record. It's all published in the newspaper. How can MLS control access to that information? Is it just that nobody else bothers to compile it from the county records?

Post by erklik » Wed, Jan 16, 2019, 10:39 PM UTC

Joakal wrote: post #62

igolden wrote: post #24

Earlier quoted context omitted.

+1 - has anyone successfully proved him right/wrong since?

I'm not familiar with landscape in Australia but there's two most popular websites not owned by real estate companies: realestate.com.au and domain.com.au (both owned by competing media companies!)

Post by linsomniac » Wed, Jan 16, 2019, 10:44 PM UTC

clairity wrote: post #77

ryaniscool wrote: post #33

Over the last two years I've bought a couple of properties and I see the value of realtors as professional negotiators and experts on real estate laws and contracts. That being said, the National Association of Realtors (NAR) and their local branches are the definition of a cartel. My parents owned a real estate agency when I was growing up in the 80s and 90s. Back then, the cost of selling and marketing real estate…

> "That being said, the National Association of Realtors (NAR) and their local branches are the definition of a cartel." NAR was actually investigated by the federal government (FTC i think? ), who concluded much the same, but lobbying buried the report and nothing came of it. MLS's maintain power by strictly controlling access to information. they have the most up-to-date and the most detailed information about prop…

Post by harryh » Wed, Jan 16, 2019, 10:47 PM UTC

sokoloff wrote: post #81

harryh wrote: post #75

Earlier quoted context omitted.

Is there a reason you didn't do the deal without an agent and specify in your offer that you wanted the entire 3 points rebated back to you (which is kind of silly accounting, but whatever)? Certainly this would have been possible.

The contract that I signed to sell another property specified that the full commission was due from the seller regardless of buyer representation , but that any registered real estate agent working on behalf of the buyer would share equally in the commission, paid by the listing agency. IOW, I don't think it would have been possible, as it wouldn't have been possible in my listing contract. If I thought it was possib…