In his comments on Russell Shaw’s article, Jay Reifert Is Tired of NAR Hiding the Truth, Jay Reifert warns us early on that he is spoiling to get this fight into the public eye I suspect this may be driving his over-the-top diatribe. Too bad, because I think he makes a valid point that the […]
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“You might need a dog toy, but your dog just needs you.”MLS fights are always about Residential listings. Nobody is claiming to have lost sleep (or money or jobs or opportunities) over Land and Lots or Multi-Family or BizOps. No one at Redfin is tasked with tracking underperformance by Patagonian buyers competing for Industrial properties. You […]
Once upon a time in my young career, I used to think about sending little notes to flailing sellers, telling them why their houses weren’t selling. Arguably, this would have been a violation of Article 15 of the NAR Code of (ahem) Ethics, but it would have been bad form regardless. Besides, I was making […]
Reflecting on Jeff Brown’s post on economics, which in turn referenced an argument by Malcolm Galdwell, I made a short movie explicating the meme “information wants to be free.” Cliff’s Notes: When a market good is so redundantly abundant as to be, essentially, ubiquitous and unavoidable, its market price will tend to plummet to zero. […]
I had this news last night, under embargo, but I was tied up with geek stuff. The Cliff’s Notes: In areas where Redfin.com has MLS reach but does not have its own agents on the ground, starting today it will begin offering client referrals to agents it has screened and whose performance it will monitor […]
I know someone who knows a guy who might know of a ‘pocket listing’ back in the old neighborhood. That’s how everybody refers to a certain kind of good fellow in one particular ‘Near West’ Chicago block of stoop and brick row homes—guys. They call them guys. Guys from the Neighborhood. “He’s a guy.” “Who?” […]
If You’re That Busy – Then Move Along – There’s Nothing To See Here One thing is for sure – no matter how good your marketing or your prospecting might be… if you don’t strike while the iron is hot, you’re probably going to shoot yourself in the foot. I have a friend who lives […]
The uncontested brilliance of the free market is that it is self-correcting. People like me have been bitching all along that Redfin.com’s approach to buyer representation was misguided if not outright evil. Conceding some huge chunk of the buyer’s agent’s commission to the buyer was certainly consumer-friendly, but pushing the cost of buyer representation off […]
In his post here earlier today, Jim Duncan said something I’ve thought since the day I stood up, raised my right hand and pledged to uphold the Realtor Code of Ethics: I have argued before that if you need 8 9 pages to explain ethics, rather than a simple code of honor, you just might […]
“I purposely did not go to law school because I purposely did not want to become a lawyer.” I say this a lot to people, usually when they ask me if I’m an attorney, which is more often than you might think. I actually had to mutter those very words last Sunday but I’ll address that particular exchange in […]
Part IV: Divorcing the real estate commissions will result in benefits not just for buyers but also for their agents and for the real estate market as a whole The National Association of Realtors is embroiled right now in a protracted anti-trust suit brought by the United States Department of Justice and the Federal Trade […]
You hear it here, you hear it there (there being here), and you know it in your heart. Real estate is so darn personal. Ah, the personal touch! That is why I blog, and why I am very responsive to my emails and voicemail. That is why I love, and my clients love, the […]
I am a hardliner on the subject of reform in the real estate industry. Over the last nine months, I have written at great length about, among other things, the skill-set required to survive in the future of full-service real estate, empowering buyers, dual agency, how the NAR makes war on the free enterprise system, […]
Why is it that so many agents seem to see a “Sell” in “Selfless”? Don’t people see through the facade, or does this really have a positive marketing impact? I suppose it depends on your particular shtick, and perhaps the “love me” approach will play to some audiences. Call it naivete or an ignorant, misguided […]
I submit to you – the time has come. In fact… it’s long overdue. As someone who has received more referral money than I have paid out – it has been good for me on a personal level. But I fear that is has become disastrous on an industry level. Relocation companies, REO Asset Management […]