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NWMLS fines Redfin; no RE review blogs or DOM allowed!

redmondjpredmondjp
edited May 2007 in Seattle Real Estate
http://seattlepi.nwsource.com/business/316205_redfin18.html

With all of the online sales and information sites out there on just about everything, and online product review sites (epinions) as well as online sellers that even allow comments on their own merchandise (amazon), how does the MLS think that they can stop this type of thing from happening? It's long overdue IMO.

And GOD FORBID that anybody knows how long a house has really been for sale :shock:

Comments

  • mike2mike2
    You have to check out the tirade going on over this at rain city. It's almost painful to watch Ardell and the other agents dance around the real issues with their "we're protecting the consumer by hiding harmful information" mantra.
  • klioklio
    It's information monopoly!
  • bilirubenbiliruben
    I've been wasting too much time over at RCG. I don't think I'm changing any minds, that's for sure.

    Russ gives hope that the DOJ will help, however.
  • kpomkpom
    You forget that the First Amendment doesn't give you the right to say anything that might reduce real estate values...

    Just ask Ardell....
  • mike2mike2
    biliruben, it seems like the agents are unwilling to admit that the old system was set up with the agents in mind first, the sellers second, and buyers are just to be served by the agents.

    This might have made sense at one point but it doesn't mesh well with the consumer driven nature of interactive web applications.
  • bilirubenbiliruben
    No shite, kpom! Tim should be clapped in irons.

    Yeah, Mike. Some time in the past, when listings were kept in dusty binders, the MLS served a useful purpose, one that was probably worth 5 or 6% of the transaction costs, given what houses costs up until the late 90s.

    The ability to compile listings cheaply and easily on the internet combined with the inflation in housing de-coupling with inflation in general goods and income creates a situation where the old system makes absolutely no sense.

    I just hope things get a bit more rational before I go to buy in a few years. I would hate to have to buck the system. That's hard work.

    I would prefer the the system reform itself so that it makes sense to use it again.
  • CKTCKT
    I couldn't believe the comment from Ardell about Seattle Bubble Blog. Tim scares people? What a bunch of crap. The truth is the truth; too bad if the bed wetters can't handle it.
  • SeattleMooseSeattleMoose
    "Redfin Chief Executive Glenn Kelman said he had no choice but to comply, noting that the listing service had threatened to shut off its daily feed of for-sale listings."

    Ah yes, the old "fox guarding the henhouse" syndrome. Lets face it, the MLS is a cartel with a HUGE conflict of interest. There are deep (and rotten) roots that need to be pulled up.

    Information should be made available via an independent entity who has no conflict of interest.

    And guess what....it is going in that direction.

    Soon our friendly "RE Professional" will be stuffed and sitting in a museum next to the Dodo and Dinosaur.
  • fatsteakfatsteak
    Real estate agents are like stock brokers. It took a long time to get to where we only need to pay a few dollars for a trade. In the old days, it was a hundred dollars easily.
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