November 5, 2021
Bad for consumers. Bad for business!
I was approached last evening to join in the debate regarding IDX and the proposed NAR changes in disclosing the “listing agent” vs. the “advertising agent” on all IDX listing pages. While I’m flattered they thought of me 😍 , I declined to participate. (more on that below)
CRMLS was the first MLS to adopt this change. And now NAR is debating the issue as well – apparently, courtesy of Realogy. Thank you, Realogy! <sarcasm>
If this is news to you, please see the following links:
https://www.rismedia.com/2021/10/28/comments-proposed-change-idx-brokerage-agent-information/
I believe these changes are misguided.
(^^That’s the “polite” version.)
They say it’s about “transparency.”
They say it’s for consumers’ best interests?
Yeah, right. 💩
I’m not sure who they think they’re fooling. And I’m sure that no one reading this is fooled, no matter what side of the debate they’re on.
Merry-Go-Round of Bad Decisions
It’s clear to me the industry has forgotten what led to “Buyer Agency” being created to begin with, among which was to (ironically) protect consumers. And now we’re going to be slapping the listing agent’s information on all listings? Crazy stupid.
While I believe the basis of these changes is absurd and will ultimately harm consumers, I’m not willing to enter forum debates these days as I’m focusing on our clients and our own business and trying to do better mentally and physically.
That said, anyone who knows me is aware that I’ve been frustrated with this industry long before becoming an agent in 2011. It was my dissatisfaction with specific practices that compelled me to become an agent in the first place. And I’ve not been shy in expressing my opinions, especially in Facebook groups.
All of my industry gripes can be boiled down to this:
This industry is terrible at contemplating the long-term consequences of its actions (or inactions).
For example, if we were forward-thinking, then Zillow wouldn’t have IDX today because we wouldn’t have forked over all our data for free in the first place. They would probably have an entirely different business model. And, perhaps they would not have made their own bad choices, such as entering and exiting the iBuyer business. Seriously Zillow?… you had one job to do, buy & sell real estate. Not as easy as you thought, huh?
Anyway…
There are too many examples of spectacularly bad decisions in this industry, all in the name of lead generation.
And these days, I can’t help but feel like we’re destroying ourselves ☠️ at an increasingly rapid pace because we’re unwilling or unable to accept reality.
And the REALITY is that the ONLY way the industry will survive (as we know it) is to look beyond the sale and commission. Instead, we must look at the bigger picture: the fundamentals of operating a successful long-term business! And that’s not going to happen until the majority of agents stop approaching each day with a “hand to mouth” mentality.
I don’t have a crystal ball or all the answers.
But I do know that if we don’t change, others will force change upon us. And the **insanely awful** changes to IDX disclosures are one example of that.
If you agree, then please make your voice heard.
