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I find it a bit strange. Isn't the ultimate goal to sell the house that you're listing? But you're restricting potential buyers from the mls information that could help a potential buyer find your listing. Some of the realtors on these forums have asked for non-realtor feedback. OK here it is.... a lot of people don't like using realtors to show them homes. They like researching properties and prices via the internet and like looking at homes without realtors. There are several reasons for this - they might not want to bother realtors because they haven't narrowed down their search, have limited time to see properties, etc. But whatever the reason, restricting mls property access is actually hindering the buying process for all of these people...... and it's your listings that your restricting them from.
The sort of restrictions discuessed are Days on Market or Commissions or Gate Codes. These are really important to you in picking a place? I provide good photos and a virtual tour and dimensions of all rooms. What is it you want?
I guess I'm missing the point of most of this debate about the MLS. I don't understand what Realtor.com doesn't have that the realtors' MLS version has that it causes so much jealousy on the part of the (no, I won't say consumer - how about) non-realtor? Even addresses (some are available - others are not) can be roughly determined by clicking the "find on a map" feature. It will at least get you close enough to do a drive-by and locate the house. Then there's the "days on market". Big deal. It usually doesn't matter much anyway. Either the home is priced right and the seller is willing to deal, or it/he isn't. Sometimes a highly motivated seller prices his home at a super price "right out of the chute" and he's willing to deal, too - he just wants a quick sale. Other times a home that's been on the market forever just means that it's overpriced and the seller's not anxious to get it sold.
Personally, I don't see why it costs us agents an arm and a leg to be members of the local (board) MLS. It's getting so there's not much "priviledged" information that it's worth the big $$$$.
Sorry, but I just don't see the point of this Great Debate.
Personally for me, I don't need any additional mls information, because I know where to go to get it. But for the average buyer, they don't. I think the mls info that would be helpful to all buyers is: address, date listed, sq footage, number of bdrms/baths, subdivision, age of house, pictures and the mls verbage. Realtor.com has some info, and there are individual realtor's sites that have other info regarding their properties, but a buyer would have to know several specific websites in order to get the info and sometimes it's still lacking.
The thing about protecting the buyer because he can't handle the information is actually kind of silly. If the buyer has access to this information and then wants to see the property he'd call you (the listing broker) and then either you or someone in your office can show the property and if he wants to write an offer he could deal with you or someone in your office for representation. Also, this mls information doesn't give out seller's name, phone number, gatecodes etc.
Providing this info in one place/system would not hurt your business or "business model". With your current mls system, your basically making it harder for a buyer to find your property. Your actually advertising to sell something (a house), but then you don't want to show people the advertisement or details without making them work for it.
Providing this info in one place/system would not hurt your business or "business model". With your current mls system, your basically making it harder for a buyer to find your property. Your actually advertising to sell something (a house), but then you don't want to show people the advertisement or details without making them work for it.
Agreed, Steve. I think that's why some local boards have opted to allow most of the information, including the address, sf, age of home, # of bdrms, etc, to be distributed to Realtor.com. The agents who pay extra for enhanced listings on Realtor.com usually include many of the home's amenities in their descriptions as well.
In my area, the local board does allow almost all the information to be distributed on the Internet, plus most agents include the price and address of the home in their print ads, too.
There's a few old'timers who insist that we agents should omit some important bit of info so that buyers will call to find out. I personally think that just irritates people. As you mention, most buyers will call an agent (hopefully not the agent who's name is on the For Sale sign) when they're ready to look for a home. It's important that they have someone representing their interests (and not the seller's) when it comes time to make an offer.
Location: On another site. This one is lame :) Trying to give it a second chance though.
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Originally Posted by Gretchen B
Agreed, Steve. I think that's why some local boards have opted to allow most of the information, including the address, sf, age of home, # of bdrms, etc, to be distributed to Realtor.com. The agents who pay extra for enhanced listings on Realtor.com usually include many of the home's amenities in their descriptions as well.
In my area, the local board does allow almost all the information to be distributed on the Internet, plus most agents include the price and address of the home in their print ads, too.
There's a few old'timers who insist that we agents should omit some important bit of info so that buyers will call to find out. I personally think that just irritates people. As you mention, most buyers will call an agent (hopefully not the agent who's name is on the For Sale sign) when they're ready to look for a home. It's important that they have someone representing their interests (and not the seller's) when it comes time to make an offer.
Always call the agent on the sign, and see the home with them.
Do the deal with someone else, but there is no substitute for talking to the listing agent directly.
If agents are paying for their own advertising, photography, marketing materials, catered meals, etc. then what is the realty company paying for? Why don't real estate agents all become brokers and work for themselves? It sounds as if they're essentially independent contractors anyway. Seeing that it's a commission only job? Also, aren't all of those expenses tax write off for real estate agents? Perhaps the industry has to change somehow. Instead of having all of these franchised offices such as ReMax for instance, perhaps real estate agents should work out of a home office, charge less commission and thus not have to split it with some managing broker or company. What is the role of the company? If someone is going to take a commission only job, then why not work for themselves?
If agents are paying for their own advertising, photography, marketing materials, catered meals, etc. then what is the realty company paying for? Why don't real estate agents all become brokers and work for themselves? It sounds as if they're essentially independent contractors anyway. Seeing that it's a commission only job? Also, aren't all of those expenses tax write off for real estate agents? Perhaps the industry has to change somehow. Instead of having all of these franchised offices such as ReMax for instance, perhaps real estate agents should work out of a home office, charge less commission and thus not have to split it with some managing broker or company. What is the role of the company? If someone is going to take a commission only job, then why not work for themselves?
1. The company offers the benefit of a larger established market presence, name recognition and traffic due to that.
2. The company pays for creditable professional office space and the associated costs, conference rooms, copying equipment capitalization and maintenance, clerical support staff, training, compliance supervision, E&O insurance, trust account expenses and management, and other expenses that afford agents the opportunity to participate in items at a savings due to economies of scale.
100 agents can defray huge costs easier and better than individuals can in many cases.
Not having to administer a trust account or pay a receptionist more than makes up for the split I give the company.
3. "Tax Write-off" is nearly moot. No one in business, for very long that is, ever takes on an expense because they can write it off. No one spends $100.00 in hopes of being forgiven $30.00 by some IRS auditor. Taxes are one of the most aggravating issues for the self-employed.
4. Many agents DO work from home. Or a mix of home and office. Many new agents need the office surroundings to encourage them in their business start-up. And many people live in areas where they cannot have retail traffic or group meetings at home due to zoning or covenants.
5. Successful agents will tell you they work for themselves. I do not ever say "I work for Keller Williams Realty." I don't. I am "associated with Keller Williams Realty." I work for me, and my clients. That is more than words. It is a firm mindset and operating mentality.
Keller Williams agrees, as they have a strong ethic of helping me build my business.
6. Why would anyone ever consider taking anything other than a commission-based job?
One other thing to consider, Realtors sometimes assist and lower commission to make a deal work. Minor repairs and the like. The average 3 % is like a break even. They don't always get it.
Along with that, depending on their contract with their Broker. They pay a certain percentage for Franchise fees, office fees, ect.
Some, as previously stated, are straight 100% but take on the full cost of advertising and marketing.
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5. Successful agents will tell you they work for themselves. I do not ever say "I work for Keller Williams Realty." I don't. I am "associated with Keller Williams Realty." I work for me, and my clients. That is more than words. It is a firm mindset and operating mentality.
Keller Williams agrees, as they have a strong ethic of helping me build my business...
Mike portrayed a very accurate picture of the industry. To add to his point #5, every agent is an independent contractor. We do operate our own business, and the successful agents, as Mike pointed out, know how to operate their own business, how to build a business plan, budget expenses, market, advertise, and are highly customer service oriented.
That is the independent contractor agent, as opposed to a broker who operates an office.
The independent contractor agent must operate under the broker umbrella. The broker becomes responsible for everything the agent does. Therefore, you have some checks and balances. The broker is responsible to check every piece of paper work that the agent hands in, and to see that it is correct, has all the necessary initials and signatures, and is handed in on time.
The broker can be audited at any time by the ADRE Arizona Department of Real Estate, and can be fined if files have not been handled correctly.
A broker has the option of operating completely independent, such as John Doe's Real Estate company, as a one person operation, or hiring other independent contractor agents into that independent brokerage. he can also buy a Remax, Keller Williams, or other national franchise in order to have the national and international marketing clout that these large franchises offer. Then he/she will definately have to hire agents to help pay for the franchise fees.
To become a broker in Arizona one must have been an active agent for 3 years, and have taken and passed the state broker exam.
So the broker who desires to operate completely on her own as an independent company; Jane Doe Real Estate Company, has the required experience.
A large number of agents who obtain their license never take more advanced training, so if the agents were allowed to go and operate completely on their own, without being under the supervision umbrella of a broker who has to provide the checks and balances, then we would have a very undesirable and potentially dangerous (to the public) situation out there.
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Even addresses (some are available - others are not) can be roughly determined by clicking the "find on a map" feature. It will at least get you close enough to do a drive-by and locate the house. Then there's the "days on market". Big deal. It usually doesn't matter much anyway. Either the home is priced right and the seller is willing to deal, or it/he isn't. Sometimes a highly motivated seller prices his home at a super price "right out of the chute" and he's willing to deal, too - he just wants a quick sale. Other times a home that's been on the market forever just means that it's overpriced and the seller's not anxious to get it sold.
