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The total transparency and " self policing" nature of this concept is a fasinating.
Imagine a world where your friends, family, neighbors, employers, prospective employers and those intent on fraud know how much mortgage debt you carry and what your bathroom looks like.
Imagine a world where other people can and will trash your property and create polls about the hideousness of your wallpaper on a scale of 1-10.
Imagine a world where anyone can say anything about you, and it immediately alters your personal , professional and property popularity score.
Imagine a world where your online popularity score is meaningful.
Imagine a marketplace where anything goes and buyers who want to steal the property meet sellers who are not going to "give it away" while the crowds roar, as they did when wild beasts were hunted in the Roman Coliseum.
His idea is getting trashed all over the blogosphere.
Greg Swann was going off because it would be one point of entry which means a monopoly and one company that would control the data. I agree with him, that while it is irritating to reenter my data so many different places, a monopoly would be so much worse.
Somehow, I just think it would go the way of Realtor.com. Fees for this, fees for that, and then we would be stuck.
I'm surprised this hasn't been discussed more, this is pretty revolutionary. It seems to fix a lot of critiques about the current MLS. I'm surprised you guys are so negative about its ideas.
Quote:
Vision:
Parcel Based
Agent rating system
Referral system at no charge to agents
Extensive agent profiles
Builds and improves neighborhood information through user input
MLS 5.0 will use the resources of:
The aggregated listing information, which are assets owned by the brokers that created and financed the businesses to contract those listings, and
Information associated with a property even when that property is not for sale. And allow it to be augmented by images, sound, video, and text and include it in a database of all properties, not just those for sale.
Sold data accumulated by MLS
Public data
Consumer-generated content from online communities, groups, blogs, and other Web 2.0 technologies and applications
I don't understand the negativity. Finally consumers will get a more "hands on" approach toward buying and selling their homes, with the collaboration of real estate agents.
Oh, and middle-aged-mom, you should look up the term FUD. You just gave a textbook example.
I really dislike the monopoly aspect of it. I personally would want NAR to have NOTHING to do with the new MLS 5.0, but they would potentially be in this model. THAT is the issue people have with it.
Right now NAR has a choke chain on 82% of MLS's because those MLS's require registration in NAR in order to be a member of the MLS. If MLS5.0 were the case those other 18% of MLS's would have to require membership in the NAR in order to participate in the national MLS. That is bad for consumers and agents.
This model requires some "goodness" and lack of greed to pull off successfully, otherwise consumers and agents have one point of entry. The monopoly that would have in the real estate market could be devastating. One place where all data originates.
This model requires some "goodness" and lack of greed to pull offsuccessfully, otherwise consumers and agents have one point of entry. The monopoly that would have in the real estate market could be devastating. One place where all data originates.
I have spent my entire life looking for that one place on earth where only goodness and an absence of greed exists. Thus far, I have not found it.
I have spent my entire life looking for that one place on earth where only goodness and an absence of greed exists. Thus far, I have not found it.
I haven't found it yet either, which is why as much as I like many of the ideas Saul has thrown out, the monopoly would end up being a bad thing for all parties.
Isn't it sad to have to be so pessmistic about mankind.
I have spent my entire life looking for that one place on earth where only goodness and an absence of greed exists. Thus far, I have not found it.
LOL
Aren't you pessimistic?
In my opinion, a new MLS is just what we need. I have a lot of clients that complain that they can't see "all the facts". Hopefully this will make them happy.
Saul, I think, has a good pulse on the possibilities for the next generation of MLS.
In spirit of full disclosure I was a RIN tester, a MLS instructor (off site over the internet) and I am an e-PRO! I am also a NAR Certified e-PRO Trainer http://AlisaHagner.InternetCrusade.com
In my opinion, a new MLS is just what we need. I have a lot of clients that complain that they can't see "all the facts". Hopefully this will make them happy.
I a realistic.
5.0 is a business proposistion. Property Wiki does not disguise that the intent is to create a monoply. Consumer generated content will impact public perception of neighborhoods and delivers a death blow to the FHA.
All one has to do is read the location specific message boards on this site to get a sense of the neighborhood/community bashing and stigmas that are created by the public.
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