realtor.com Changes Good or Bad?
On Wednesday, July 24 NAR’s Board of Directors approved recommendations to help realtor.com® compete head-to-head with third-party listing aggregators. Some fear realtor.com changes will dilute REALTOR® brand, standards.
As a result of the vote, the operating agreement with RealSelect will change in three fundamental ways:
- Amending the restriction that says Move may display only listings that have been sourced from REALTOR®-owned and controlled MLSs or from REALTORS®. Under the revised agreement, Move will be able to obtain listings from entities that are not REALTOR®- owned and controlled and from brokers who are not REALTORS®.
- Amending the restriction on unlisted properties. The revised agreement will allow the display of unlisted new homes and new home communities and will allow the display of unlisted properties that are for rent. Individual consumer FSBOs remain precluded from the site.
- Amending the requirement for listing broker’s consent for the foreclosure status of a listing to be displayed. Under the revised agreement, unless the listing broker objects, Move/RealSelect will have the ability to identify:
- Properties where notice of default has been recorded
- Auctions of distressed properties
- Short sales
- Foreclosures
- Bank-owned properties
So what do you think? Are realtor.com changes good, or bad?