The future of real estate is long overdue. Before the personal computer we had to use a travel agent to buy an airplane ticket, go to the library to research a topic and but an out of town newspaper to find current news on a far away city. However, the real estate industry is still holding homeowners hostage to their Multiple Listing Services. |
Here's how it works. If your house is worth $400,000- you will pay a Realtor approximately $12,000- just for them to list it in the MLS. Then, you will pay the Realtor who actually sells it an additional $12,000- to bring you the buyer. The listing agent does very little work, usually having their 'transaction coordinator' enter everything in the MLS and manage the listing. The charge to the Realtor for that service is typically $400- It's a goldmine requiring very little work.
Now that we all have personal computers why can't we list our houses in the MLS ourselves? Why pay $12,000- for a transaction coordinator to do that?
Recently, Zillow.com came along and gives people the chance to sell their own home directly. Realtors just hate Zillow. They are trying to hold on to their golden goose; the listing commission.
Some homeowners are sophisticated enough to do their own data entry. I have personally sold 2 houses without using a Realtor. Now there is a new service at Listingly.com For $9- a month they will place your listing in the MLS and it will propagate to all the websites that the full price listings do. It's the exact same service.
So, the future is finally coming to real estate, but not without a fight from the old school, overpriced listing brokers. Hey, $12,000- will go a long way towards a new house.
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