[svrpaul]

My biggest issue is the disclosure issues. I'm generally on top of things especially when it comes to consumer protection but this issue and research reading the financials has just really opened my eyes up.

The "MLS Consultant" with the concern that MLS would become "generic" if REALTORS continued using it on their websites has a direct relation with the R.com president.

Correct me if I am wrong because I was not at the discussion forum, but it was not disclosed that the "Consultant" to the MLS committee was a co-founder of Pranix Inc. which it just so happens that the R.com president was the other founder. Not only that, she used to work for R.com.

Move is going local and all you have to do is some link checking on the Top Producer REFERRAL GENERATING site which is owned by Move ---> homeinsight.com/home-value-report.asp to figure out what the power is. (And yes, they have MLS all over that site so they certainly understand the value of using MLS.)

Now... let's just say that you are representing a buyer and you tell them what a great deal a piece of real estate is and they buy it. The buyer then finds out that a relative of yours was the seller. EVEN if no intentional wrong doing happened, don't you think they would be pissed if you did not disclose the relationship?

As stated, I've avoided the search the MLS phrase due to our policies here in Illinois but I certainly understand the value of the term / keywords.

As stated, what caught my attention on this whole subject was that the amendments were a little goofy to say the least. THEY DO NOT protect the consumer and that should be the concern of every REALTOR who believes the REALTOR Code of ETHICS were formed for that very reason.

[svrpaul]

P.S. -- I'm not a fan of other third party sites as evidenced by previous blog articles --> http://www.realestatewebmasters.com/...aul/1277/show/
but I'm starting to think that they are our friend by having an alternative to keep prices at a reasonable level to promote OUR clients Listings.

Brian Brady's post on AR is right on --> http://activerain.com/blogsview/2343...s-Be-Afraid-of

Today it is the MLS. Tomorrow it is your blog. The Day after will be your website.

If YOU cannot have a blog or website that meets State Real estate Division guidelines then YOU have no business representing Buyers or Sellers in a real estate transaction. An association that MAY be implementing rules that protects their financial interests is of NO benefit to the consumer.

[Ryan Ward]

Great Quote from Brian's Post:

As the trend grows, large real estate brokerage firms and lenders are watching their salespeople build their own brand through weblogging. Traditional real estate brokerage firms and banks rely upon the economies of scale to advertise heavily to the consumer. If the sales agents are developing independent marketing communications platforms, the value proposition of a large broker or bank is diminished.

This is likely the root of the issue with agents and brokers using an MLS datafeed on our website and whagt the big concern and power play is about. It does a couple of things:

1. It makes r.com and other sites our competition, not our friend.
2. It reduces their relevance (To the consumers benefit in my opinion).

[satxproperty]

A couple of years ago, maybe less, weren't there a group of brokers in Illinois that pulled their listings from "the MLS" and started their own competing MLS?

So, if your area has a competing non-board controlled MLS, you, as a Realtor won't be permitted to advertise that you are a member of that parallel competing MLS...

[svrpaul]

Ryan,

Individual real estate agent sites are costing a certain big real estate brokerage a lot of money. Not too long ago you could type in "city" company real estate name and our site was #1. (When we were with that franchise.) By the way... it was a big city.

Back in 2000 when we got our first real estate website and learned how important it was, we went 92% (max % with a desk fee) and never looked back. I blogged about it here --> http://www.realestatewebmasters.com/...aul/1176/show/

The particular franchise charged agents a 50% commission split for internet leads and still does.

Obviously, real estate sales are WAY DOWN and investors are not happy with decreased profits. Relationships need to be DISCLOSED before amendments to the Code of ETHICS are made.

By the way... I have ZERO interest in recruiting agents and starting a real estate brokerage so my intentions have NOTHING to do with pointing out interests/relationships that SHOULD be disclosed.

I've pointed out several relationships here that according to my knowledge, have not been DISCLOSED to all of the hard working REALTORS out there.

DISCLOSURE is an important part of protecting our Clients BEST interest and I think we all know what happens when you violate the Trust of a client.

[Ryan Ward]

Not disclosing things properly could also be considered a violation of the code of ethics if I am not mistaken...

There is definitely more to this than this one ruling addresses, but, we have to start somewhere.

I believe that transparancy is critical to developing trusted relationships and I don't believe there is a great deal of transparancy here.

[svrpaul]

Originally Posted by satxproperty

A couple of years ago, maybe less, weren't there a group of brokers in Illinois that pulled their listings from "the MLS" and started their own competing MLS?

So, if your area has a competing non-board controlled MLS, you, as a Realtor won't be permitted to advertise that you are a member of that parallel competing MLS...

Actually -- agents paid (and still do) double fees for what you are talking about.

I'm licensed in two states. Don't get me started on that. Some brokerages in Illinois do not want IDX info. (their listings) being shared on other brokerage sites and it does not take a rocket scientist to figure out why.

[svrpaul]

Originally Posted by Ryan Ward

Not disclosing things properly could also be considered a violation of the code of ethics if I am not mistaken...

There is definitely more to this than this one ruling addresses, but, we have to start somewhere.

I believe that transparancy is critical to developing trusted relationships and I don't believe there is a great deal of transparancy here.

Ryan -- you are absolutely right. I have a background in financing and accounting so I can read financial statements and know how to do the research on public companies.

Personally, this had nothing to do with me until I started looking into things and the fact that I MAY be paying Association fees to promote the financial interests of others disturbs me.

I think it's safe to say that 98% of the REALTORS out there do not know what is going on.

[svrpaul]

By the way, can anybody provide a link to an income statement or balance sheet of where all of the money that REALTORS are paying into Association Fees?

I'm looking for a breakdown and I can't find it.

[svrpaul]

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