Last week Lani Rosales over at AGBeat.com wrote a article describing the effort that the new association National Association of Real Estate Professionals (NAREP) in undertaking to end listing syndication abuse. Here's what NAREP is going to attempt to do:
As Lani covers in her article, there are a number of things that that could stop this movement before it goes very far but I like the concept. I think the biggest risk is as Drew Meyers (who used to be on the Zillow team) describes, "they need to show me the money (in the millions) and team that is going to execute on that statement." I agree with drew, it takes a knockout technical team and a lot of money to do what Zillow did - start from zero and completely pass up Realtor.com.
Ever since I got my RE license and started doing real estate full time back in 1999 it has always seemed to me that the NAR was not really representing the best interest of Realtors. The official NAR site (Realtor.com) could have been the model US wide syndication site for all the MLSs that represented the best interests of the NAR members rather than getting greedy and ending up on the list of sites that abuse syndication.
Even though I agree with and support the general concept the NAREP is promoting it is not clear that: