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NAREP forms to fight abuse of the 'Big 3' in Listing Syndication
NAREP forms to fight abuse of the 'Big 3'
NAREP was just newly formed to address the widespread backlash among real estate professionals who are frustrated with controversial practices by a growing number of real estate marketing websites. These sites rely in large part on listing data syndicated to them from local multiple listing service (MLS) databases nationwide.
NAREP, a non-profit organization based in Texas, aims to challenge Zillow, Trulia, and Realtor.com with its own non-profit business model.  Once NAREP achieves membership representing twenty-five percent of the real estate listings nationwide, NAREP intends to coordinate its members to cease all syndication and sharing of their listings to non-MLS websites.
"This action will eliminate a major portion of the inventory on Zillow, Trulia, and other such sites," according Ben Caballero, NAREP's co-founder and chairman. Caballero was the top individual real estate professional in the United States for 2010 and 2011, as measured by unit sales and dollar volume, with more than 4,500 home sales exceeding $1.2 billion in total value.
"For NAREP to achieve a critical mass of listings, we will need broad support among real estate agents and brokers," said Caballero.  "We are just getting started, but our pre-launch exceeded our ... more

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