Each day in real estate we receive calls from buyers that have already identified they have an agent and want to see homes, or agents that want specific information on listings that were found on a website by their clients. On a typical day phone calls can start in the morning, and end in the evening. It is very time consuming, but it is very obvious that mostly new real estate agents do not understand the difference between homes found for sale on the Internet via IDX or 'Broker reciprocity!" Obviously, all 100,000 listings on a website are not owned by any agent that has a website. The calls are an avoidable nuisance. It would not be uncommon for real estate agents that call to demand information on listings 60 miles away, or ask for a lockbox code on a foreclosure that is 50 miles west of our office and isn't even a company listing. A few times agents have even said that they were trying to fax a contract on a listing that wasn't our own. All the data they are seeking is readily available on the MLS once they login. That is pretty scary that agents like this are really licensed, and are representing someone in the most expensive investment of their life. For the agent receiving the call, there isn't enough hours in the day to answer the questions and do their own work.
An outsider to our industry never could have assumed that real estate is so totally dysfunctional. One cannot help but wonder if the agents have an office, own a computer or have access to the Internet or MLS. They are not looking at an MLS, and this calling an agent because they have a website puts an unfair burden on others to do their work for them. If you try to explain IDX, and that we have been using it for over 7 years now some agents get belligerent. All they want are immediate answers. The easiest answer is to "Ask your Broker to explain it to you!" I cannot help it that you are not looking at live data.
The story gets better when uninformed clients of these agents assume that all these listings belong to one agent. A rule that I adhere to is that if a buyer or a seller identify they have an agent, I will not ever interfere with another agent's agency agreement. That is unethical. If a buyer calls and asks to see a home because their agent is too busy, my answer is "No!" First of all it isn't my listing, I don't know you, and I already have appointments with my own clients. I also explain that if their agent does not do the work for them, and does not show them the listings...they are not entitled to get a commission. That usually meets with some opposition.
The reason we are paid high commissions in real estate is that we work long hours and sometimes months before successfully closing a deal for our clients, it isn't free, and there is a lot of hard work involved. There are loads of fees in this industry that must be paid. MLS fees, agent fees, technology, board dues, license fees, continuing education fees, and marketing fees. Agents need to pay for MLS access or go into their office to access data if they cannot do so remotely. If they do not understand the difference between the MLS and a "Broker Reciprocity Feed" they need to sit down with their broker. Any broker that does not explain this to their new agents as part of Real Estate 101 should give up their broker license. It is inexcusable!
- The Internet is not the MLS
- Broker Reciprocity Listings do show the names of the listing company on the Internet display.
- Most real estate companies participate in IDX
- Agents may usually use Broker Reciprocity if their broker allows them.
- Rules for Broker Reciprocity and IDX may vary with state law, MLS, or local board rules.
- Agents need to explain IDX to their clients.
- Agents need to give their clients their own website or IDX source to search homes.
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Love you bottom line . . the bullet points!
Great, and right!