Greg Swann, created another interesting post Bloodhound Blog:
Greg's post was triggered by another call of the Minnesota Association of Realtors for some of its members to quit to give other members a chance to make money (doesn't it reminds you the Animal Farm's statement that some people or more equal than others?). Greg calls for supplanting NAR and argues that:
"What is needed is an analogue to the Underwriters Laboratories for residential real estate agents, an objectively determined standard of excellence — hard to get, easy to lose, and impossible, ultimately, to do business without."
As you might know from my previous post Good and Bad about NAR: Can we fix NAR?, I am not necessarily a big fan of NAR, but I believe that the process of NAR supplanting has already started. We don’t need another organization to make it happen. I talk about it in my post “Who started the real estate revolution?”. Appearance of Zillow and Trulia have sent unmistaken signal to NAR and MLS. And the signal was received. Within last year we observed more positive MLS changes in the Bay Area than in the last 20 – 30 years, give and take. Additionally, I believe that the system proposed by Mark Nadel in his report Critical Assessment of the Traditional Residential Real Estate Broker Rate Structure and relying on a simple decoupling of the listing broker and selling broker fees might be a right way to go. Mark’s approach could provide an economic mechanism to promote necessary changes in the real estate market place. You can find the essence of Mark’s proposal from his comments to my post Is Your Income Below $12,000 per Year?.
But go and read Greg’s post and many comments yourself.