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REALTOR.com too show FSBO.com listings without them actually being listed

OK, I just read about this over at Bloodhoundblog.com. REALTOR.com is selling us out to make a few extra bucks. They soon will begin showing Forsalebyowner.com listings along side all your enhanced listings that they are charging you blood for.

That's right, soon people will be able to have their home on REALTOR.com without actually listing their home for sale with a licensed REALTOR of any sort. Here is the press release on this travesty.

What are these bone heads thinking? I think it is time for NAR to revoke move.com's lease on the REALTOR.com domain name. After all, isn't Realtor.com supposed to be for the benefit of the REALTOR's who support it, feed it with all their home listings, and generally take it in the neck for it??

Just my opinion of course but, what a bunch of stupid people over at move.com. Want to let them know what you think of this? Call move and voice your opinion (805) 557 2300 They are ready for your call now!!

I as a New Jersey REALTOR am not at all happy with this development.

Posted by New Jersey Real Estate James Boyer Morris, Essex & Union County NJ Realtor on 11/13/2008 05:14 PM

Comments (21)

realtorcom, movecom, fsbocom, forsalebyowner

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21 Comments on REALTOR.com too show FSBO.com listings without them actually being listed

NOV

2008

It doesn't look like it is Realtor.com's decision to allow them to post on there. Realtor.com isn't what it used to be anyways.

Hi James,

I agree with your concern - realtor.com will become the next Craigslist for homeowners - you wait and see.

Laurie

Wow, this sounds troubling. I will have to look into this and I already don't like the sound of it.

With all that NAR does to protect the Realtor brand and name, this does not make sense to me. This would truly erode our position and livelihood. Isn't this just giving us up?

I think its just ridiculous and shows how worthless of a site that is. I would never send anyone there.

http://www.forsalebyowner.com/listing/new/package

i think it's like giving the kids in the neighborhood loaded guns so they can learn about gun control...

there is so much mis-information in the consumers heads already... they are going to make a mess of things if they act as "their own REALTOR(R))...

i can see it now.... our neighbors go to Zillow to get their price... inflate it by 20% cause they have a REALLY great home... and then list it on REALTOR.COM through a FSBO site... the 'green' newbie buyers agent confirms the price AT ZILLOW and writes a contract... the appraiser thinks they were sent to the wrong property... and then the mortgage lender tells the buyers agent they are $65,000 over market with their offer... the buyers agent yells at the loan officer... and the buyer finds another loan officer (the newbie buyers agent gets this new loan officer name from a box of donuts at the office)... after a 2week delay the buyer renews their lease... and the newbie buyers agent goes back to slinging ice cream at baskin robbins... the newbies x-real estate broker needs more business so they must replace that newbie buyers agent... so they run more ads in craigs list: "get your real estate license in 4 days" and you too can make $100,000 a year

i think it will all end with 7-elevens offering mls kiosks

Thanks for the news I'll pass it on to all the realtors I know

Thanks for the info. It does not sound good for us.

Not being a member of NAR, nor of using realtor.com, I'm not all that concerned. (Before you break out the guns and knives, I'm a builder with a brokers license). However, it is a big deal if you are using the service as a paid subscriber and then find out your "competition" is getting it for free.

You know the way to drive your point home? Cancel your Realtor.com subscriptions or listings, then put them up on FSBO. When the revenue stream dries up, then somebody will probably notice.

My 2c worth.

What a bunch of BS. This really de-values our profession. Thanks for the heads up. I think Mike is right, the best way to protest this move is for the professionals to pull out. Think they'd get the message then?

Realtor.com is allowing this becauise it was a part of the DOJ settlement that they bargained on. Don't stop at Move.com,.. or Realtor.com,.. make sure you contact your congressmen and your senators as well.

I pay stupid amounts of money every year to make my listings pop on Realtor.com,.. how fair is it that the squatters get a legal right to move into the house that I paid for???

NOV

2008

As REALTORS we certainly pay them enough to be on our side. Big Bucks For What?? Unbelievable! They really could end up losing more than they are bargaining for with that decision! I guess the only thing we can do is hope that MLS associations start dropping out on them, then they will not have all the listings and will not be as popular a source as they are. Ideally just turn them into a FSBO website and no MLS listings.

Isn't it called REALTOR.com?

UPDATE - My broker just sent me this information.

If you receive any inquiries about a press release sent by ForSaleByOwner.com claiming they have a relationship with Realtor.com and are now posting FSBOs at Realtor.com, please be advised that their claims are false. Below is a response I received yesterday from Susan Young of Realtor.com.

Laurie Janik of NAR has issued the following statement:

Please reassure your MLS participants that there are no unlisted properties on Realtor.com. We still cannot figure out the basis for the outrageous claims being made by ForSaleByOwner.com in this press release. No relationship exists between that entity and Realtor.com. Listings displayed on Realtor.com continue to be provided by the MLSs, and contrary to the headline, there is NO "agent free access to Realtor.com".

http://www.forsalebyowner.com/listing/new/package

ForSaleByOwner.com must therefore have a Real Estate Broker somewhere in the loop

STILL - the public sees the ability to have their home on REALTOR.COM

ForSaleByOwner.com is by far not the only company jumping on the "List in the MLS Cheap" bandwagon: Coming to a neighborhood near you:

http://activerain.com/image_store/uploads/7/7/6/5/4/ar122662205445677.jpg

Well at least we know if it's on REALTOR.com they will be offering a selling agent commission, if it has to be in the MLS.

just because it is in the mls doesn't mean the seller is offering a buyers agents commission... i bet we will see 1% listed alot...

BUT... in my opinion this FSBO listing thing will not affect us REAL REALTORS much at all... it is just an extension of the whole discount real estate industry...

consumers have always shot themselves in the foot looking for a good deal... always will...

Here's the question. According to Move.com and Realtor.com the participating VOW must be a broker, to comply with state law, I would think that broker would need to hold a broker's license in the state that they were doing business along with the state the property for sale is located. They would need a place of business in that state along with a resident broker.

The VOW agreement with the DOJ, the way I read it, states that the listing "does not" have to be listed on an MLS in order to participate on Realtor.com. The reason this was brought up I am sure was because of "Local" brokers who chose NOT to participate in the MLS and chose NOT to be associated with NAR but still wanted to be able to advertise their listings on Realtor.com.

I do not believe for a minute the purpose was to allow For Sale By Owners to advertise on Realtor.com.

There are some who are wanting to stick their heads in the sand and claim there is no validity,.. that it's not true. I am on the Board of my MLS system here and This is ON the agenda, I have looked at the offer on www.forsalebyowner.com, I have verified with US News and World Report along with Business wire.

For those with their heads in the sand,.. their heads may be protected but their hind quarters still get blown away.

This just in,.. according to www.realtor.org the statements made by Forsalebyowner are false and that they have been asked to retract their statements. NAR further states that the only submission vehicle to Realtor.com is still through the cooperative IDX agreements between the local MLS's and Realtor.com

I suspect Forsalebyowner's next move will be to get YOU to take these listings on their behalf. This is still a possibility and there will always be those agents willing to accomodate for a price. Our board policy states that No contact information of any kind is allowed in remarks or on any portion that may be IDX'd out to the web.

The reason for this policy is to keep hard working agents in the loop and at the center of the transactions. I would suggest all of you call your MLS and see if you have similar verbiage in your rules and regs. For the agent who spends the money to be able to adjust his/her description on Realtor.com, this will of course be mute.

A wolf in sheeps clothing is still a wolf, and a FSBO dressed up as a Listed Property is still a FSBO.

NOV

2008

Please note that unlike the Title of this blog, FSBO.com and forsalebyowner.com are in no way related, and are in direct competition with each other.

The press release in question was on released by www.FSBO.com.

You are correct,... FSBO.com is not proposing the same thing as forsalebyowner.com. Any referance that I made to fsbo.com in my post was in error. Thank you for clearing that up. :-)

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