At the Inman Realty Connect Conference in NY this week, Bradley Inman revealed his Top 10 list for the Road to Recovery to begin. Some are on target, some are off-base, and some are insane. Tell me what YOU think:
1. Overhaul the commission compensation model (find new ways to pay real estate agents besides a % of sales price)
2. Regulate the types of mortgages available (outlaw certain types of mortgages)
3. Find more efficient real estate transaction model (too many parties getting paid in the transaction)
4. Consolidate all MLS systems into one National MLS and get rid of Exclusive Right to Sell listing agreements
5. Have tougher regulations for real estate licenses and mortgage broker licenses. (Have a National real estate licensing standard with states able to add more stringent criteria if they want.)
6. Provide buyers and sellers with better "micro data" about their transactions and properties so they can quantify their risks
7. reform the secondary mortgage market and securitization - have the originator retain some of the risk of the loan longer
8. reduce settlement services costs: develop or discover low cost title insurance policies
9. outlaw bundling of affiliated services unless in results in consumer savings
10. remove all barriers to all new business models
Wow. Some good, some bad, some weird and completely wrong.
Talk to me. Tell me what you think.