I had the occasion to speak with a marketing consultant the other afternoon from R dot com, selling me on all of the new features and the upgraded/updated site.
During the course of this conversation she wanted to know my thoughts and if I had any questions. Well, of course I had a question.
I wanted to know, why since Fractional Ownership has been around for about a decade now, that it has not been an available search feature for the consumer. You can search for Single Family, Condo/townhouse/co-op, Multi-Family, Manufactured/Mobile, Farm, Land and Rental. Yet you cannot perform a search for Fractional.
Her response was that while this has been an available type of ownership for the past 10 years, there just haven't been that many listings to warrant a search option for it.
Now, I'm sorry, but even only 1 listing should tell them that maybe they need to look into having it as a search option, especially when they were aware of this.
I told her to put herself in the shoes of the consumer, when told the property they are looking at at such a great price, is being sold as a Fractional Ownership and that price is for one of the available Fractions. How does that make us as Realtors look?
She went ahead and did some checking and stated that NAR has recently contacted them about getting Fractional's placed on the Advanced Search, since it is now becoming more widespread. She also said that there have been several comments recently made by other Realtors about this as well.
We are in a wait and see pattern as to what R dot com is going to do as well as how long it will take them to make a change. It's only been 10 years now, so what's another 10?