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NAR Settles with Department of Justice! Who's Next?

By
Education & Training with Coldwell Banker Hubbell Briarwood

NAR broke news today on settling the case with the DOJ on IDX concerns and how listings from multiple listing services are displayed on brokers' virtual office Web sites.  Now we can get down to business without having to worry about that. Oh! you weren't worried? This validates NAR's long-standing Internet data exchange (IDX) policy and strengthens the membership rules governing multiple listing services. We are at a cross-road where to much information is being thrown around the Internet without certain guidelines to protect the Broker and sellers. In addition to this settlement, I can see where the bleeding of $$$$ will stop, until the next bright committee comes along with their idea on how NAR should govern itself. It appears we have done fine for 100 years now. Maybe their going to move on over to the mortgage end of things, what do you think?

"Expect the Best" Mike

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell 
Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 
888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
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Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

This is very good news for us. I was following some of this and the leeches that want a free ride had no shame in trying to get one from us

May 27, 2008 07:39 AM
Colorado Real Estate - Christina
Colorado Real Estate - Colorado Springs, CO

Interesting..Thanks for sharing! Appreciate the links as well! Have a productive rest of your week!

May 27, 2008 07:41 AM
Palm Coast Homes
100 Plus Realty LLC - Palm Coast, FL
Palm Coast/Flagler County Real Estate, The Ross/Co

Mike - Maybe someone can put out a post on the difference between VOW and IDX.  I am unclear on all this.  Who does this ruling help...what exactly do those words mean?

May 27, 2008 07:49 AM
Anonymous
Jack

I believe the intent of NAR is to replace IDX with VOW. In other words this will hurt a number of firms.

Jun 02, 2008 03:56 PM
#4
Jeff Thornton
Jeff Thornton ABR CRB CRS CSP e-Pro GRI - Lansing, MI
ABR CRB CRS CSP e-Pro GRI

VOW stands for Virtual office Website.  It is designed to act and give information to the consumer as if they were in your "Bricks & Mortar" office.  IDX is more of an advertisement of somebody else's listing and therefore the information is much more limited.  The VOW will have more information and the idea isjust like when they come into your officeyou personal information.  You would do the same on the VOW.  The consumer needs to register with a valid e-mail address

Jun 13, 2008 01:29 AM
Jeff Thornton
Jeff Thornton ABR CRB CRS CSP e-Pro GRI - Lansing, MI
ABR CRB CRS CSP e-Pro GRI

Mike

I wanted to thank you again for the hands on help with my AR blog.  You have demonstrated again your knowledge of E-Marketing

Jun 13, 2008 01:31 AM