An Update On Realtor.com Being A Rip Off

By
Mortgage and Lending with Bank of England (NMLS#418481) NMLS# 1046286

 

 

 

 Still Smelling A Rat!

 

 Rat's smelling back

To those of you who missed my rant about Realtor.com and aren't interested enough to click on this link and go read it http://activerain.com/blogsview/69009/Is-Realtor-com-A, I posted an article the other day about my experience visiting Realtor.com.  As I pointed out in that post, I was EXTREMELY disappointed in what I found out.  What I found out basically being that the National Association of Realtors had farmed out our "official" website to a company called Move, Inc..  Who in turn was charging an arm and a leg to Realtors to utilize the website for anything other than the most minimal representation.

I checked on Move, Inc. and found out that they were making goo gobs of money, a gross profit of over 225 million dollars with a net profit of over 25 million dollars.  Not bad work if you can get it and that doesn't count anything that they were able to hide in the 214 million dollars in "Sales, General and Administrative" expenses that they had chalked up.

The comments to my post were almost exclusively negative about Realtor.com.  Most agreed with me that Realtor.com was too expensive and quite a few who had experience with Realtor.com said that it hadn't been very effective in generating business for them.  I myself chose not to buy the product as did about 90% of my fellow Realtors.  

As I mentioned in my post, I wrote an email to Dick Gaylord (President Elect of NAR) and to the current President of Nar (His name skips my mind at the moment - probably because he hasn't responded) and Mr. Gaylord got back to me today via email.  He told me that he had made a call and was looking into it.  I wrote him back and thanked him for this and again, he got back to me asking about my company.  I answered his questions and he basically wished me a good day.  So, here I am.  No further along that I was the other day.

My gut level is that NAR is making money from Move, Inc. so they don't care that we as members are getting shanked.  Maybe Mr. Gaylord will indeed check into this and maybe address the issue.  Personally, I don't think so.  That is unless we keep up the pressure.  Realtor.com could be a very useful tool for both the consuming public and for Realtors.  In order for this to happen, we've got to let them know, "We're as Mad as Hell and we're not going to take it anymore!"  Or something to that effect!  ;-)  

Write Mr. Gaylord at dickgaylord@earthlink.net .  If only a few of us do it, at least he'll know.  But if  bunch of us do it, then they'll have to face the fact that our own organization is screwing us!

R.B. "Bob" Mitchell

ValueList Real Estate Services, Inc. 

 

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R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham

Bob Mitchell (NMLS#1046286)
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