In the recent years since the dawn of man, Real Estate property has been one of the utmost concerns of living beings. Even animals compete for Real Estate and man has developed a ways of Real Estate ownership. In spite of numerous wars and lawsuits over the 5000 year history over Real Estate ownership, technology and economics have made it into a powerful business industry. In the USA in the last 10 years the online Multiple Listing Service (MLS) have provided Real Estate professionals the most powerful tool ever created since the title. The MLS removes the need for the 6 degrees theory where someone needs to know somebody who needs to know somebody who knows somebody to make buyers and sellers meet each other. The MLS has been such a huge success to Realtors in the USA that other counties have tried to emulate the concept the past few years but it never seemed to have enough funding or internet reach to achieve the success that it had in the states. Recently the US has another innovation in the MLS; its called an MLS only listing. MLS rules requires that only licensed REALTORS have access to place listings in the MLS a lot of Realtors allowed sellers to place their home in the MLS for a Flat fee and no listing commission This is a pure list only service, using giving any seller the marketing reach of the MLS while allowing them to save on listing commissions. This irked a lot of realtors since the reduced service pertains to a lot of reduced professionalism in the industry. A lot of states seem to agree as they have implemented a minimum service law preventing the MLS only listing service concept from being served as is. Flat Fee MLS only service not only removes the professional in selling the home on one side of the table it also it gives more work for the buyers agent. But the question is. Does everyone really need to have a full service listing agent? It may be true that a lot of sellers are amateurs and require their services. Then if they can afford to pay the extra 2-3% for the seller side, then its not a problem. But how about investors, developers, retired agents, people who sold properties before and banks that already know what they are doing. Is it necessary to have a Realtor on their end when they sell dozens of properties a month as their profession? A lot of Flat Fee MLS clients are Realtors themselves who let another Realtor list their property in adjacent MLS boards where they are not members. Is there really a natural competition between the 2 services? Or is it a just a whole new innovation to the time tested Real Estate Wheel. People get what they pay for, more often than not. If they are aware of what they are buying, they will always make the right choice. |
