Comments on: Is the Future of Real Estate in Google’s Algorithm? http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/ real estate business models in the consumer-centric era Wed, 20 Aug 2008 16:34:54 +0000 http://wordpress.org/?v=2.6 By: Gladstone Nicholson http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/#comment-21814 Gladstone Nicholson Fri, 02 May 2008 15:03:57 +0000 http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/#comment-21814 I certainly agree that real estate professionals need to change how we conduct our business. Surely, the commission has always been a thorn for most consumers; but now, the Internet (whether it be Google or some other engines or websites) has given the consumer great leverage by the information the I-net provides. The National Association of Realtors (NAR), as great as its been, will have to be seen as more than just a shill for its members. Yes, NAR strongly and outspokenly supports property rights but it must do more for its members. ARPAC will continue to help elect candidates who espouse the pre-eminence of property rights but the public (increasingly international) must be convinced that NAR sees just as great a mission as educating and protecting the public. The terms "Buyer Beware" and "Law of Agency" seem mutually exclusive especially when a real estate transaction goes awry. In other words, what is the public buying when they sign an exclusive brokerage agreement? I would think it's more than the ubiquitous disclaimers most, if not all, real estate contracts contain. In other words, I don't think we need to change our algorithm as much as we need to work to change much of the public's perception of our profession. In the old "who would you save" bromide, saving the real estate agent should be right after saving my family. Can we as a business reach this ideal? I certainly agree that real estate professionals need to change how we conduct our business. Surely, the commission has always been a thorn for most consumers; but now, the Internet (whether it be Google or some other engines or websites) has given the consumer great leverage by the information the I-net provides.

The National Association of Realtors (NAR), as great as its been, will have to be seen as more than just a shill for its members. Yes, NAR strongly and outspokenly supports property rights but it must do more for its members.

ARPAC will continue to help elect candidates who espouse the pre-eminence of property rights but the public (increasingly international) must be convinced that NAR sees just as great a mission as educating and protecting the public. The terms “Buyer Beware” and “Law of Agency” seem mutually exclusive especially when a real estate transaction goes awry. In other words, what is the public buying when they sign an exclusive brokerage agreement? I would think it’s more than the ubiquitous disclaimers most, if not all, real estate contracts contain.

In other words, I don’t think we need to change our algorithm as much as we need to work to change much of the public’s perception of our profession. In the old “who would you save” bromide, saving the real estate agent should be right after saving my family. Can we as a business reach this ideal?

]]> By: John http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/#comment-21682 John Wed, 30 Apr 2008 16:57:13 +0000 http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/#comment-21682 Stefan, did you see Google's last quarters results? Pretty impressive. Google is one migthy powerful company. Stefan, did you see Google’s last quarters results? Pretty impressive. Google is one migthy powerful company.

]]> By: John http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/#comment-19423 John Wed, 16 Apr 2008 16:20:19 +0000 http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/#comment-19423 As always...Interesting, Outside the box and Thought provoking. Thanks Stefan for keeping the real estate industry thinking ahead. As always…Interesting, Outside the box and Thought provoking. Thanks Stefan for keeping the real estate industry thinking ahead.

]]> By: John L. Puff, GRI, CRS http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/#comment-18861 John L. Puff, GRI, CRS Mon, 14 Apr 2008 23:27:31 +0000 http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/#comment-18861 While I am aware that a large % of buyer's and sellers turn to Google to begin their real estate search, I feel that to turn the largest single asset that most people are buying or selling over to a nameless, faceless entity, is not the right thing to do. One does not know, with whom they are dealing and let's face it.....all of us, who know at least ten people, know at least 3 people in the real estate business. Perhaps the best place to start is there. Secondly, you need to be sure you are dealing with a REALTOR, not just anyone, who has a license. What is the difference? A REALTOR is a license agent, who is a member of the National Association of REALTORS and pledges to abide by a strict code of ethics. Does this mean that all non-REALTORS are dishonest and all REALTORS are the creme de le creme? No! But if you put 100 REALTORS in a barrel and 100 non-REALTORS in a barrel and reach in and pulled out an agent from each, the odds are the agent from the REALTOR barrel would be more ethical and more knowledgeable than the one pulled from the non-REALTOR barrel. The National REALTOR Association is one of the few associations that dedicates their resources to protecting your private property rights. Don't gamble with the most valuable or one of the most valuable assets you own. While I am aware that a large % of buyer’s and sellers turn to Google to begin their real estate search, I feel that to turn the largest single asset that most people are buying or selling over to a nameless, faceless entity, is not the right thing to do. One does not know, with whom they are dealing and let’s face it…..all of us, who know at least ten people, know at least 3 people in the real estate business. Perhaps the best place to start is there. Secondly, you need to be sure you are dealing with a REALTOR, not just anyone, who has a license. What is the difference? A REALTOR is a license agent, who is a member of the National Association of REALTORS and pledges to abide by a strict code of ethics. Does this mean that all non-REALTORS are dishonest and all REALTORS are the creme de le creme? No! But if you put 100 REALTORS in a barrel and 100 non-REALTORS in a barrel and reach in and pulled out an agent from each, the odds are the agent from the REALTOR barrel would be more ethical and more knowledgeable than the one pulled from the non-REALTOR barrel. The National REALTOR Association is one of the few associations that dedicates their resources to protecting your private property rights. Don’t gamble with the most valuable or one of the most valuable assets you own.

]]> By: REALonomics http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/#comment-18709 REALonomics Mon, 14 Apr 2008 02:35:31 +0000 http://realonomics.net/2008/04/is-the-future-of-real-estate-in-google%e2%80%99s-algorithm/#comment-18709 Your statement "...real estate is at the very center of the American way of life..." is precisely why the industry can not, will not and is not being ignored by those outside our industry. MSN, Yahoo and Google aren't really interested in partnerships with the real estate industry. They are, however, interested in developing a relationship with the consumer in order to stake a claim to the billions of dollars connected with property transactions. We should be inventing our own algorithm...soon. Your statement “…real estate is at the very center of the American way of life…” is precisely why the industry can not, will not and is not being ignored by those outside our industry. MSN, Yahoo and Google aren’t really interested in partnerships with the real estate industry. They are, however, interested in developing a relationship with the consumer in order to stake a claim to the billions of dollars connected with property transactions. We should be inventing our own algorithm…soon.

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