Tag Archives: NAR

Some Thoughts on Move & NAR v. Zillow & Samuelson

JudgeDredd

The judge in the non-compete-disguised-as-a-trade-secrets case between Move & NAR v. Zillow & Errol Samuelson has issued a preliminary injunction that looks like a big win for REALTORS and REALTOR-lookalikes. Inman News has the story, and the actual order itself (PDF).

As a an interested bystander, the whole thing is sort of sad. Wish my friends would stop fighting and find ways to coexist. But hey, it’s easy for me to play John Lennon and Imagine a world like that. I’m certain it feels way different for the principals involved.

Some further thoughts and questions follow, as the order was heavily redacted. I assume the reason was to protect the very trade secrets that Move & NAR claim Zillow stole/attempting to steal from them. Nonetheless, there’s quite a lot in the order. We discuss them, after the jump.

[Disclosure: I have a business relationship with Trulia, who is obviously a competitor to both Move and Zillow.]

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NAR General Counsel Warns About Dangers of Failing to Syndicate

Katie Johnson

Katie Johnson, General Counsel of NAR

In case you haven’t seen this yet, Katie Johnson, the General Counsel of NAR, has written an article that comes as close to a formal legal opinion on dangers of failing to syndicate listings.

Well, actually, she warns about the practice of pre-marketing, also known as “Coming Soon” but the logic that she uses applies with full force to the practice of not syndicating listings to major portals.

The full article is here.

Since I’ve had fun with Sam DeBord’s Inman article in the past in which I draw parallels between “pocket listings” and syndication, I find the paragraph below super interesting:

For most sellers, getting the highest possible price on the best terms is their “best interest,” and maximizing exposure of their property to potential buyers advances that interest…. Restricting the marketing of a seller’s property to only small networks, private clubs, or even to national websites without also making it available to other area brokers and agents and their buyer-clients through the MLS results in the property not being exposed to the widest group of potential willing and able buyers, and may not provide the seller the best opportunity to attract offers at the highest price. [Emphasis added]

If we take for granted that best interest = highest possible price, and that highest possible price results from maximizing exposure… the above paragraph could be rewritten this way:

For most sellers, getting the highest possible price on the best terms is their “best interest,” and maximizing exposure of their property to potential buyers advances that interest…. Restricting the marketing of a seller’s property to only small networks, private clubs, or even to the MLS without also making it available to national websites with their tens of millions of buyer visitors results in the property not being exposed to the widest group of potential willing and able buyers, and may not provide the seller the best opportunity to attract offers at the highest price. [Emphasis added]

Yes, yes, I know — the MLS is different from national portals, because shut up. Just like how it’s a terrible evil when an agent can pay to be advertised next to a listing about which she knows nothing located in an area 30 miles away she has never worked, but if she pays an IDX vendor to setup a website on which she can put listings about which she knows nothing located in an area 30 miles away she has never worked, why, that’s completely different, because shut up.

But hey, Katie Johnson writes:

It’s important that sellers understand the implications of various ways of marketing the property so that they can knowingly determine the choice that best serves their interests.

Yeah. Well, let’s hope there aren’t any trial lawyers reading this blog who might become super interested in just how much a seller was briefed about the implications of not sending listings to some of the highest trafficked websites in real estate, and knowingly determined the choice that best served his interests.

As an industry, we could continue going down this path, of course, and we’re likely to do that, because… well.. masochism, I guess. Or we might ask why these pre-marketing tactics and private clubs and so on are happening and take a hard look at underlying causes.

Heh, I know. I know.

Parsing NAR’s Organizational Realignment PAG Report: Part 1

 

A reader sent me a copy of the official report from NAR’s Organizational Realignment Presidential Advisory Group, and asked for my thoughts on it. This particular document and associated initiatives have been generating quite a bit of conversation, as one might expect. I heard about the main points at the AEI Meetings in Baltimore, but not having the details, I didn’t want to comment.

Now that I have some of the details, I’m not sure I want to comment. :) It’s a big document, for a big strategic initiative that may change the world of Organized Real Estate forever. I’m still digesting parts of it. I have embedded it via Slideshare above for your reference.

Having said that, of course, offering opinions worth exactly what you paid for them is par for the course for this here blog. At a minimum, I could ask some questions. So, let me try to parse through some of this, in parts.

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Free Consulting to NAR and Move

leon-black

Why yes, I made $1.3 billion on Realogy… You want to do what now, NAR?

The Notorious B.O.B.’s series of posts on Move “giving back” REALTOR.com to NAR (one here, one on his blog) plus a Facebook conversation got me thinking. Which results in free consulting advice. Worth exactly what you paid for it, of course.

NAR should take Move private and buy it outright.

It eliminates a lot of problems, while of course, creating some new problems. Hey, that’s life. Let’s get into it.

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What L’Affaire d’Errol et Curt Means: Brief Thoughts

Errol-Curt.001

I’m really, really, really slammed with work so this won’t be as in-depth and searching as I’d like, but I do think it’s important to put down these semi-brief thoughts, so I can figure out what I think about what Zillow’s recent personnel moves means.

Let me not bury the lede. L’Affaire d’Errol et Curt means that Zillow has written off organized real estate as a significant player in the future of the real estate industry.

I have no special insights, haven’t spoken to anyone from Zillow, and I seriously doubt they would agree with such a strong conclusion. But that’s what my tea leaves are saying to me. Commence calling me crazy at your leisure.

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