NAR / Move Vote
As a result of today’s vote, the RIN board approved amending the operating agreement with RealSelect in three fundamental ways:
- Amending the restriction that says Move may display only listings that have been sourced from REALTOR®-owned and controlled MLSs or from REALTORS®. Under the revised agreement, Move will be able to obtain listings from entities that are not REALTOR®- owned and controlled and from brokers who are not REALTORS®.
- Amending the restriction on unlisted properties. The revised agreement will allow the display of unlisted new homes and new home communities and will allow the display of unlisted properties that are for rent. Individual consumer FSBOs remain precluded from the site.
- Amending the requirement for listing broker’s consent for the foreclosure status of a listing to be displayed. Under the revised agreement, unless the listing broker objects, Move/RealSelect will have the ability to identify:
- Properties where notice of default has been recorded
- Auctions of distressed properties
- Short sales
- Foreclosures
- Bank-owned properties
Definitely a step in the right direction — yet precluding FSBO’s is kind of stupid if you ask me. Why not go all the way and really let Move compete on all fronts?
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Sam DeBord, SeattleHome.com
Posted at 07:18h, 29 JulyAllowing builders to display unlisted new homes and new home communities has been called by some “FSBOs under a different name”.
The entire move is clearly to benefit Realtor.com’s content and web traffic, with the intention of allowing more Realtor branding to a wider audience. Good move in my opinion. Allowing regular FSBOs, whether or not it’s good for traffic, would have brought out the torches and pitchforks from Realtors. Just not going to happen.
Drew Meyers
Posted at 07:51h, 29 July“Allowing regular FSBOs, whether or not it’s good for traffic, would have brought out the torches and pitchforks from Realtors. Just not going to happen.”
Exactly my point. It scares them that buyers have an alternative option. Buyers know this though, and if they don’t put them on their site, they will just go elsewhere (Zillow) where they can find those properties. This is just one of many reasons why they are still doomed.
Sam DeBord, SeattleHome.com
Posted at 08:29h, 29 JulyI’d say doomed is a bit overstated, but they’re certainly constricted in that way. You could easily say R’s lack of FSBOs is matched by Z or T’s lack of new listings or outdated listings. They all have their downsides. FSBOs are a big plus for certain consumers, and a non-factor for others. But yes, FSBOs create more unique content and drive traffic.
At the end of the day, R deals with its Realtor-created constrictions and receives far more direct MLS feeds than other portals. It’s definitely a tradeoff.