DOJ sets sights on more MLS boards

As the DOJ case against NAR enters into a critical path this summer, the DOJ is starting to take aim at other players in the MLS game. This is only the beginning and it is very apparent to many, that NAR’s iron fisted rule on the MLS will not come out of this unscathed.

Having interacted with over a hundred of the top MLS’s through the United States I can say from my perspective, that this is going to be welcomed with open arms for those wanting to open this up to the masses and to help create a free and unfettered access to this data. The way it has been controlled has got to change. The times and the technologies brought to bear in today’s digital world that we live in are also changing and this is another one of those changes that is coming soon to an MLS Board near you.

Barry Cunnigham over at the Blood Hound Blog wrote a great post on the latest foray into this battle The War Against The MLS Continues | The MLS Must Fall!.

It is worth reading and before you comment, you should arm yourself with the knowledge of actually reading the content of the complaints as filed by the DOJ (links are in the posts – his and mine). Also, be sure to check out the article I wrote back in February 2007 that goes into more background and details on this. MLS Data compliance and NAR vs. DOJ

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MLS Data compliance and NAR vs. DOJ

New Technology and Real Estate Agents

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Why we should embrace change

I actually found this video while looking at the 1000 Watt Blog as I was waiting on hold for customer support for over an hour for something that has in my mind been broken. You may notice that I have not been posting on as regular a basis as I had anticipated for the New Year, This is due in large part to my hosting service company having major technical issues that they cannot seem to get resolved. Anyways less I digress here, the relation to Real Estate is really very apropos.

As Marc Davison comments on his Blog ? Why not fix what isn’t broken? Would that not be a great way to gain advantage over the masses embracing complacency? ?

Take a look at the Video below:

OK, I am experiencing technical difficulties at the moment that prevent me from directly posting the video (embedding) so I have to post the link instead. After you view the video please continue with the rest of the post

http://www.youtube.com/watch?v=AAtkoje4-eM

Now that you have seen this?most people look at this and ?say ,wow what a neat idea!

Newspaper ads for listings a dying breed

New Report by media experts Borrell Associates Inc.forecast the demise of newspaper advertising as one of the staples for Real Estate listings.

“Real estate brokers and agents will continue to devote more marketing budgets to online media. This year they will spend $2.6 billion on online media and by 2012 online will topple newspapers share“.

This is indeed interesting and backs- up what many of us in the NEW Media segment have been preaching to the old guard. There is a change in the wind and it is happening much sooner and faster than Real Estate Agents and Brokers will be happy with.

I have posted several articles over the last few weeks discussing the merits or the lack thereof, pertaining to Web 2.0 adoption by the Real Estate industry as a whole, and in particular how NAR has responded at their recent convention in Vegas. (NAR members with Ostrich syndrome on Web 2.0 ) (National Association of Realtors details 10 Year Plan)

Many in the Real Estate industry still fight this notion as one recent commenter said, “The Internet is a a powerful tool as we all know, but I don?t think we can completely discount the amount of buyers that search the newspapers still these days. The paper in my market has an excellent real estate section every Sunday. I generate a lot of calls from classified ads so I know they are still reading. You have to keep things diversified.”

While this may be true today, the statistics show a rapidly declining market for newspapers and an incremental rise in-online advertising. As the Baby Boom generation completes their last home purchases, the next generation, X, Y and ?? will be accustomed to using the Internet.

Borrell’s report also forecasts; that online advertising revenue will grow by 12.4 % in 2008 and print ad spending will continue to decline at an accelerated pace. The print advertising medium is expected to shrink by as much as 16% in 2009 increasing to 13% in 2010. Online real estate advertising will have surpassed print by 2011.

The writing is on the wall and as Zillow makes agreements with Newspaper companies for add sharing revenue it is apparent they know this too is coming.

So if you are one of the ones still sitting on the fence and wondering why you should even bother with taking your advertising online, or investing the time to learn about blogs ? I think this is your call. If this pans out, that means that you would have about 3 years to get up to speed. Meantime the early adopters will be taking valuable market share that you knowingly gave away.

Technology can be daunting, but their is a lot of help in the market with more on the horizon. If you approach the inevitable change with openness and embrace it, you will find yourself much better able to handle the questions you will surely get from prospective clients inquiring about your approach to media advertising and your online presence.

I think the days are fast approaching when simply being an expert in your area of the Real Estate community is not enough. You also have to know how to market yourself and your expertise in the new medium. Not because I or any other media pundit says you should. The real drivers for adoption will be your customers, who will demand it.

Related Posts:

Are Florida Realtors up for the challenging time ahead ?

National Association of Realtors details 10 Year Plan

Zillow Newspaper advertising alliance – So What ?

NAR members with Ostrich syndrome on Web 2.0