NAR has released Realty Property Resource, a new service to corral all the data available on all commercial and residential properties in the US into one database “for the members”. You will fund the effort and your association and their partners will make some money selling accurate property valuations, school information, neighborhood demographic and psychographic (I don’t know either) information and forward looking market analysis.
It is free to all NAR members – that’s good isn’t it? It‘s essentially a national MLS without the co-broke information (which may not be needed if the co-broke goes away someday). So, anyone that has a number can get on the site and quickly crank out accurate MVA’s, CMA’s, Market Forecasts for any address in the country and pass them on to anyone that might want them for free!
If you doubt the valuation you will now have to defend your expert opinion vs all the science money can buy – good luck. Maybe it’ll be best to just hide behind the data.
It will help consumers greatly, but I am not sure that it helps the individual salespeople defend their value on the ground, face to face with a real breathing client when they are negotiating commissions. It’s tough to charge for services that are given away freely by others.
This seems the way things are going and resistance is futile (?). You do need to be aware and figure out how you will run your business in the face of this change. Anything given away for free has no value in a consumers mind. Do you think your peers will give away these services?
I don’t know, I am just asking…
Don
You would do well to know more about this. You could scan:
http://www.realtor.org/about_nar/realtors_property_resource
http://blogs.wsj.com/developments/2009/11/09/realtors-wary-of-zillow-build-their-own-data-tool/
http://www.futureofrealestatemarketing.com/nar-leaps-into-the-fray-in-a-big-way
or watch the NAR webcast (if you have an hour and a half).
http://webcast.streamlogics.com/audience/index.asp?eventid=35680788
