Comments on: The Empire Strikes Back http://3oceansrealestate.com/blog/the-empire-strikes-back.html Commentary on the real estate market of the San Francisco Bay Area Sat, 13 Mar 2010 18:45:15 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Kevin Boer ~ return of the Jedi at Real Estate Logic http://3oceansrealestate.com/blog/the-empire-strikes-back.html/comment-page-1#comment-52345 Kevin Boer ~ return of the Jedi at Real Estate Logic Mon, 21 May 2007 16:04:06 +0000 http://3oceansrealestate.com/blog/the-empire-strikes-back.html#comment-52345 [...] Kevin over at 3 Oceans has posted another great article regarding the real estate business as usual model vs. high tech information. There is no doubt that the business as usual WILL lose. And we will all be better off. If your a consumer, buyer, seller or agent click on over and read his full post “The Empire Strikes Back” [...] [...] Kevin over at 3 Oceans has posted another great article regarding the real estate business as usual model vs. high tech information. There is no doubt that the business as usual WILL lose. And we will all be better off. If your a consumer, buyer, seller or agent click on over and read his full post “The Empire Strikes Back” [...]

]]> By: Tony May http://3oceansrealestate.com/blog/the-empire-strikes-back.html/comment-page-1#comment-52120 Tony May Mon, 21 May 2007 02:28:57 +0000 http://3oceansrealestate.com/blog/the-empire-strikes-back.html#comment-52120 Well, it's one thing to run a business model like theirs - but to call-out the industry on national TV is simply going to get you in trouble. Doesn't matter what industry you do that in. There are cigar-chomping "good 'ol boys" in every single industry. There are certain things in each industry - specifically referencing real estate here - that the big players will let slide even if it (technically) violates a legitimate rule. Generally speaking, it's a "no harm, no foul" approach to doing business. Does a Rule 190 violation generally hurt anyone? Nope. It gets a listing more exposure. Go on national TV and blab about what you're doing...and a small Rule 190 violation is gonna get you. Remember, Al Capone wasn't busted on murder charges - it was tax evasion. Well, it’s one thing to run a business model like theirs – but to call-out the industry on national TV is simply going to get you in trouble. Doesn’t matter what industry you do that in. There are cigar-chomping “good ‘ol boys” in every single industry.

There are certain things in each industry – specifically referencing real estate here – that the big players will let slide even if it (technically) violates a legitimate rule. Generally speaking, it’s a “no harm, no foul” approach to doing business. Does a Rule 190 violation generally hurt anyone? Nope. It gets a listing more exposure.

Go on national TV and blab about what you’re doing…and a small Rule 190 violation is gonna get you. Remember, Al Capone wasn’t busted on murder charges – it was tax evasion.

]]> By: RE Agent in CT » Sweet Digs, Sour Grapes and Compost. http://3oceansrealestate.com/blog/the-empire-strikes-back.html/comment-page-1#comment-51440 RE Agent in CT » Sweet Digs, Sour Grapes and Compost. Sat, 19 May 2007 00:08:52 +0000 http://3oceansrealestate.com/blog/the-empire-strikes-back.html#comment-51440 [...] It was always going to happen. Greg, Kevin  and Inman have covered it well enough, so I’ll skip the rehash. [...] [...] It was always going to happen. Greg, Kevin  and Inman have covered it well enough, so I’ll skip the rehash. [...]

]]> By: RE Agent in CT » Sweet Digs, Sour Grapes and Compost. http://3oceansrealestate.com/blog/the-empire-strikes-back.html/comment-page-1#comment-51441 RE Agent in CT » Sweet Digs, Sour Grapes and Compost. Sat, 19 May 2007 00:08:52 +0000 http://3oceansrealestate.com/blog/the-empire-strikes-back.html#comment-51441 [...] It was always going to happen. Greg, Kevin  and Inman have covered it well enough, so I’ll skip the rehash. [...] [...] It was always going to happen. Greg, Kevin  and Inman have covered it well enough, so I’ll skip the rehash. [...]

]]> By: Sinster Sock Puppet http://3oceansrealestate.com/blog/the-empire-strikes-back.html/comment-page-1#comment-51429 Sinster Sock Puppet Fri, 18 May 2007 23:33:13 +0000 http://3oceansrealestate.com/blog/the-empire-strikes-back.html#comment-51429 Actually Kevin you reviewed one of my properties a couple months back. The listing expired and another agent got it. The good news is that one of your readers called me about it because they googled the address and I managed to work the buyside plus we hammered the seller on price! Thanks Kevin! -Athol (okay a little evil I know, but you get the point) Actually Kevin you reviewed one of my properties a couple months back. The listing expired and another agent got it. The good news is that one of your readers called me about it because they googled the address and I managed to work the buyside plus we hammered the seller on price!

Thanks Kevin!

-Athol (okay a little evil I know, but you get the point)

]]> By: Real Central VA - Tracking the Charlottesville and Central VA real estate market and more » What are the limits of the MLS? http://3oceansrealestate.com/blog/the-empire-strikes-back.html/comment-page-1#comment-51314 Real Central VA - Tracking the Charlottesville and Central VA real estate market and more » What are the limits of the MLS? Fri, 18 May 2007 18:30:23 +0000 http://3oceansrealestate.com/blog/the-empire-strikes-back.html#comment-51314 [...] Kevin has even more here. The more Realtors hold fast to their archaic practices, the more it will appear that they are tilting at windmills from times past.  [...] [...] Kevin has even more here. The more Realtors hold fast to their archaic practices, the more it will appear that they are tilting at windmills from times past.  [...]

]]> By: Al Iance http://3oceansrealestate.com/blog/the-empire-strikes-back.html/comment-page-1#comment-51280 Al Iance Fri, 18 May 2007 16:09:17 +0000 http://3oceansrealestate.com/blog/the-empire-strikes-back.html#comment-51280 Rule 190. Order 66. Empire, indeed. :-/ Rule 190. Order 66. Empire, indeed. :-/

]]> By: Redfin Fined 50 Large (Seattle) at Condo Blog http://3oceansrealestate.com/blog/the-empire-strikes-back.html/comment-page-1#comment-51186 Redfin Fined 50 Large (Seattle) at Condo Blog Fri, 18 May 2007 12:45:27 +0000 http://3oceansrealestate.com/blog/the-empire-strikes-back.html#comment-51186 [...] TransparentRE, 3Oceans and I am sure many more today - try a Google Blog Search for Redfin. Permalink   by Anthony Longo   May 18th, 2007 in Condo News, Real Estate &Technology. [...] [...] TransparentRE, 3Oceans and I am sure many more today – try a Google Blog Search for Redfin. Permalink   by Anthony Longo   May 18th, 2007 in Condo News, Real Estate &Technology. [...]

]]> By: Glenn Kelman http://3oceansrealestate.com/blog/the-empire-strikes-back.html/comment-page-1#comment-51174 Glenn Kelman Fri, 18 May 2007 12:18:06 +0000 http://3oceansrealestate.com/blog/the-empire-strikes-back.html#comment-51174 Hey Kevin, Nice post, as always. You took the title for the blog post we were going to write. As for the cigar-chomping folks at the NWMLS, this really wasn't a reaction to the "60 Minutes" piece, as they had been on our case for a year and things had come to a head a week or so ago... Hey Kevin,
Nice post, as always. You took the title for the blog post we were going to write. As for the cigar-chomping folks at the NWMLS, this really wasn’t a reaction to the “60 Minutes” piece, as they had been on our case for a year and things had come to a head a week or so ago…

]]> By: Ben K http://3oceansrealestate.com/blog/the-empire-strikes-back.html/comment-page-1#comment-51047 Ben K Fri, 18 May 2007 07:21:32 +0000 http://3oceansrealestate.com/blog/the-empire-strikes-back.html#comment-51047 Rule 190 is very contentious up here. Many, many agents violate Rule 190. Some get caught and pay thousands of dollars in fines, as much as $7,500 for a single agent, so $50K for a brokerage isn't necessarily out of whack. Every month Rule 190 violations/fines are mentioned in the MLS disciplinary report, though most agents get away with it. This isn't about Redfin...it's about the widespread violation of Rule 190. Look at Craigslist. A very high percentage of listings are posted by buyers agents looking to lure a buyer, not by the listing agent. But, Redfin being Redfin, gets the PI to report about it. They're not the only one who got caught (e.g. singled out), they just get press coverage. FYI - NWMLS is broker owned, not Realtor owned. Rule 190 is very contentious up here. Many, many agents violate Rule 190. Some get caught and pay thousands of dollars in fines, as much as $7,500 for a single agent, so $50K for a brokerage isn’t necessarily out of whack.

Every month Rule 190 violations/fines are mentioned in the MLS disciplinary report, though most agents get away with it. This isn’t about Redfin…it’s about the widespread violation of Rule 190. Look at Craigslist. A very high percentage of listings are posted by buyers agents looking to lure a buyer, not by the listing agent.

But, Redfin being Redfin, gets the PI to report about it. They’re not the only one who got caught (e.g. singled out), they just get press coverage.

FYI – NWMLS is broker owned, not Realtor owned.

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