Posted by admin on December 5th, 2005
Connecticutt Realtors look to merge MLS system
There are currently 10 MLS systems in Connecticutt. That’s too many according to Jaerry Alaimo, broker owner of Century 21 Alaimo & Corrado in Enfield, CT. and president of the board of directors for the Connecticutt statewide MLS initiative.
Each of the current Multiple Listing Services serves the various geographic areas of Connecticutt with some overlapping boundaries. And, of course, each MLS employs staff and spends money on offices, equipment and utilities. There are implicit cost efficiencies that could be realized from a merger into one statewide MLS.
From the agent’s point of view, the plethora of MLSs pose a different problem. Each MLS has its own set of rules, fees, data standards, etc. that make life more complicated and expensive for a Realtor. A consolidation into one MLS would alleviate much of the problem.
To the consumer the benefits of large, state-wide or regional MLS are even more significant. Having a property advertised to Realtors and all of their buyers on an MLS throughout the state gives there homes added exposure and an accompanying possibly increased demand for their properties which could well provide a higher selling price.
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Posted by admin on November 29th, 2005
Longtime Realtor critic proposes a nationwide Multiple Listing Service
David Barry, a San Francisco lawyer who has engaged in numerous lawsuits against Realtor organizations over the past 25 years released a report Monday to the US Department of Justice (DOJ), in its study of Competition in Real Estate, proposing a National MLS system to replace the many local MLS systems run by Realtor organizations around the country. The 82 page report calls for, among other things, a national Multiple Listing Service to be created through federal legislation.
Barry’s contention is that the Realtor controlled local and regional MLSs now in place create an inherently unfair and biased marketplace for real estate property listings. According to Barry, "…the MLSs aren’t just near-monopolies, they are 100% monopolies. The MLS system is so complete, accurate, so fast, rich in detail, powerful, and cheap, it’s blown away every other real estate information source. In the markets we’ve studied, the Realtor associations can’t find a single active realty agent or appraiser who doesn’t use the MLS."
By requiring Realtor association membership for MLS access, the National Association of Realtors (NAR) has grown to become the largest trade organization in the world. Barry’s studies show that over a half a billion dollars have been forced from realty agents and appraisers by the MLS tie-in in the past 6 years.
Barry’s conclusion: "Organized real estate is beset with illegality. Despite spending over a trillion dollars a year on homes, consumers don’t get what they deserve. Agents are victimized by their trade association, the National Association of Realtors…DOJ should sue NAR for (named within report) violations and dissolve NAR. Half a century of price fixing and monopolization is enough."
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