National Association of Realtors Faces Competition From New Group
“Mr. Umansky said that AREA will offer its members a nationwide database of home listings as an alternative, built from the technology he acquired for his own private listings service. That platform, which they’re calling the National Listing Service, is currently live with limited listings at theNLS.com.
“A centralized database with access to the full scope of listings across the country is better for everyone in the industry, and someone just had to do it,” Mr. Umansky said.
Debra Kamin, New York Times
A good question I would ask the two luxury real estate agents/brokers launching this new endeavor is this: “Will this new entity follow (or match) the Clear Cooperation Policy (CCP) guidelines?”
That would be a good tell.
The clear cooperation policy has been found to be a per se anti-trust violation. Of course it will NOT be followed.
I would guess they will not follow clear cooperation. I’m interested how they are going to roll up a national database without the help of mlss
This seems to be a lightweight portal concept that has nothing to do with organized real estate or any conceptual industry wide trade association. It’s a solution that’s looking for a problem. They’ll raise whatever they raise from people that don’t understand the business (because those that do won’t invest) and then go quietly into that good night when it fails to gain traction. Thesyre not even clear on what they are. It isn’t competition for NAR, it’s more a competitor to the roofer Public Portal without the support that organization has.
I have no idea why Broker was spell corrected to Roofer…
Well, given the Times reported, “In addition, AREA will allow agents to set their own commission rates and will not require any cooperation between buyer and seller agents,” and that Umansky is suing NAR over the CCP, I’d bet large sums that no, they won’t be following the CCP.
I can think of a lot of legacy MLS weaknesses that someone new could take on. It would not be easy to replace MLS’es, but I think it’s reasonable that a new approach could be very competitive.