FROM THE TWILIGHT ZONE THAT IS REALTOR.COM - or Move, Inc.

By
Real Estate Agent with Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate 303829;0225082372

Realtor.com has a new look.  Looks fine.  Clean, crisp, easy to read.  I didn't stay long because something from the Inman article today got my attention. 

. . . . .  Realtor.com's "What's Your Home Worth" tool provides a wider range that's based on sales in the last 18 months.

For years, we've had to overcome the innacurate property valuation models used by Zillow.  Now we'll have to overcome useless and innacurate property valuations from Realtor.com. 

As ActiveRainers may or may not know, Realtor.com is operated by Move, Inc.  That same Move engaged in litigation with ActiveRain.  Seems that Move made a move on ActiveRain with an offer to purchase our beloved ActiveRain Real Estate Network.  Then, once Move had obtained a bucket full of trade secrets and proprietary information, reneged and withdrew from the acquisition only hours prior to closing.  That's my recollection.  See ActiveRain vs. Move, Inc.

Good luck Real Estate Agents and Brokers.  Our job just got a lot harder. 

 

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-Mail.

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Topic:
ActiveRain Community
Groups:
Club Chaos
Realtors®
The Ninety-ninth Percentile
Tags:
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Comments 74 New Comment

Show All Comments
Rainer
112,847
Ryan Martin
Bellingham Commercial RE Broker
Windermere Real Estate / Whatcom Inc.

Lenn ~ Interesting. I have never been a supporter of R.com. I remember the AR/Move.com deal when it went sour. That sounds pretty dirty to peel confidential information out of deal gone south. Thanks for keep us informed Lenn ;)

October 29, 2008 11:14 AM
Ambassador
1,028,438
Celeste "SALLY" Cheeseman
RA, CRS, Hawaii Mililani Oahu Real Estate
Century 21 Liberty Homes

If anything....realtor.com should know that all markets differ....it's LOCAL .....

Wouldn't you think that valuator would know that?

October 29, 2008 02:21 PM
Rainer
226,839
Ryan Shaughnessy
Broker/Attorney - Your Lafayette Square Real Estate Partner
PREA Signature Realty - www.preasignaturerealty.com

Got voicemail message - "Call me back.  Your listings on realtor.com will change drastically next week."  Called my local MLS and local Realtor Association and they knew nothing about it.  I returned call and got the sales pitch.  Then I get almost identical voicemail message from another sales rep.  So, I don't return call because I know it is just another annoying sales pitch, which I have already declined.  So sales rep calls the property owner directly and says "Did your broker tell you tha the listings on realtor.com have changed..."  Owner has full head of steam - thinking that our MLS listings will no longer be on realtor.com.  I explained that it was just a sales pitch.  So I call move.com directly and ask to speak to the sales rep who called my customer.  They don't know him, can't find him, and tell me that no one has logged into my account on their system.  Well, of course someone did - because they left your number.  No - I can't say that I care for their pricing, their privacy policy regarding using my account info for marketing, or their sales tactics.  If they got such a good deal, get the info to the MLS and local Associations.  Don't pitch it to me or directly to my customer.

October 29, 2008 02:38 PM
Ambassador
2,342,413
Lenn Harley
Real Estate Broker - Virginia & Maryland
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate

Jeremy.  I keep trying too.

Ryan.  Your opinion mirrors a lot of REALTORS.

Sally.  They, like Zillow, believe that the human agent has no value except to install or open the keybox.

Ryan.  Sad.  That is a case for not having owners' number in the listings.  Some of our counties have that procedure.  It's a pain because making appointments is a pain.  In the highest priced counties in my area, Montgomery in MD and Fairfax in VA, the agent calls the owner and if there is no answer, leaves a message and shows the house.

 

 

 

October 29, 2008 02:48 PM
Rainmaker
136,925
Alexsandra Stewart
Broker - Portland Oregon Real Estate
Remax equity group

This has been an interesting thread to read. I've never paid for the listings on Realtor.com -sounds like that was a smart move.  The whole valuation thing is what's alarming.  18 months is ridiculous.  I agree I'd rather search wider than longer. And while I always check Zillow before going on a listing apt, I do it to be prepared for what the client may say!

October 29, 2008 05:47 PM
Rainmaker
1,195,071
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Put 40 years of experience to work for you
Lyon Real Estate

Trade associations are a different animal than, say, a nonprofit association. And it's reflected in what they do. Many are nothing more than a smoke screen for political lobbyists. I find it very surprising that so many real estate agents seem to believe that NAR represents them.

elizabeth weintraub sacramento real estate agent in land park

October 29, 2008 09:33 PM
Rainmaker
83,632
Terri Visser
CRS - 12 Years Selling Central Oregon Real Estate
Desert Sky Real Estate, LLC

Well great, now isn't that just what we needed!  You would expect Realtor.com to take the realtor factor a little more seriously.

October 29, 2008 10:07 PM
Rainmaker
175,248
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision

Lenn,

I can't disagree with you, because I believe the same..but there has to be some kind of protestation from the body of 1.8 Million REALTORS for things to change.  I just read in C.A.R's newest internet study that there was an increase in the number of real estate agents who purchased enhanced listing feature from REALTOR.com.

Not a strong opposition for REALTOR.com's moves.  In my mind, REALTOR.com only has 2 things that still drives their company since they don't seem to innovate for the REALTOR's benefit.....Listings and the REALTOR domain.  Both are broker and agent owned truly, no?

October 29, 2008 11:33 PM
Ambassador
2,342,413
Lenn Harley
Real Estate Broker - Virginia & Maryland
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate

Rebecca.  I believe that you overestimated the number of REALTORS.  No matter.  It's a lot of folk.  Of course our listings drive the Realtor.com web site traffic.  What would they be without them???  Realtor.com the domain is owned by the NAR but it's licensed to Move, Inc.  We have little to nothing to say about anything, anywhere, anytime.

Terri.  You dreamer you.

Elizabeth.  Too many of us read the mission statement.  What are we thinking????

Alexsandra.  18 months is downright irresponsible.  Geez.  On a national basis, the average market value has lost about 20% in 18 months. 

 

October 30, 2008 05:01 AM
Rainer
81,033
Katie Evans
Keller Williams

Lenn:  Thanks for this information!  That is very interesting.  Always love reading your blogs. 

October 30, 2008 11:20 AM
Rainmaker
225,023
Gene Wunderlich
Realtor & Legislative Liaison
1st Action Real Estate

The Realtor.com tail always seems to be wagging the NAR dog. NAR is so high on the current leader of Realtor.com they're not about to question him on anything - much like the first chair who was the golden child until he got caught. Realtor.com always claims whatever they're doing is in the best interest of Realtors but rarely is - unless you pay through the wazoo to get your own leads back. It'll be interesting to see if any of this comes up next week in Orlando.

October 30, 2008 12:55 PM
Ambassador
2,342,413
Lenn Harley
Real Estate Broker - Virginia & Maryland
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate

Gene.  Good question.  You should go to Orlando, ask the question and get back to us with the answer. 

Katie.  Thanks very much.  I appreciate readers.

October 30, 2008 02:19 PM
Rainmaker
390,932
Elizabeth Cooper-Golden
Huntsville AL MLS
Huntsville Alabama Real Estate, (@ Homes Realty Group)

And THAT, my dear Lenn, is why I WON"T upgrade with Realtor.com any longer. What a bunch of hooey.  So much for our money working for us.  What a laugh.  Stinks, if you ask me.  Now consumers will have more than one place to gather misinformation...zillow AND Realtor.com.  Brilliant.

October 30, 2008 08:16 PM
Ambassador
1,849,870
Nestor & Katerina Gasset
Realtors, Wellington Florida Homes For Sale
International Properties and Investments LLC

Lenn- I can not stand Realtor.com. We quit all the money we were flushing down their toilet years ago, did not effect our business one little bit! I agree with Gene's comment.

October 30, 2008 08:21 PM
Ambassador
2,342,413
Lenn Harley
Real Estate Broker - Virginia & Maryland
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate

Elizabeth.  No matter.  I believe the money they collect from REALTORS is their lunch money.  They just use us to sell advertising.

Katerina.  Smart move.  I hope some of the REALTORS in Orlando do ask this question.

 

October 31, 2008 04:42 AM
Ambassador
1,227,260
Erica Ramus
MRE, Schuylkill County PA Real Estate
Erica Ramus - Ramus Realty Group - Pottsville, PA

I am stuck in the last part of a 2 year contract with realtor.com

I am so sorry I signed to begin with! I thought it was all about advertising me and my company's listings. They made promises--and I was the only one in the area doing that particular product.

Then... boom... I sign up for 2 years and a competitor also joined in on the bandwagon. Really ticked me off then. But after I got over that I realized I get almost ZERO leads from it.

November 01, 2008 08:56 AM
Ambassador
2,342,413
Lenn Harley
Real Estate Broker - Virginia & Maryland
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate

Erica.  Your experience is multiplied many times by many agents and brokers.

 

November 01, 2008 10:33 AM
Ambassador
1,227,260
Erica Ramus
MRE, Schuylkill County PA Real Estate
Erica Ramus - Ramus Realty Group - Pottsville, PA

Lenn, how sad.

November 01, 2008 02:27 PM
Rainer
2,600
Brett Shaw
Coldwell Banker Kaiser

Brett Shaw from Cyberhomes:

New look, same Realtor.com. I just looked up my home on "what is your home worth" and it came back with a range of $133,000 to $410,970. Whew! I'm glad I got that narrowed down.

Cyberhomes.com, on the other hand, has my home estimated at a good price. By that I mean that it is near what homes have sold for recently in my neighborhood (in the last 6 months........not 18). On top of that, there is a ton of local information that goes along with it.

November 03, 2008 11:53 AM
Ambassador
1,227,260
Erica Ramus
MRE, Schuylkill County PA Real Estate
Erica Ramus - Ramus Realty Group - Pottsville, PA

Brett--that is hysterical! Maybe you should average the 2 values.

November 04, 2008 06:46 AM
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Ambassador
2,342,413

Lenn Harley

Real Estate Broker - Virginia & Maryland
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