At the 2003 National Association of Realtors annual convention in San Francisco, an industry trade publication showed a spoof video that morphed media mogul Barry Diller's face into Saddam Hussein. The video was intended to be humorous, but it speaks to the recurring theme of fear when a new entrant comes into the real estate industry. Speakers during the conference used phrases like "waging war on real estate commissions" and "tariff models" to describe Diller's well-capitalized foray into real estate with the purchase of LendingTree that year. Industry muckety-mucks said Diller's plan to be the first point of contact for consumers was a direct aim at Realtor commissions. The hyperbole fueled fear among the Realtor troops. Last year and again this year, banks are the enemies for Realt...
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