OpinionIndustry News

Realtors can’t turn back the clock

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The Wall Street Journal printed a strong editorial, "The Realtor Racket," on Aug. 12, 2005. It touched on a key issue in the battle to preserve traditional real estate commissions – the welfare of consumers. And the question arises: 'Does innovation hurt the educated consumer?' Innovation frequently spawns conflict. Traditionalists try to turn back the clock or at the least try to stop it from advancing, protecting themselves from change that impacts the status quo. This is what appears to be happening in the real estate industry today. Traditional real estate brokerages, feeling somewhat overwhelmed by alternatives that allow for more consumer involvement in the selling process, seem to be using their 'muscle' to stem the rise of innovative competition. What they are missing is that this 'phenomenon' – if you want to call it that – is being driven by consumers. We certainly encourage all real estate professionals to support the National Association of Realtors as t...