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by ParacelsusOfEgg 395 days ago
I think this change is pro National Association of Realtors (NAR). My understanding is you need a REALTORĀ®'s license to list on the MLS or go through someone who has a license.

The NAR has been historically pretty anticompetitive (see the recent Burnett v. National Association of Realtors finding) so my sense is this is likely anti consumer.

1 comments

Why would it be anti-consumer though? An broken analog clock is right twice a day, and not letting there be a private market for the rich and well-connected is good for the individual realtor or firm that isn't well connected and is also good for consumers who aren't rich and well-connected. It means that property being sold get listed to a database that all consumers get access to, instead of conglomerates or large companies like Compass dominating the market with their private databases. it's like if there was a members only section of a store that sells specific things, and you have to know the right somebody to gain access to it. Regardless of the prices, the people running that corner of the store have advantages over the others, if they can generate demand for products only they can stock.
It could be anti-consumer because Zillow isn't a market for just the rich and well-connected. If I own a modest home, I don't necessarily need a realtor to help me sell it. I might like to list it on Zillow myself and sell it without realtors taking 3-6% of the sale price. Now that isn't an option - I'm forced to go through a realtor and pay them 3-6% because only they can list on MLS.
So use Redfin?