Request for Comments "Real Estate Workshop" #00028

Submission Number:
00028
Commenter:
Steve Brown
State:
Tennessee
Initiative Name:
Request for Comments "Real Estate Workshop"
Crye Leike is the third largest independently owned real estate entity in the U.S. We operate in seven southeastern states; with over 90 company owned stores and approx. 3,200 licensees. I have been licensed since 1974, when contracts for a residential sale were written on a one page document and agents walked around with an MLS book the size of a telephone directory. They "kept the information" private. Today, consumers are king. Information, including photos, ownership, comparable sales, active "for sale"competition, demographics, crime stats, school scores, etc is available immediately from multiple sources on the internet. There are multiple ways sellers can get information, including forms, to sell their property themselves. Even though we have grown dramatically in the states we operate in, our share of the market has shrunk in nearly every market, due to competition of so many different models (from full service to firms that simply put your property in the MLS for a fee) and entities offering many of the services we offer. Some of them are not in the real estate business per se. For the past 3 years, sellers have been marketing their homes on Facebook without even having to employ a Realtor and many times have multiple offers. One new industry initiative that will improve efficiency (we belong to 39 different MLSes, so we deal with different rules, data fields, etc) is Upstream. An initiative that has MLSes, brokers of all sizes and technology experts providing a "data repository", NOT an MLS, to store data so that WE can send the data to all MLSes simultaneously, is definitely a plus for consumers and the industry. It keeps data fresh, since we can update the status of all properties through that repository, and take down "stale data" very quickly. This service was not possible without the cooperation of small, medium and large real estate firms and MLSes from different parts of the country. soon, data will flow to not only MLSes, but portals, broker sites, et al, with fresh, robust information. Please feel free to contact my office for further information. Steve Brown, [REDACTED]