Metrolist Offers Flat Fee

Broker IPTV: Today were talking with Ed Hardey from Integrity Real Estate Group. He is the Vice Chair of the Metrolist Board, and Chair for Metrolist Rules & Regulations Committee.
Ed, welcome to the show.

Ed Hardey: Thanks for having me.

Broker IPTV: Well, weve got some exciting news, you know, coming up here. Metrolist is going to go to a flat fee pricing for their brokers, correct?

Ed Hardey: Its correct, its something, its what the brokers had asked for, for a long time, and so we're trying to be responsive and offer a predictable service for them.

Broker IPTV: Now, on the outside looking in, somebody would say, well aren't you going to make less money?

Ed Hardey: You know, we honestly don't know. We budgeted to be revenue neutral.

Broker IPTV: Okay.

Ed Hardey: So just depending on the market situation.

Broker IPTV: So Metrolist can afford to go ahead and take this chance?

Ed Hardey: Correct, we looked a lot of numbers for that.

Broker IPTV: All right now what am I going to see or how is it going to be billed, tell me little bit about how it's going to work.

Ed Hardey: Well, the billing will be similar to which you have now. It could be through your broker, or it could be through a direct bill. It's going to include most of the things that brokers use. That would be your searching, things like ListHub, and contracts through Instanet. Most of the service that you see today that you use, including even IDX professional services, are going to be on that system.

Broker IPTV: And so, I was going to ask you aboutm because I, like a lot of brokers, have my own personal website. I've got an IDX feed, people can search for listings and so forth. And, that's been typically a $5 extra fee to me, but you are saying this is going to be included?

Ed Hardey: It's actually included, but not only that, but you have two sites that are included with the IDX professional. And so that includes IDX professional, includes things like all your active listings, up to 10 photos, and its updated daily.

Broker IPTV: Okay, now here is the question for you, I wanted to know. Is it going to include Refresh listings?

Ed Hardey: It will include anything thats active on the market.

Broker IPTV: Okay, but if I Refresh a listing, you normally, that's a $10 charge. That's probably not going to be included, I would assume?

Ed Hardey: Okay, on the actual fee there is a couple of things that aren't, so if you want to use Refresh you can, but you will be paying for that.

Broker IPTV: Okay.

Ed Hardey: Additionally things like Ghost listing.

Broker IPTV: Right.

Ed Hardey: You'd also pay for that, just like you do today.

Broker IPTV: Talk a little bit more about the decision process and how you guys came around to this. I mean, obviously brokers said, I want a flat fee pricing, but there had to be more to it than that.

Ed Hardey: Well there is, you know, we get a lot of feedback from brokers, some looking for flat fee, some not wanting that.

Broker IPTV: Okay.

Ed Hardey: So you're trying to juggle and trying to what's best for the majority of members. Flat fee we've looked at it for a number of years, we decided, the Board did, in December, to make that change, that the time was right.

Broker IPTV: Okay, and from December to March, it starts March 1st, correct?

Ed Hardey: March 1st, that's right.

Broker IPTV: And is there a certain amount of time you need there to get some billing things in place or whatever?

Ed Hardey: Well, we wanted to change the billing, but also just as far as the market cycle, to make sure that it was a smooth transition, that everyone was aware of it, and there were no surprises.

Broker IPTV: Right and so, in a case like me, I'm going to call Metrolist, give them my credit card number. I'm already on a direct bill pay. I don't pay through my broker and they're going to keep that on file and they're going to hit my credit card once a month.

Ed Hardey: Correct. Just like they would do today. So if you are, do you pay your bills directly?

Broker IPTV: Yeah.

Ed Hardey: Continue doing that, if you pay them through your broker, then continue doing that as well.

Broker IPTV: That's going to be great for me because I normally rack up more than $38 in fees.

Ed Hardey: Awful lot of people do.

Broker IPTV: Thanks so much.

Ed Hardey: Thank you, Dan.

Broker IPTV: Appreciate you being here.

Ed Hardey: Thank you.