Matthew Lind

The future will be about managing the information.

The real estate industry is awash with information. It's everywhere........ you can search to your hearts content and find 'information' up the wazoo........

Thus, it's not a matter of the availability, but rather a matter of distilling the information, which will be demanding.

This is one way brokers differentiate themselves from other brokers: Those with access to the best information win.

I guess this spiel about 'information' takes on a lot of different shades, and you can interpret this to mean numerous forward thinking trends. But seriously,the accessibility that the local market has to the information usurps what was early on the strongest asset of the 'brokers'...their exclusive information. Now any and all information is available anytime, anywhere, to everyone.....there are no limits.

The exclusivity of information is evaporating due to the advances in technology. The expense associated with brokerage won't be as related to the high price of owning the 'information,' because our customers will have similar access. The true expense, and thus, the true virtue of the broker is her expertise with the management and analysis of the information, and the experience of completing a transaction. You've got to become a 'master of the deal.' How experienced, how nuanced, how creative, how able are you to provide a winning experience?

I believe that as the information saturates the market, the true skills of the new generation of brokers emerge.

Please, I'd like to hear your thoughts. More to follow on this discussion about the future of information and its effect on the industry.

Matthew

www.facetrealestate.com

This topic is not a new topic... A friend of mine who is quite involved with our local MLS brought to my attention the exploits of Dave Barry and his sinister approach to the real estate market. Our conversation got me thinking about the various listing services and MLS in general. I started searching for more information on line and on varous blogs, and really couldn't find a very good source of focused discoure on this topic.

So I guess I am sort of throwing this question out to this community to see what people are thinking.

Do brokers oppose the free listing services available? What are the biggest conflicts with the NAR and MLS? A lot has been talked about regarding the REALTOR code of ethics and how Dave Barry's Open MLS was contrary to this. Obviously Dave Barry's biggest problem is that he seems to be flying in the face of copyright law, and wanted to take proprietary information straight off of MLS websites and make this available to all for free. This is extreme and clearly would never work because it's illegal. But what about the more generalized issue, that of free listings, free information, and its adverse affect on MLS and the brokerage community in general?

I just don't see the connection here. Ultimately, my loyalties lie with my clients. My service to them is to provide maxium exposure for their listing, or seek out maximum information for their search. Plain and simple, this responsibility should be on the top of any Code!

I think the trend is that information is freely available and needs to be organized in a way that brokers and customers can easily access it. If such services wipe out some portion of the brokerage community, while this is an unfortunate result for these people, it is simply the sociological trend of where our industry is at right now. My personal opinion is that our industry in many ways is outdated and many of the practices our outdated, and it is for this reason alone that the exlusivity of information and models such as the MLS model is clawing to hold on.

Bottom line, brokers are nickled and dimed to death...and these fees are simply becoming way too expensive, especially in light of the fact that information is freely available.

Consider your trusty title company. I use AmeriTitle almost exclusively because they provide such a high level of customer service. But the information they have is available to the public at large. Due to their excellent service in collecting and sharing this information, I am a loyal customer.

I think that ultimately, if you're a broker who is afraid or fearful of what the demise of the exclusivity of information will bring to our industry, I think you should reconsider what your best service is! There will always be a place for brokers in the world of real estate transactions. But I think that us brokers are going to need to embrace technologies and start diversifying our portfolio of services because the trend is firmly in place and the momentum is undeniable, the days of exclusive information collected by big companies (non-profit? or not) are numbered. The cat is out of the bag.... The information is out there, and it's our job as brokers to be the master of this domaine. Yes, every Tom, Dick and Harry can search for real estate of all types easily and for free...but can everyone as easily navigate the complexities of a real estate transaction? NO.

There will always be a place for an expert broker who delivers real value to their customers.

I'm eager to hear any responses, for or against, because I'm trying to gauge the market place and figure out what the future of these institutions is.

All the best-

Matthew Lind

www.FacetRealEstate.com

Well, we get it.... Times are tough.... Banks aren't lending.... Investor confidence is at an all time low....

But let's remember that what has made Salem Oregon a strong market over the last several years is the simple fact that our population is growing rapidly. People love Oregon. And our pricing is still afordable in relation to other markets.

One thing I love about real estate is the seasonal aspect of it. People tend to hole up for the winter and hibernate through the cold months, and then once Spring starts thawing things out, so too investor confidence is renewed. One consideration is that the down market has coincided with the winter months. I truly believe that Obama's new vision, the changing seasons, and the undeniable growth of the North West will buoy our market and get us back on track.