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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Nar Rallies The Ranks, Screams Foul On 60 Minutes Story
Posted on 05/22/2007 12:56:50 | Link | Post Comment
Here is a copy of an e-mail sent to the Realtor rank-and-file:
Dear Fellow REALTOR®:
I am disappointed and dismayed at the biased story that 60 Minutes aired on Sunday evening. I want to let you know that we've been working to stay on top of this story.
One of the most difficult challenges we face is educating the news media about today's real estate industry. There's no better example than this 60 Minutes show. For more than a year, NAR worked with the producers who put the segment together and offered several spokespersons to be interviewed for the show, including myself. Yet, NAR's voice was strangely and noticeably absent from the segment though CBS gave time to two critics who disagree with our policies on the display of listings on the Internet.
At times, NAR and REALTORS® have often been the subject of less than accurate news coverage. Your association and its professional staff is making every effort to get the REALTOR® message out to the news media. The result is that only a fraction-less than five percent-of the vast news media we receive is negative.
We encourage all of you to contact CBS to voice your concerns -- maybe have some of your satisified customers do the same.
Thank you for your support.
Pat V. Combs
President
IN CASE YOU MISSED IT (re-posted from yesterday): Hi-Tech Real Estate Moves In [CBS 60Minutes]Brad Inman weighs in: "Anyone who started an online real estate company in the last decade appreciated the 60 Minutes story. Whatever the business model, it was very difficult to avoid the traps set up to snare us. However, I do not beleive many of the online failures can be blamed exclusively on industry conspiracies. Sloppy execution accounts for many business flops."
Now comes Larry: People, grow up! There is room for both services and a blending of both styles. Make no mistake about it, RedFin is a discounter. However, they have no right to the MLS which is proprietary to the NAR! Let RedFin and their supporters start their own listing service. But, please, realtors, don't pretend that the 6% commission, paid everywhere, isn't illegal price fixing. It is.
Home prices drop for third straight quarter
from CNN Money, Realtors report that home prices drop across every region nationwide.
Mortgage Woes Force Banks To Take Hits to Sell Homes
from the WSJ, reports that lenders are faced with a backlog of residential properties, and some are turning to auctions and accepting big discounts.
Scottsdale is focus of commercial building boom
from the East Valley Tribune, reports that nearly half the office space under construction in the Valley is being built in Scottsdale. Nearly 3.7 million square feet of office space is under construction in the Valley this year, according to CB Richard Ellis. Of that, more than 1.6 million square feet is being built in Scottsdale. Of that, more than 1.1 million square feet is under construction at the Scottsdale Airpark, which is getting close to build-out. Scottsdale is attractive to business because of its proximity to housing priced for executives, the accessibility of Loop 101 and amenities like golf and fine dining. Rick Kidder, Scottsdale Area Chamber of Commerce president, says that Scottsdale may be in its last big push of office construction. Once the vacant land has been built out, which could happen by 2020, many properties could be redeveloped, he said.
Which Metro area in the U.S. ranks as least riskiest? Phoenix, according to First American.
Housing Bubble and Real Estate Market Tracker from SA for 5/15
Dear Fellow REALTOR®:
I am disappointed and dismayed at the biased story that 60 Minutes aired on Sunday evening. I want to let you know that we've been working to stay on top of this story.
One of the most difficult challenges we face is educating the news media about today's real estate industry. There's no better example than this 60 Minutes show. For more than a year, NAR worked with the producers who put the segment together and offered several spokespersons to be interviewed for the show, including myself. Yet, NAR's voice was strangely and noticeably absent from the segment though CBS gave time to two critics who disagree with our policies on the display of listings on the Internet.
At times, NAR and REALTORS® have often been the subject of less than accurate news coverage. Your association and its professional staff is making every effort to get the REALTOR® message out to the news media. The result is that only a fraction-less than five percent-of the vast news media we receive is negative.
We encourage all of you to contact CBS to voice your concerns -- maybe have some of your satisified customers do the same.
Thank you for your support.
Pat V. Combs
President
IN CASE YOU MISSED IT (re-posted from yesterday): Hi-Tech Real Estate Moves In [CBS 60Minutes]Brad Inman weighs in: "Anyone who started an online real estate company in the last decade appreciated the 60 Minutes story. Whatever the business model, it was very difficult to avoid the traps set up to snare us. However, I do not beleive many of the online failures can be blamed exclusively on industry conspiracies. Sloppy execution accounts for many business flops."
Now comes Larry: People, grow up! There is room for both services and a blending of both styles. Make no mistake about it, RedFin is a discounter. However, they have no right to the MLS which is proprietary to the NAR! Let RedFin and their supporters start their own listing service. But, please, realtors, don't pretend that the 6% commission, paid everywhere, isn't illegal price fixing. It is.
Home prices drop for third straight quarter
from CNN Money, Realtors report that home prices drop across every region nationwide.
Mortgage Woes Force Banks To Take Hits to Sell Homes
from the WSJ, reports that lenders are faced with a backlog of residential properties, and some are turning to auctions and accepting big discounts.
Scottsdale is focus of commercial building boom
from the East Valley Tribune, reports that nearly half the office space under construction in the Valley is being built in Scottsdale. Nearly 3.7 million square feet of office space is under construction in the Valley this year, according to CB Richard Ellis. Of that, more than 1.6 million square feet is being built in Scottsdale. Of that, more than 1.1 million square feet is under construction at the Scottsdale Airpark, which is getting close to build-out. Scottsdale is attractive to business because of its proximity to housing priced for executives, the accessibility of Loop 101 and amenities like golf and fine dining. Rick Kidder, Scottsdale Area Chamber of Commerce president, says that Scottsdale may be in its last big push of office construction. Once the vacant land has been built out, which could happen by 2020, many properties could be redeveloped, he said.
Which Metro area in the U.S. ranks as least riskiest? Phoenix, according to First American.
Housing Bubble and Real Estate Market Tracker from SA for 5/15
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