Real Estate Client Referrals' Jeremiah Thompson views rock-bottom situation as opportunity for much-needed change
MISSOULA, Mont., March 31, 2009 — The real estate industry may be in dire straits, but Jeremiah Thompson, a former real estate broker and owner of Real Estate Client Referrals (http://www.realestateclientreferrals.com), views the housing crisis in a different light. To this industry expert, the low transaction numbers represent a fresh opportunity for those who work within the industry to call for much-needed change. And Thompson believes that such a real-estate revolution could shift the power and control from agents to buyers and sellers instead. That's because people are becoming aware and wary of the wheeling and dealing of brokers, and are waking up to the idea that solutions exist, he says.
"Agents have had a monopoly on buyers for the past 20 years," Thompson says. "They have exclusive access to the local multiple listing services (MLS), and this allows them to control access to the majority of home buyers. Since MLS organizations are private and not governed by state or federal laws, it's been up to each MLS organization to establish its own rules for membership, access and sharing of information. In essence, your local MLS could decide to let homeowners list homes directly, bypassing an agent. They could also decide to let buyers have direct access to homeowners with listings."
This scenario isn't yet a reality because the National Association of Realtors restricts its MLS partners, Thompson says. However, through growing pressure from buyers and sellers to open up the MLS system for public use, albeit with user fees, the MLS could soon recognize the profit behind such an opportunity. What's more, the Internet has now eliminated the need for sophisticated MLS software. This represents yet another major roadblock that has recently crumbled.
Agents have been controlling the platform and to their advantage," Thompson says. "But their monopoly will fall apart when a better way is introduced. With the Internet, a better way is already here, just waiting for the public to realize it."
As the real estate industry evolves in favor of homeowners and buyers, Thompson foresees developments that could foster a fairer, freer marketplace, such as new professional opportunities for real estate marketers and those who arrange showings and listings or manage contracts, transactions and closings.
According to Thompson, "Once the MLS gives direct access to the public, such opportunities will spread across the U.S. and Canada like wildfire, turning the real estate market upside down."
For more information, visit http://www.realestateclientreferrals.com.
About Real Estate Client Referrals
Real Estate Client Referrals is the definitive online resource for finding handpicked, qualified real estate agents. It is owned and operated by Jeremiah Thompson, an entrepreneur who specializes in harnessing the power of technology and people to build a fair and free real estate marketplace.
Contact:
Terri Braun
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406-532-3712
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