I guess its stating the obvious but the Real Estate industry is not best known for its high moral stance Estate agents rely very little on newspapers, flyers and agency walk-ins these days but are now super reliant on their real estate industry websites
Its not usually a topic of conversation that agents not only depend on these sites but also actively lobby them to keep the publics own listings out. Its useful to know that real estate agencies and the property sites that they use have a vested interest in To have such strong ties is not at all a healthy and productive outcome for an independent property seller.
What this means quite simply is that fsbos just cannot compete and this is grossly inappropriate
At this very moment a property portal in Australia has acted to go increase the already existant inequality between fsbo or agent assisted sales and regulation property sales.
Not content to prohibit private sales the market power website has sought to hinder a small company which helps fsbos via an agent assisted sale. Without any viable means to stop the errant behaviour the PropertyNow Australian portal has sought the intervention of the industry regulator that is called the ACCC.
The lettering are indicators of the words Australian Consumer and Competition Commission. It is hoped and appears very likely that the market power will be found to have broken laws that deal with fair competition.
The laws are both powerful and enforceable. There are very serious financial penalties and other remedies that may take place if a company breaks the very demanding Consumer and Competition Act.
It seems almost unbelievable that an already secure brand and one which is a household name would jeopardise its own business operations with the prospect of securing very little of value from the unprecedented attack and one which in any case, can create so little upside potential.
It only needs a proof that the huge property site is in fact a Market Power, in order for the charges to stick an actual breach of law.
If so then shareholders value of the company could fall dramatically.
With the arrival of any such news,the support of the real estate agencies might evaporate.. The attempt to try to stop the smaller site may prove mightily disconcerting for the bigger player.
The efforts by those who design the estate agent onlyportals in an effort to keep for sale by owner listings as banned listings are almost guaranteed to falter.
The performance of real estate agent websites to keep the minor players out of the game is one thing, but when it begins to hit sellers in the hip pocket, then its a totally question.
The policies of the realtor only websites, to exclude fsbo sellers will wither Sooner or later the portals and agents will need to accept the publics wishes.
The regulatory principles will hopefully hasten the process.
The co-operating between real estate agent and industry affiliated websites in order to protect the lack of competition is a national phenomenon in in online property sales but bit by bit agents are gradually starting to lose their exclusive position and so private sellers are noticing faster and stronger sales.
PropertyNow is continuing its dispute with Domain and its worth reading more about this on the PropertyNow site. While you are over there I strongly encourage you to have a good read about their Home Loan software and finance resources.
This real estate report was written and compiled by.
Billie Crampton.
under contract for.
Gospel Property Marketing. Bringing Your Business Results Of Biblical Proportions.
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