The real estate industry blogs were all abuzz this week reacting to a press release from ForSaleByOwner.com. The press release was later challenged as false and misleading and a retraction has been requested.
In the press release, FSBO.com said they were going to be adding their listings to the powerhouse search site REALTOR.com which is the search site exclusive to REALTORS® … the members of the National Association of Realtors®.
Needless to say, REALTORS® were very upset because we must pay huge fees to belong to the NAR, plus hundreds to thousands of dollars to upgrade our listings on REALTOR.com. The thought that a FSBO seller could have their listings there was just inconceivable. It was the principle … the FSBO seller has already indicated that they don’t want to pay for a REALTOR’s® services … but they want to derive a benefit from our national listing service … without paying for it.
It would be the same as someone being able to join the American Bar Association without having gone to law school, but buying the do-it-yourself Will papers at Staples or Office Max to avoid paying legal fees.
Fortunately, NAR and REALTOR.com have challenged FSBO.com and issued these clarifications:
- FSBO.com does not in any way enable home sellers to advertise their home on REALTOR.com without broker representation. Every property on REALTOR.com must be listed by a licensed real estate broker.
- REALTOR.com has not authorized FSBO.com to resell REALTOR.com’s Showcase Listings Enhancement package.
- There is no relationship between FSBO.com and REALTOR.com.
- There are no unrepresented homes on REALTOR.com – every property on REALTOR.com must be listed by a licensed real estate broker, and unrepresented properties would not qualify to be submitted to a Realtor® owned and operated MLS.
REALTOR.com has asked FSBO.com to issue a retraction. FSBO.com also did not request or receive permission to use REALTOR.com name in their press release. Tsk … Tsk!
Maybe FSBO.com should be more careful in making their unsubstantiated claims! Ya’ think!
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