Bright MLS CEO checks Robert Reffkin on Clear Cooperation Policy
“What concerns us the most is that these false claims are trying to harm us and benefit primarily the brokerage through sellers not getting the widest exposure for their listing.
“In our view, it could put homebuying and selling in the hands of a select few agents who could choose with whom they want to share information. Ultimately, we think getting rid of the norms and protocols about how information is shared would slide the real estate industry down the mountain into a heap where buyers and agents are forced to pore through online marketplaces and thousands of brokers’ sites to weed out scams and find possible properties. I am confident no one thinks that’s a good idea.”
Brian Donnellan, CEO Bright MLS
Masterful rebuttal from Brian Donnellan calling out Refkkin’s nonsense. At CMLS the misinformation Reffkin was putting out on stage reminded me of another meme.
But why put on such a show? What with all the hand waving? We all know what’s going on. Brian Boero’s post, “Clearing the air of Clear Cooperation” laid it out.
“Some big brokers, among whom Compass is the most vocal, want to accelerate their private listing efforts. Compass has been quite clear about their desire to become a listing destination. Given years of eroding margins, and the potential for commission compression in a post-settlement world, big brokers would like to keep as many transactions in-house as possible and fully leverage their hard-won market share. A critical mass of private, exclusive listings is also a big recruiting lever.
Why not just say that? It’s an obviously rational position, and one that is not inherently evil.”
It seems that culturally, we now rely on fear as the main way to make a point. Whether it’s immigrants ‘eating our cats and dogs’ or the ‘end of democracy.’ Just stop.
And by the way, if Reffkin or any other broker thinks that private/exclusive listings are the right strategy to increase their margins, they need to think harder about this problem. The market will turn, and coming up with band-aid solutions to current problems is not the answer. The real reason you’re failing is that you’re not delivering value to your customers. Focus on that, not on spreading fear.
