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Thursday, June 26, 2008

You Spin Me Right 'Round Baby, Right 'Round Like a Record Baby ...

Sorry - I like the song - and after reading the recent comments by Richard F. Gaylord, 2008 NAR President regarding the recent proposed settlement in the case of the United States of America v. National Association of REALTORS, it somehow has new meaning for me.

The lawsuit addressed the rules for sharing data on the internet via a VOW or virtual office website. NAR established rules that gave brokers who operate VOW's control over whether their listings could appear on the websites of other MLS participants.

Richard's comments struck me as odd. The settlement was a win for both REALTORS and consumers. Is it really a win for consumers? His arguement states that the settlement affirms the rights of consumers. The settlement allows consumers to opt out of having their detailed listing information displayed online. "If sellers choose to be online, they can ask that blogging, automated valuations, and false information about their property on an MLS participant's VOW be removed."

How is it a win for consumers to have their information withheld from potential buyers?

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