Real Estate Doublethink... So I'm reading two contradictory headlines. Realtors Group to Allow Limits in Online Listings (Wall Street Journal, May 19, 2003) and NAR Approves the Display of MLS Real Estate Listings on the Internet (NAR Press Release, May 17, 2003). Can they both be correct? As the political comedian Will Durst would say, "You can't make stuff like this up."

The new policy, approved by NAR last Saturday, allows brokers to prevent the display of their MLS listings on the Internet. (Now here's the doublethink part.) NAR, the National Association of Realtors, trumpeted its new policy as a victory for consumers -- "Homebuyers will be able to access more comprehensive information over the Internet..." (NAR). Meanwhile, critics argue that the policy "would allow large franchises to limit the volume of listings that appear on Web sites of other, less-expensive competitors, and help Realtors maintain their hefty commissions, generally 6% of the home price" (WSJ).

"Under this new policy, Realtors® will remain at the forefront of the real estate transaction..." (NAR) Hey, chill out. Didn't brokers already win the disintermediation battle? Despite all of the fear of a paradigm shift (not to mention the hundreds of millions of dollars down the venture capital drain), isn't it clear that the Internet does not change the fundamental relationship between owners, agents, and tenants? Aren't we all likely to benefit from a freer flow of accurate information?

And Speaking of Information Access... Many thanks to the CCIM Institute (yes, they are affiliated with NAR!) for sponsoring the PikeNet Dispatch. CCIM sets the information standard with its terrific Site to Do Business Online for its members. If you would like to sponsor future issues of the Dispatch, please send e-mail or call me at 415-485-6700.

--Peter Pike