You cheerleaders from NY and NJ done yet? Good.
Pull out a calculator and yellow pad of paper and sit down and figure out how many years it is going to take to grow revenues at a compounded 20% per year, with a corresponding increase in costs, to generate enough NET profit to warrant the CURRENT valuation based on a PE of 25.
Look forward to your answer.
Move is the solution for the industry. They are not trying to disintermediate brokers or agents but support them. You seem to have a political bent to your points. MLSs do not have reputations for working with any tom dick or harry that wants their data. A Zillow will be virtually gone within 12 - 18 months. It is a worthless offering to consumers that is flawed and attempts to value properties without on site evals,�@a virtual joke that is a detriment to a consumer, and an uneducated assualt on an important role within the homesale process.
You are a bit of a joker questioning if Move will be around. Not only will they but their market share will be higher than ever by the time a zilow has blown through their VC.
You have been provided an new kick ass feature that supports the industry and you. Admit it is good and if you think there should be others out there let the market settle on this itself, but dont get all pissy because Move has gone and done something so good. There is no malice here just efforts to compete and support the industry.
I don't think this is unique to my market. I'm lucky to be in an area that has been supportive to my efforts in pushing the envelope with regards to my Internet efforts. There are some areas that don't even have IDX yet or only allow a select few brokers to implement it. These are the areas that will probably revolt against their MLS when they finally figure out how restrictive the MLS has been and has hurt their business potential moving forward. Does providing Move off-market info create the straw that breaks the camels back? If not, it's one straw closer...
"Move's latest service also blows a door off this perceived protected data vault."
This is exactly the issue. First off, Move doesn't own the keys to the vault... agents with the listings do.
Secondly, if this does open up... then the very reason agents join the Realtors to join the MLS goes away, because they no longer have control over the data... and if that happens then Realtor.com becomes a shadow of itself because everyone has the data and competition opens up.
Yes you are right I did misunderstand him. The politics and relationships between MLS boards/vendors can be complex and I really can't give a well informed opinon on the situation in Bostonpete's market.
I think Zillow would also need to join a local MLS to get the data.
Move is not Uber-MLS. They can't develop a service around data they don't own and expect it to be exclusive use. If they are the catalyst for making MLS data more open and available, then won't they be taking a major step towards eliminating the need for Realtor.com? Or, are they helping get rid of the MLSs as we know them today which would also mean Realtor.com goes away too?
Zillow was a wake up call to the industry that Realtors and MLSs can't continue to keep housing data under their control. Move's latest service also blows a door off this perceived protected data vault. Things are going to change and I don't know if Move and/or Zillow will be players when the dust settles.
Get over what? I'd like Move to succeed with this effort as I have been handcuffed with what I can do with off market data. If Move can get the data and use it then I (as a member) should be able to do as I want with the data as well. Right now I rely on public tax record data from the county recorder but it's about 3-4 weeks behind. If I had access to current MLS data there are a couple services I already have spec'ed out that I would offer that no one does at this point. So I applaud Move for pushing this issue. It can only help me and not hurt me since Move won't be offering their service in my area if I can't get the data too.
Tribe... you just don't get it. Think a little deeper and re-read what Bostonpete said.
Then answer this simple question: if Zillow is a licensed broker (which they are)... why can't they get the same data?
Get over it dude. They know exactly what they are doing and what they can and cannot do with the data.
I would think you would be happy to have Move supporting you with such a cool consumer tool. Look at a stupid site like Zillow with Zestimates (I still can't believe anyone took them seriously even for a minute with terms like Zestimate), a site that was attempting to discredit the value of a REALTOR and a REALTORS input on intangible benefits or other assets not assesible via a program.
Market Insight is here to stay and I congratulate Move for helping the industry provide better data to the consumer on behalf of REALTORS. They are the right representatives for the industry in general.
They are on you side whether you like it or not.