At the risk of stating the obvious, of all the selling industrys both car sales and Real Estate sales seem to be least respected in the publics eyes As we all know real estate agents use real estate websites and that they, generally speaking, end up paying very large amounts to be on those sites
Its not spoken of that agents not only rely on these sites but also actively lobby them to keep the publics own listings out. Its useful to know that property agents and the portals that they use have a vested interest in Few people would realise that the real estate agents and the portals that feed them leads, enjoy a very healthy relationshiphealthy for them at least but not so much for Joe Public.
Real Estate Agents and property portals are almost kindred and have a type of relationship that is almost indiscernible from the average property seller..
This means there is a cartel designed to limit the exposure of fsbo property so as to make it difficult to sell a home privately
At this very minute a property portal in Australia has acted to go magnify the inequity between fsbo or agent assisted sales and regulation property sales.
Not content to prohibit private sales the market power website has sought to hinder a small company which helps fsbos via an agent assisted sale. Powerless to stop the extremely bad behaviour the PropertyNow Australian portal has sought the intervention of the industry regulator named the ACCC.
The abbreviation means Australian Consumer and Competition Commission. It is hoped and appears very likely that the market power will be found to have abbregated their responsibility to operate within these laws .
The obligations are very powerful. There are very serious financial impositions and other remedies that may be levied if a company breaks the very onerous Competition Laws.
It seems astonishing that an already successful real estate website and one which is a recognisable would jeopardise its own business operations with the prospect of a dubious outcome and one which in any case, can create so little upside potential.
It only needs a proof that the well known property site is in fact a Market Power, in order for the allegations to stick a prosecutable breach of law.
If so then shareholders value of the company could fall dramatically.
With that kind of news,the appetite for the fight might pass very quickly. The attempt to try to stop the smaller site may prove highly both litigious and a PR nightmare for the entrenched portals.
The efforts by those who manage those agent onlyportals in an effort to keep sale by owner listings as blacklisted are inevitably bound to fall foul.
The designing of real estate agent websites to keep the smaller competitors out in the cold is one thing, but when it begins to penalise the public, then its a completely different situation.
The doggedness of the real estate agent only websites, to exclude private sellers will falter There will come a time when the portals and agents will need to accept the umpires verdict.
The regulatory principles should hopefully hasten the process.
The domination among real estate agents and industry sites in order to secure the arrangement is a cross border contention in property but gradually agents are beginning starting to lose their exclusive foothold and so private sellers are proudly achieving better results.
PropertyNow has added info about their fight with Domain and you can also see what the site provides in the area of Home Loan offerings as well.
This real estate comment was written and compiled by.
Garry Mont.
under contract of.
Gospel Property Marketing. We Deliver Biblical Results.