60 Minutes Controversy Has Realtors In A Tizzy

Have you seen what all the excitement is about? The stirring portrayal of the real estate industry from Lesley Stahl is full of inaccuracies...BUT....there is also a lot of truth in the story.

To start this dialogue, you must take the 12 or so minutes to watch the video...

http://www.cbsnews.com/sections/i_video/main500251.shtml?id=2796105n

From the NAR website...we have a chain of letters, emails, and other types of responses in this controversy.

http://www.realtor.org/about_nar/60_minutes/NARRespondsToSixtyMinutesMain.html

Over the next few days we are going to take the time to dissect this controversy, how I see it and why it seems to me, the more noise NAR makes about this issue, the more it hurts Realtors instead of clarifying the issue.

My, how I wish I owned Redfin right now..the star of this controversy. Actually, the only party that is going to come out of this smelling sweet! Check out their website...and look at the VC money they have attracted. I think this story has a lot of legs as this is the threat, once again, of private equity money getting into real estate, a business traditionally Mom and Pop. Those Mom and Pop models dominate the dues of NAR and these new busienss models are scary stuff.