The U.S. real estate market suffers from inefficiencies due to over 500 separate Multiple Listing Services (MLSs), each with their technology stacks and management. This fragmentation serves entrenched interests rather than consumers. The National Association of Realtors (NAR) has demonstrated a lack of technological advancement, exemplified by their sale of Realtor.com. Additionally, the issue of dual agency poses significant conflicts of interest, undermining fiduciary duties and consumer protection by incentivizing unethical sales practices and diminishing negotiating power between buyers and sellers.
If we were to start fresh, no competent businessperson would design an MLS system like this.
While CCP rules attempt to address transparency in the MLS, they don't address dual agency-induced damage.
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