NAR, Redfin and CBS in New York?

Last night I received this interesting email from the National Association of Realtors asking Realtors to contact CBS about the '60 Minutes' Special that was aired on Sunday May 13, 2007.  I am not really sure what complaining to CBS would do, but NAR wants us to voice our concern. 

For a year plus that I have maintained this blog, I have rarely spoke about Redfin not because I don't like them or even because I don't think that their model of buying and selling real estate won't work, I just never spoke about them because there are or I should say will never make it in New York.  To be honest with you - I don't even really think that their model of a real estate brokerage will last.  Right now, they are still "fresh" and they are getting alot of press time, but will that be enough for them to stay afloat and surpass the "traditional" brokerage?  In my honest opinion - no, I don't think.  I can't ever see Redfin going head to head with a New York agent.  But - this is not where I would voice my concern. 

I have more to say about this special, which I will do on another post.  Here is a copy of the email.  I am curious to know if consumers watched this and what their thoughts are about the special.   I know alot of people want to contact me through email and that is fine, I am asking for feedback so either way you feel comfortable to communicate with me is welcomed!

Here is the link for the special if you missed it. 

Dear Fellow REALTOR:

I am disappointed and dismayed at the biased story that 60 Minutes aired on Sunday evening. I want to let you know that we've been working to stay on top of this story.

One of the most difficult challenges we face is educating the news media about today's real estate industry. There's no better example than this 60 Minutes show. For more than a year, NAR worked with the producers who put the segment together and offered several spokespersons to be interviewed for the show, including myself. Yet, NAR's voice was strangely and noticeably absent from the segment though CBS gave time to two critics who disagree with our policies on the display of listings on the Internet.

At times, NAR and REALTORS&#174 have often been the subject of less than accurate news coverage. Your association and its professional staff is making every effort to get the REALTOR&#174 message out to the news media. The result is that only a fraction-less than five percent-of the vast news media we receive is negative.

We encourage all of you to contact CBS to voice your concerns -- maybe have some of your satisified customers do the same.

Thank you for your support.

Pat V. Combs
President

Related Articles:

See what other consumers are saying!!!

60 Minutes from a Consumer - A Non- Realtor

Broker Bryant -  RedSpin simply spun!

Laurie manning -  Shame on you Redfin

Lenn Harley - 60 MINUTES - PUBLIC PUFF PIECE BY PURVEYORS OF PUBLICITY FOR THE PERCENTAGE POSSESSED

60 Minutes Segment on Real Estate Biased: Industry Responds : RISMedia

Inman News Blog: What's your take?

NAR: NAR Responds to 60 Minutes' May 13, 2007 Segment

Comments

[Douglas Heddings]

Thanks for sharing Christine. Totally agree that the Redfin model isn't likely to take hold in New York, but I do believe it will last (maybe not Redfin itself but some form of discount brokerage). There are a large enough number of "discount" shoppers out there who will use their services. Question is whether or not there are enough to sustain this type of business model???

BTW...I didn't think the woman they chose to portray our profession was an accurate display of the creme de la creme of our industry but unfortunately, I think she's the norm.

[Christine]

Doug - as much as I would want to I can not disagree with you about the agent that they "picked" to "defend" our industry.
I don't think that discounters can stay in this business when they are paying a salary so I don't think that Redfin's model is the best route to go. I do also agree with you that there will always be a need for discounters just like there will always be a need for Kmart and Walmart. But, I do feel that an agent who leaves a firm that is only commission based to work for Redfin is probably not a very great agent and did not close many deals. My salary that I can determine for myself is unlimited with my own sales. I know that Foxton's pays a portion of a salary to the agents, but even they had to increase to 3% to stay afloat after they closed three major branch offices.
In that sense I don't think that Redfin would last. Also, I like what I do, I really do - to me it is not a JOB - it is my career that I picked and I like doing what I do. I like building the relationship with the buyers or the sellers and in the end - I like that everyone work for the same goal and for the most part leave the closing happy.

[Douglas Heddings]

I actually like what I do too Christine :-D Go figure. Foxton's is a great example of the discount brokerage model struggling to survive in NY. I have worked with a few sellers over the years who came to me after a bad experience with Foxton's. I think you're absolutely right that the agents who work for these firms do so because they struggle in the industry.

Keep up the good work...love the personality of your blog!

[Richard]

I’ve taken a quick look at your postings, which are very interesting. Lots of material and ideas! Congrats on being so focused!
http://www.Johnbeckland.com/