What's Going On Between Homestore, the NAR and Bank Of America?
(Blanche Evans - 04/18/2001)
With friends like this who needs enemies
Posted By: Newberry - 04/18/2001 03:45 PM
Let me see if I understand this correctly. NAR has received $2 million in royalties from Homestore over the last two years. Mr. Wolff, according to published reports, has sold $2 million plus in the last few months of his stock in HomeStore. NAR represents 750 thousand Realtors with 1.4 million home listings. Wolff represents himself and has gotten rich from our listings. How exactly has the NAR/HomeStore partnership profited the average Realtor who has provided the listings used to build Realtor.com ? How can RealtyTimes claim that even NAR is "profiting nicely?" It seems that NAR has gotten the short end of that stick. And now, to add insult to injury, HomeStore is helping the Banks set up their Real Estate biz. According to RealtyTimes this offers "lead-generation opportunities for Realtors." The only lead this offers us is a fast way to the unemployment line.