On the “Value Add” of a Real Estate Agent

Jay Thompson
Published: 02/07/2012
Posted by: Thompsons Realty

Jay Thompson provides his take on the value of a real estate agent.

As the kerfuffle over a San Diego real estate broker pulling their listings from syndication sites is about to enter its second week, I keep seeing something reiterated over and over. I’ve seen it stated in many different ways, but it all boils down to “listing data”. How important, many say critical, that data is. Well, not the data itself necessarily, rather it is the control of that data (or lack thereof) that seems to get so many riled up. Here’s a paraphrase of the argument:

Our listing data is our lifeblood. Listings are the most valuable thing we have to offer the real estate consumer. We’ve got to stop giving our data away!

Really?

If you think listing data is all you have to offer the real estate consumer, then I have to respectfully suggest you find another line of work.

“Listing data” is the most valuable thing you have to offer? A pile of photos, some cheesy sales copy (Honey, stop the car!) and a list of amenities is all you have to offer?

We (“we” as in the real estate collective) lost control of listing data long ago. Gone are the days when the only way a potential home buyer could find out what homes were for sale was to go to a real estate broker’s office and flip through printouts in a three-ring binder. Gone are the days when every open house was printed in the Sunday paper. Gone are the days where agents and brokers were the only people with direct access to listing data.

Gone. Thank God.