It’s been officially confirmed that indeed Edina Realty has decided to pull its listings from third party real estate web site aggregators. Trulia and REALTOR.com are specifically mentioned. Here’s the official Edina Realty press release.
Details from Edina Realty’s press release:
We’re confident that our decision to pull our listings from Trulia.com and Realtor.com is the right one for consumers as well as our agents and brokerage,” said Bob Peltier, president and CEO of Edina Realty Home Services. “Our clients are number one. And we have an obligation to represent them according to a specific code of ethics and state law. That means we are invested in the integrity of the information we publish on their behalf. The inaccuracies we’ve seen on third-party aggregator sites give us cause for alarm, and the reality is that we are no longer willing to surrender our business – or the consumer’s real estate experience – to third party aggregators, who are not required to operate under the same rules and laws as brokers.
Edina Realty has put its stake in the ground and in some ways has posed a challenge to other brokers not only in the market, but across the country given the reference to its interpretation of the REALTOR® Code of Ethics which all licensed REALTORS® and brokers are bound to follow in in our real estate practices as members of the National Association of REALTORS® (NAR).
Edina Realty’s move caused quite a stir in the real estate industry this week when Craig Kamman, an Edina Realty agent, posted the news on his blog Tuesday afternoon. Since then there has been a lot of traffic, discussion and debate within the blogosphere and various social media channels. (Check out the comments on Craig’s blog post). When I heard the news, I posted this story about Edina’s decision. No doubt Edina Realty’s decision to remove its listings from Trulia and REALTOR.com will be picked up by the national real estate media next week. Perhaps the Star Tribune will jump on the story as well.
Stay tuned as I suspect this is not the last time this topic will be covered. And while it may seem like too much inside baseball, this decision may have a big impact on how consumers find their real estate information online.