Seventy-two hours apart, a leading real estate technology news site begins by reminding real estate professionals of their fiduciary duties (Agency = Expertise + UNDIVIDED Loyalty), then another article advises would-be listing agents to farm for sellers with a “Join my buyers waiting list” hook.
Will this “help you get more sellers for that particular neighborhood,” or increase awareness of the heighten threat of conflicts of interest in real estate?
Last week, one of the panels at the Consumer Federation of America’s annual conference was entitled, The Digital Revolution and Personal Information: Consumer Benefits and Concerns. In fact, one of the panelists, Frank Torres called for a Real Estate Consumer Bill of Rights in Congress nearly 15 years ago when he was with Consumer’s Union. As you can see from the link below, the call to protect real estate consumers has a long history and a coalition of consumer advocates around the country — still real estate is the sleeping giant of the consumer movement:
http://bit.ly/REBillRights (please share tiny link via social media)
As the release of the Apple’s iWatch brings wearable apps into the mainstream, questions about privacy — who owns data, who can access or share it, and how it can be used with or without my permission — should renew calls for Real Estate Consumer Bill of Rights, DIGITAL rights.
With Big Data Comes Big Responsibility, that’s what MIT’s Sandy Pentland told Harvard Business Review the Harvard Business Review last Fall, and IMHO his call for a “New Deal” on data should be extended to a New Deal on Real Estate data — particularly personal data.
http://bit.ly/BigDataDeal (please share tiny link via social media)
Real estate commissions are so high, it’s not hard to imagine consumers saving billions of dollar annually by leveraging their personal data in the emerging open eco-system in real estate. If you’d like to help co-create that money-saving ecosystem by the year 2020, or benefit from it as a DIY homebuyer or seller, please follow #RE2020 online (or contact RealEstateCafe@gmail.com)
As shown on the tweet above, we hope to collaborate with a powerful new coalition of consumer advocates (which includes AARP and the White House) to extend their call for fiduciary reforms from financial services into real estate. For more information, visit http://SaveOurRetirement.com or follow the hashtag #SaveOurRetirement .