Use massive class action lawsuits to mobilize Consumer Movement in Real Estate!

Any doubt that real estate is the Sleeping Giant of the Consumer Movement? For decades, #RECALL – Real Estate Consumer Alliance – has estimated homebuyers & sellers could save $30 BILLION annually.  Now that’s been validated as massive class action lawsuits versus the #RECartel seek 12X that in damages – $376.7 BILLION dollars! Compare that to #BigTobacco cases in the late ’90s which paid $206B over 25 years:

https://bit.ly/ClassActRE_Damages377B (share via social media)

It’s taken more time than we’d like, but for money-saving innovators, it’s “Back to the Future” and a long-overdue Consumer Movement in Real Estate. That’s what Ralph Nader called for when he first addressed the fledging #BuyerAgency movement on October 28, 1992:

http://bit.ly/Back2Billions (share via social media)

Seven years later, Bpston-based @ADLittle‘s 1999 report to #NAR‘s Strategic Planning Committee predicted real estate agents would morph into real estate consultants.  Referring to the “Traditional Split,” the subject of #ClassActRE lawsuits, the report predicted that “Commissions [would be] non-existent for online players.”

That’s where anti-competitive practices undermined the money-saving potential of the internet:

https://bit.ly/Nadel_AntiCompetitiveRE (share via social media)

CALL TO ACTION:  

This year marks the 30th anniversary of Nader’s speech.  Change agents, want to use MIT’s #uLab process again this Fall to envision a consumer-centric real estate ecosystem based on a new Homebuyer Bill of Rights that empowers to consumers to #Save_30B annually?

How can homebuyer and sellers participate? Schedule a FREE 15 minute consultation or email realestatecafe@gmail.com to chat or call / text 617-661-4046 to learn about the friendly #RESavingSprints we hope to seed to begin delivering consumer savings ASAP.

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Will real estate “consultants” replace real estate agents?

Several days ago, a blog reader asked:

Anyone know of any national source out there promoting or aggregating discount/fee based real estate agents/brokers?

The question comes on the 6th anniversay of the first course "Consumer-Centric Real Estate Consultant" (C-CREC) training offered on October 1, 2000 in Orlando, FL by Julie Garton-Good, founder of the National Association of Real Estate Consultants (NAREC.com).  NAREC is one of two national organizations formed in the past six years to help promote alternative or fee-for-service real estate business models. 

Here’s my short history of attempts to aggregate alternative / fee-for-service real estate service providers:

1997-98:  Pat Rioux, of http://www.listforless.com, worked with an assistant to develop a nationwide database of alternative real estate services.  The same database was published on the International Real Estate Digest, http://www.ired.com, at approximately the same time because Pat also wrote for the site.  IRED was a pioneer in the online real estate world, nominated around the same time for a Webby Award.

July 1999:  The Real Estate Cafe (https://realestatecafe.com), publishers of this blog, hired Pat and her assistant to update their database.  The directory of over 500 companies was available to visitors to the Cafe, then a walk-in, internet-based housing information center in Cambridge, MA — the first nation when we open in 1995.

2000:  Julie Garton-Good founded the National Association of Real Estate Consultants, http://www.NAREC.com.  Their membership includes a wide range of alternative real estate business models.

November 2000:  The National Association of Realtors (http://www.Realtors.org) released a strategic planning committee report, written by consultants at Arthur D. Little in Cambridge, MA, which predicted that the use of the term real estate "agent" would be replaced by real estate "consultant" during the second half of this decade.  Think we’re on schedule?

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