HOT TOPIC!!!!!
Big Realtor.com news yesterday! Realtor.com has concluded its
hotly debated AgentMatch Pilot program with this quote "We learned a
few things in this experiment. We learned that using an algorithm to “match”
consumers with REALTORS® is misguided. A computer cannot find the best Realtor
for someone, just like a computer cannot place an accurate value on a home." {Tessa Hultz RRAR CEO}
Finally NAR has come to their senses! REALTOR.com which is owned by NAR and run by MOVE INC started testing the “Agent Match” product in August of this year. The below article and links to others will educate you on the topic.
Realtor.com® Concludes
AgentMatch Pilot
December 12, 2013Letter from Realtor.com® President Errol Samuelson:
Realtor.com® is the consumer
website for the National Association of REALTORS®. Its primary purpose is to
connect REALTORS® with consumers in the digital world. This is a mandate we
take seriously.
Realtor.com® is also a
self-supporting entity operated by a for-profit company that does not utilize
any NAR dues. No NAR funds are contributed toward the operation of realtor.com.
Both of these factors require
that we innovate, experiment and look into the future in close coordination
with the industry we serve.
This past summer we launched a
pilot called AgentMatch in that spirit.
As you are aware, our
competitors are moving ahead with their solutions regardless of industry
involvement. In an age of reviews, ratings, big expectations and small
attention spans, we wanted to create a service that would place facts, and the
REALTORS® behind them, front and center.
AgentMatch, which we tested in
two markets, aimed to do that. During this testing phase we learned that we
must resolve several important issues before moving any further ahead.
We have concluded the
AgentMatch pilot and are working with Realtors across the country to evolve the
program and find a better way to highlight their unique attributes. NAR has
been, and will continue to be, a strong advocate for its members in this
process.
We learned a few things in this
experiment. We learned that using an algorithm to “match” consumers with
REALTORS® is misguided. A computer cannot find the best Realtor for someone,
just like a computer cannot place an accurate value on a home.
We also learned just how much
lies beneath metrics like days on market or list price to sale price ratio.
Numbers don't lie, but they don't necessarily tell the whole story, either.
This AgentMatch pilot has
concluded, but the larger project remains: We intend to create the most
accurate and complete resource for consumers looking for a Realtor online, and
to continue moving the industry forward with innovative solutions.
Innovation is not easy. It
means accepting risk, and the occasional stumble. But it is, in all cases,
energy aimed forward. I look forward to the next steps.
Errol
Samuelson
*****Other
Links on this topic*****
