Click here to print out a copy of the entire testimony in PDF format (264K PDF file).
Hearing Before The House Financial Services
Subcommittee on Housing and Community Opportunity
Entitled
“The Changing Real Estate Market”
Testimony of Pat Vredevoogd-Combs, ABR®, CRS®, GRI, PMN
2006 President-Elect
National Association of REALTORS®,
July 25, 2006
Technology
The successful real estate brokerage firms of today are the result of experimentation and change. The incentive to better serve more customers leads to constant innovation and improvement in business practices. There is no better example of a commercial sector seeing the “writing on the wall” than the real estate industry’s early recognition of the powerful influence that technology would have on the marketplace. Before the wave of technology came upon us, the real estate industry was already heavily investing in advanced information communications and building infrastructure that are today the foundation of the way consumers use the Internet to search for listings. Today, real estate professionals are the driving force behind the continued technological advances in the industry; in fact, REALTORS® spend more than $1 billion a year on technology.
Real Estate Industry Embraces World Wide Web
Multiple Listing Service – A Powerful Force in Facilitating Competition
MLS is not a “Public Utility”
No Need for Federal Intervention in the MLS System
Allowing Banks to Engage in Real Estate Brokerage Creates Unlevel Playing Field
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