Cendant Corp. Is Running Scared

5 March 2003 - 2:00pm

The nation's largest real estate franchise, is calling for the National Association of Realtors policing real estate listings on the Internet.

"A white paper released today by the real estate franchise giant argues that the proliferation of virtual office Web sites known as VOWs would force traditional brokerage companies to pay out referral fees to 'third party' companies and that the payment of such fees would 'do extreme damage to the operational viability of certain real estate companies...(and) effectively drive local real estate brokerages/agents out of business.'"

Source: Inman News, March 5, 2003
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"This ends up being, to be sure, a second best alternative, but it's better than the third best alternative, which is to do nothing." -- Jerold Kayden