The debate over public versus private lists is moving from editorial showdowns to new legislation seeking to limit the practice at the Washington State Capitol.
The debate over public versus private lists has been fought in the media, on stage, and in the courts. Now, the debate has moved to state legislatures, with Washington becoming the first state to consider whether private marketing is good or bad for consumers.
Washington Realtors has spoken out in favor of state legislation restricting the use of private listing networks. The bill, SB 6091, was introduced last week and would amend state law to require real estate agents to sell properties to the public rather than to a “limited or exclusive group of prospective buyers.”
The bill provides for private property listing networks only when “residential real property is simultaneously sold to the general public and to other real estate brokers, except as reasonably necessary to protect the health or safety of the owner or occupier.”
“Ultimately, we feel that the use of a private property network is inconsistent with our goal of being the most consumer-friendly state in the nation for buying and selling real estate,” Ryan Beckett, president of Washington Realtors, said in a recent video for members.
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It is not only private properties that are causing tension between the government and the real estate industry. Institutional investors who buy single-family homes are the target of a proposed crackdown at the federal level, a move that has drawn Federal Housing Finance Agency (FHFA) Administrator Bill Pruitt.
Whether you’re working with investor clients, investing in your own retirement funds, or simply working on a market listing, it’s important to understand how government policy is shaping and reshaping real estate. That’s why Inman contributors provide real-world, real-time insight into all the controversies and changes, along with the strategies you need to succeed.
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When working with investors, your job is not just to find properties, writes America Foy. It’s about identifying investment strategies that are built to weather market cycles.
President Trump’s proposed ban on institutional investors is not a real solution
President Trump is trying to respond to legitimate complaints in the housing market, but the proposed ban would not increase supply, writes Derek Carlson.
5 ways to prevent listing anxiety from hurting your prices, processes, and profits
Managing anxiety about the home selling process can help you save deals and ensure more effective decisions for you and your clients, writes Josh Reese.
The Download is a column where Inman’s Christy Murdock takes a deep dive into last week’s most read articles to give you what you need to face Monday head-on.
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