We swear it wasn’t us.
On Friday, after Behind the Hedges published a long post about the failure of East End Listing Exchange, the East End Real Estate Association announced via a release that they had “decided to discontinue the development of the East End Listing Exchange, a proposed new listing system for the East End, and disband the EEREA.”
In the post, we cited the listing service site’s poor usability, lack of information, and dearth of advertising. The industry, aside from the participating firms, was unenthusiastic. Geoff Gifkins of Nest Seekers mentioned, “This was also a for-profit business which would have benefited the founding agencies. That’s a great conflict of interest.”
The final nail in the coffin, of course, came from the sale of HREO/RealNet to the Zillow Group, who are actively listening to brokers’ concerns and lowering fees.
The press release from EEREA mentioned that “its members will likely renew an effort to form or join a professional real estate organization in the near future, reexamining technology options at that time.” We hope they’ll keep in mind conflicts of interest as well as the need for superior technology and a better end user experience.