One of the privileges of my position at REALTOR® Magazine is introducing our print stories to the Internet every two months. Tomorrow is the day that the September/October issue hits the web, and there are a lot of reasons to be excited. We were able to chat with some of the hottest speakers coming to this year’s REALTORS® Conference & Expo, and we compiled some great risk management tools when dealing with everything from website accessibility to fiduciary duties to meth homes.
Photo: Paodoruvel, 2014; via Morguefile.
I’m always on the lookout for places where books and real estate collide, and the commentary in the upcoming September/October issue from Steve Murray is one of those places. Murray, editor of REAL Trends and president of REAL Trends Consulting Inc., explains why real estate professionals who are frustrated with listing issues surrounding the MLSs should read Michael Lewis’ Flash Boys: A Wall Street Revolt.
When you think of the U.S. stock market, it’s the New York Stock Exchange or NASDAQ that comes to mind. But as Michael Lewis’s new book, Flash Boys, reveals, there are more than a dozen exchanges—and that doesn’t even count the “dark pools,” the private systems operated by most major U.S. investment houses for the benefit of their big-money clients…
…Cooperation and compensation were baked into the MLS. Want to know how important those practices are? Think about commercial brokerage, where everything is subject to negotiation right up to the closing, and imagine fighting over commission splits in front of home owners at a closing table. Then read Flash Boys to find out how securities traders game the system.
OK, so that puts Lewis’ latest officially on my ever-growing to-read list. But I’d love to hear from you if you’ve read it yourself.
And just because I take care of my loyal Book Scan readers, you can go ahead and read Murray’s full commentary on REALTOR® Mag Online, a whole day early. To the readers go the spoils!