At Inman Disconnect, I attended the session on radical transparency. It was a fascinating discussion that explored a wide variety of issues related to what is the right amount of transparency that best serves the interests of all parties involved. Transparency touches every aspect of our industry at every level. Lack of transparency can breed distrust, which ultimately can result in a loss of business. Facebook’s lack of transparency regarding its business practices has resulted in serious damage to its brand as well as loss of customers. In our session, we discussed a wide variety of issues regarding transparency including: Should brokers reveal all the details of their profits and losses to their agents? Should agents reveal how much they spend on marketing and other services to their clients? Should the MLSs and the boards of Realtors be more transparent about how much money they take in, about compensation of their executives and other expenses? Should vendors…
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