50 Years Later: Transparency

The increase in data transparency in the industry has significantly helped with progress. Thirty, forty, and fifty years ago, not everyone shared information. Properties were bought and sold “in private.” 50 years ago, transparency did not exist. In fact non-transparency was the norm.┬áMany, many, transactions were done “behind closed doors” – which at the time was typical and not too different from most other industries.

At the time, this may have hurt, as well as helped, both buyers and sellers. Transparency has evolved over the last 50 years from not only sellers’ information of what is available and on the market, but information as to the condition, circumstances, and adjacent factors which impact sellers’ property, as well as buyers’ conditions and ability to perform. In fact in just the last few years, new rules and regulations were implemented to protect privacy, showing that in some cases, transparency had become an invasion of privacy!

Suffice it to say that the pendulum has swung in both directions over the last fifty years and appears to be reasonably balanced as of today.

Magnifying glass over financial figures. Shallow DOF, cyan tone.

Magnifying glass over financial figures. Shallow DOF, cyan tone.

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