The net neutrality controversy came to its head last week following the Federal Communications Commissions (FCC) repealed Obama-era "open internet regulations". These protections made it mandatory that broadband internet providers offer equal web access without added fees or higher speeds.
But how will this affect the real estate industry?
-"Tiered" Service
Tier one: also known as "the fast lane". This would allow businesses to buy preferential treatment and faster speeds to their websites. While this is beneficial in some ways to bigger businesses, "tier two" companies would ultimately suffer for it.
Tier two: Most likely small businesses that can't afford to pay higher fees. These companies will have slower internet speeds or even their websites blocked.
Larger companies also may be able to access exclusive deals with certain websites to showcase their websites and block the competitors'. With this repeal, high-earning brokerages would be able to pay for preferential treatment, creating an unfair advantage against small real estate companies.
If the Net Neutrality repeal passes, all of these business practices would be considered legal in the eye of the law.
What if you aren't in the real estate industry? How will Net Neutrality affect you? Repealing open internet won't just hurt businesses and real estate.
-Internet Bundling
Your service providers could start charging you to access certain websites and apps. Broadband providers will begin selling the internet in bundles, similarly to how cable television is sold today. Want to access Twitter or Instagram? Under this bundling system, getting on those websites could require paying for a "premium" social media package.
This is an entirely real issue at hand. In some other countries, internet bundling is already happening. For example, this is how a Portuguese service provider splits up their internet access:
*Messaging: Skype, Text, and FaceTime
*Social: Facebook, Instagram, Twitter, Snapchat, Messenger, Tumblr, LinkedIn, and Pinterest.
*Video: Youtube, Netflix, and Twitch.
*Music: Spotify, Pandora, Soundcloud, and Google Play Music
*Email/Cloud: Gmail, Yahoo, Google Cloud, Amazon Cloud, and Google Drive.
Each of these packages could have their own fee, which would make combining packages expensive. Without rules preventing prioritization, a "fast lane" could potentially be occupied by the big internet and media companies, while everyone else will be left in the "slow lane".
How can we stop it? While writing and calling Congress is a good start, unfortunately, it is unlikely they will pay it any mind. Unless enough people can pitch in to pass a "Resolution of Disapproval" to overturn the FCC's vote. Or, you can text BATTLE to 384-387 to contact Congress and stop the FCC.
