I’ve read (and participated in) many discussions about ARG Abbott Realty Group pulling their listings from national syndication sites over the past 24 hours.
A recurring theme keeps coming up.
It is another point the “anti-syndication” crowd tends to rally around, and another point I don’t understand.
“Agents and brokers deserve compensation for their listing data.”
“In the information age, Agent’s listings data are Valuable, and they need compensation for it.”
“That listing data is valuable. They should pay us for it!”
Syndication sites take listing data “without compensation to the brokers, agents, photographers and videographers who create, pay for and own the content.”
So it seems there are many out there that feel we should be compensated for our listing data.
Uhm, we are compensated.
It’s called a commission check.
You know, that payment you get from your home selling client when you do what you were hired to do — sell their home.
Some of those commission checks can be rather substantial.
But you want additional compensation for your listing data?
Plan to share that additional compensation with your client? You know the one who really, if you think about it, should “own the data” from their own home.
This ought to play out well with the general public — that group of people that buy and sell homes. That group of people that become your clients. A significant percentage of that general public thinks all real estate agents are blithering idiots. Smarmy sales people. Money grubbers.
And now you want “additional compensation” for listing data.
::Sigh:: It’s no wonder this profession has a big giant scarlet letter ‘A’ tattooed across our collective foreheads.
Here’s an idea.
Do your job. Sell your client’s home. Smile and thank them profusely when you get your compensation.
And stop being greedy.
Photo Credit: What Lies Behind. By Truthout.org on Flickr. CC Licensed.
Cindy Jones says
I’d like to be compensated by the agents who steal my listing photos. However when it comes to IDX data I agree we are being compensated by the seller. The more eyeballs that find my listing the better.
Connor MacIvor says
For us it’s not about compensation but being in control of our sellers data. So many times it is presented in a distorted way on these syndication websites. In addition, wouldn’t it be great when a property address was googled for one of your sellers listings if you were the top of the search results and that traffic was driven back to your site?
Andrew Mooers says
I always thought the seller of real estate “owned” the sticks, bricks. Our job is to market it full throttle, with fire in our belly passion and hearing the Mickey on the wrist reminding us that don’t waste any of the daylight, night time marketing before the listing runs out. You want exposure, the good kind that causes multiple trips to the real estate closings. Promotion, marketing to connect with the buyer, any way you can with the ROI considered for dead presidents and time spent to make the “home deliveries”. No one “steals”, lifts your images if you listed, sold it like a little red hen. The carrot is the commision, not so much an image compensation.
Andrea Geller says
Again you said it so simply.
In the days of print ads did the newspapers pay brokerages to have their listings advertised in their newspapers. I would have to proof my ads. After I enter a listing I go on to the various sites and check to make sure the listing is correct. I then do so periodically with all my listings. if there is an error, figure out where it stems from and work to correct it. If I find something wrong I let my clients know and let them know I am working on it. If it is an ongoing issue of the clients finding mistakes before you do you might consider the problem is not the client or the syndicator. Maybe the agent or the broker’s admin.
Maybe I am out in left field on ths one but if I take the listing, I take the responsibility.
Jimmy Williams says
What upsets me most is when other real estate agents steel my photo’s and content. But that’s just the way it is in the digital age. I will continue to syndicate my listings, I feel that the more eyeballs are on my listings the better chance it has to be sold. It is my obligation to my seller clients to market their residential property the best way possible, and I feel that the best way possible is to use all marketing tools to their fullest extent, of course within my marketing budget.
I will always gladly pay a referral fee for a listing or sale, and be very happy when another Realtor brings a buyer to be table. You see I am not greedy, I just want what my sellers hired me to do, and that’s seller their property.
David Wyrsch,Jr says
You hit the nail on the head here Jay! I couldn’t agree more, in fact I also posted a blog with similar views. Do you you job and sell your customer’s home. They don’t care who owns what data, they only want their house sold. And to pull listings from 3 of the top 5 Real Estates sites is not putting your listing customer’s needs ahead of your own.
It’s about the customer, stupid.
Jim Lee says
I don’t want to be compensated for listing data. What my seller client and I have agreed to as my compensation is fine with me.
I also don’t want a third party aggregator using that data to fuel their business model.
I will close by saying my seller client and I deserve to have their property portrayed accurately in both words and photos. A lot of 3rd party sites add data like schools, shopping, etc., that is both inaccurate and misleading. A local real estate professional should be better qualified to answer questions about local whatever in Phoenix Arizona, Portsmouth New Hampshire, or any other location.
Rich Rector says
Jay, you have simply stated the issue. Another analogy is this: posting a listing anywhere is the same as putting inventory out in your retail store; sure you have some expense for that inventory, but your commission should be including a margin for your expenses. I truly believe that sellers want their listing agents to promote their properties in as many places as possible. Short of that, you are probably not upholding you fiduciary duty to your sellers.
President, Realty Executives International
Michelle Poccia says
Would love the script about explaining to seller why the listing on their home is not going to be in the line up in search results on the top three search engines for real estate. Even ghough we all knew the ineffectiveness of print advertising…while IT was THE marketing tool…sellers JUST HAD TO BE in print…and in every issue! Can’t imagine that a seller wants to join their agent in protesting third party vendors. They have a house to sell! They hired you to do what it takes to get the job done! You don’t have to be a premier paying part of these vendors. You have a choice.
I can argue that all day long. Mr Seller: I don’t want to put this listing on syndication. I’m a big believer that if a buyer is our there, their realtor will do their job and run an MLS search and show them all the properties that fit their criteria. I don’t want your house being advertised on a syndicated site that directs calls to an agent that knows NOTHING about your property but instead simply wants the lead to talk them in to buying anything else…maybe even another listing that agent or their office has that’s a simlar price point so they make double commission. I want all the calls about your home to go to ME so I can push YOUR PROPERTY and not another. I want people interested in your property calling ME so I can educatedly speak about your home. yes, we’re going to miss exposure and showings…and that’s fine with me. Those are people that are tire kickers anyway. Real buyers will work with a realtor, that realtor will pull MLS and take them to homes that fit their criteria. Let the other homes get shown by the online lookers that are bored on a Saturday afternoon and want to call to look at a pretty house. Let’s not put you or me through the effort of showing the property to people that aren’t seroius. I’d rather have fewer, higher quality showings as oppossed to more showings but peopel that aren’t as qualified/serious. As the top agent for the past 15 years I can assure you that the worst and most unqualified showings come from agents that pick up a buyer off the internet. most of the time they meet in your driveway and shake hands for the first time and the agent is using your house as the bait to “get in with them” and start their search. It’s just that simple….
Victor Lund says
Online listing syndication presents complex strategic challenges to real estate brokerage in America today. The structure of economic trade between real estate brokers and publishers has many variables that are often misunderstood and often hard to measure. At the heart of the conversation is an unresolved understanding of the exchange rate in listing syndication.
I think that this discussion will not be resolved until publishers and brokers agree to a fair exchange rate between them. I expanded on this topic over on the WAV Group blog as opposed to writing a long thesis here. If you are interested … http://waves.wavgroup.com/2012/01/29/balancing-exchange-rates-in-listing-syndication/
Jeff Chalmers says
Unfortunately, syndication is a necessary evil and the battle over control will be the deciding factor as to where the journey of real estate sales culminates. The next question may be what will Zillow do with the data and will they enter the marketplace as a one-stop real estate service offering consumers home sales, finance and title services. News at 11.
Scott warga says
I’m not an agent, I’m a home inspector and even I understand that more exposure is better for seller. Jay is correct (again) The commission is the payment.
That being said, I do wish that all of these other sites actually told me who the listing agent is. I frequently need to contact them for lock box access as the buyers agent is too busy to help (or show up)
I would like to see the listing agents name and contact info included when other sites post a listing.
Scott … if the buyers agent is too busy to help get you access for an inspection for their client, this is far from a listing agent/syndication issue.
Bob Fortner says
Well said, Jay. It’s unfortunate that things like this paint our industry with the broad brush of caring more about our wallets than serving client needs. But I’m proud I can say I know a great many Realtors who do focus on doing an outstanding job and trusting that more than adequate compensation will follow. Unfortunately, that doesn’t always make the headlines.
Jay, here’s another one: most agents (at least in my area) also charge their fellow agents additional 200-400 MLS fee. BS fee – if you ask me. Maybe 20 years ago it actually cost you money with your local association to input that data into MLS… but now?? Really? So often at closing the listing agent is walking away with full commission plus $300 MLS fee, so I get $600 less than they. It is a junk fee. I also see kind of a big shift in my area where listing agents are only sharing 2.5% with the buyer’s agent. Just closed a deal, looked at HUD: listing agent (got 7% total!) walked away with 3.5% and I walked with 2.5%..and, oh yeah, minus $350 MLS fee. Is it illegal? No. But frustrating.
Same thing goes on in Chicago – just about every listing…
Help me understand this. A listing agent charges the buyers agent $300 as an MLS fee at closing? That makes no sense at all. Also I don’t understand your math in the last sentence…you said you closed a deal and the listing agent got 7% total, walked away with 3.5% and you got 2.5%. That totals 6%, not 7%. Where’s the extra 1%? if an agency did that in my town they’d be crucified. If a less than 6% commission is negotiated on the listing agreement, the listing agent takes the hit, not the buyer. if a listing agent is offering 2.5%, I think that’s bad business. I’d always want to make sure a buyer’s agent is offered their 3% if they come to my listing. I want to make sure they’re incentivised to sell my listing and not feel “shorted” by selling it.
The issue of the value of the data is one of issues down here in New Orleans as I am told by the powers that be that “there is value in the data and we will not give it away” which leads to the rules here about not allowing IDX for agents,not displaying any sold information and very limited syndication. Consumers MUST contact brokerages to obtain that information. So far no one has paid anyone anything except through a commission.
Jay Thompson says
Pardon the intrusion, testing LiveFyre commenting. phxreguy bradnix
@Jay_Thompson phxreguybradnix really weird. I got the notification of this via Boxcar, but Hootsuite missed it and I can’t even find it on Twitter https://twitter.com/#!/i/connect
@Jay_Thompson phxreguy bradnix nevermind, I see why. you used bradnix and not bnix LiveFyre works great (my branding may suck however) and BTW, can’t wait to hear your thoughts live on this topic at RETSO.
Data is such a huge conversation across the board. Thanks for keeping the focus on the consumer, the core of our service.
Tina Merritt says
I would love to be a fly on the wall during one of their “explanations” to a seller for why they don’t syndicate and how that BENEFITS the seller. There will never be a point where we can be 100% certain that our listing information is 100% accurate on all channels. Macy’s doesn’t close and lock their doors because there might be a price error on an item!
This is a frustrating issue. On the one hand, it is highly irritating to have the aggregators use your listing information to acquire eyeballs/customers and then both compete against you for top placement on the web AND “offer” these prospective buyers back to you for a “price” in some form or fashion (no, you don’t have to buy as Jay says). On the other hand it is free advertising and exposure for your listings. In my somewhat informed/uninformed opinion this whole issue dates back to the beginnings of NAR/Realtor.com/IDX and how poorly decisions were made at that time. But in the end the cat is out of the bag and cannot be put back in. Kind of like the inmates running the asylum.
Jeff Turner says
I’d really love to hear my real estate agent explain to me how the information about the house I own, and am asking them to help me sell, is their intellectual property?
Me too. I’ve got a post somewhat related to that fact coming on Geek Estate soon-ish (it’s quite long)
Malcolm Waring says
Well said as usual Jay.
My concern is with data accuracy whether it’s in the MLS or Syndication. Fix it at the source and it should flow through. If it doesn’t, then the syndication channel needs to fix it. If they don’t fix it then they don’t get the data anymore.
I’ve had a frank exchange of views with several of them including r.com regarding bad mapping. All are complying, one way or another, and we are small compared to ARMLS.
By the way, photos are another story. If you take photos for a listing, you have to expect they get used all over to market that listing with that agent. That does not mean the next guy gets to use your photos if the listing expires. That’s a rule.
Jay Thompson says
Me too respres !!
It’s the “it’s mine you can’t have it” mentality, Jeff – we assume that since you signed a worthless piece of paper that you’re MINE MINE MINE!
The explanation is simple: We create and maintain a copyright of your listing information for our mutual protection. Then we have it published all over the web so everyone in the galaxy can see it.
The broker owns the listing, sub-licenses it to the MLS and agrees to have it further sub-licensed to IDX and syndication. If that premise were removed, then the copyright of listings and MLS would be gone.
@Corcoran_Group @phxreguy that’s partially my point.
Phoenix Real Estate Guy says
Little test here… installed LiveFyre commenting on the blog. In theory, this comment here on the Facebook Page should show up on the blog post. In theory…
Agreed , I think the issue is how the data is displayed , upcharging for priority , exclusive or enhanced placement is wrong and does not benefit the public, just another reason for the horrible rep realtors enjoy…
The San Diego paper covered this, interesting as it has an audience of buyers/sellers instead of real estate people like ourselves. While the article doesn’t have too much new info in it, the interesting thing are the public’s comments. And you are exactly right that this is a question they would ask of an agent. http://www.utsandiego.com/news/2012/jan/30/third-party-syndicators/?page=2#article
Cindy Allen says
Jay, I’m not sure it’s greed as much as fear.
I think some of the irritation over “sharing” data with 3rd parties is then being made to feel like you have to buy back a spot next to it. Isn’t that just a sign that you don’t have enough other ways to connect with the buyers looking at the 3rd party sites?
Another sticking point for those not willing to share may be the desire to be compensated for the work done- data collection and entry. That’s the short sighted view. Sorry, the real estate business operates under a different model. And I think we all agree “data entry” doesn’t pay as well as higher risk commission sales.
I’ll let anyone who wants to spread the good word about my listings do so. The others need to get out of commissioned work.
Just to stir the pot on this debate a bit – my biggest problems with these syndication sites are the following:
1) They have no accountability to the data they use – their data is not accurate – well over 1/2 of the listings my clients find on sites like Realtor.com have not been updated in months (I waste a lot of time looking up listings that are sold or under contract). They need to clean up their data and make it real time (yes I know they say it is but it’s not) for me to see much value in it for the consumer.
2) These sits are morphing into pay for click and pay for rank sites. Priority given to Realtor’s that pay for ranking. They play “fast and loose” with disclosing who is the actual listing agent. They have a blurred the lines between the real listing agent and the Realtor that is paying for advertising. Many of them also require the listing agent to pay additional fees in order to have all of the photos listed or all of the data.
Finally, there is a major difference to me with my listings appearing on other Brokers sites (which I am for) vs the syndication services (which I am against). Syndication services are simply lead generating sites – nothing else.
As for the argument, that they are a benefit to the seller so they should be permitted; that would only be true if there was limited access to listings without them. I would argue that there would be no reduction in exposure for the seller, and that there would be an increase in qualified expert exposure on local real estate broker’s sites. There simply is no shortage in internet exposure.
Thanks for letting me play in this debate 🙂
Patrick Healy says
It works. I would love to know how you got Livefyre to show up above the FB comments system. I’m still trying to figure that out.
I agree with you Jay. I hate having to “buy back” leads, so I don’t. We generate enough of our own and don’t have to. Most problems are from third parties that we hire – virtual tour companies and other sites that syndicate the same data again. We turn off all non-mls syndication and for the most part my listing data is accurate on most every site with listhub. Trulia even alerts me now when there is conflicting data. I think the accuracy argument is losing steam as MLS boards and other advocates are correcting that issue.
@SpokaneHomeGuy I won’t pimp my own article from yesterday here as that’s crass. Having said that, yesterday I pulled the “active” listings from Zillow for a random neighborhood here in Peoria Arizona. Of the 20 homes “for sale”, only four of the listings really were active. Five already had sold, the other 11 all were under contract.
Trulia shows 25 homes for sale and, glancing through the first several, all but one of the non-new construction already are under contract. Going through all 25, 13 actually are for sale and 12 already are under contract.
As of this morning, there are 28 homes for sale in the subdivision. So Zillow’s about 15% accurate and Trulia is 52% accurate.
If the accuracy argument truly is losing steam, it’s only because agents and brokers aren’t taking the time to see how poor the data truly is, are taking the “data integrity” claims at face value and aren’t demanding better accountability.
Jay Thompson says
@[email protected] Well I’ll pimp Jonathan’s most recent blog. Yeah, it’s contrary to much of my stated position, but he presents a very solid argument… Everyone that cares about this topic should read it: http://allphoenixrealestate.com/idx-listings-syndication-and-how-the-consumer-is-being-disadvantaged/
@Jay Thompson @SpokaneHomeGuy Thank you, Boss!
Malcolm Waring says
Jonathan, I just picked a zip code with 200 listings and looked at each one in Zillow, then compared it to our MLS (PMAR in NE PA). I went through half of them and did not find a single example of anything like you found when they came from the MLS and went to Zillow though either Point2 or Listhub. The few stale listings I found came from other websites that the agent manually posted on and must have forgotten about.
I’m not sure why but it may be because I have a good relationship with both Point2 and Listhub, and am a complete pain in the ass about data quality. Disproportionately so considering our size, but it’s what I do in my day job.
@Malcolm Waring @SpokaneHomeGuy Interesting … I put the links to the searches in my post on my website; I didn’t look at the source but, frankly, there’s limits to how much time I can devote. When there are 17,000 listings in our MLS and more than twice as many showing on Zillow, clearly there’s something seriously wrong.
I just pulled a random ZIP code here, 85202, where I grew up. Our MLS shows 31 listings for sale. Zillow shows 129 agent-offered homes for sale – more than four times as many.
Not sure if it’s regional or you found a lucky ZIP code; out here in the Phoenix area, the data on Zillow is a disaster.
Malcolm Waring says
No, I have full confidence in the data flow since I check whenever I hear there might be an issue. Unfortunately, I don’t get paid for MLS work so I understand about time.
I’m assuming you are in ARMLS which means we have the same MLS vendor. You have a much higher volume of listings but this can be solved. The trick is figuring our where the problem is located. Do you have Point2 and Listhub?
@Malcolm Waring @SpokaneHomeGuy No, I don’t use either of them. Thompson’s may use Listhub, I’m not certain.
In all honesty, Malcolm, it’s not my job to determine where specifically the faulty data is coming from. The problem is the 3rd-party syndication sites lack the needed back-end protocols to ensure the listings shown actually are for sale.
I can assure you, it’s far more than a small issue – again, check the links in my post and you will see what comes up on Zillow versus what comes up in the MLS for that subdivision, a discrepancy I was able to recreate on a large zip code in a matter of minutes.
The Phoenix-area MLS shows 14,580 residential properties for sale in Maricopa County. Zillow shows 32,111; Trulia shows 21,333.
If anything, since not all listings are syndicated to those sites, the figures on Zillow and Trulia should be smaller than the actual; that they are higher even without showing all the true actives in the MLS proves there are severe data issues on their end.
They can work to solve them or they can continue claiming it’s not their fault and in the interim giving the consumer a faulty view of the market. It’s just that simple.
Malcolm Waring says
I know it’s not your job but I have no idea how Zillow gets your listings so I can’t guess why it’s so far off. We have opt-out and I worked with both Listhub and Point2 myself to set this up and we have good data. Maybe you don’t have any feeds and it’s manual for all I know.
@Malcolm Waring @SpokaneHomeGuy For your entire MLS or your company? There’s no direct feed from our MLS to Zillow, it’s whatever is sent by individual agents/brokerages.
@Malcolm Waring @JonathanDalton @SpokaneHomeGuy
Malcolm Waring says
I set up the RETS feeds for the MLS. We have been sending them to Listhub and Point2 for several years.
No wonder your data is so far off, there is no other way to manage it. If a broker or agent does not wish to syndicate, they just opt out right in the MLS for that listing. Of course, the broker can do a blanket opt out, but they shouldn’t complain about data integrity if the agents all then go out and update TruZitLo manually and don’t manage the listings. It will never be clean that way no matter how hard they try.
@Malcolm Waring @JonathanDalton @SpokaneHomeGuy I’m convinced that the quality of Zillow and Trulia data will be very different depending on the data architecture feeding their sites. In the metro DC area, we have one MLS that’s feeds the syndicators with ListHub. All listings transfer unless the broker opts-out. Very clean.
To analyze ‘accuracy’, I learned that you can’t just compare listing counts to the MLS since Truzillow have Realtytrac listings, FSBOs, etc. Reconciling the data is a real PITA. By looking at each listing for a zip that had 49 active MLS listings, I found only two “Spammy” listings in zillow that had closed in 2010 (Trulia had none). All other ‘false actives’ were explained by timing. Still – Truzilla were missing about 17% of the active listings, so consumers would miss listings. To me, that’s OK. Having a database full of misleading, spammy listings is not.
@MoCoRealEstate @Malcolm Waring @SpokaneHomeGuy Also, I narrowed the Zillow and Trulia only to agent-offered listings, eliminating everything else you have mentioned. Again, the links are on the post for anyone else who wants to see how it was done.
Malcolm Waring says
@MoCoRealEstate @Malcolm Waring @JonathanDalton @SpokaneHomeGuy
That makes me think of a really good point to add to the “Syndication Bill of Rights” if it’s not already there. We will give you a nice clean MLS feed, but then in return, you have to agree to remove all the crap. As you said, the misleading and spammy listings are not OK.
@MoCoRealEstate @Malcolm Waring @JonathanDalton @SpokaneHomeGuy Agree – if an entire MLS feeds truzillow, these guys should definitely present a clean database and absolutely remove data from all other sources (wouldn’t apply to FSBOs, and other non-MLS data). If agents/brokers chose to exclude listings, then so be it. Truzillow would have an incomplete database, yet still provide useful/accurate data to our consumers.
On the other hand, if truzillow takes MLS listings, AND still continues to mislead consumers by presenting spammy listings, then they should be cut-off from MLS data. As an industry, we shouldn’t support any enterprise that knowingly misleads consumers. That’s not good for anyone.
Having said all of that, I suspect that syndicated may be very clean in many markets. I’ve seen a big improvement over the last two years. Other than saying “we work tirelessly to present clean data blah, blah blah” they don’t present any facts. This important discussion would be greatly enhanced by some real numbers on truzillow data quality by market. Until then, everyone will continue to guess and assume what consumers are really getting.
@JonathanDalton @SpokaneHomeGuy I completely understand. Our MLS (sar MLS) has taken a huge initiative to clean up the data. We only syndicate through list hub, unless list hub dies t have the particular channel (as is the case with some KWLS channels). I’m not saying its perfect, but it’s a step in the right direction.
@SpokaneHomeGuy Now I understand … we were coming from two different directions as you have MLS-wide syndication, not broker by broker.
> but they shouldn’t complain about data integrity if the agents all then go out and update TruZitLo manually and don’t manage the listings
There, I totally disagree. I don’t think it’s sufficient for Trulia or Zillow to collect the data and then take zero responsibility for it. If they had any concern for it, they could demand an MLS-wide feed or simply not accept any individually syndicated listings from an area. But I don’t see that happening anytime soon, do you?
@JonathanDalton No, I don’t. I have seen a big change. Our biggest problems are the 3rd parties (Virtual Tour Companies etc.) they RE syndicate the data. I’m TOLD that Trulia has been working on this and they “favor” listhub data above all else. So secondary syndication can still syndicate but it deems list hub accurate.
There’s still a ton of Junk out there. We actually had a buyer contact us yesterday asking to see 12 properties that closed in December.
Malcolm Waring says
I made a post above along that line, but I was thinking more about junk sources rather than neglected listings on agent, broker and franchise sites which is exactly where I found my stale examples. Maybe that would be good criteria but I think you are right, it won’t happen soon.
Malcolm Waring says
The post above was supposed to go to JonathanDalton.
Luxury Rental Miami says
Yes, I agree with Joy! Now a days this Real Estate Business becomes one of the most important money maker place and it makes all the people (the middle man) greedy and the reason of being grief of innocent clients. I also request to them to stop being greedy!, Thanks for the article Joy!
Minneapolis Homes says
Does anyone remember the days when realtor.com was charged $1 per listing per month? Interesting how things have changed.
A stronger, fairer, less greedy Realtor.com funded by NAR with ALL the photos and direct listing agent info could put this whole mess to bed. I surprised that none of the blogs have mentioned this, and I can’t understand what NAR was thinking when they sold out to MOVE. It’s not too late to fix this, though yours and my IDX would likely lose traffic…
I love your blog, you should add an RSS feed feature so I can get automatic notifications of new blogs. If you set one up please email me! i will bookmark you for now. Again Excellent Blog!
Thanks for the thoughtful insight on this. I came across the ARG YouTube video and I whole-heartedly support what he’s saying. I think what you say above about “additional compensation” isn’t what’s at the heart of the matter. At the risk of sounding like an ego maniac, i’m the single largest realtor in my city and did over $50mil of sales last year. I’m not a team…just one guy. I tell you that so you guys know I’m very active in what I do and consider myself pretty knowledgable about what’s going on with IDX and syndicatoin. The part that I see as the “rub” is this….I get a listing, I spend over $5,000 on professional photos, virtual tours, professional writers, floorplans, etc. I PAY FOR THAT. If I choose to have my listing syndicated, any other broker can use that info in an effort to help them pick up buyers. I by no means want any money for the work I’ve done, what I want is the CREDIT. In my city, when I put a listing in, almost immediately every other competitor of mine has it on their personal or company website and to the public it appears to be “their listing.” At the very bottom in 8 point font is a silly line that says “listing courtesy of xyz realty.” This company doesn’t care about selling my listing…they care about people looking at their website, seeing incredible listings and hoping the person visiting their website will ask for more info. While that agent may end up showing them the property, we all know what they really want is the lead on that buyer that’s looking for a $2mil house. Our industry needs to go through a serious change and give credit to the agents that hold the assets (the listings) and not confuse the public by making “my” listings look like “their listings” on their website. Realtor.com, Zillow, Trulia….all those companies do a very similar thing. Have you gone on there and looked up a property like you’re a buyer and tried to find the listing agent? It’s generally at the very bottom with just the Company name, not the agent, no email and simply the main line to the office, not the agent’s personal number. No “click here” to go to company website, realtor’s email, etc. These companies are taking MY ASSET and using it to promote my competition. I want to be very clear….I have no problem with my listings being on other websites. But I believe my content should have people contacting ME for information. not some savvy internet realtor that’s never seen the property and doesn’t know anything about it. Bottom line is it is confusing to the public. It also doesn’t seem right that I spend $5k on photos and everyone else uses them for free to promote what a wondeful realtor they are. I could go on and on for this and write a novel. as you may can tell….
Patrick Healy says
That’s two great tips you gave me this week. Now I have to come up with a great idea for you. Thanks! 🙂
Very nice post ! Very helpful. Thanks for sharing.
Interesting post and thanks for sharing.
Thank you for sharing,fantastic post.