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To Syndicate or Not To Syndicate, That Is The Question: 02/01/2012

To Syndicate or Not To Syndicate, That Is The Question

A video and article from The Ticker Show.

5 out of 5 by 3 User(s)
4 Comments

Guest Contributor Go to Profile Guest Contributor
Published: 02/01/2012
Posted by: RE Technology
Jim Abbott, broker and president of ARG Realty, took to YouTube to give what many consider a very well-reasoned explanation for his company’s decision to no longer syndicate to third-party syndicators.

 

Much has already been said about his, and Edina Realty’s, actions. You can agree or disagree, but Mr. Abbott’s explanation is compelling. The rallying cry of agents and brokers alike sound all too familiar, so today we talk tactics for beating the 3-headed syndication beast (Zillow, Trulia & Realtor.com). However, we go about in a different way.

 

Comments on: To Syndicate or Not To Syndicate, That Is The Question
by Marty Reed 2012-02-02 06:48:18
Interesting to see both perspectives on To Syndicate or Not To Syndicate, That Is The Question. One suggestion though if you want to get the ear of the REALTOR audience, not only have an important message but pronounce REALTOR accurately. During my tenure as a CEO of a regional MLS and now as a VP of Product for one of the largest MLS vendors, I find that REALTORS are extremely offended by those who pronounce the word as though it has an "A" in it. Really? REALATOR - I think not. Try to separate it by saying REAL TOR. Yeah, now you got it.

by The Ticker Show 2012-02-03 07:39:16
Marty,

Thank you so much for watching the show, and paying close enough attention to hear the mistakes. :)

I find REALTORS! are a lot like Porsche owners in that way.

Super excited you watched the show, and we'll try to tighten up or delivery next time.

by Victor Lund 2012-02-02 08:04:58
I wonder why there is no outcry that consumers can only gain access to Apple products through Apple or Authorized resellers. Why are consumers not screaming that they cannot purchase airline tickets on Southwest from any site other than Southwest.

Why is there not an outcry that every agent does not put every listing in the newspaper and craigslist every day.

Personally, I think that small to mid-sized brokers would be foolish not to pay for featured listings on these websites. Their online presence is typically irrelevant.

But brokers and agents who have a great online marketing program may not choose to follow the crowd. Or they may only partner with one or two publishers rather than 300 publishers. Listing syndication should be done carefully and strategically. Few companies that pay for advertising on publisher websites complain. Publishers may be better served by insuring that the paid advertisers get all of the leads from their site.

I think that this conversation is less about Realtor.com, Zillow, Trulia, Homefinder and homes.com and more about syndicating to websites that have no traffic, or repurpose broker listings, or resell listing data. The bad actors need to be filtered out - and brokers can do that by not sending their data there.

by The Ticker Show 2012-02-03 07:44:12
Great points Victor.

I think there is a lot to be said for exclusivity (Apple, Southwest, etc.), but I think the real estate industry missed that boat when they signed off to give away their product to others - whether that be Trulia, Zillow, or any of the 300 smaller places.

They also missed out by assuming in this new age of business that crappy design and interface was ok because people wanted the product they had.

"It's fine that my website sucks. They can't get at my listing without me." Whether they were saying it aloud or not doesn't matter.

The industry needs to collectively raise it's game, or they're always going to be crying about the same problems.

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