Broker Best Practices for Avoiding Listing Delay and Inaccurate Data

There are countless methods for distributing listing data, and some are more prone to error and lead loss than others. Today, we're going to look at what some of those channels are and explore ways brokers can ensure that their data is accurate and up-to-date to best serve their customers and represent the quality of their brand online.

Choose a Single Source of Distribution

One of the best practices for brokers is to define a single syndication method so that listing information goes to publishers from only one location. This is important because when a publisher gets the same listing data from multiple sources, they have to use "trumping rules" to determine which information to display. This slows the frequency of listing updates. Furthermore, all of these competing "voices" may not be sharing the same information, even on the same listing, thus poorly representing the quality of your brokerage to consumers. Once you define your method, it is important to ensure agents are providing listing data through these controlled channels.

There are multiple ways that listings are distributed. The most common method is via the MLS, as most MLSs syndicate listings to Realtor.com and distribute listings to a large number of IDX vendors. Many MLSs have outsourced listing syndication to services like ListHub and reDataVault. But, only the MLS can provide data directly to publisher websites, like Trulia and Zillow, via a RETS server, which can update listing changes every few minutes. If a broker is part of a franchise or network, the franchise may also syndicate directly to publishers. RE/MAX, Realogy and Keller Williams all do this since they have the technical resources, but the quality of their listing flow varies depending on their technology. Additionally, virtual tour and single property website providers and companies like Postlets also provide listing syndication services.

With all of these solutions you're always using some other party as a syndication service provider. Each of those parties will have different service levels for frequency of updating listings on a publisher website and consequently, different error rates. That frequency may also vary from market to market. For example, in Huntsville, Alabama, the MLS allows publishers to update listings every 10 minutes. Other MLSs may only allow publishers to update once a day but every MLS with a RETS server can technically provide incremental updates every few minutes throughout the day.

The way in which data moves--whether by FTP, full update, incremental updates, the bandwidth of the syndication service providers--is affected by the capacity of both the sending and receiving servers. Data can only be processed so quickly, and all of these methods of transfer and bandwidth variations have an effect on update frequency and the resulting accuracy of listings.

Listings delivered outside of strong agreement protections, like those secured by MLSs or franchises, erode efforts to control copyrights and misuse of listing data. It is important to choose an option that allows you to fully drive your advertising programs while protecting your content.

Always Be Testing

Another best practice for brokers is to always be testing the syndication services you use. Don't think you can "set it and forget it." Listing data is an ever-changing sea. Over time, listing latency may improve in some services and may degrade in others. Take a close look at all the syndication tools available to you--turn some off, turn some on, make changes to the data source that's sending information, and test to see how long it takes for listing data to appear on publisher websites.

When you're deciding on a single source of syndication, also think about the constraints each tool imposes. For example, a franchise system may have fewer input fields compared to, say, the MLS. Think about type and quality of information that each system lets you input. Some MLSs have limits on the number of photos that can be uploaded. Others may have constraints on photo resolution.

One of the most important fields transmitted in listing data is the link back to the listing source. Depending on the publishers you syndicate to, that link may or not be included (see our discussion on where this link is displayed in property portals). Most data sent at the franchise level sends the link back to the franchise site. Data sent at the brokerage level often sends the link back to the broker website. There's variability in data transmitted to publishers by the MLS—while most link back to the broker website, sometimes these links go back to the MLS consumer website, or a syndication landing page like those provided by ListHub.

Along with the link back, always be auditing the contact information included in listing data. This is important for lead routing. Be sure that contact information of the listing agent or broker is published alongside the listing content. One of the most important things a broker can do is make sure the broker and agent branding, along with the correct contact information, is being clearly displayed on publisher websites so that you can connect to consumers (see how each of the major portals deals with this). Agent cellphone numbers change, so make it a point to check that the information you are transmitting is accurate on at least a semi-annual basis.

Don't forget to test the syndication providers you are using and the publishers you are sending your data to, as well. Publishers may stop accepting from certain syndication sources and how frequently they update listings may change, while syndication providers may cease sending your data to certain publishers. This is particularly true of portals in this time of mergers and acquisitions. ListHub, for example, will cease sending listings to Zillow come April. Brokers and MLSs who wish to send their listings to the portal will have to send them directly or find another tool that will syndicate there.

Sending data directly to portals is a method that's grown in acceptance. Trulia, for instance, recently announced that their Data Connect program has reached 125 MLS participants and over 12,000 brokerages. The program lets brokers send listings to the portal via their MLS for free. According to a recent Trulia analysis, 18-32% of the listings from indirect or third party sources contain inaccuracies and take up to 42 hours to start displaying in front of consumers. By updating from direct MLS RETS feeds once every eight minutes, Data Connect aims to reduce error rates, improve listing accuracy, reduce liability for inaccurate data and fraud, and generate more quality leads for brokers and their agents.

For more on listing accuracy, see Why Frequent Listing Updates are Better for Your Brokerage.

We'll be taking a look at Data Connect and the benefits of direct feeds in an upcoming webinar, Are competitors eating your lunch? Beat them to it with faster listing updates. Register today to reserve your seat!