Listing Syndication – Six Things You Need to Know
When the idea of online listing syndication (distribution of listings) surfaced a few short years ago, many failed to connect the dots and see the benefits. Concerns about releasing listing data to hostile websites surfaced and were even promoted by some with competing interests.
- Syndication should be free. If you are paying to have your listings syndicated, look for another vendor.
- Syndication through MLS results in a “Single Point of Entry.” The fewer times you enter your listing data into a system, the less the potential for error and the higher the consistency of your data on the brokerage site, the agent site, syndication sites and potentially, other media. Spending time posting and updating listings on multiple syndication sites is also counterproductive. Syndication should be fully automated. One click should send or update your listings on all the destinations of your choice.
- It’s not all or nothing. Your listing is a marketing asset you worked hard to secure. You should be able to fully control and choose where each listing gets published and where it doesn’t.
- Reports and analytics. Syndication should be more than advertising. Demand access to dynamic, high quality reports that illustrate the number of views and click-throughs each listing has generated on each of the sites to which you syndicate. This information is extremely powerful. It helps to demonstrate the value of your marketing to your sellers and can be used to convince new listing prospects to do business with you. It will also allow you to make more informed important marketing decisions should you decide to purchase listing ads online.
- Leads generated from your syndicated listings should go straight to the listing broker or agent – free of charge. The days of selling leads back to the agent are gone.
- An effective conversion system is critical. Syndication has its place in terms of marketing. The ultimate benefit however is to turn the added exposure into revenue. Make sure you have an automated system in place to capture and communicate with hundreds or thousands of leads at the same time, while you concentrate on your day to day business. Remember, most online leads are captured and cultivated over a period of 6 to 18 months.
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