Syndication - Why Is It Important to Agents, Brokers, Buyers and Sellers?
When I was actively involved in real estate brokerage in the 1970s and 1980s, Syndication was the term used to describe group investing. Pooling investor funds together in groups and acquiring real property. The most common form of real estate syndication was the limited partnership, public and private placements.
Today, the word Syndication is used in the real estate industry to express the distribution of listing information to various web sites and/or web portals.
This use of the term is similar to the publishing meaning of the word syndication. A good writer’s work is often “syndicated” to various newspapers and publications. The result of the syndication is greater visibility for the writers work. The same information published in different publications and venues resulting in wider exposure.
Now let’s consider listing content. While it was once thought that exposing a listing in one spot on the Internet and driving consumers to that spot (the early theory for REALTOR.com) was the best way to market a listing on the Internet, in today’s Internet environment, this no longer makes any sense. Why? Because a real estate listing is a marketing asset owned by the listing broker, and, in addition to the direct economic benefit of having a listing (the opportunity to earn a commission on the sale of the listed property), a listing widely marketed; for sale signs, advertisements in newspapers and magazines, and exposure on many web sites, provides the listing broker with other less tangible benefits including increased brand awareness and the ability to attract new buyers and sellers. All your listings on one web site only will result is the loss of some of the benefits that can be derived from taking the listing. On the Internet today, distribution trumps destination as content moves to where users go, and users go to many different sites on the Internet …Yahoo!, Google, Craigslist and many others.
Once again, the incentive for brokers to acquire, produce and distribute rich listing data to ensure consumers have access to listings goes beyond the benefit of commission dollars earned when a listing sells. Remember, a listing is a marketing asset. It is important to note that not all listings sell and consequently, commission dollars are not earned on every listing, but, costs are incurred for every listing, both direct and indirect costs. Part of the value proposition in the taking of a listing and the advertising and marketing of a listing is the marketing and brand benefit the brokerage derives. Multiple Sites results in Maximum Exposure.
Having to enter listing data at multiple Internet locations is time consuming, and companies today are proving a “Single Point of Entry” and then distributing the content to various web sites for brokers. The leading syndication company in the real estate industry today is Point 2 Technologies (http://Point2.com), currently syndicating to 29 syndication partners (listed in this article).
The various web sites to which Point 2 customers can syndicate their listings not only gives the broker (and agents) greater branding and exposure, but it also generates leads. These leads are then seamlessly passed back to the members. Point2 never charges agents for the leads generated from their listings.
Additionally, when a listing broker advertises their listing or listings on syndication partner web sites, Point2 tracks the listing exposure and provides activity reports back to the listing broker. As a result, the listing broker can see which syndication partners provide advertising and marketing value to the listing broker. The listing broker can use this information in a variety of ways, including providing feedback to sellers as to the traffic the listing generated. Some syndication partners offer added advertising opportunities and brokers can make more informed decision about where they should advertise their listings, should additional advertising be desired by the broker.
Point2 is now working with MLSs across the country. If your MLS is interested in working with the best syndication product on the market today, please send an e-mail to Syndication@SaulKlein.com.
New York Times — The No. 1 newspaper web site in the US, and the Great Homes network of newspaper web sites, including The Boston Globe, The International Herald Tribune, The Sarasota Herald Tribune, and the Santa Rosa Press Democrat extends your reach to approximately 36 million unique visitors per month.
Google Base — The world's #1 search engine, Google's mission is to organize the world's information and make it universally accessible and useful. Rather than wait for Google to index your site and your listings, use Google Base to upload your listings directly to them.
Zillow — Zillow.com is an online real estate service dedicated to helping you get an edge in real estate by providing you with valuable tools and information.
Yahoo! Real Estate — Yahoo! Inc. is one of the most trafficked Internet destinations worldwide. Single listings on Yahoo! Classifieds cost $34.95/listing. Point2 NLS can feed each of your listings to Yahoo! Classifieds for free.
Ebay — eBay is The World's Online Marketplace enabling trade on a local, national and international basis. For real estate, eBay offers the posting of fixed price classifieds ads. eBay is one of the most trafficked web sites on the Internet.
Craigslist — Craigslist is a centralized network of online urban communities, featuring free classified advertisements and forums sorted by various topics.
Point2Homes — Neighborhood-based search, intuitive design, and rich listing content make Point2 Homes a successful and growing source of free leads for Point2 members.
Oodle — Oodle is a leading search engine for local classifieds with over 17 million active listings. Oodle powers the classified search on the following site Lycos, Express.com, The Sun, Yell.com and Local.com.
Trulia — Trulia is a residential real estate search engine that helps consumers search for home for sale, trends, neighborhood insights, and other real estate information directly from real estate agent and broker web sites.
LiveDeal — LiveDeal is a free, local online classifieds market with reach into every city and zip code across the U.S. It is one of the country’s top 10 most visited online classifieds sites.
Condo.com — Condo.com (formerly US Condo Exchange, www.uscondex.com), is a global advertising portal for condos attracting over 15 million viewers per month.
Backpage — Backpage.com is a community web site where you can post ads for free. Currently operating in 75 markets in the US, the site serves as the online classified solution for several newspapers, radio stations and TV stations while growing at a rate of 22% month over month.
City Cribs — CityCribs is a New York based marketplace for real estate attracting visitors looking to buy, sell and rent properties. City Cribs has quickly grown into a national housing marketplace driving thousands of daily visitors.
Hotpads.com — Hotpads is an innovative map-based search site for rental housing.
HomeScape — Homescape provides local, comprehensive property listings and rich content to home buyers and sellers nationwide, while delivering a suite of advertising solutions that offer choice and results that enable real estate professionals to grow their business.
Propbot — PropBot is a free property listing service and is committed to publishing complete content to generate better results.
The Housing Pages — TheHousingPages.com is designed as a central resource center for consumers looking to to buy or sell a home.
Vast — Vast is a database of classified ads that uses advanced technology to parse and tag ads for better search.
CLR Search — CLRSearch.com is a real estate search engine that provides a data rich environment to explore listings, community demographics, and other data relevant to one of the most important decisions in your life.
Video Homes — Videohomes.com LLC developed The Video Homes Network as a GEO vertical Search portal that brings consumers to geographic specific real estate destinations in a media-rich local atmosphere.
Worldwide-Realestate-ForSale — WorldWide-RealEstate-ForSale.com is an international property listing directory featuring real estate listings from all over the world. This advanced search engine displays listing information to thousands of daily visitors.
HouseHunting.ca — Househunting.ca is part of the Canada.com Network operated by CanWest Interactive, a division of CanWest MediaWorks Publications Inc.
Cyberhomes — Harness the power of Cyberhomes™ and AOL Real Estate to display your listings and get more consumer traffic and leads, all at no cost. With access to more than 100 million property records, Cyberhomes delivers the information consumers are looking for -- home valuations, neighborhood and school information, aerial and heat maps – with many more hot features added regularly.
Clickable City Directories —The Clickable City Directory provides real estate listings for all cities and all zip codes throughout the United States. Its reach is national, its focus: purely local.
House.com — Feature your listings for potential exposure amongst thousands of home buyers each day that rely on house.com for their research.
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