What you don’t know about syndication
At the upcoming National Association of Realtors convention in Anaheim, the MLS Committee will meet with the Presidential Advisory Group who will report on and make recommendations about a variety of controversial MLS-related topics, mostly surrounding syndication rights.
Saul Klein, Senior VP of listing syndication company Point2.com says that “distribution trumps destination” and sets out to explain how syndication currently works, what rights homeowners, agents, brokers and MLSs have regarding listing data, and other topics related to listing syndication. It is a comprehensive overview and although it is clearly promotional for Point2, it is still a quality overview in terms anyone can understand.
With so many debates currently going on regarding this topic, it is critical that agents and brokers understand what is at stake as it pertains to the core practice of every Realtor in America and the rights over how and where listing data goes.
Takeaways from Klein’s presentation that you should NOT miss:
- 3:38 – “Distribution trumps destination” and “you try to tell the consumer” that your desire is to control their listing and only publish it in select locations.
- 8:35 – the MLS is the single point of entry of listing data and it should be the broker’s choice to syndicate, and syndication should be free.
- 10:12 – Syndication is NOT IDX. The rules are very different (Klein explains).
- 12:30 – Data rights management – all parties should have authority over where their listings go down to the granular level of permissions.
- 15:55 – Analytics that derive from distribution are key.
- 16:30 – Who owns the leads? How are they distributed and at what cost?