Listing Syndication has become one of the more polarizing business topics in the real estate industry. Everyone seems to have a view, and many groups are trying to figure out how to fix it. There is no doubt that some companies are benefiting from syndication, but most find only little or moderate success. We seem to be hitting an inflection point with syndication where a lot of change is about to happen – slowly I suspect – like all real estate trends.
The Council of MLS published two surveys this week – one for consumers and another for professionals. They are trying to understand if a prominently displayed MLS logo of some form will be beneficial to provide some assurances on listing quality. WAV Group is providing the survey service to CMLS complimentary. If you want to promote the survey on your public site (consumer) or send it to your agents and brokers (professional), contact Marilyn Wilson from the WAV Group(below) or Sarah Carton at CMLS for the link.
Brokers are not banding together, but they are making changes to their syndication strategy in some significant ways. Shorewest and Edina – two of the top 25 largest brokerages in America have turned off syndication. Today, two smaller brokers – The Goodlife Team in Austin, TX and ARG Realty in San Diego, CA released these videos about their own decision to pull their listings out of syndication.
Here is the ARG Video ARG YouTube Video
Here is The Goodlife Team Video The Goodlife Team Video
In contrast, one of America’s largest brokers – Hoby Hanna of Howard Hanna made a huge investment in syndication and went all in. Here is story with this YouTube Video. Hoby Hanna speaks about syndicaiton