Connect with us

Business News

Knoxville Area Association of Realtors stops syndicating real estate listings

After seeing brokers pulling their listing data from individual aggregators like Zillow, Trulia, and Realtor.com, a Tennessee trade group has followed suit, but there is no consensus as to whether this is a positive or negative event.

Published

on

KAAR Board of Directors makes a big decision

In an email provided to AGBeat by a Knoxville Area Association of Realtors (KAAR) member, the Association announced the following:

“At last week’s Board of Directors meeting, upon a recommendation from the MLS Committee, the Directors approved to stop syndicating all MLS listings to Zillow, Trulia, Hotpads and Yahoo Real Estate. This action was taken because of numerous complaints from agents and sellers regarding inaccurate listing information on the sites.”

Real estate listing syndication has long been a contentious industry issue, but as more boots on the ground have learned the full implications of data and data accuracy, the last year has proven to be especially heated and controversial. Companies as small as two agents all the way up to mega franchises have been making decisions about whether or not to syndicate, and reasons for pulling listings have begun to vary this year, led by Edina Realty, one of the first to publicly pull the plug, and others like Prudential Kansas City, ARG, and others have made similar decisions, with some pulling all syndication, and others picking and choosing winners between the aggregators.

Until now, however, Associations have mostly left the decisions up to individual brokers, but with KAAR’s decision, we will likely see a handful of others following suit – monkey see, monkey do, after all.

The move has seen praise, but has also generated many questions from industry insiders. Russ Bergeron, CEO of Midwest Real Estate Data (MRED) asked in the AG Facebook group, “Does this mean that prior to this all listings were being sent from the MLS to these sites regardless of the brokers wishes? Or does this just mean that the MLS will no longer facilitate the shipping of listings at their brokers’ requests? Is the MLS still sending listings to ListHub and/or Point2 and allowing brokers to make their own decisions as to where their listings should go via those distributors? Is KAAR instituting a rule that brokers can no longer display their listings on any of these sites? What about other sites like Homes.com, realtor.com, AOL, msn, Homefinder, et al?”

Is this a means to block syndication? It doesn’t appear so…

Celeste Starchild, VP of Sales and Marketing at ListHub said in the group, “ListHub continues to be available to all Knoxville brokers. In the past, this MLS syndicated to several sites automatically by default. Now, listings will only be syndicated if the broker creates a ListHub account and makes these choices proactively. For those Knoxville brokers who already created a ListHub account, settings will remain intact and syndication will continue according to the ListHub account.”

John Whitney, President of Industry Relations at ListHub added, “The MLS decided to not make choices on behalf of their brokers. But, everyone still supports broker choice… that MLS sourced data is the most accurate. We don’t want to create an environment that depends on listings from other sources. The best thing we can do is give brokers a wide variety of options, tools to make informed choices, a single platform to manage their online marketing activities, and deliver quality data to those sites to create the best consumer experience possible.”

Industry opinion on syndication pulling

Past KAAR President and current member, Jim Lee made a keen observation, noting that “If not every broker in KAAR chooses to go the Listhub route then Trulia, Zillow, Hotpads, and Yahoo Real Estate won’t be able to say they have ALL the listings for sale in the KAAR MLS.”

Arizona Realtor, Jonathan Dalton said, “Bold prediction… pulling listings from Zillow and Trulia will have exactly ZERO impact on the Knoxville real estate market. Sales will take place at the same pace, for the same prices and in the same amount of time post-syndication as they have pre-syndication.”

Elsewhere, Dalton wrote, “from the way it reads, the association didn’t pull the plug on syndication because it believes in broker choice. To say a decision on the MLS level is insignificant is short-sighted.”

The American Genius is news, insights, tools, and inspiration for business owners and professionals. AG condenses information on technology, business, social media, startups, economics and more, so you don’t have to.

Continue Reading
Advertisement
6 Comments

6 Comments

  1. JonathanDalton

    September 24, 2012 at 2:35 pm

    Here’s my extended train of thought … Zillow has gotten where it has largely on the back of public relations. The data’s mediocre, the Zestimates are wildly inaccurate and finding a real home for sale is like bobbing for apples. Yet it continues to be quoted in the MSM because it puts itself (and Spencer) out there for anyone with a microphone.Having an MLS pull out, even if the brokers still can syndicate, makes for poor public relations – “if it’s such a wonderful place to sell homes, why would any MLS not support it?” Remember, no one cares about the details else Z wouldn’t be where it was.  

  2. Ozarksagent

    September 24, 2012 at 3:20 pm

    Some MLS’ syndicate to Point2Homes and they provide Trulia, Zillow and dozens of other sites with listings so what is to be gained by not making sure they all just get correct info instead of second-hand info that creates the problems they are upset about?

  3. Rob McCance

    September 24, 2012 at 7:37 pm

    I’ve long said that this data is created by and belongs to the Agents that populated it….for our own use.
     
    And our own use includes using it as bait in search engines on our sites to generate leads for OURSELVES.
     
    Why anyone would just give this data to companies like this in the first place is beyond me…
     
    Rob in Atlanta
    http://www.atlantarealestateinfo.com/
     
     

  4. J Philip Faranda

    September 25, 2012 at 8:16 am

    So now agents must opt in via Listhub instead of having the feed sent automatically. This is not that earth-shattering.  

  5. joemspake

    September 25, 2012 at 10:25 am

    It sounds to me like this is just a transition from broker opt-out (from a comprehensive feed to List Hub) to opt-in.  Seems to be a healthy choice for  all boards and MLSs to have a look at.

Leave a Reply

Your email address will not be published. Required fields are marked *

Business News

New company beats Amazon with next morning delivery?

(BUSINESS NEWS) Amazon has to watch it’s back in South Korea, Coupang has a better offer than 1-2 day shipping, what a bout next morning shipping?

Published

on

delivery services

What if I told you Amazon Prime’s, 1-3 day guaranteed delivery time isn’t the fastest e-commerce service the world has to offer? You would think I’m lying right?

Coupang, one of the world’s fastest delivery services located in South Korea, allows you to order any item, anytime before midnight, promising that it will be at your doorstep by 7am! (I wasn’t lying!) With 70% of its employees living within a 10 minute radius of a Coupang center, 80% of residents residing in populated cities and 95% of it’s population owning a smartphone, South Korea has become the perfect e-commerce epicenter. Coupang employees over 10,000 people who together deliver 99.3% of all orders within 24 hours. Imagine it’s Tuesday night, you’re falling asleep and suddenly remember you forgot to get your wife a present for her 50th birthday tomorrow. You have two options: accept your fate of being put in the dog house for three long weeks, or quickly order a few great items off Coupang’s website that’ll be delivered BEFORE she even wakes up!

Like Amazon, Coupang allows its customers to create a profile, store desired products in a list, and check out using your saved payment method. Half of South Korea’s total population of 51.6 million has installed Coupang’s app with a surge of people trying Coupang for the first time during stay at home orders due to the Coronavirus pandemic. The company struggled to meet fulfillment demands, especially those including PPE, household cleaning products, and children’s necessities. While many companies are struggling to stay afloat, Coupang is quickly adapting to meet consumer demands. In March, the company opened a new logistics center to expand its overnight/same day delivery services and is currently working to reach an even broader population.

Believe it or not, right before Coupang received a $2 Billion investment from SoftBanks, its founder, Kim Bom debated walking away from it all. Bom founded the company in 2010, receiving the investment in 2018 and is expected to pursue an IPO by the end of 2020. So for all of you entrepreneurs wondering if you should give up on that decade long dream…DON’T. Coupang went from selling a few hundred items each day to 3.3 million. Now that’s what you call entrepreneurism!

Continue Reading

Business News

Google plans to pay publishers for content (a little too late)?

(BUSINESS NEWS) Google will finally pay publishers for news, but only a few, and they have to meet Google standards.

Published

on

google, bad

I mean…could you get any greedier Google? (Chandler Bings voice).

After years and years of pressure and complaints from publishers that Google’s search feed doesn’t properly recognize them or the news they work so hard to report, Google has finally announced that they will begin to pay publishers for content. But only some.

WHAT A LOAD OF BS.

According to the News Media Alliance, Google profited 4.7 BILLION in 2019 as a search engine for the news industry. So now, not only is Google fleecing its content providers and the writers who are working to create material for them, but it’s quite likely that Google’s algorithm is pushing paid news to the top of its search feed. What does this mean for users? It means that for one, you will see what they want you to see, but most importantly, it means that Google HAS the money to pay its publishers but chooses not too!

Google’s announcement to start paying publishers excludes all publishers outside Brazil, Germany, and Australia. Even within the countries that Google closed a deal with, there are many that do not meet its “high quality content” requirement for a paid position. The problem with all this nonsense is that we stopped letting the news come from others like us, and instead, according to the U.S News Media Alliance, the news is entirely owned by a handful of companies. You may have 635 channels on your TV, but if you google…or maybe you should duck duck go it, you’ll find that all those channels lead back to one huge organization.

SO WHAT THE HELL IS GOING ON?

Google has definitely been pressured to make some big changes, and while paying publishers is a good first step in the right direction, is it enough to make up for years of damage?

Continue Reading

Business News

International start up turns LinkedIn profiles into resumes

(BUSINESS NEWS) Rezi is an AI driven app that can turn LinkedIn profiles into resumes within minutes. Save time and optimize your chances of getting noticed.

Published

on

resumes

If you have already put work into creating your LinkedIn profile, you can parlay that into a resume with a plug-in download and a few clicks thanks to the AI-powered resume builder, Rezi. The company started as a weekend project in 2015 by CEO and Founder, Jacob Jacquet, to address the challenges his recently-graduated friends were having with writing hirable resumes.

According to the Rezi website, the company began by studying resumes and how they interacted with Applicant Tracking Systems (ATS), which companies use to manage online applications. Rezi wanted to educate job seekers on ATS while developing resources to create optimized resumes. This effort began as a resume template offered on a WordPress site. Once it hit Reddit with an explanation of the success of the resume, it quickly gained traction. Rezi then decided to focus on the South Korean job seeker market and became the most recognizable global startup in Seoul, according to the Rezi website.

The company’s next step was to go the direction of software as a service (SaaS) and support job seekers who wanted to make a resume in minutes. Rezi now offers a free plug-in version where users can transform their LinkedIn profile into a resume.

They also offer AI keyword targeting which helps users write resumes tailored to the job description for which they are applying by giving you keywords to include from a pasted job description that would best accommodate ATS filters. In addition to resume keywords, Rezi can also identify formatting errors such as missing bullet points, buzzwords, and useful content. Flexible formatting tools allow users to customize resume aesthetics such as font size, line height, and zoom level right within the app. The Rezi Score tool will then give instant feedback to guide resume formatting.

They also offer professional resume writers to edit resumes and provide suggestions and tips to improve content. One of the most unique features of this offering is that Rezi offers a private, updated, and sharable link to your resume. Users can get started for free but monthly plans range from $3-$9 and quarterly plans from $8-$89.

Continue Reading
Advertisement

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!