The shifting listing syndication ecosystem
At the NAR Annual Conference in November, the IDX Policy Presidential Advisory Group (PAG) recommended that Franchisors consider syndication as a means to source listings for display on their websites, in line with recommendations emerging from the PAG’s meeting in August to be crafted by a work group to be presented in May to the NAR MLS Policy Committee at the NAR Mid-Year conference.
Move, Inc., operator of ListHub, Realtor.com and TopProducer has been working with the Franchisors to implement the PAG recommendations, today announcing “The Real Estate Network” which will allow MLSs and Brokers (at their option) to syndicate listings to Franchisors and large broker networks (such as The Realty Alliance or Leading-RE). According to Move, this will, for the first time, enable these industry participants to display listings on their own sites (rather than linking off to third-party sites). This will also allow these Franchisors and Broker Networks to compete with non-industry sites like Zillow and Trulia.
Move has created a standard set of display rules that all participating Franchisors/Broker Networks have voluntarily agreed to abide by which Move says will ensure that brokers’ interests will be preserved and facilitate a level playing field among the participants. Century 21, Coldwell Banker, RE/MAX and Realty Executives are the charger members of the Real Estate Network and have agreed to a single set of 23 rules that will apply nationwide.
“ListHub’s Real Estate Network answers an industry need to promote listings on high-visibility franchisor and broker network websites in a way that maximizes and ensures broker control,” said Move CEO Steve Berkowitz. “As an organization committed to online property listing integrity and respect for the content owner’s rights, this is an industry-friendly initiative Move is uniquely positioned to lead. We are excited to expand the value we bring to our broker and franchise customers, as well as to our MLS partners.”
Advance press release from Move:
LISTHUB LAUNCHES REAL ESTATE NETWORK
Real Estate Brokers Extend Reach to Millions of Consumers Through Real Estate Franchisor and Broker Network Websites
Campbell, Calif., – (January 11, 2012) – ListHub, the largest syndicator of real estate listings, today announced the launch of the Real Estate Network (REN) to extend the syndication of property listings to highly trafficked websites operated by real estate franchisors and brokerage networks. ListHub’s Real Estate Network will be available at no charge and as a voluntary syndication option for brokers and Multiple Listing Services (MLSs). ListHub is operated by Move, Inc., (NASDAQ:MOVE), the leader in online real estate.
Century 21, Coldwell Banker, Realty Executives International, and RE/MAX are among the first publishers to join the network at launch. Together, these publisher websites attract 4,331,000 million unique visitors# each month. ListHub expects to add additional franchisor and broker network websites to the Real Estate Network in the near future.
“ListHub’s Real Estate Network answers an industry need to promote listings on high-visibility franchisor and broker network websites in a way that maximizes and ensures broker control,” said Move CEO Steve Berkowitz. “As an organization committed to online property listing integrity and respect for the content owner’s rights, this is an industry-friendly initiative Move is uniquely positioned to lead. We are excited to expand the value we bring to our broker and franchise customers, as well as to our MLS partners”
With the launch of REN, the 376 MLSs and 43,000 brokerage firms currently distributing listings through ListHub may now choose to send their listings to one or more sites within the network with one easy click. Participating brokers and MLSs retain full control over where their listings are and are not syndicated to within the network. One set of standardized, industry-friendly rules will govern the display of listings on publisher websites in the network, and can be found at: https://www.listhub.net/networkrules.html. Franchisors themselves will also participate in the network, displaying each other’s listing inventory on their websites.
Mike Pappas, president and chief executive officer of The Keyes Company, a real estate brokerage based in Miami, Florida said, “We have promoted our listings on competitors’ websites for years through IDX to maximize the marketing value we deliver to our sellers, and we view the Real Estate Network as an extension of that effort. As long as I can control where my listings go, and can rely on clear rules for how they are displayed, I welcome this additional distribution.”
“We are pleased to expand the distribution of our brokers’ listings through the Real Estate Network, and enhance our franchise brands’ online listing distribution strategy,” said Alex Perriello, president and chief executive officer of the Realogy Franchise Group. “We believe our brands’ participation in the Real Estate Network ultimately will result in a better online experience for their customers.”
“ListHub’s Real Estate Network will enable us to offer accurate and timely information for display with a single set of nationwide display rules so we can connect with more consumers and drive more value for our sales associates,” said Margaret Kelly, chief executive officer of RE/MAX. “The Real Estate Network is a welcome opportunity to compete on an equal footing with non-industry sites and provide broad exposure for listings represented by many different brokers.”