Listing syndication is an important component of marketing real estate properties. With so many syndication choices available, there are important factors to take into consideration when determining if how and when to syndicate your listings. REcolorado Syndication—Your Listing. You Decide. is in place to help you determine which syndication methods will best complement your marketing strategy.
As an REcolorado member, you determine where your listings are displayed. From IDX to syndication, we encourage you to be as informed as possible. To get started, take a look at the information and resources below:
- Syndication Checklist - Things to consider when choosing syndication publishers
- Syndication Frequently Asked Questions
- Syndication Pathways - How listings are syndicated
- Evaluating Your Syndication Options - Your Listing. You Decide
- Listing presentation Inserts - Advertise Locally - PDF, Advertise Locally PowerPoint
What is Syndication?
Syndication is the process of distributing listing information to third-party publishers. Third-party publishers include sites such as Homes.com, Realtor.com, Zillow.com and Trulia.com that display real estate listings, but are not broker or agent sites.
The Difference Between Syndication and IDX
Listing Syndication is different from Internet Data Exchange (IDX), or Broker Reciprocity. IDX allows participants to share their listings with other brokerages for public display on office and agent websites. IDX business rules help enforce legal and ethical restrictions that prevent brokers from advertising other brokers’ listings without permission. Third party publisher sites are not subject to the same NAR policies and rules that broker and agent IDX sites must follow.
How Your Listings Are Syndicated
REcolorado believes you should have the tools and resources to decide where your listings are displayed. There are several ways your listings reach third-party websites:
- Syndication Platforms: Syndication platforms distribute your listing information to third-party publishers.
- Individual Entry: Brokers and Agents have the ability to manually enter listing information directly to publisher sites.
- Vendor/Brokerage/Franchise Contracts: You or your office, brokerage or franchise may have contracts with publishers, like Zillow, or vendors, like virtual tour companies, that include syndication services.
- REcolorado Syndication Program - Through the REcolorado Syndication Program, you have the ability to select syndication channels as you enter each of your listings in the Matrix MLS system.
Evaluate Your Options - Your Listing. You Decide.
An effective approach to listing syndication involves close alignment with the business plan of your brokerage, and will vary depending on how you choose to syndicate your listings. Here are some important things to consider when deciding if, how, and when you should syndicate your listings.
Take a look at our Evaluating Your Syndication Options document as you consider the pros and cons of the syndication channels that are available.
Syndication - On a Positive Note
- Listing Exposure - The primary reason many Brokers and Agents display listings on third-party sites is to provide broad exposure to their listings in the hopes their property will attract more buyers.
- Budget Friendly - Online advertising can be a more budget-friendly option as opposed to traditional means of advertising.
- Seller Request - Today's seller often insists on broad Internet exposure.
Syndication - Things to Consider
- Data Accuracy - Third-party sites can contain inaccurate data including listing that are no longer for sale.
- Missing Listing Agent Information - Finding listing agent information can be Online advertising can be a more budget-friendly option as opposed to traditional means of advertising.
- Promotion of a Different Agent - Many third-party sites promote agents next to listings that are not theirs.
- Minimal Listing Exposure - Consult reports to understand how much exposure your listings are really getting.
- Costs Increasing - Do you research to determine the quantity and quality of the leads you are getting.
- Your Listing-Your Lead - Make certain you develop a marketing plan that focuses on funneling leads back to yourself.
- Re-syndication or "Powering" multiple sites - Review agreements to understand if your listing will be re-syndicated or used to power other sites.
- Multiple Sources - If you choose to syndicate through multiple sources, make certain only one data source is sending listing information to each publisher.
Monitor your Syndication Program
To determine how your syndication program is performing, evaluate it on a continuous basis. Most syndication strategies need to be adjusted based on the evolution of your marketing strategy, your brokerage, the market and the specific marketing plan for the listing.
- Start Simple- Begin syndicating to a limited number of publishers to determine what works best for your business
- Review Results- Monitor key factors including the number of leads you receive, site traffic, and other important metrics.
- Update Your Information- Make certain all contact information for your office and agents is correct in Matrix. This will help to ensure leads are routed properly.
- Reports- To evaluate syndication channels, take advantage of the great reports provided by your direct feeds My REcolorado Listing Metrics.