Curtis Reddehase, a real estate broker in Austin Texas recently wrote announcing his decision regarding Listing Syndication
and why his brokerage will no longer be participating in that form of marketing. Several reasons were cited, but the 2 main reasons boiled down to:
1. He doesn’t want his listings to be utilized by the national sites, as a means of generating advertising revenue. He goes on to explain that the national real estate listing aggregators take his listings, use that to drive up traffic to their website – and then sell that traffic to advertisers for profit.
2. He has NEVER had a productive lead generated for as long as he has been participating in real estate listing syndication.
The use of real estate listing data, and determining what are the long term impacts of listing syndication, continue to be topics that are heating up and gaining momentum within the real estate industry.
Future questions that the real estate industry will have to deal with regarding this topic include:
Does listing syndication establish these national listing aggregator sites, or the local broker as the authority for the local real estate market?
If the national listing sites become established as the authority – what sort of fees will they start charging back to the local brokers?
Is it worth it in the short term to try to pick up a deal today by syndicating to these national aggregators? Is it worth it in the long term?
These and many more questions need to be answered. The real estate industry will have to continue to evolve to stay current with the ever changing technology that becomes available.