The following Broker Bullet was sent directly to all NNRMLS Participants on October 21, 2014. Please contact Shelley Specchio, NNRMLS Chief Executive Officer, if you have any questions: firstname.lastname@example.org
Syndication: NNRMLS is negotiating for better display for our members on 3rd party websites and protection against any display if the broker has opted out! Starting with Zillow (Announcement 10/22)
Early in 2014 Brokers met at forums to discuss the problems with Syndication.
Based on Broker and Agent input we know:
- Members are frustrated by inaccurate data on 3rd party sites.
- Your clients are frustrated by inaccurate or misleading information on 3rd party sites.
- Inaccurate data on 3rd party sites reflects poorly – not on the site – but on the agent.
- Members are frustrated that they are forced to spend money just to get their picture on their own listing on 3rd party sites.
- Members feel forced to buy their own leads back from 3rd party sites.
- Many members mistakenly believed that the MLS controlled the syndication of listings to 3rd party sites (it has always resided with the Broker).
- Agents often employ virtual tour companies or other methods to send listings to 3rd party sites because they don’t know that their Broker is doing it for them.
Brokers and the NNRMLS Trustees made the decision to continue to provide Syndication avenues for those brokers who wanted listing data to go to 3rd party sites and protect the choice of brokers who did not.
The first step was to work to relieve the pain in the market place by negotiating directly with the largest websites. We started with Zillow. On Wednesday, October 22, 2014 you will see an announcement that we have signed an agreement to give Zillow a direct feed (based on broker option and Seller’s “Internet Yes or No” option at the listing level) every 15 minutes. This will ensure that current, active listings always are up to date, accurate and in sync with the MLS data.
Also, in exchange for the 15 minute updates to Zillow, NNRMLS agents from participating brokerages will be prominently displayed as the listing agent on all their listings, be able to receive leads directly from Zillow and have daily reporting access. Participating brokerages will receive attribution, branding and a link back to their website. Most importantly the listings will accurately display the status of the listing. Listings that are received by Zillow where the listing broker has opted NOT to participate directly from NNRMLS will be REMOVED from display. (Some virtual tour companies, for example, will send listings without current update or broker approval)
Next NNRMLS will begin talking with Trulia and Homes.com – to join with Realtor.com and now Zillow – to ound out the top four 3rd party real estate websites and get the best attribution and terms for our members.
All of this negotiation is to use our collective bargaining power to ensure the agents and brokers of the Northern Nevada Regional MLS who want to interact with consumers over large 3rd party websites can do so based on accurate, timely, and reliable listing information. Our goal is to keep our members central to the real estate transaction through professionalism and accuracy.
For more information on the NNRMLS Syndication Plan, please click on the link:
You may direct all questions to Shelley@nnrmls.com