Listing Syndication and Triad MLS.com

Transcription

1 Listing Syndication and Triad MLS.com

2 Contents Glossary What is syndication? Who can syndicate listings? How are listings syndicated? What are the concerns? Where do you expect your listings to go? What do members think? Resources and Contacts

3 Glossary Aggregator A term used to describe an entity that compiles and stores listing data. API (Application Programming Interface) A set of rules and specs that allow communication from one software to another. Channel A public (non agent/broker) website to which syndicators distribute data; Portal. Not regulated by MLS rules. Derivative Works Use of information from a data set, other than the original intent; Re Purpose. EULA (End User License Agreement) Governs use by the individual user on a particular site, product or service. Enhanced/Featured Listing Added content or premium placement provided as an up sell to agent/broker by Publisher. Extended Network A shared search experience on a public website other than an original channel; Data doesn t leave control of the original channel, but remains resident in the original database. Framing; Powered by. Framing Surrounding the property search of Site A with the branding of Site B; data does not leave the control of Site A. Extended Network; Powered by. IDX (Internet Data Exchange) Website owned by an agent/broker wherein other brokers have given approval to each other to advertise listings. IDX sites are regulated by MLS. Opt in vs. Opt out In either instance, the broker is given the means to indicate his own choice as to the display of his listing data on a given national website/channel. Opt in the broker chooses to participate; Opt out all brokers listings are included unless the broker actively prevents it. Portal A public (non agent/broker) website to which syndicators distribute data; Channel; Publisher. Not regulated by MLS. Powered By Provider of information for a website; host or developer of website; property search of one national website framed to the branding of another. Publisher National website operator; Channel; Portal. Re Direct Link Link to the property detail page of the listing agent/broker s IDX site. Re Purpose Other use than the explicit purpose for which it was provided, often unauthorized; Derivative works. Re Syndication When a publisher to whom listings have been syndicated forwards that content to another, typically for display on another website. Syndication Method by which the broker can instruct the MLS to distribute his listing data to outside websites other than IDX and VOW. Transient Download Method of displaying data on a website by pulling data from another server, so that the data never leaves the original source (server).

4 What is Syndication? Syndication is a method for Brokers to authorize distribution of their listing data to consumer portals hosted by 3 rd parties Syndication allows a broker s listings to appear on national portals such as Zillow, Trulia and other sites such as Hot Pads.

5 Who can Syndicate? In Triad MLS, any broker who is an MLS Participant may authorize syndication of his/her company s listings only (Syndication is not like IDX). IDX authorizes brokers to display the listings of other Participants on their company websites and agent websites).

6 How are Listings Syndicated? The most common syndication method is by brokers through the use of a 3 rd party such as ListHub or Point2. Triad MLS uses ListHub Some Franchisors also syndicate listings on behalf of their franchisees. Triad MLS offers through ListHub Other 3 rd party software offer syndication options as well. Although Triad MLS does not enter into any agreements that allow anyone receiving data from Triad MLS to re syndicate or re distribute ANY listings received directly from Triad MLS, we do offer the syndication utility so that Brokers can optin for their listings only. Some MLSs offer a feed directly to consumer portals without the use of 3 rd party syndication partners. Triad MLS handles this on a case by case basis and any and all access to Triad MLS data is governed through very specific data license agreements. Triad MLS does feed all our Active Type listings to the following public consumer portals: Realtor.com and TriadMLS.com.

7 How Does it Work? Each major syndicator provides the ability for brokers to set up a free account through which they syndicate their own listings. Typically there is a dash board for the broker to select which sites he/she wishes to authorize to display their listings. Using the channel selections of the broker, listings are then distributed to the approved sites.

8 Duplication Listings delivered from various sources Outdated information Some sources do not regularly refresh Re Syndication What are the Concerns? Forwarding data on to another (unauthorized) site Unauthorized uses Have you affirmatively agreed to your data being used on Powered by sites Use for 3 rd Party Integration (Syndegration)

9 For Consideration There is no guarantee of accuracy when MLS is not the source of displayed listing. Are your listings going to places you are not aware of? (resyndication) Are you syndicating from more than one source? Are your listings being used for solicitation by 3 rd parties? Do you allow your agents to manually or independently syndicate? What risk might your MLS and/or your brokers have from incorrect info? Manually entered properties are often not updated and do not link to current info.

10 Concerns Duplication Multiple copies of the same listing are received by publishers (portals). Brokers may be syndicating through more than one party as many as four/five Agents submit listings manually (paid advertisements) How does the channel publisher select the listing to display?

11 Where you Expect to send your Data

12 Channels Extended Channels Concerns surround the use of MLS Listing data to power other websites via the data syndication to the approved Channel. Do you know where your data is being re displayed? Example: If you syndicate to: Oodle via Listhub or Point2, expect to find your listing data on: ABC, Comcast, Cox Media, Washington Post, Facebook, Fox Interactive Media, Florida Press Association, Lycos Classifieds, Local.com, Media General, Miliary.com, MySpace, New York Post, New York Times, and Walmart. Trulia powers: the Sun Chronicle, The Bakersfield Californian, Washington Post, KTVB, Killeen Daily Herald, KOMO News, St. Petersburg times, Press of Atlantic City, Bangor Daily News, Pegasus News, Kiplinger, and US News and World Report. The list of sites powered by Zillow is too long to list but it centers around Community Newspaper Holdings, Inc. providing listing data to numerous sites within 23 states. Source: ListHub Channel Scorecard

13 What do Members think about this? National Survey conducted by Clareity Consulting, % of Brokers surveyed support MLS syndication to publishers at broker's request 11% are neutral and 19% are in opposition. 53% participate in an MLS provided syndication service. 46% syndicate both via the MLS and independently or through a franchise. Among larger brokerage (over 26 agents), over 72% syndicate both via MLS and independently or through a franchise.

14 Data Accuracy Awareness National Survey conducted by Clareity Consulting, % are aware that non MLS syndication of listings is creating duplicate listings on web portals 70% are aware that many non MLS methods of listing syndication don t provide methods of keeping listings up to date. If you syndicate listings by means other than the MLS, do you keep them up to date and take them down when a property sells? 46% say ALWAYS 22% say SOMETIMES 32% say NEVER

15 Data Accuracy / Distribution Concerns National Survey conducted by Clareity Consulting, Are you concerned regarding the level of listing data accuracy on syndication portals? 78% Concerned 13% are neutral 9 % are not concerned 79% are concerned regarding unauthorized resyndication. Among larger brokerages, more than 83% are concerned. 52% expect that MLSs will "very aggressively" police syndication portals and protect listing data. Another 25% expect MLSs will "somewhat aggressively" do so.

16 Broker Action Items Log in to your Dashboard for ListHub review your options and be selective about where your listings are going. Read the Terms of Use for each site you select Research via ListHub s Site ScoreCard Check with Franchisor (if applicable) to see if they are also syndicating your listings. Check with Agents to see where they might be syndicating or manually uploading.

17 Resources Clareity White Paper "Syndication to Real Estate Portals": Problems and Solutions WAV Group Whitepaper "Syndication: A Single Source Solution" Clareity Survey "Broker Survey on Syndication Issues" Clareity State of Syndication 2013 and Beyond WAV Group Whitepaper "Listing Syndication 2.0" MLS Tesseract "A Listing Syndication Discussion" WAV Group Whitepaper "Listing Syndication Be Sure to Read the Fine Print

18 Listing Syndication Broker Stories

19 ARG Update: Life After Listing Syndication ARG of San Diego

20 Home Services Subsidiary Edina Realty Minnesota Broker stopped sending listings to Trulia in November 2011 Explanation? Third party channels use their website to: Drive consumers to their site Sell advertising & upgrades to agents and firms Sell referrals back to listing firm Sell referrals to the listing firm s competition The early benefits of permitting the free display of listings by these third parties has diminished over time. Multiple data sources cause problems with data accuracy.

21 Austin Brokerage pulls Listings, Ads from Trulia The Good Life Team joins Minnesota based Edina Realty and Dan Diego based ARG Abbot Group, in pulling their listings from third party real estate search sites. The Good Life Team cites ads for competing agents appearing on premium listings, by Andrea Bramblett, Wednesday May 2, 2012, Inman News Jack Responds to Questions About Truia De Syndication

22 Another Broker votes with their Listings In November of 2012, Northnagle REALTORS of Rochester, New York decided to stop syndicating their listings to Zillow or Trulia. Northnagle is one of NAR s 75 Top Firms.

23 Listing Syndication Controversy A national conversation with regard to accuracy and value New internet advertising costs continue to grow as national sites mature and change their revenue models There is no Right answer for all brokers Brokers need to make an informed decision If you make this a business decision, your agents have more to talk about with Sellers

24 Triad MLS Perspective Broker owns the listing, period. Broker controls where the listings of the firm are to be advertised IDX Newspapers National Syndication sites like Trulia, Zillow, Realtor.com, etc. TriadMLS.com (local consumer portal) Triad MLS facilitates this through the ListHub interface for Brokers as well as Data License Agreements in the case of entities like Realtor.com

25 Triad MLS ListHub Interface

26 How to get to ListHub? In Fusion, located in the Resources gadget under Real Estate Links In Tempo, located after expanding Sidebar under Real Estate Links Or, You can just go directly to ListHub.com

27 Creating a ListHub Account Head Brokers are the only ones authorized to Create an Account and can do so here.

28 Setting up a ListHub Account Maximum Marketing = ALL Channels Selective Marketing allows you to choose individual channels using your own business criteria or other options presented

29 ListHub Publishers

30 The devil is in the Detail!

31 An Extended Network In North Carolina

32 The devil is in the Detail! 1. Terms of Use 2. Scorecard

33 Terms of Use

34 ListHub Scorecard Available for every publisher within ListHub

35 The devil is in the Details! 1. Features 2. Ratings

36 Filtering Publishers Filtering options are available for you to determine what criteria best meets your firms advertising policies.

37 Filtering Options Mobile App Available Refreshes Daily No FSBO s Shows Broker Contact Info No Re Syndication Timely Listing Removal Posts Redirect Link Timely Support Provides Error Reports MLS Preferred Provides Metrics

38 Filtering Options Mobile App Available A software application designed to run on mobile devices such as smartphones and tablets. Mobile apps are downloaded onto the device and listings are kept current through frequent refreshes and updates. A mobile optimized website would not qualify as a mobile app. 16 of 65 total Publisher s have this feature. No FSBO s Publisher only accepts and displays listings which are represented by a licensed Real Estate Agent. 45 out of 65 total Publisher s do not display FSBO s No Re Syndication This site in no way re syndicates any portion of data outside its own network. All data received from brokers via ListHub remains resident in the Publisher s database at all times. Listings are exclusively displayed on sites identified in the ListHub Publisher description or Scorecard, which may include powered sites. No re syndication helps prevent duplicate listings being sent to various sites, reduces technical support complications of multiple listing sources and improves listing updates accuracy. It also allows listing distribution to be monitored and measured. 65 out of 65 total Publisher s do not re syndicate!

39 Filtering Options Post Redirect Link The redirect drives consumers to the listing page on additional sites where they can access extended property information, usually the corresponding listing detail page on a brokerage or agent s website. This provides the listing agent and brokerage additional lead generation and traffic opportunities. 61 out of 65 total Publisher s post a redirect link Provides Error Reports Publisher provides ListHub with detailed information about properties that encountered errors when trying to post. Additionally, Publisher provides ListHub the URL for each successfully posted property for tracking purposes. This provides richer feedback data to the broker or agents which allows them to modify their listing submission for maximum success. 37 out of 65 total Publisher s provide error reports Provides Metrics Publisher provides ListHub with listing level page views and inquiries (such as s, phone views or form completed, etc.) generated on the Publisher s website(s). This information is available to display in the ListHub subscriptionbased reports like the sellers and agent reports. The benefit is that the broker/agent then has information needed to measure and evaluate the results of displaying online listings on each site, and information to determine the cost benefit of paid advertising. 56 out of 65 total Publisher s provide metrics

40 Filtering Options Refreshes Daily Listings are kept fresh through daily updates. Publisher receives and refreshes listings one or more times daily. Due to processing schedules, it may take up to hours for changes made in the MLS to reflect on the Publisher s site. 56 out of 65 total Publisher s refresh at least daily Shows Broker Contact Information Publisher displays both the brokerage name and an address or phone number (or both) on the property detail pages. This info is displayed in plain sight and required no additional click to reveal the info. Displaying brokerage contact information increases the likelihood of compliance with required state real estate advertising requirements. 58 out of 65 total Publisher s show broker contact information Timely Listing Removal Publisher removes listings that no longer appear in the feed within 1 3 business days of their absence from the feed. Conversely, other sites may take up to two weeks to remove the listings. Timely listing removal ensures consistency, eliminated negative feedback from homebuyers and reduces the broker s liability. 64 out of 65 total Publisher s remove listings in a timely manner

41 Filtering Options Timely Support While ListHub support can assist with the majority of user data issues, when an issue must be escalated to the Publisher the response time can vary widely from Publisher to Publisher. ListHub tracks the average time it takes from our initial request for support to the Publisher, to the time when the Publisher initially responds to ListHub s request. The benefit of timely support is to swiftly rectify errors which result in lost sales opportunities for brokers and agents, liability for the listing broker, and negative feedback from home sellers. 64 out of 65 total Publisher s provide timely support MLS Preferred Triad MLS recommends these Publisher s because they meet at least five of the above criteria. They all post a redirect link to your website, show broker contact information with the listing data, remove offmarket listings in a timely manner, and provide timely support when errors occur. In addition, these Publisher s do not re syndicate your listing data outside their network. 34 out of 65 meet the minimum criteria specified to get the MLS Preferred label

42 When ALL Filters are Applied When ALL filters (except MLS Preferred) are applied, ONLY 5 out of 65 total Publisher s meet all that criteria!

43 When MLS Preferred Filter Applied When MLS Preferred filter is applied, 34 out of 65 total Publisher s meet all the Triad MLS recommended criteria!

44 Franchise Sitesilters are Applied Four Franchise Publication Sites

45 ListHub April 2013 Top 5 by Prop Views Stats Note that if all filters were applied we would only be looking at stats of only 5 Publishers. This chart just shows top 5 according to views and then TriadMLS.com. Publisher Listings PropertyViews ClickThruVisits Zillow 8, , Trulia 11, ,261 1,084 Homes.com 9,516 52, GovListed 9,017 40,709 9 HomeFinder.com 11,514 23,486 1,012 Listings PageViews UniqueVisits TriadMLS.com 16,385 42,428 5,788 ListHub Stat Headings Listings = Number of active listings that each agent has on the date of the report or the number of active listings in a property category as of the date of this report. The listing count may include properties that are no longer active but were at some point active during the time period of the report. Property Views = Occurs when a consumer clicks on a thumbnail view of a property to view more details, while still on the publisher website. Click Thru Visits = Occurs when a consumer is redirected from publisher website to a property page chosen by the company. Triad MLS Stat Headings Listings = Total Number of Listings available on site Page View = Page views is the total number of pages viewed. Repeated views of a single page are counted. Unique Visits = Unique Visitors is the number of unduplicated (counted only once) visitors to your website over the course of a specified time period.

46 Top 5 Sites Best Practices Score/Criteria Publisher Zillow Trulia Homes.com GovListed Best Practices Score Does NOT meet criteria as they include FSBO s on their site. Not MLS Preferred Meets all best practice criteria Does NOT meet criteria as they do not post a Redirect link back to firm/agent nor do they report errors. Not MLS Preferred. Does not provide error reports. Other than that, meets all other criteria. Is MLS Preferred. HomeFinder.com Does not provide error reports. Other than that, meets all other criteria. Is MLS Preferred. Note that if all filters were applied we would only be looking at stats of only 5 Publishers. This chart just shows top 5 according to Property Views.

47 Start with MLS Preferred Starting with the MLS Preferred filter offers the most relevant criteria for most members. However, as always, the Broker/Firm has ultimate choice in what to do with their listings.

48 Publisher Settings You can select options here that will govern how your selections are handled for any sites added in future. Provided they meet the criteria you have filtered, your listings would automatically start going to them.

49 Summary of Issues Advertising Money Accuracy Professionalism Violations of State Licensing Laws Protecting your Firm s Assets Duplicate listings Unauthorized sites Re syndication

50 Going Forward Develop an advertising plan. It gives you and your agents something to talk about when working with clients. Review the ListHub dashboard filters. Which ones make sense to apply based on your advertising plan? Review your office policies regarding agent advertising efforts Review advertising statistics provided by ListHub Set Publisher settings to apply the same filters to new ListHub Publishers.

51 Understanding reasons behind TriadMLS.com In order to help our members remain competitive amongst all these internet marketing strategies, TriadMLS.com displays and promotes listings, open houses and our participating members (AT NO ADDITIONAL FEE) to consumers and more importantly, drives traffic and leads to our member sites. Our three main objectives for TriadMLS.com are: Provide defensive strategy that helps Triad MLS Participating brokers push back third party websites from dominant positions Generate significant listing exposure and leads/traffic for our Brokers as a member benefit Reduce consumer reliance on third party websites by offering a local alternative with no sales pressure

52 Understanding reasons behind TriadMLS.com Thank you for your time and this presentation is available through your local Association!