MLS Operations
Listing Data Distribution
Task Force
Online Presence is a MUST
A poll by the National Association of Realtors, reveals 90% of buyers go online to search for a house.
Moreover the research showed that even the home buyers using agents still use the Internet to supplement their home search.
The majority of home buyers are still using real estate agents, but they're utilizing online sources to conduct research and look for homes first.
ZILLOW – TRULIA MERGER
The Economist’s Case Study Challenge SDA BOCCONI
What are the Online Options?
The Big Three – aka ZTR
• Zillow.com
• Trulia.com
• REALTOR.com
• Plus – hundreds of other “syndication” sites
• Broker and Agent Websites
Who is News Corp?
October, 2014 - News Corp purchased Move Inc Move Inc
• The company began by working with the National Association of Realtors (NAR) to host and manage the listings of Realtors nationwide in the mid-1990s - the company operated as RealSelect, Incbetter known as Homestore.
• In 1999, Homestore went public, and raised $140 million. NAR retained a significant equity position.
Products and services
Realtor.com
ListHub - acquired in 2010
Plus: Move.com; Top Producer;FiveStreet;Moving.com; SeniorHousingNet; HomeInsight; Homefair; Socialbios; TigerLead Solutions;
Realtor.com – Feb 10, 2015 ….. The National Association of Realtors may no longer hold an ownership stake in realtor.com operator Move Inc. or have a seat on the company’s board of directors, but the trade group appears to be committed to promoting the realtor.com brand.
Listhub – Syndicator - Zillow made the disclosure in a filing with the Securities and Exchange Commission filed on Tuesday. In the SEC filing, Zillow said it is ending its four-year listing agreement with Threewide Corporation. Threewide operates Listhub.
Threewide is owned by Move, Inc., which operates Realtor.com for the National Association of Realtors. And Move is now owned by News Corp (NWS).
Sept. 4, 2014 Move, Inc., today announces the acquisition of the listing syndication arm of Point2.
Simplistically : NewsCorp = Move Inc =
Realtor.com = Listhub = Point 2
Who is Zillow?
Zillow is a media company that generates revenue by selling advertising on its web site. It operates the largest real estate and rental advertising networks in the U.S. in partnership with Yahoo! Homes! Through the Yahoo!-Zillow Real Estate Network and the
Zillow Rental Network, advertisers get the value of having their listings distributed to the largest audience of home shoppers and renters in the U.S. via Zillow.com, Zillow Mobile and Yahoo! Homes.
Zillow is divorcing from Listhub
REALTOR.com
1. Realtor.com is not NAR – NAR owns the URL realtor.com
2. Realtor.com is operated by Move Inc=News Corp=Listhub
3. Their business model can equate to that of Zillow, Trulia
4. Realtor.com is ONE of 2 sites that are provided a direct feed, by Cincinnati MLS, on behalf of the Brokers.
5. Point 2 Syndicator was also provided a direct feed on behalf of Brokers – who was just purchased by ListHub
“After hearing enough noise from our agents and clients (about problems arising from inaccurate data), we decided to make the move,” Pat Riley, President and CEO of Allen Tate Realtors - Inman News
http://www.inman.com/2014/10/01/alan-tate-realtors-pulling-listings-from-zillow-trulia-and-doubling-down-on-realtor-com/
Source: 21st largest Broker in the Nation in 2014, based on Volume
Issues with Syndication
1. Inaccurate / Untimely information
2. Misguides the Consumer
These Marketing Sites are For Profit and get their money:
1. Through “premium membership” to get priority for
leads on agents’ own listings.
2. Advertising
What do they pay to get the listing data to run this
business: $0.00
• Is the headache of educating your clients on why it’s
inaccurate worth it?
• Do we want to distribute our data to these
companies for FREE just to turn around and buy it
back?
• Do we keep our information private (modify
Cincinnati MLS distribution policies) and allow
Brokers to distribute their own listings when and
where they choose.
• As REALTORS, we need to come together and choose
to only use accurate, pro-agent, resources that build
our personal businesses and industry.
• As REALTORS we need to decide the best path and
stay the course.
• If we boost the online presence as individual brokers
then we can provide accurate information to
consumers and maintain control over the leads.
(what will the impact be to smaller Brokers?)
New Corp MoveInc Realtor. com ListHub Many Syndication Sites – Minus Zillow Point2 7/2013 – Allowing Non MLS Data to be Displayed Zillow Trulia MLS’ Data Feed Cincy Public Facing Website National Broker Portal
