Syndication & Your Business

Commentary by Saul Klein

RISMEDIA, May 15, 2008-Today, the word “syndication” is used in the real estate industry to express the distribution of listing information to various websites and/or Web portals.

While it was once thought that exposing a listing in one spot on the Internet and driving consumers to that spot (the early theory for Realtor.com) was the best way to market a listing on the Internet, in today’s Internet environment, this no longer makes any sense. Why? Because a real estate listing is a marketing asset owned by the listing broker, and, in addition to the direct economic benefit of having a listing, it provides other, less tangible benefits, including increased brand awareness and the ability to attract new buyers and sellers.

On the Internet today, distribution trumps destination as content moves to where users go, and users go to many different sites-Yahoo!, Google and Craigslist, for example.

Remember, a listing is a marketing asset. It is important to note that not all listings sell and, consequently, commission dollars are not earned on every listing. However, costs are incurred for every listing. Part of the value proposition in the taking of a listing, and the advertising and marketing of that listing, is the marketing and brand benefit the brokerage derives. Multiple sites result in maximum exposure.

Having to enter listing data at multiple Internet locations is time consuming, and more companies today are providing a “single point of entry” and then distributing the content to various websites for brokers. One of these syndication companies is Point2 Technologies (http://Point2.com), which currently syndicates to 29 partners.

The various websites to which Point2 customers can syndicate their listings not only gives the broker (and agents) greater branding and exposure, but it also generates leads. These leads are then seamlessly passed back to the members.

Additionally, when a listing broker advertises their listing or listings on syndication partner websites, the listing exposure is tracked. As a result, the listing broker can see which syndication partners provide advertising and marketing value to the listing broker. The listing broker can use this information in a variety of ways, including providing feedback to sellers as to the traffic the listing generated.

Saul Klein is a Realtor and nationally recognized speaker and consultant. He is CEO of InternetCrusade as well as Point2 Technologies.

For more information, contact him at syndication@saulklein.com.

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