Move, Inc. announced this morning that it has acquired the listing syndication arm of Point2 and that the combined platforms will offer greater value to brokers and MLSs through increased accuracy, elimination of duplicate information, and the creation of a single, unified syndication platform. Terms of the deal have not been disclosed.
ListHub, Move’s listing syndicator will assume Point2’s syndication relationships with 112 MLSs in the U.S., representing more than 900,000 listings. The combined network will now provide information from more than 600 data sources, and distribute approximately 3 million listings nationwide, or close to 85 percent of residential listings in the country.
“This is a critical step toward our vision of a single industry platform to manage listing, agent, lead and other analytics information in a single platform, which is an important component for the largest brokerages and franchises that span multiple MLS markets,” said Luke Glass, executive vice president of industry platforms for Move. “Once the transition is completed, these listings will be protected under ListHub’s stringent terms that guide the responsible and fair exchange of value between content owners and publishers, while brokers will have a single point of control through their dashboard. This model offers significant advantages to the industry in improved online listing accuracy, a single platform for MLSs and their largest brokerages and franchise members, and streamlined service for the publishers who strive to serve the industry through marketing websites and other software solutions.”
Glass said the acquisition enables ListHub, as a single, trusted source for online listing syndication and reporting services, to deliver even greater value to MLSs, brokers and real estate publisher websites. Combining the two platforms will reduce listing duplication and data fragmentation, reduce online listing inaccuracy through ListHub’s rigorous requirements, and provide more accurate metrics and measurement of online marketing across numerous websites.
In an interview with RISMedia Thursday, Glass added, “There was a fair amount of duplication between the two systems, and it’s a real problem when you have information in different places…ultimately streamlining the platforms is a great value to brokers who now have a single platform to get all the data in one place for the vast majority of listings. This cleans a lot of that up and brings everything under one platform. We’re very excited about that.”
Providing background on the development of the acquisition, Glass said that in the listing syndication area, Move and Point2 had been competitors in the space but found common ground in their vision of creating a single listing platform. “We found that we have more in common than what we differ on…and this was the perfect recipe at the right time to combine platforms.”
ListHub’s data agreements with publisher participants ensure that the listing data provided by ListHub is used for consumer display only, is supported and removed in a timely manner, and meets high standards for broker and agent attribution. Point2 customers who transition to the ListHub platform will be provided with the same content protections.
MLSs new to the ListHub platform will benefit from ListHub’s comprehensive toolset, including protective terms for listing content, lead management controls, and reporting. With ListHub, broker members will continue to have full control over their syndication, with the ability to opt-in/opt-out of syndication or specific publisher websites in the ListHub network. The ListHub network offers broad online coverage, including exclusive access to Freddie Mac’s Homesteps.com, Fannie Mae’s HomePath.com, and both the Franchise and MLS Real Estate Network (REN), enabling brokers to advertise their listings on franchise and MLS websites. Additionally, ListHub’s MLS partners have the ability to redirect traffic to their own public websites and include the MLS public site traffic statistics in the ListHub reports to better quantify the value the MLS provides to members.
“ListHub was a pioneer in the early days of syndication, and today we continue to innovate and evolve to increase the return on investment that real estate professionals receive from third party publishers,” said Celeste Starchild, general manager for ListHub. “We have made a significant investment in our reporting platform by adding more metrics across more publishers, including mobile apps, and making strides in delivering the highest quality in real-time metrics analysis. 2014 has been a year of record growth, with an average of 800 new brokerage accounts per month, organic growth of 55 new MLSs, our recently announced relationship with Systems Engineering, Inc. (SEI) to serve its 130 MLS customers, and now, consolidation with Point2. Point2 customers will now have access to the gold standard in marketing analytics and IP protection for their content to help them drive more effective online marketing programs and reach more online consumers while ensuring control of their listing content.”
Point2, operated by Yardi Canada Ltd., will continue to provide its signature real estate solutions including Point2 Agent, Point2 Homes, agent and MLS public websites, IDX tools, mobile applications, and additional tools to help real estate professionals be more productive and competitive.
“Both Point2 and ListHub serve brokers and agents by helping them to expand their digital presence online,” said Gordon Morrell, chief operating officer of Point2. “As the industry evolves, we want to stay focused on providing the top quality programs and services Point2 is known for throughout the United States and Canada. We believe that ListHub has shown leadership in syndication and contract alignment by ensuring that the agreements with publishers align with the intentions of the content owners, and moreover we believe it’s in the industry’s best interest to have a single, managed pipeline for feeding data to those websites. We are confident that this strategic shift lays the best framework for the future for Point2, ListHub, the industry and for our customers.”
While the acquisition has been completed, ListHub and Point2 will work collaboratively over the coming months to ensure a seamless transition for all customers.
Glass said they are implementing a six-month window to work with publishers and transition the data feeds. He said the company’s number-one goals is to provide a “totally seamless transition,” and not upset the broker’s day-to-day business.