Tag Archives: Edina Realty

Brokerage Control Over Listings: One Small Data Sample

Command and Control...

Command and Control…

At the Midyear meetings, I got into some conversations with fellow attendees about the whole MLS public website debate. Obviously. Again. Still. It was a lot of fun, and interesting thoughts were shared. But given that I have written that agent teams are the biggest threats to brokerages, I kinda got curious about something.

Just how much control do brokerages actually have over their listings?

Legally speaking, it cannot be argued that the broker owns the copyright to all of the listings. The MLS owns the compilation copyright, and may acquire a license from the member broker to use the listing data, but the broker owns the data. Period. They can do whatever they want with those listings — syndicate them, not syndicate them, put them on the Web, put them on billboards, whatever strikes their fancy.

But practically speaking, since the listing agent is the person who acquires the listing, and there’s plenty of competitive pressure between and amongst brokerage companies, I got to wondering just how much control a broker actually has in practice over their listings.

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In Which I Solve the Syndication Problem, Once And For All

 

Solved! Once And For All...?

Let’s suppose that you’re some graduate student at Beijing University and you want to write a paper on the major issues confronting the American real estate industry. So you start googling and going to blogs (like this one maybe) and open groups on Facebook and whatnot to find out what critical issues are top of mind for brokers and agents in the United States. Given that you hail from a country that doesn’t allow private ownership in land, you figure that the Americans are way ahead of you in terms of dealing with important issues that might come up as China liberalizes its real estate policies. Plus, you’ve read the news, you keep up with what’s going on.

Would the major issues be the precarious state of housing finance? Maybe American real estate professionals are all about Qualified Residential Mortgage rule. Maybe it’s dealing with the advances in Big Data. Maybe it’s trying to figure out how advances in artificial intelligence would impact things.

No, actually, our Chinese graduate student would likely find that the #1 issue on the minds of American brokers and agents is syndication. Quite literally, hundreds of thousands of brokers, agents, consultants, MLS executives, Association leaders, and vendors are talking about, debating, and getting riled up about basic questions such as, “Should I send my listings to Zillow?”

I believe it is well past high time to get over syndication. It simply is not and should not be an issue of import. There are more important things to discuss as an industry.

Therefore, in the spirit of public service, I will draw together the many strands of thinking on syndication and show that the problem has been solved. Most of this appears elsewhere on this blog or in public speeches I’ve given, but let’s see if we can’t put it all in one place for easy consumption.

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Reviewing My 2011 Predictions

Self-Graded Exams Are Easy!

In 2009, I batted .600 in predictions for 2010.  And I thought that was fun. It’s one thing to make predictions; it’s another to look back and see how those predictions fared.

How did I do last year in predicting events of 2011? I was hoping to be maybe 1 out of 7, since most of my predictions last year were of the doom-n-gloom variety. Sadly, I think I’m 4.5 out of 7 for a .642 batting average. Hall of Fame (Infamy?), here I come.

We’ll review my take on the predictions for 2011 after the jump.

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