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.