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home listing syndication — Home listing syndication (infographic via trendmls.com)

Your home listing is a hot commodity! Not just to home buyers looking to buy, but to those who buy and sell information on the internet. MLS home listing information syndication is big business.

Much of what you see, hear, and read on TV, radio, and the internet is syndicated and distributed through a broad network of affiliated outlets. The purpose is to have as large of an audience as possible. The larger the audience, the larger the advertising revenue. Syndicating and distributing media content has been around for a very long time, and has been very a lucrative industry for those involved.

Internet syndication is no different and has become sophisticated, such that websites will pay for licensed content. The content attracts visitors and generates revenue via ads and/or pay-per-click. Needless to say, internet syndication has developed to become a multi-billion-dollar industry.

When you think about making money in real estate, you probably think about buying and selling property, not the internet. Most people don’t realize that real estate information generates $billions on the internet. Real estate portals generate revenue by publishing content that attracts home buyers and sellers. The sought after content, of course, is your home’s MLS listing. Websites generate income by selling real estate and other professionals access to consumers who visit their sites to view your MLS listing.

You may not know this, but your home’s listing is copyright-protected by your agent’s Multiple Listing Service. The content is licensed and syndicated to internet real estate portals and other publishers for a fee. How much do websites pay for MLS licensed content? Heck, you’d be hard pressed to find that information, much less acknowledgement that there is a fee paid at all! And I suspect that information is not readily disclosed because consumers would be up in arms if they knew.

However, an article by Natalie Sherman appeared in the Baltimore Sun on January 27, 2015 (MRIS looks to partner with Zillow) gives a hint about the monetary relationship between MLS boards, syndicators and publishers. Ms. Sherman wrote:

“Under the current system, Zillow pays to receive listings from Listhub.com, which has agreements with hundreds of multiple listing services, including MRIS, to provide syndication services to sites such as Zillow. Earlier this month, Zillow and Listhub said their existing deal would not be renewed.

A representative for Zillow, which has been working to establish more direct relationships with brokers and listing services for years, said a new deal would help keep the site more up to date.”

The article refers to the 2015 shakeup of real estate listing feeds to specific websites, such as Zillow. At that time, Zillow sought direct deals with individual MLS boards, such as our local MRIS (now part of Bright MLS), to get MLS home listing feeds.

Chances are that you are unaware that the information about your home that is uploaded to the local MLS (including pictures of your home) become the property of the MLS. Much less, you may not know that the information is licensed to others for a fee to be used on other websites.

Even though the MLS boards charge subscription fees to agents for the privilege of uploading and viewing content, they might argue that the fees generated by licensing and selling your information helps maintain the MLS system. However, not disclosing this aspect of the real estate listing poses some ethical questions that must be addressed.

Of course, there are real estate brokers who have opted-out of syndication of their MLS listings. These brokers want to retain control of home listing information to ensure accuracy and maintain professionalism when presenting your home to the public.

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Disclaimer. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.

Aerial pictures and video may seem cutting edge, but you should consider a number of issues before agreeing to have a drone flying over your home and neighborhood.

The Bulletin of Photography Volume 15 (published in 1914) includes an article about Des Moines, Iowa real estate agents contemplating a “scheme” of photographing homes. The photographs were to make touring homes easier for busy clients; agents were to have four photographs per home in their exclusive portfolios. Real estate photography has come a long way since 1914. Today, home sellers expect dozens of high resolution pictures and even video to market their homes. In addition to the typical media array, some agents promote aerial photography to capture different perspectives of large estates, farms, and acreage.

Aerial photography has been around almost as long as commercial photography. According to the Professional Aerial Photographers Association (professionalaerialphotographers.com), the idea of aerial photography was patented in 1855; however, the first known aerial photograph wasn’t taken until 1858. No one knows for sure when aerial photography was first used for real estate sales, but you can bet it that it probably coincided with the broad acceptance of real estate photography. Although aerial photography has been accomplished by helicopter, balloons, and even very tall poles, it is increasingly becoming the domain of drones (also known as “unmanned aircraft systems”).

Many tout the drone’s potential and value. However, as commercial and hobby drone use skyrocketed, many also began to see the threat to personal privacy and safety. There has been a dramatic increase in pilot reported close calls; compare the 238 sightings during 2014 to the 650+ sightings during 2015 – through August 9^th (FAA.gov). Federal and local agencies have sought to regulate drone use by implementing rules for safe and ethical use. You may have read Rebecca Guterman’s article investigating this issue earlier this year in the Montgomery County Sentinel (State explores new drone rules; February 25, 2015).

On February 15^th, the FAA published proposed rules for unmanned aerial systems as a step forward to integrating drones in our skies. Jenna Portman and Josh Hicks reported in a June 30^th Washington Post piece (New laws in Va., Md. and D.C. regulate drones, Uber, social media) that Maryland will propose drone use rules by 2018; and in the interim has prohibited counties and municipalities from legislating drones, giving “exclusive jurisdiction” to federal and state agencies.

Commercial drone use has soared, especially in real estate applications; such that Dronelife.com estimated that real estate drone use could generate $10 million by 2016. The National Association of Realtors® has been at the front of this issue, promoting and educating safe and ethical drone use to members. NAR President Chris Polychron stated in his testimony to the U.S. House Judiciary Subcommittee on Courts, Intellectual Property, and the Internet: “Realtors® have shown a consistent interest in the safe, responsible use of drones in the business of real estate… (realtor.org).”

It may seem cutting edge to integrate aerial pictures and video into your marketing plan, however there are some issues you might consider before agreeing to have a drone flying over your home and neighborhood. You should ensure that the operator is experienced and authorized to operate the vehicle. Make sure the drone operator is insured, as accidents and property damage can occur. Finally, confirm that any aerial pictures and video publicized are worthwhile; poorly executed aerial photography could detract from your marketing efforts, and interfere with a buyer’s appreciation of your home’s qualities and charm. For more information, visit Know Before You Fly (knowbeforeyoufly.org).

Tag: mls listing

Home listing syndication is big business

Drone use takes off to sell homes

Aerial pictures and video may seem cutting edge, but you should consider a number of issues before agreeing to have a drone flying over your home and neighborhood.