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Listing Syndication - Be sure to read the fine print

Listing SyndicationAfter CMLS, there was a groundswell of discussion about the rights brokers are giving up when they send their listings to third party websites.  WAV Group went to school on the terms and conditions of several of the leading third party websites.  We were specifically focused on the rights to display, distribute and maintain listing data.

We learned that in some cases the the broker is transferring the irrevocable, perpetual, non-exclusive, fully paid, royalty-free license to use, retain, transmit, copy, create derivative work of, sell, or distribute the broker’s listing data to other parties or sub-licensees.  Bottomline, brokers are giving away rights to their listings they may not be aware of.

We also learned that all third party listing sites are NOT created equal. 

WAV Group has researched this issue and produced a white paper on the topic that has been designed to help brokers ask the right questions before they syndicate their listings.Click here to download.


Listing Syndication - Be sure to read the fine print

http://waves.wavgroup.com/listing-syndication-terms-of-use
Posted on November 10, 2009 10:43:14 by Blog Author Victor.Lund
Comment from: Mike Bentson [Visitor] Email · http://www.spokanerealtor.com
Excellent paper. I like the breakdown approach on each topic. I haven't seen a good analysis like this since ListHub and Point2 helped us take control of these issues. One of the big transgressors we are seeing in syndication is Virtual Tour websites doing syndication, UGH!

As an advisory to brokers and agents considering Syndication, they must realize Syndication is a time consuming, complicated process to undertake on their own. I think your paper does well at pointing that out. With my experience, I cannot stress the importance of ListHub as an asset to us. In order to get the attention of my MLS Steering Committee, I developed a presentation showing expired listings of theirs on competitors "syndicated" sites.

As we focus on Syndication, I am very aware and keeping my eye on the next issue, online classifieds. Craigslist being the big issue but a number of other sites are coming out that create issues which are slightly different than syndication seems to address.

OK, I could go on about syndication all day.... Thanks again for your work on this.
PermalinkPermalink November 12, 2009 17:04:47
Comment from: Ira Luntz [Visitor] Email · http://www.integreity.com
Great whitepaper and a very good start to de-mystifying a complex and confusing issue! Consumers are more frustrated than ever when they see conflicting or out-of-date listing data on the web- and this just makes a Broker look bad.

With ListHub and Point2 listings are being re-syndicated, and as such I don't see these vendors as a consumer end-point like Trulia or Google. It would be good to find out what rights/indemnifications their third-party contracts convey. Can a Broker take (let's say) ListHub to task for mis-use of listing data by a ListHub destination like Trulia? Doubtful.

As such, since distribution does indeed trump destination, and listings are now being readily distributed, the industry needs to turn its focus to data consistency, data currency, and transparency of usage. Remember, the consumer is still in charge.
PermalinkPermalink December 03, 2009 11:01:50
Comment from: Victor.Lund [Member] Email · http://www.wavgroup.com
Default avatar
Ira and Mike,

Your comments are right on target. The paper was intended to serve as an alert to organized real estate that Listing Syndication, while effective as a marketing tool, needs to be refined do discover a middle ground whereby third party sites get the accurate data under terms that allow them to be effective, and brokers are only extending data rights to achieve the marketing goals of listings.

Today, the terms of licensing broker listings are all over the board. Some provide great protections for the broker, others provide little.
PermalinkPermalink December 03, 2009 12:47:19
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Victor Lund
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