BrokerageIndustry News

Brokers can’t afford to ‘throw data to the wind’

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Editor's note: This is the second of a three-part series. See Part 1. The debate about listing data, syndication and who has the right to make the decisions about that data is getting hotter by the minute. Millions of dollars and the success of entire companies and organizations are at stake. The question is: How will the industry find a resolution to this very thorny issue? As the consumer demand for online real estate information soared over the last few years,, Trulia and Zillow built slick interfaces and mobile apps that trumped the experience that consumers had on most brokerage and MLS websites. Since these models were new, the brokerage community really had no idea about the consequences of using these new sites or how they would influence their business. The new revenue model was simple: Make money from online ads. The ads allowed brokerages to post their listings at little or no charge. After decades of paying for expensive print advertising, being able ...