Industry NewsNews Brief

Agency is at the heart of syndication debate

Commentary: Brokers could address issues with listings data accuracy by cooperating with portals

Although I've sworn off writing more about syndication, like Michael Corleone, just when I thought I was out, it pulls me right back in. So for my return column for Inman News, I thought I'd take you on a merry tour of the River Nile Denial that plagues the real estate industry. We start our excursion at the Port of Redfin, where we find the local harbormaster crowing that the portal sites have bad data. Windermere and Redfin just published a study showing that across 11 major U.S. cities, local broker sites such as Windermere.com, Redfin.com and LongandFoster.com have about 20 percent more agent-listed properties than two national portals, Zillow and Trulia. The study found that broker sites display new listings seven to nine days faster, and that broker sites record sales faster too -- almost two out of the five listings on Zillow and Trulia are actually no longer for sale, a problem with only 1 in 1,000 of the active listings on Redfin. Redfin points out that an "independen...