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Making the Pie Bigger for All: Why We Launched RLS Syndication
August 9, 2017
After nearly two years of meticulous planning, the Real Estate Board of New York’s (REBNY) Residential Listing Service (RLS) launched Syndication earlier this week. A game-changing technology service for the real estate industry, Syndication allows salespersons and brokers to easily send residential real estate listings to a powerful network of hundreds of local, national, and international public real estate listing websites through one centralized feed. Syndication will streamline the simultaneous sharing of listings, dramatically enhance the visibility of listings, provide consumers with the most up-to-date and accurate information, eliminate stale listings, and consolidate data across the industry. This tool was created to empower brokers and sellers to improve their businesses, which in turn, ensures that consumers have the most options and best information when making real estate decisions.
Under the long-standing industry status quo, firms have individually sent their listings to other brokerages and public real estate listing websites through multiple feeds. This inefficient process is not only time consuming and costly, but also results in fragmented, inaccurate data. Instead of wasting time on sending out listings through a variety of channels, Syndication allows real estate salespersons and brokers to hand pick the websites they want to list on and share all their listings simultaneously. Simply pick where you want to list, and within 24 hours, it’s there at no cost.
The demand for these tactical and common sense changes exist throughout the New York City real estate landscape, and the response to Syndication’s launch has been tremendous. In just the first 24 hours of launching Syndication, we’ve had 50 firms and more than 2,300 agents join our network. As this service continues to roll out and expand, we look forward to more firms and agents signing-up, as well as partnering with additional listing websites. Our most recent new partnerships are direct feed agreements with Realtor.com® and Homes.com®.
At REBNY, we are driven by the purpose of providing the best possible tools and resources for New York City’s real estate community, so that businesses can thrive and consumers can make the best-informed decisions possible. We believe that Syndication will help accomplish this goal by creating a hub that enhances transparency throughout the industry. As a free service for participating RLS brokerage firms, Syndication has nothing to do with taking listings away from established websites. In fact, our goal is the exact opposite: we welcome all listing websites to join our network which will help provide more listings and better information for their consumers.
Whether it be firms, brokers, salespersons, consumers, or listing websites, Syndication is a service that will benefit every stakeholder in New York City’s real estate industry for years to come.