In Part One, Blair Thompson, spoke about the possibility of these syndicated models of evaluation being effective on homes everywhere as well as Sherman Oaks. This part will analyse some of the factors in determining if an agent should be “buying” into the syndication of their listings. This can be divided into 2 parts – 1) is it good for the client, the home seller 2) is it a good thing for the agent?
1) Is it good for the Home Seller? In marketing it is a rule that the magnitude of exposure is directly proportional to the effectiveness of the marketing campaign. There is no bad publicity, if you will. This rule is complicated however when you talk about effective marketing. This is not a homogenous product. Houses are all individual and in order for an agent to sell a particular house most effectively they need to have been in the house, seen it, felt the vibe. The way syndications are set up, most leads to a particular house do not go to the listing agent or the listing office or even an agent in the geographic area of the house. So when a client calls in, they are generally not getting the best or right information. With the extreme avaliability of information on the internet from past sales, current seller status, pictures, and the like somebody inquiring about a particular house wants to get new information from the agent. Most of the times this can only be had from the actual home visit. So for the actual sale of a house thru said syndicaiton, the best source of information is from the actual listing agent, not a random unknowledgeable person who has paid for the lead. In the area of Sherman Oaks where I sell homes, each house needs to be treated individually. My conlcusion is that the increased exposure is likely not a positive thing when it comes to increased sales prices, decreased marketing times, and the best buyer for the house. Many potential buyers will surely be sent away from a particular house by erroneouse information and bad sales techniques of the random recipient of the lead.
I will speak about syndication from the standpoint of the agent in Part 3 of this series.