Sara of Zillow drops the bomb that…

Realogy is now syndicating all of their listings to Zillow. But this won’t come as a surprise to regular 4realz readers, since I mentioned that was likely to happen last week based on a message from a tipster

“The only listing announcement related to the three companies in the “tip” I see coming out of NRT is that they are sending their listings to Zillow since they are already (presumably) sending listings to Trulia and Frontdoor.”

However, there’s more juice to this story!

Turns out that not only is Realogy (and that means Coldwell Banker, ERA, Sotheby’s International Realty, The Corcoran Group, and Century 21) adding all of their listings to Zillow, but they (or at least NRT, which includes all of those brands except Century 21) are apparently taking some of their ad money out of Realtor.com. Here’s how one tipster phrases it:

“Starting February 13 agents have 3 days to buy the exclusive office spots at a 10% discount. After that NRT associates can purchase other NRT offices unsold spots for 30 days. NRT funding of agent branding goes away on R.com and agents can pay $99 a year to get that back.”

The way it was described to me by a Coldwell Banker insider is that NRT is just looking to shift some money associated with one product (Featured Homes).   And while it is significant that some money is being shifted out of R.com at the corporate level,  it was viewed as more as an adjustment than a wholesale change in strategy.

Even if it is just an adjustment, I think it is safe to say that Realogy’s new strategy does not bode well for R.com’s negotiating strategy with the other big brokerages.

A tipster let me know the details on the big NRT…

announcement.   It has less to do with listing distribution and more to do with a large reshuffling of resources.

But I’m torn…  Despite the fun of “breaking” rumors, I don’t want to turn this site into the Valleywag of real estate.  (Also, I really like the folks at NRT and don’t want to steal any of their thunder.)   Should I be publishing tips in full or is it enough to just give hints?

NRT announcement on the way?

Always happy to spread some more rumors, someone (who I’ll leave anonymous) justed emailed me this tip:

“…the reason I am sending this is that I was just speaking with my manager here at [XYZ] who told me that ‘You will be happy to hear that NRT is going to have and announcement in the next few days about a partnership with Trulia, Zillow and Frontdoor.'”

Just for clarity, NRT, LLC runs the residential real estate companies Coldwell Banker, ERA, Sotheby’s International Realty, and The Corcoran Group. While their parent company, Realogy, adds the Century 21 brand to the mix.

In terms of NRT’s existing listing syndication, here is what I’ve been able to piece together:

I point this out because it leads me to wonder if there is something more than the standard listing syndication agreements… The only listing announcement related to the three companies in the “tip” I see coming out of NRT is that they are sending their listings to Zillow since they are already (presumably) sending listings to Trulia and Frontdoor. Am I missing something?