This morning I received a phone call from a local real estate agent. Her client had contacted her about two of my condo listings and she was hoping to get in to see them. I was perplexed because I don't have any condo listings right now.
I quickly referred to our MLS to see that the condos in this development were already under contract. Our MLS requires they remain in active listings until all contingencies have been satisfied.
It appears this buyer has been using my website. When she contacted her agent, she told the agent I had three listings in that development. Maybe the agent was thinking they were three listings other than what appeared in the MLS. Whatever the case, the agent didn't realize the listings on my website aren't all mine. They are a feed directly from our MLS. This is referred to as Broker Reciprocity.
I was surprised that an agent of 11 years who has also been a broker for 8 of those years, didn't recognize that I could have listings on my site that aren't mine. I quickly looked up her website to see what she's doing. And lo and behold, she doesn't have a website.
Since this isn't the first time this has happened with an agent, I'd like to explain a simple thing called Broker Reciprocity. Broker Reciprocity means that brokerages (the companies who actually hold the listings) have given permission to other agents and brokerages to display their listings. This is how listings also appear on ZT&R. Broker reciprocity gives me permission to display all active listings.
In Tennessee, when a house is listed for sale, the real estate agent has the option to syndicate a home listing or not. The vast majority of agents will syndicate listings to get their clients the most on-line exposure as possible. That syndication provides me with the permission I need from these agents and their brokerages to have their listings on my website.
If you are an agent, you should be aware of this. It's kind of embarrassing when you call another agent to see a listing they don't actually have listed. It makes you appear incompetent. You should have already known that I didn't have any listings in that development by searching the MLS.
If you are a consumer, be aware that not all the listings on my site are mine. That doesn't mean I can't help you, I can. It's better to have your own representation than calling the listing agent anyway.
Broker reciprocity gives me permission to display all active listings.
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