About Gary Lundholm

In 2003 Lundholm and business partners Joseph Auzenne and Steven Edwards co-founded The Real Estate Group, which in 4 short years became the #1 full-service real estate office in Hampton Roads. Today, The Real Estate Group enjoys multiple locations strategically positioned to serve all of Hampton Roads.

Syndicators: Love Them or Hate Them, They’re Here to Stay

The conversation over listing syndicators has been non-stop over the past year as agents and brokers debate whether syndicators are friend or foe.

I actually think that’s the wrong question. They are neither friend nor foe; they are simply competitors. Their job is to extract as much revenue from the real estate industry as possible.

The real estate industry left the door wide open for these players by failing to understand the potential of the web and by failing to work together for the common good. So why the outrage over syndicators? I think much of it stems from a loss of control that many brokers and agents are feeling. The syndicators have become the new middleman in the transaction; someone else is setting the online agenda, and brokers and agents don’t like it.

So what is the rightful role of a syndicator? I view them just as I would view any competing broker in my hometown: I cooperate when it’s in the best interest of my clients, agents, and firm. The rest of the time it’s my job to beat them at their own game.

Let’s face it—in far too many cases, brokers have failed to master the online world and by extension failed to provide adequate training and leadership for their agents. Thoughtful agents and brokers understand the huge potential of that online world. They continue to innovate and master the knowledge and skills needed to compete. In my mind, this is only real response to the syndicators.

I have shared a few of my thoughts on syndicators…what are yours? What are some of the ways you have found to effectively cooperate with or compete against them?

About Gary Lundholm

In 2003 Lundholm and business partners Joseph Auzenne and Steven Edwards co-founded The Real Estate Group, which in 4 short years became the #1 full-service real estate office in Hampton Roads. Today, The Real Estate Group enjoys multiple locations strategically positioned to serve all of Hampton Roads.