Realtor.com is now selling leads (agents, Realtors, listing, percentage)
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I just got of the phone with one of their sales reps. I let my enhanced/showcase listings drop in Sept because I haven't been satisfied with the cost, the return on my investment, and the direction they've been heading the last few years. They were trying to get me back on board by telling me about the new lead capture they're about to roll out. Now, to get information on listings the consumer will have to fill out a contact form. The agents that use pay for enhanced listings will get these leads. Those who do not will not get their own leads. For some reason, it really rubs me the wrong way they are selling leads that my listings generate to other agents when they are Realtor.com. I feel that anything that is Realtor.com should be working for the agents, not raping their wallets and charging them for their leads to the extent they do.
It's official, they are now the same as the Zillows of the world but not as glitzy or functional. The only advantage they have is the direct feed off of MLS. I feel this is going to cause them to fall even further behind but time will tell. I'm glad I dropped my enhanced listings because frankly, they are overpriced and just not a company I'd want to be affiliated with at this point.
Now, to get information on listings the consumer will have to (be sch-muck enough to) fill out a contact form.
The agents that use pay for enhanced listings will get these (oh so special) leads.
The only advantage they have is the direct feed off of MLS.
As a potential buyer (if I ever sell my home), I use realtor.com to make sure I can still buy more or less what I want where I want to go. If I have to sign up for anything, I'm off of there. Bad move on their part, I think.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,253,079 times
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Quote:
Originally Posted by SouthernBelleInUtah
As a potential buyer (if I ever sell my home), I use realtor.com to make sure I can still buy more or less what I want where I want to go. If I have to sign up for anything, I'm off of there. Bad move on their part, I think.
They aren't charging the buyers, they are charging the agents who list the properties.
Yet another reason I'm happily dropping my NAR membership at the end of the year. (I'll still be a local MLS member)
Brandon...just a question: Do many people sign on/register to a site/realtors page/whatever in order to see a listing?
My experience has been that i flee as soon as they want my information. I know that is selfish, but i invariably find the listing somewhere else 'for free' and don't have to disclose my interest to a basically unknown party.
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Location: Cary, NC
43,157 posts, read 76,731,667 times
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Quote:
Originally Posted by Ted Bear
Brandon...just a question: Do many people sign on/register to a site/realtors page/whatever in order to see a listing?
My experience has been that i flee as soon as they want my information. I know that is selfish, but i invariably find the listing somewhere else 'for free' and don't have to disclose my interest to a basically unknown party.
Is this behavior 'typical'?
It is a numbers game. Get in front of enough people and you will get registrations. Most people do not value personal privacy anymore.
And many agents report that they get many more prospective clients when forcing registration on their sites. It seems that most people do not leave when registration is forced.
Keller Williams is currently encouraging a tacky national blitzkrieg on Craigslist, and quite a few agents are reporting huge numbers of legitimate (NOT Donald Duck) registrations.
I don't get it. I don't require registration, and don't register for most things that are otherwise freely given somewhere else.
But, I think I am in the minority.
Brandon...just a question: Do many people sign on/register to a site/realtors page/whatever in order to see a listing?
My experience has been that i flee as soon as they want my information. I know that is selfish, but i invariably find the listing somewhere else 'for free' and don't have to disclose my interest to a basically unknown party.
Is this behavior 'typical'?
Short answer to your question, I'd guess somewhere between 10-25% will fill out the forms, the rest will move on.
Long answer: It's hard to determine the percentage of lookers that register. Another part is how it's presented. I have a website where it's voluntary. If they want to be set up on MLS they have the option of filling out a short form with what type of home, location, and features they want as well the email they want it sent to. I'd guess less than half do, but some will and some won't. Personally, I'm the sort that flees when they see data collection requests. I told Realtor.com over the phone to prepare for buyers to move on to other sites and they argued that it's consumer driven. I can't imagine buyers were saying "Hey, Realtor.com, I'd like to fill out data collection forms to receive listings." Ultimately, Realtor.com is the greediest website I've run across. I've been down on them for about 3-4 years now. Their cost is ridiculous and the return on the investment is very low.
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