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Realestate.com revamping their site - see the beta test here

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So Realestate.com has decided to revamp their site to be more customer friendly according to a press release issued today. "The new RealEstate.com beta design gives customers what they've told us they want, which is free access to home listings without having to register their contact information," said Kimberly Gorsuch-Bradbury, senior vice president and general manager of RealEstate.com.

Because Realestate.com is owned by marketing lead generation giant Lending Tree, LLC one has to wonder why they would want to provide information without trading the information for customer contact data. The answer may be found in Ms. Gorush-Bradbury's further comments, "The trick isn't finding listings; it's finding the right ones. Our innovation comes in the tools we are developing to get people closer to the listings they really want."

That sounds pretty good. I admit that using MLS driven sites like Realtor.com can sometimes return a deluge of listing and searchability is sometime time-intensive. So I visited the beta site which they are testing here in the Dallas, TX market. The main page allowed me to begin my search with a city/state or zip code and then filter by price range, bedroom count, bathroom count. I could then rule out raw land, condos, or multi-unit homes. Realtor.com allows the same initial seach selections and then provides for the same additonal filters. I decided to do a test:

I input the city of Murphy, TX price range of $150,000 to $400,000 and 4 bedrooms. I left the bathroom count blank or "any". I then filtered just for single family residences.

Realtor.com: 159 listings matched my search criteria

Realestate.com BETA: 83 listing matched my search criteria

One cool feature I did like about Realestate.com BETA is that the return screen for my search gave me a nice header where I could pick within certain price ranges, square footage, etc. It's also interesting to me that Realtor.com lists the lowest price first and realestate.com lists the highest price first.  So I changed the realestate.com BETA to filter at the $150,000 range and I learned something interesting. The extra listings that Realtor.com returned were for properties in Plano not Murphy. The two suburbs of Dallas do border each other and I did NOT search by zip code...I searched by city. So why did Realtor.com give me listings in Plano?

Clicking for more information about the first listing the two sites had in common produced some interesting differences. Realtor.com very prominently featured/promoted the listing agent. It was very clear who the agent was, her picture, how to contact her, etc. Realestate.com BETA instead featured a really close-up map (powered by Ask.com) that made it very easy to see the property location. If I'm shopping on-line and want to print out the property details, I'd really like to have the map on the same page. The realtor's photo is nice, but only if I'm ready to call and see the home.

Another piece of detail I liked on Realestate.com BETA was the calculation of price per square foot. I think that's a really vital piece of information when comparison shopping and I liked that the site did the math for me.

Now here's the part the Realtors aren't going to like about Realestate.com BETA, it makes it very challenging to contact the listing agent. There IS a BIG link to "Request an IMMEDIATE call" and an 800#. Both of these direct business to a real estate company who has paid for the lead, not necessarily the listing agent. On the property I searched the listing agent was with ReMax and the lead went to Century 21. I could not find contact information on Realestate.com BETA for the ReMax agent who is listing the home, only her name and the name of her office.

 So in summary, as a shopper I like Realestate.com BETA much better than I like Realtor.com. I think it potentially offers more useful information, maps, and more exact searching in some areas. Try it for yourself...

Realestate.com BETA

Kaushik Sirkar
Call Realty, Inc. - Chandler, AZ
Maybe i missed this part, but wouldn't you want a search to generate more (or all) potential properties?
Nov 28, 2006 10:15 AM
Carl Guild
Carl Guild & Associates - East Hampton, CT
Central Connecticut Real Estate
Nice review/comparison. I will have to see how it is once it goes nationwide in my area.
Nov 28, 2006 11:50 AM
Kaye Thomas
Real Estate West - Manhattan Beach, CA
e-PRO, Manhattan Beach CA
I think as the listing agent I would be very upset that I could not be contacted..Pretty gutsyI guess this is what the  DOJ thinks is a fair business practice.. any company can use my listing to promote their business but I can't refuse to let them benefit from my work...
Nov 28, 2006 12:54 PM
Roberta Murphy
San Diego Previews Real Estate - Carlsbad, CA
Carlsbad Real Estate and Homes

Both Realtor.com and Realestate.com are profit-centered companies. Realtor.com makes money up front from the Realtors, and Realestate.com makes it on the back end either by selling the leads or territories. They called earlier today as I was heading into a meeting. Perhaps I'll call back and see what is afoot.

Unless someone here has already done so and is willing to share their experience! 

Nov 28, 2006 01:19 PM
Rob Wills
Gilpin Realty Inc. - Everett, WA
Looks pretty good.
Nov 28, 2006 01:53 PM
Jeff Turner
RealSatisfied - Santa Clarita, CA
What are their plans for linking virtual tours from third parties? My guess is that they will want to control this as well, since they are controlling the leads. I'm not sure how Realtors will respond to not having control over their leads. I'd be very leary.
Nov 28, 2006 02:41 PM
Michael S. Mackey
CENTURY 21 All Islands - Mililani, HI
REALTOR ABR, CRS, GRI, RSPS
I too would like to hear about other's experiences when it comes to the leads generated. All I have ever heard about these type of lead generators is that they are good places to throw away money.
Nov 29, 2006 02:07 AM
Suzanne Marriott
Keller Williams Arizona Realty - Anthem, AZ
Associate Broker, CLHMS, e-PRO
As much as I dislike the process RealEstate.com is using - objectively it makes sense.  If they are investing the money to purchase the feeds from the various MLS, and displaying the information in a useful way to the customer, then selling the leads generated to other buyer agents, I suppose they are legally permitted to do so.  The way to combat this "leakage" is to have a better mousetrap! 
Nov 29, 2006 02:28 AM
Chris Tesch
RE/MAX Bryan-College Station - College Station, TX
College Station, Texas Real Estate

I agree with Suzanne.  As agents we need a better mousetrap.  One that the NAR doesn't loosely sponsor and then charge us outrageous fees for either....  RE/MAX is working to better our national website to provide an alternative, but I haven't heard great things about that.  In the meantime we all need to explore places that we can add our listings.  CraigsList, and some of the others provide some exposure.  We can't really complain about not getting the lead unless we are doing enought to promote our own listings!

Nov 29, 2006 03:25 AM