Hitwise recently released their March 2008 numbers, measuring the traffic delivered to real estate websites as a percentage of market share.
Hitwise Real Estate Web Site Report, March 2008
Rank | Web site | Market share |
1 | www.realtor.com | 4.75% |
2 | www.remax.com | 2.85% |
3 | realestate.yahoo.com | 2.35% |
4 | www.zillow.com | 2.20% |
5 | www.ziprealty.com | 2.13% |
6 | www.rent.com | 2.11% |
7 | www.homegain.com | 2.06% |
8 | www.move.com | 1.88% |
9 | www.apartments.com | 1.80% |
10 | www.servicemagic.com | 1.55% |
11 | www.trulia.com | 1.47% |
12 | www.hud.gov | 1.45% |
13 | www.century21.com | 1.36% |
14 | www.realtytrac.com | 1.28% |
15 | www.visualtour.com | 1.24% |
What is interesting to me is what a small percent of the overall market share the top sites actually command.
When you talk to someone in the real estate industry, they say something along the lines of 'of course everyone knows about realtor.com". Do they? The very top site which has now been in this position for years only has a market share of 4.75% this month. In fact, collectively the top 5 sites only represent 14.28%.
What other industry's top player(s) have such a small stake? When you think of soda, Coke and Pepsi dominant. When you think of online auction, you immediately think of Ebay. When you think of domestic cars, Ford or GM immediately comes to mind.
You know what the difference is? Real Estate is local, these categories are not. So while these large portals are great for introducing people to the idea of real estate, and will keep jockeying for position among the ranks, the local agent's web presence (whether that be a blog or a website) is still something that is very powerful and useful to today's buyer and seller.
Of course, the good news is that you don't have to pick local or national, you can leverage both. So learn how you can be where the biggest majority of people are collectively hanging out online, wondering how they can best buy or sell a house, but don't underestimate the power of good local marketing plan as well. The two can work great together.
Thanks for the info Sara. I am actually really surprised that the HUD site is even on this list.