After hearing all the fuss about Edina Realty's decision to pull all their listings from third party syndication sites, I decided to take a listing Google the address and see what the likely hood that a listing agent would get a lead or inquiry from an online property listings.
Here is what I found.
I performed a Google Search on the Address 715 Yeoman St. in Waukegan IL. I searched for: 715 Yeoman St, Waukegan, IL.
The first page results were the following:
1. Google Maps Listing of the Property Address.
2. Redfin's website.
3. Trulia's Property Listing
4. Zillow's Property Listing
5. My Personal Website JohnZiemba.com
6. KW.com, Keller Williams Realty International's Property Listing Website
11. Yahoo Real Estate
So with these results what would be the likely hood someone would be able to contact the listing agent about the particular listings. With Google Maps, nothing happening there.
The second result Redfin is a local brokerage getting data from our MLS IDX feeds. In addition, results #7 Estately, #8 Movoto & #10 Sawbuck are also using MLS IDX feeds meaning they are brokerages.
The listing display on the #3 result of Trulia makes it possible that someone could contact the listing agent about this property.
Both the #4 result Zillow & #11 Yahoo Real Estate (which is powered by Zillow), I don't see how anyone could ever contact the listing agent about those. I would also point out the price is wrong on Yahoo Real Estate. Keller Williams Realty International will not allow our listings to have any other agent advertised on the listing, this means if you were to do this with another brokerage listings the results may be different.
The #5 results would come to me personally (I am not the listing agent on the property) & the #6 result would go to the listing agent.
The leaves Realtor.com as the only result not spoken for yet. Our office has a package so that all our listings are enhanced. Any lead or inquiry would go directly to the listing agent. However with Realtor.com's recent announcement that they will be placing another agent's info on non-enhanced listings would most likely mean that someone else would get the inquiry.
In all honesty, looking at if from this perspective the downside may not be nearly as bad as some would think. The only real opportunity for getting a lead would be from the Trulia exposure.
One might argue that a consumer would go to one of these websites and since they did not see a listing might choose to buy another property. I would argue that once an consumer contacts an agent, their property search would most likely be controlled from the agent sending the consumer listings directly from the MLS database or through an IDX website.
I know some of the airlines have recently done this by not advertising their airfares on the airfare portal sites. I am not sure exactly how it's working for them but I do know Southwest Airlines has made their website a destination and some would argue that Edina Realty has done the same in their area.
What are your thoughts?
As always thanks for reading,
Keller Williams Team Realty