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Sign into your accountProfessional Real Estate Websites are Losing the Battle for Consumers Online
September 20 2010
Professional real estate websites are losing the battle for consumers online.
Today's real estate consumer has a dizzying array of websites that provide them with access to real estate listings. There are numerous third-party websites like Zillow and Trulia as well as national real estate franchise sites and local real estate company websites. Consumers likely assume that all of these sites offer the same quality of information. Unfortunately this isn't the case.
This white paper from the WAV Group chronicles research findings on the consumer search experience. WAV Group has calculated the differences between third-party websites, franchise websites, and broker websites to measure “Property Search Delta." Consumers experience this delta when they click through from third-party sites to broker or franchise sites. By offering a better search experience with rich amounts of listing data, neighborhood data, market trends, tax data, sold data, school information third-party websites have taken a significant lead over most brokers and franchises in the eyes of the consumer experience.
Do all sites present the same property data? Is the search experience fairly uniform? Not at all! There are huge differences, or deltas, in the type and quality of information found on property websites.
The online landscape for property search is constantly evolving. In order for brokers, agents and franchises to compete for consumer interest, they need to keep their heads up and look carefully at their strategy for remaining relevant online.