Close

Not a member yet? Register now and get started.

lock and key

Sign in to your account.

Account Login

Forgot your password?

Zillow Whisper

Zillow Whisper
 

Research Question: Will Zillow continue to attract realtor advertising dollars despite realtor resentment and an improving Realtor.com?

Report Available: July 23, 2015

 

Blueshift’s initial research shows many realtors still despise Zillow, yet the company is signing a large number of MLS contracts to increase quality and quantity of listings, consumers still love Zillow, and some realtors are reporting a strong ROI from advertising on the site.

 

Observations

  1. “Drama fest” may be an appropriate phrase to describe the ongoing battle between realtors and Z, MOVE and Z, realtors and MOVE and so on. One month before Z’s acquisition of Trulia was finalized, Z dumped MOVE’s ListHub syndication service, claiming it was intentionally sending inferior listings. Post-merger, MOVE announced it was ending its ListHub feed to Truila which was delayed until April 7 by Z due to a court restraining order.
  2. A quick scan through realtor websites, message boards, and comments sections in real estate articles finds little love for Z or Trulia. Negativity can be found directed toward MOVE as well, but to a lesser extent. Realtors continue to complain about having to explain Zestimate inaccuracies (Z’s home valuation algorithm) to clients, poor quality of Z leads, and Z “selling their leads backto them. Since MOVE was purchased by NWS, its share of real estate traffic has slowly increased, slightly closing the gap between it and market leader Z.
  3. Regardless of the widespread complaining, a large number of realtors have reported success in converting leads from Z and have easily communicated why Z’s valuation algorithm is called “Zestimate” and not “Zprice.” One investigative report found that most realtors were indifferent or cluelessabout the on-goings between Z, Trulia, MOVE, and ListHub. To compensate for lost listings after Z’s ListHub feed ended, the company quickly signed 83 MLS services, which Z claims give it higher quality data.
  4. Blueshift’s July 28, 2014 Zillowreport found that the only realtor sources with positive feedback on Z’s ROI were those with Premier and Platinum Premier Agent status. Agents claimed their realty’s own website brought in more leads, however continued to advertise on Z given the site has so much traffic running through it. Realtors reported they would keep spending steady unless enough MLSs discontinued its feeds to Z.

 

Will Zillow continue to attract realtor advertising dollars despite realtor resentment and an improving Realtor.com? To gain insight into Z and the real estate market, Blueshift will gather data and issue a market research report from independent sources in the following areas: Real estate brokers with agents at large agencies, Multiple listing services, Competitors, and Industry specialists

 

Companies: Zillow (Z), Realtor.com (MOVE), News Corp (NWS)

 

To see other ideas Blueshift Research is currently working on, please click here.