Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Advertisements


Sponsored Links
Good Idea!
Realtors residuals

Advertisements
How To Advertise Here
How To Advertise Here

Facebook
Sponsored Links
Top Posters (30 Days)
simon94bob 31
RPR 26
Vermont 18
Trouble 17
Lucky Leonardo 15
Midlands BPO Guy 15
estatereal 15
Z06Fanatic 14
Mr. Clean 11
sualk54 6
Bigtoe 5
leaf fan 5
RE123 5
OpenHouseID 4
RonnieEmz 4
Matched Content
Page 1 of 2 1 2 >
Topic Options
Rate This Topic
#455168 - 10/27/16 03:37 AM Zillow leads - Premier Agent Package - YES or NO
Valerie H Offline
Junior Member

Registered: 08/31/14
Posts: 7
Loc: St. Croix, USVI
I am thinking about paying for a Premier Agent package with Zillow, which is quite expensive. I am trying to weigh the pros and cons. Anyone here already a Zillow Premier Agent? Anyone thinking about it also?

Top
Advertisements
#455182 - 10/27/16 10:50 AM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
KeepinitREALTOR Offline
Member

Registered: 03/17/16
Posts: 27
Loc: Mountain West, USA
The leads can be garbage.

Top
#455185 - 10/27/16 01:07 PM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
David Hunter Offline
Major Contributor

Registered: 09/27/05
Posts: 1614
Loc: Cleveland, Ohio
^I second this.

Every lead we got was garbage except for the leads that came off of our own listings... which we would have gotten anyways since our broker had a deal with Zillow.

So, I say your money is better spent else where.
_________________________
David Hunter | Retired RE Agent |Direct-Response Marketer
www.DukeOfMarketing.com/7-Real-Estate-Marketing-Strategies/
www.TheSaviorsMinistry.org


Top
#455209 - 10/29/16 12:33 PM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
Z06Fanatic Offline
Member

Registered: 08/06/16
Posts: 239
Loc: US
ive heard both good and bad with zillow....it seems important to put a lot of research in each zip code and see what turnover is,how many premiere agents there are, how many clicks per month,etc...

Top
#455223 - 10/31/16 09:40 AM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
estatereal Online   content
Major Contributor

Registered: 01/27/07
Posts: 3055
Loc: LAND OF THE FREE!
I just cancelled a six-month contract with Zillow using their Premier agent service but I can tell you is this the guys solution my sales rep that is his solution was that I needed to put more money into more zip codes to get a result it was a losing proposition I was paying $650 a month for a period of six months like others have said the stuff that I got would have come to me anyway the amount that you make off of the cell is equal to or less than the amount you have spent to get that sale it's a losing proposition that you cannot make up for with the volume

Top
#455242 - 11/01/16 12:23 PM Re: Zillow leads - Premier Agent Package - YES or NO [Re: estatereal]
ibsellin Offline
Member

Registered: 08/19/11
Posts: 378
Loc: USA
I think it depends a lot on your profile strength vs. others in the zip code and also the pricing for your area. I mean they pretty much sell the ads like a free market economy, if people want to buyout zip codes prices go up and if they have a ton of inventory prices go down.

With that said - I think it is important to buy a signficant share of any zip code you are advertising in.


Be able to hold your weight against others in the zip codes.

What I mean is..

say you buy 10,000 impressions in a zip code that receives 100,000 impressions per month and you have 3 recent sales and 6 reviews for 4.7 stars.

Now let's say the mega agents are in there and they have:

Big agent 1 - 70,000 impressoins, 39 recent sales, 134 reviews for 5.0 stars

Big agent 2 - 60,000 impressions, 42 recent sales, 100 reviews for 4.9 stars

etc. etc.

People are clicking around these sites all day and night before making a contact, they get familiar with the big advertisers. If you are popping up 1 / 10 with low reviews/stars compared to others popping up 5-10x as much as you then they are going to check the other agent's box and they will get more than their fair share and you will get less.

A year or two ago I had about 10 recent sales and a 4.7 average with 10 reviews maybe.. now I'm up to about 17 recent sales with a 4.9 average on 21 reviews I'm getting more contacts and nowhere even close to the number of recent sales and reviews as the big players.

Top
#455331 - 11/07/16 02:38 AM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
estatereal Online   content
Major Contributor

Registered: 01/27/07
Posts: 3055
Loc: LAND OF THE FREE!
^^^how many current active listings do you have right now?

Top
#455561 - 11/21/16 05:58 AM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
Valerie H Offline
Junior Member

Registered: 08/31/14
Posts: 7
Loc: St. Croix, USVI
Wow, thanks for all of the feedback. And I tell you they don't let up. I had to tell them to stop calling me and email only. I get at least 3 emails a week. URG.

I have about 23 listings now. I am currently getting at least 1 hit a week on my listings without paying a cent.

Top
#455687 - 11/30/16 10:05 AM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
estatereal Online   content
Major Contributor

Registered: 01/27/07
Posts: 3055
Loc: LAND OF THE FREE!
cancelling with them was best thing ever. total waste of money...his solution was to spend more....i worked it for 6 months...if i got to drop 7k on something to get a sale after 1 year and sale is = to a 6k payout, its not worth it.....total waste...and i have a team, so even more of a waste....its easier and i get better stuff on my own

Top
#455698 - 12/01/16 05:27 AM Re: Zillow leads - Premier Agent Package - YES or NO [Re: estatereal]
Valerie H Offline
Junior Member

Registered: 08/31/14
Posts: 7
Loc: St. Croix, USVI
23 +/-

Top
#455706 - 12/01/16 12:40 PM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
estatereal Online   content
Major Contributor

Registered: 01/27/07
Posts: 3055
Loc: LAND OF THE FREE!
Originally Posted By: Valerie H
23 +/-


Dont waste the money IMO.

Top
#455827 - 12/10/16 11:47 PM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
ibsellin Offline
Member

Registered: 08/19/11
Posts: 378
Loc: USA
just adding something I have always advertised with Zillow and Trulia and Realtor.com (well on and off sometimes I have let up and then re-upped). Until recently I only spent about $400-600 per month on Zillow/Trulia now I just increased dramatically first to about $1600 now $2600..

Here's my perspective -

1. They have all went through changes. In 2010 when I got into real estate it was a lot better to advertise on Zillow people were not paying them as much. Then them and Trulia just tried making more money so they started selling anything they could. They tried dividing up desktop vs. mobile advertising. Seller ads. And the 3rd spot on Zillow used to be a rotator 'bonus' for all the Premier agents became another sold spot as demand increased.

So it used to be on Zillow there were 3 slots to appear and they sold 2/3 of them double. So basically 25% slots in any zip code with the 3rd being a wild card. Then they made it so they sold all of them so 6 - 16.6% slots. Then they wanted to make more money so they started going impression based.

Now - I love Zillow now that they have self-serve and you can see what percent of the market you are getting for what price. The new self-serve is awesome I used to always want to take my sales rep and ask him about 100 different zip codes to look for a good value, but never wanted to waste that much time.. plus the 6 month commitment.. it was a big decision and hassle. Now with no commitment or hassle I can investigate as many zips as I want and they have the built in ROI calculator.

I know some agents have built their entire multi-million dollar teams on Zillow.. can't say I've done that but I have closed a number of deals in fact I have one in escrow and working with several zillow clients right now.

So I'm not the internet lead expert but here is what I've learned:

1. Call them QUICK. I mean if you can call them as soon as the lead comes in your numbers go up dramatically. Then they drop off the shelf.

2. Set up an appointment - that is really the number one goal. Face-to-face meetings will increase your conversions to sales dramatically. I ask them if they've been pre-approved and if they say no I ask them if they know what their credit is about. If they say something in the 500's I dodge and if it is 600's up I go ahead and try to meet them.

3. Fortune is in the follow up - you need a CRM and you have to follow up many times. Sometimes they reply or answer the phone and setup an appointment with you after a number of attempts. The fact is on Monday at 8am they were interested in seeing 123 Main St but then the work week started and they had to go to work and then pickup the kids and groceries and Tuesday was busier than Monday..etc. etc. and on Thursday they had a free moment to answer their phone. So you just have to keep calling/emailing a number of times.


4. Pick an under-worked area and use conservative #'s on the Zillow ROI calculator.. I use a 2% conversion rate and 2.7% avg commission. I know there are not many people hitting 3%+ and at those #'s with me taking 100% as a broker I still see a number of zip codes where the ROI is 1 - 2x.. those are overbought IMO.. I stay out and look for high ROI zips. I'm in a range of zips from 3 - 20x ROI. Paying about $2600 per month for approx. 100 leads. Just upped my advertising big time a month ago am already working with a ton of zillow buyers.. I ran 4 appointments yesterday, 2 recent Zillow leads and have 3 appointments today with 2 different recent Zillow leads. I think I met with about 7 new people from Zillow last week.

The problem is if you 2 fold I think.

1 - if you only spend a couple hundred a month you are small potatoes and they will under-serve you. If you spend a couple-thousand plus they will over-serve you. What I mean is whenever a lead comes in where the box is unchecked they distribute it.. so if you have a weak profile and spend a little you will not get many leads because nobody will select you and they won't distribute it to you often.

2 - if you're only getting a lead or two a week it is hard to be as 'on' as if you are getting 3-4 leads a day. At least it was for me, with only getting a lead or two a week I was not calling instantly and it was almost like a chore b/c I assumed it wasn't working out. Now with 3-4 leads a day I call as quick as possible and it keeps me on my toes I believe I will get at least 2 deals a month and am hoping for 3-4 I don't know which lead it will be so I try to stay on top of each one.


Edited by ibsellin (12/10/16 11:50 PM)

Top
#455856 - 12/12/16 01:08 PM Re: Zillow leads - Premier Agent Package - YES or NO [Re: ibsellin]
VABroker Offline
Veteran Member

Registered: 11/02/10
Posts: 1042
Loc: Virginia
Please report back in 6 months and tell us if the commission reward has well exceeded the expense. Breaking even doesn't count.

Top
#455883 - 12/14/16 07:31 AM Re: Zillow leads - Premier Agent Package - YES or NO [Re: VABroker]
estatereal Online   content
Major Contributor

Registered: 01/27/07
Posts: 3055
Loc: LAND OF THE FREE!
Originally Posted By: VABroker
Please report back in 6 months and tell us if the commission reward has well exceeded the expense. Breaking even doesn't count.



^^^i second this


..i mean literally....i dont meet buyers...i dont meet sellers...im only in the office on the phones.....so i dont miss calls.....if im on another line, i call right back...this is my only job....so its not as if im not doing what needs to be done....i'd say im better than most when it comes to telephone and conversion and follow up.....but if your working with trash, i mean...you can polish a turd as was shown on mythbusters, but its still a turd.

try it out and let us know how much you spent and how much you net after commission splits, payouts, expenses, etc....



"i made my first million in real estate, it only cost me 2 million to get there"

Top
#456003 - 12/21/16 10:10 AM Re: Zillow leads - Premier Agent Package - YES or NO [Re: estatereal]
ibsellin Offline
Member

Registered: 08/19/11
Posts: 378
Loc: USA
I personally know several agents who have been using Zillow with great success for a long time. I know of even bigger agents who obviously spend a lot. One of Zillow's top spenders and in my region and I remember about 5 years ago when he was just an average agent.. he started investing in Zillow and built a major team pretty much entirely on Zillow. My old ad rep told me he was spending $100k+ PER MONTH.. now you can't go from average agent to $1M+ annual Zillow budget if Zillow doesn't work.. his team is selling like 400-500 homes a year.. he is basically at a 25-40% share of every zip code.

Top
#456012 - 12/22/16 05:29 AM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
ibsellin Offline
Member

Registered: 08/19/11
Posts: 378
Loc: USA
Here's what I don't get about Zillow is how these teams afford to advertise in some of these zip codes where leads are costing $150-250 each for a $450-550k avg. sales price. Okay so crunching nubmers I think a 3% closed ratio would be very good.

SO if you're selling 500k homes on average making $14k checks and you need about 33 leads at $200 each to close one..

buyers agents normally take 40-50%.. those are razor thin margins for the team leader..

$14,000 check
$6,000-$7,000 to the buyer agent
$6600 ad spend

Where's the margin? I guess the margin is in that some people need to sell and buy and also they might refer a friend if they like you.. still can't figure out why people are paying that much for leads though when I know of nearby areas where you can sell $300k homes for $25-40 leads...

Maybe buyers agents have to pay for some of the ads or they receive more like a profit share than a % of the gross...


Edited by ibsellin (12/22/16 05:30 AM)

Top
#456022 - 12/23/16 12:12 AM Re: Zillow leads - Premier Agent Package - YES or NO [Re: Valerie H]
JohnN Offline
Member

Registered: 11/21/13
Posts: 224
Loc: Minnesota
There is always going to be additional business that is generated because of your dominance of an area. My partner is the most prolific listing agent in a certain geography and she gets a ton of business just based on the momentum of having her signs everywhere. (She doesn't use Zillow).

Top
Page 1 of 2 1 2 >






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Newest Members
RayWhite, Raffaele, Du An The Avila, mreid77, MiaJones
29710 Registered Users
Who's Online
5 registered (estatereal, STEW, Mr. Clean, RayWhite, 1 invisible), 68 Guests and 4 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 28199162
No new orders today 13094949
Stupid MLS comments. 3272043
What do you know about Froy Candelario, top agent in USA 1185667
Stupid QC comments and BPO requirements. 1057311
New HUD Listing Brokers---Any Update? 1024907
Is there religious content in Buffini class? 820165
Let's talk about our cars 667408
Name that Flick. Great movie Lines. 601067
Pay it Forward - BPO/REO Tips & Tricks I & II 588957
Most common items found at an REO 570846
EML 459230
REOTRANS 438566
Main Street 417061
asset val seminar in colorado 406002
assist 2 sell or 1 percent realty? 339173
HOMONYMS - There, Their, and They're 305482
Evalonline 300066
Land America 285050
Mainstreet 261858
Featured Member
Registered: 10/23/02
Posts: 13

How To Advertise Here


This site presented by RNC Internet Services