Sally English Atlanta Real Estate: My Thoughts on Realtor.com, Zillow and Trulia

With all the news this week about the National data bases that post listings it is truly the consumer that will be the winner in the contest. 

Realtor.com's parent Move, Inc. cut a deal to purchase the parent company of ListHub, the primary listings syndicator most Brokers and MLSs use to post listings on national databases (including Zillow and Trulia). See Leslie's Ebersole's excellent article

Move, Inc (Realtor.com) Is the New 800 lb Gorilla. Will it Squash Zillow and Trulia?

What is the future of the major real estate databases?

I advertise on all three databases.  The motivation to market my services is different for each database.

REALTOR.COM

I use the enhanced listing service to give my listings the maximum possible exposure on Realtor.com.  The enhanced listing allows me to post the maximum number of photos, post a headline, post detailed information about the listing and most importantly, show my contact information right by the listing.  Realtor.com is a tool primarily for buyers.  If a buyer is looking at Realtor.com, I want them to see my listings and then give me a call or email if they want to visit the home or have questions.

I have also been uses the zip code advertising option where my listings are featured when a buyer does a home search in my "home" zip codes.  I advertise in 30084, 30345, 30329 and 30033.  The theory is that a buyer will see these homes first when they do a search of homes in these zip codes.  My results have been disappointing lately and I think Realtor.com is overcharging for the service.  Not sure I will continue using this marketing tool even though I have been using it for 6 years.

TRULIA

Trulia ia a little sister to the Realtor.com in that it provides information about listings.  It is a user friendly site but the the data is less reliable, in my opinion, than the Realtor.com data that comes directly from the MLS.  I am active on Trulia and advertise to make sure I have access to my listings and so buyers can find my contact information next to my listings.  Again, I want my seller clients to be confident their listings are receiving maximum exposure on Trulia and I want to be the Realtor Buyers call to see these listings.  Trulia just cut a deal to be the database for housing on CNN Money's website.

ZILLOW

Zillow is much hated throughout the Realtor community because so much fo the information on Zillow seems to be incorrect.  Zillow is different from the other two websites because it shows "sold" information and also has a tool for valuating most residential properties.  This valuation is called a "Zestimate".  The Zestimate is widely inaccurate in my opinion.  The computer algorithm does not appear sufficiently developed to make decisions about which comparables to choose when calculating a value.  The data on Zillow is from multiple sources and this too adds to the inaccuracy.  Yes, I advertise on Zillow because I want buyers and sellers in my target zip code to find me when they do a search.  The jury is still out, for me, as to the value of advertising on Zillow.

FUTURE OF ONLINE LISTING PORTALS

Realtors have given up control of publishing their listings online.  I think this is mostly a good thing as it puts my listings in front of as many potential buyers as possible.  However, Realtors continue to hold the most valuable information for valuing a residential real estate property.  Realtors have not released control of sold data.  To get an accurate valuation of a home it is absolutely necessary to have access to the sold information for homes comparable to the one being valued.  What will Realtors do with this valuable information in the future?