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What Does the Zillow/Trulia Merger Mean to You?

What Does the Zillow/Trulia Merger Mean to You?

Why? | Keeping Current Matters

We understand agents have different opinions about listing portals. Some KCM members love them, some hate them. We are not going to get in the middle of that discussion. We just want to address what the merger might mean to agents.

The big news of last week was the announcement that Zillow was acquiring Trulia. There were many articles written ranging from it was “checkmate, game over” for the real estate industry to “it doesn’t really mean much”.

(Steve’s personal opinion can be found here).

We think the best advice came from our friend and marketing genius Marc Davison when he suggested we “focus on brand marketing, content marketing… and other more intelligent means of engaging homebuyers and sellers”.

As a KCM member, we believe the merger will have very little impact on your day-to-day activities or your overall success. Hopefully, you have been building your brand as a real estate expert in your market. If that is the case, you are in control of your business. Outside events won’t dictate your success.

The Buyer

It is true that 92% of all buyers use the internet in their home search. It is also true that 96% percent of buyers that used the internet when searching for a home purchased their home through either a real estate agent/broker or from a builder or builder’s agent.

The percentage of buyers that are using the internet to search for homes and information on the home buying process has increased dramatically over the last decade. But the plethora of information now available has also resulted in an increase in the percentage of buyers that reach out to real estate professionals for help. This is obvious as the percentage of overall buyers who used an agent to buy their home has steadily increased from 69% in 2001.

The Seller

Over that last decade, more and more information has been available online for people planning to sell their home. This preponderance of information, and the confusion it creates, has led to fewer people FSBOing. The percentage of people FSBOing has dropped from 14% in 2003 to 9% in 2013.

Whether a consumer is buying or selling, they need us more now than ever – and their need for us is increasing every year!!

We have always argued that our job as real estate professionals is to simply and effectively explain a complicated housing market. The more information that is available from the internet the more ‘dots’ (data) the consumer is forced to decipher. That increases their need for you to ‘connect those dots’.

What impact will the Zillow/Trulia merger have on you? It will drive both buyers and sellers directly to you.

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