Zillow Improves Broker Programs
By Victor Lund on the WAV Group blog
Posted by: RET Staff
Zillow Group, which includes the websites of Zillow and Trulia, have landed on a broker strategy for marketing that works. Featured listings are dead and have been replaced with a product to advertise in ways that drive the largest margin opportunity for a brokerage firm – leads to eTeams and relocation. I call this "shared display," where the brokerage and agent are clearly displayed and may be contacted – easily understood as "your listing, same leads." This functionality works equally well for any brokerage or large team.
Display Rules Primer
There are three general types of display rules: Fair Display, Shared Display, and IDX Display.
Fair Display is pretty simple to understand. If it's your listing, then only your identity is displayed on the listing. Many people like this display because it's "your listing, your lead." It works like the new car dealer. You call BMW to buy BMW.
The second type of display is a Shared Display. This is where Zillow has innovated. Under the ad portal strategy, the listing agent and broker are always displayed on their listing and can receive leads. But the display is a shared display, so three other advertisers may be displayed on the listing if they pay. Let's understand that this is "your listing, same leads." Our research shows that brokers get the same volume of leads on their listings with shared display as they did with fair display (read on).
The third display is IDX Display. In this display that is popularized on broker and agent websites, the site owner gets all the leads and the listing broker and agent have a byline. This is understood as "your listing, no leads." This model is akin to a used car dealership where the company will sell all brands of cars.