Tuesday, August 14, 2007


2 comments:

David G said...

Hi Chris. I'm sorry we didn't meet in San Francisco; I could have saved you quite a bit of confusion regarding "these companies." To answer your question; yes, you're missing a few things here.

First, let me explain the media company thing. This shouldn't be hard to understand since media companies and Real Estate companies have historically enjoyed successful and mutually beneficial partnerships. Real Estate has always constituted a large portion of most local newspaper's content. Newspapers are media companies who once were great partners for real estate companies back when consumers learned about their local real estate market from their local news publications. Today, the majority of home buyers start their search online and learn about their local real estate market from sites like Zillow - and so Zillow is a media company which can offer a real estate company a fantastic partnership for marketing purposes. Like most media companies, these companies earn their revenues by selling advertising. Our primary advertising clients are real estate companies which should put your mind at ease about how we plan to spend our funding - we're not about to compete with our best customers.

Next, you're wrong about the internet buyer if you believe that your online marketing strategy could succeed by focusing on only one website. This is a common mistake. Just like your clients don't only read one newspaper or drive past one billboard, they also don't only use one real estate website. The fact is that your brand needs to be everywhere online - and your most cost effective online marketing strategy will be to partner with the media companies that are investing in attracting a large audience.

If you have any questions about using Zillow - and online media in general - to grow your business, please e-mail me and let's get on the phone and talk it through. I hope to catch you at the next Connect conference.

David G (from Zillow.com)

Neil Lunagaria said...

Chris,

I felt that this year's Inman Show had a great spirit of innovation by being results conscious, and meeting needs based on a local marketplace - similar to your core values defined in your mission for Real Living. I am disheartened to see that you didn't share in that spirit.

In a time when the Real Estate Industry is at such a crossroad, everyone in the industry needs to adapt and collaborate. There certainly is a 'danger' to the industry, as you put it. However, that 'danger' is that the market is evolving and if you are working in the industry, you need to embrace change and adapt.

How many agents or brokers are relying solely on print advertising in their local newspapers anymore? Does it make sense to list your property in only one medium? Agents have choices on where to market and how to market. Some are smarter and more aggresive than others. Its about diversification and syndication - Marketing 101.

Buyers are becoming more and more sophisticated as well. Information is key in making purchasing decisions, particularly when it comes to buying a home. The internet is becoming the fastest and best method of receiveing this information. As an agent or broker, this is part of the service that you provide to your prospective buyer.

While Oodle is not in the business of selling homes, we are in the business of providing information at a local level whether that is listing a property, providing market data, or some other tool. We want to make the job for the agent or broker easier. Isn't a well-informed buyer a better prospect than one that may not be as well informed? We are trying to forge a stronger relationship between that buyer and the agent by driving consumers to the agents website and connecting them.

You and I had an opportunity to speak at the Inman Show but I think you have have come away with the wrong perception of what we do and how we work. I would be happy to discuss how we can optimize your traffic with the feed that you are already sending over to Oodle. Please feel free to reach out to me at your convenience.

Neil Lunagaria (Oodle National Sales Manager)