Zillow Vs. Realtor.Com: Comparing Lead Quality In 2023
In the competitive world of real estate, staying ahead of the game is critical for agents like you. As more homebuyers turn to online sources for property searches, two platforms have emerged as leaders in the industry: Zillow and Realtor.com. Understanding the strengths and weaknesses of these platforms can help you make informed decisions about where to invest your time and marketing efforts.
Zillow is known for its widespread reach, with more monthly visits and pageviews than Realtor.com. It also features MLS-sourced listings and for-sale-by-owner properties, giving users a wider variety of options. On the other hand, Realtor.com, which exclusively uses MLS data, ensures high accuracy and reliability for its listings. As a real estate agent, you’ll want to consider the quality and quantity of leads each platform can generate when deciding.
While both platforms offer valuable tools and resources for you and your clients, it’s important to recognize that no platform is perfect, and they might not assess property values with 100% accuracy. Ultimately, your expertise as a real estate agent will remain crucial in guiding clients through the buying and selling process. Striking a balance between leveraging these online resources and offering personalized, hands-on assistance will set you apart in the competitive real estate landscape.
Lead Quality and Conversion Rates
Lead Quality on Zillow and Realtor.com
Zillow and Realtor.com offer excellent lead-generation services for real estate agents regarding lead quality. Zillow’s Premier Agent program gives agents enhanced visibility and prime positioning on the platform. Realtor.com’s Connections Plus offers exclusive leads to help agents gain more clients. While the quality of leads on both platforms is generally high, monitoring your return on investment (ROI) and adjusting your strategy accordingly is essential.
Conversion Rates and Response Time
It’s crucial to consider conversion rates and response times when evaluating lead quality. On average, you’ll pay around $20 to $60 per 1,000 impressions on Zillow, with the platform recommending at least 5,000 impressions per month. From these impressions, about 1% may contact you, and you can expect to convert roughly 4% of those leads. This results in a cost of approximately $100 per converted lead.
On the other hand, Realtor.com leads tend to be around half the price of Zillow leads. Conversion rates are similar, with a typical agent closing one or two deals in the first month, followed by three to four monthly deals within the first six to eight months.
Here is a table summarizing the conversion rates and costs:
|Platform||Impressions Cost||Recommended Impressions||Conversion Rates|
|Zillow||$20 – $60 per 1,000||5,000+||4%|
|Realtor.com||~1/2 the price of Zillow||N/A||Similar to Zillow|
Real estate agents’ experiences with lead volume and quality may vary depending on their region and marketing efforts. However, according to Reddit testimonials:
- The conversion rate for Zillow and Realtor.com is about the same, with one in thirty leads converting within the same month and an additional two leads converting over the subsequent six to eight months.
- An agent operating in Washington reported 45 leads per month, translating to one or two closings within the first six months and three to four monthly closings afterward.
Remember that your experience may vary, and tracking your performance and adapting your efforts is crucial.
Cost of Leads and Advertising
When it comes to comparing the pricing models between Zillow and Realtor.com, there are some differences you should be aware of. On Realtor.com, non-exclusive leads start at $200 monthly, while exclusive leads cost $1,000. Zillow’s price per lead ranges from $20 to $60, depending on factors such as median home prices in your zip code and the number of agents in your market.
Advertising Costs and ROI
Understanding the advertising costs and return on investment (ROI) associated with Zillow and Realtor.com is crucial for a real estate agent. In the case of Zillow, you’ll pay around $20 to $60 per 1,000 impressions. It’s recommended that you invest in at least 5,000 impressions per month. With approximately 1% of these impressions contacting you, you can expect a conversion rate of about 4%. This translates to a cost of roughly $100 per converted lead.
Realtor.com has a slightly different advertising approach. Your costs will depend on the type of leads you choose (non-exclusive or exclusive) and other factors determined by a sales rep from Realtor.com. Getting a quote for your area and weighing the potential returns against your investment is essential.
Maximizing Advertising Budget
To make the most of your advertising budget on both platforms, consider the following tips:
- Target high-demand and high-value areas within your market. This will increase your visibility to potential clients while allowing you to list and sell higher-priced homes.
- Explore Zillow Flex, a program that operates on a referral fee basis rather than upfront advertising costs. This can help you manage your budget more effectively and only pay when you close a transaction.
- Track your conversions and ROI diligently to identify which platform or advertising strategy best suits your needs.
- Experiment with different ad formats, targeting options, and budgets to find the sweet spot that delivers optimal results for your real estate business.
By considering these considerations and continuously monitoring your results, you can determine the best strategy for generating leads and maximizing your success on Zillow and Realtor.com.
Platform Features and User Experience
Website Design and Interface
When it comes to Zillow and Realtor.com, both offer user-friendly website designs that are easy to navigate, providing you with convenient access to their respective real estate listings. Zillow offers a clean and simple layout that helps you quickly find the property information you need. Similarly, Realtor.com has an organized user interface, making it easy to locate listings and interact with various features.
Unique Features and Tools
Here are some unique features and tools associated with both platforms:
- Offers a free basic version with features like searching for homes by location or price range
- Includes FSBO (For Sale by Owner) listings, aside from MLS data
- Provides useful “Zestimate” home value estimates
- Requires a paid subscription for access to additional features
- Offers listing alerts when new properties become available
- Includes detailed market analysis reports
By examining these features, you can better determine which platform suits your needs as a real estate agent.
Mobile App Functionality
Zillow and Realtor.com offer mobile apps that can be used on your phone, making accessing real estate information and listings easier. These apps maintain a similar design and user experience to their website counterparts, ensuring a smooth platform transition. Remember, though, that Realtor.com’s app still requires a subscription to access premium features, while Zillow’s app offers basic functionality for free.
In conclusion, when choosing between Zillow and Realtor.com, it’s important to consider both platform features and user experience elements. You can effectively leverage either platform in your real estate endeavors, providing the necessary tools and insights for success.
Market Share and Reach
Users and Market Share
As a real estate agent, it’s essential to understand the market share and reach of the top platforms in your industry. Zillow has a market share of 36.60% in the real estate listing management market, while Realtor.com follows at a distance with its share. Zillow receives about 60 million monthly visits, whereas Realtor.com receives around 40 million. Zillow also has wider listings, as they feature FSBO (For Sale By Owner) listings, which Realtor.com lacks as they only feature MLS listings submitted by agents.
Some key stats:
- Zillow: 36.60% market share and approximately 60 million monthly visits
- Realtor.com: Less market share and around 40 million monthly visits
Geographic Coverage and Demographics
Zillow and Realtor.com provide nationwide coverage, offering listings in virtually every zip code across the United States. This broad reach enables you to serve clients looking for homes in various regions and market conditions. Zillow caters to 67% of U.S. home buyers, making it a crucial platform for real estate agents to be present on.
Regarding demographics, both platforms attract a diverse audience, including first-time homebuyers, investors, and those looking to relocate. This varied user base can help you generate leads and cater to different client preferences.
Impact on Lead Generation and Conversion Rates
Being on these popular platforms can significantly impact your lead generation and conversion rates. As Zillow receives more traffic, it naturally leads to increased exposure and engagement with your listings, which can result in higher lead generation. Moreover, Zillow’s Premier Agent program provides an opportunity to increase your visibility among potential clients, enhancing lead generation further.
Although Realtor.com may have fewer users, they are primarily focused on real estate transactions, and such users might have a higher likelihood of converting into clients. Real estate agents should also keep in mind the Google search results, where both platforms typically rank high, contributing to enhanced online presence and potential leads.
It is ultimately up to you to decide which platform fits your strategies and objectives, but being present on both can undoubtedly widen your reach and improve your chances of success.
Customer Support and Agent Resources
Support and Resources
When comparing Zillow and Realtor.com, looking at the customer support and resources available for real estate agents is essential. Zillow offers Premier Agent resources to help you grow your business, including marketing and advertising solutions. Realtor.com, on the other hand, Realtor.com also provides tools and resources designed to help real estate professionals succeed through their Connections Plus program.
Training Materials and Networks
Zillow hosts webinars to enhance your real estate career, publishes insightful articles, and provides video tutorials. This combination of materials can help you expand your industry knowledge, enabling you to stay informed on trends and best practices.
Realtor.com also offers a variety of training materials and networking opportunities. You can access their Learning Center for webinars and articles covering various topics like lead generation, marketing, and partnership building.
Hearing from fellow real estate agents who have used these platforms is always helpful. Reviewing testimonials can provide insight into how these tools have aided their success. For example, you may find that some agents have had success with leads from Zillow and Realtor.com, while others may prefer one platform over the other due to lead quality and ease of use.
In summary, Zillow and Realtor.com offer tools, resources, and support for real estate agents. Consider the available training materials, networks, and agent testimonials to decide which platform may best fit your needs as a real estate professional.
Integrations and Compatibility
Integrations with CRM and Marketing Tools
As a real estate agent, managing your leads and clients is crucial. Both Zillow and Realtor.com offer integrations with various CRM and marketing tools. Zillow’s Premier Agent App allows you to integrate with platforms like Zoho CRM, Hubspot, and Mailchimp, alongside other lead management and marketing tools. Meanwhile, Realtor.com provides integrations with their realtor.com® dashboard, enabling you to connect with CRMs like Top Producer and Liondesk.
Compatibility with IDX and MLS Systems
Regarding compatibility with IDX and MLS systems, both Zillow and Realtor.com use the same MLS data coverage, providing access to listings throughout the country. However, it is important to note that Zillow also includes FSBO (For Sale by Owner) listings, making their database of available properties slightly more comprehensive than Realtor.com.
When integrating IDX solutions on your website, it is essential to verify compatibility with both Zillow and Realtor.com, as they may have specific IDX service providers they work with. Ensuring that your chosen IDX solution is compatible with these popular platforms will help increase your online presence and reach potential clients more effectively.
Optimizing Workflow and Lead Management
Optimizing your workflow and lead management is essential to your success as a real estate agent. Zillow offers the Zillow Flex program, which connects you with quality leads based on your budget and desired clientele. The Flex program improves lead management efficiency by filtering lead criteria and quantifying lead quality.
Zillow and Realtor.com have mobile apps for agents, allowing you to access leads and respond to inquiries on the go. The Zillow Premier Agent app also provides access to your CRM and marketing tools, making managing your workflow from anywhere easier.
To sum up, compatibility and integration with CRM and marketing tools, IDX and MLS systems, optimizing workflow, and lead management are essential for real estate agents. When comparing Zillow and Realtor.com, exploring these areas in more detail is crucial to determine which platform best fits your unique situation and helps streamline your business processes.
- Traffic and Exposure: Zillow receives more traffic than Realtor.com, resulting in more exposure for your listings. With more page views on Zillow, there’s an increased chance of potential buyers seeing your properties.
- Listing Varieties: Zillow offers a wider variety of listings, including FSBO (for sale by owner), while Realtor.com only uses agent-submitted MLS listings.
- Mobile Apps: Zillow and Realtor.com have mobile apps, making searching for properties on the go easy. Remember this when choosing where to focus your efforts, as mobile traffic can increase engagement with your listings.
To make the most of your efforts, consider these suggestions:
- Utilize both Zillow and Realtor.com to maximize your listing exposure.
- Focus on optimizing your Zillow profile and listings since it receives more traffic.
- Keep up-to-date with each platform’s features, pricing plans, and updates to tailor your marketing strategies accordingly.
As a real estate agent, understanding the key differences between Zillow and Realtor.com will help you take full advantage of both platforms. We encourage you to share your experiences, success stories, or tips related to Zillow and Realtor.com in the comments below. Your insights will help other agents make informed decisions and better serve their clients.
Fantastic post. This is a very fair and objective review. I am hoping to find the same type of review comparing Market Leader and BoldLeads.
That’s a great idea. Thanks, Bruce!