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Realty Viewpoint: Realtor.com's Benefits Too Little, Too Late

Realtor.com is announcing a terrific new benefit to NAR members. The company has enhanced the free basic listing required by the NAR.

Get Your Free Summer SALES Kit NOW!

Instead of just one photo -- you get four! For Freeeeeeeeee!

And, the Showcase listings where agents pay for enhancements are going to be bigger and will include up to 25 photos and Show Me data like comps and solds.

If you're underwhelmed, join the club.

For a tech company, Realtor.com is surprisingly out of touch.

Why should agents be excited about paying Realtor.com for privileges they can get for free elsewhere?

There are other sites like Zillow climbing up Realtor.com's back that offer agents a lot more for free.

Realtor.com is the official website of the National Association of Realtors, a trade organization dedicated to doing everything it can to promote the value of Realtors.

Right now, Realtor.com is king of the hill -- with the most consumer traffic, most comprehensive listings (4.4 million and counting,) most up-to-date listings, and the widest breadth of sold and other data.

But there's a disconnect. The average sales agent made $31,000 in 2007 and has trended down since peaking in 2002. First and second year agents made just over $10,000.

Agents are looking for value right now. On Realtor.com, they don't even get their names on their listing unless they pay enhancement fees.

Other sites are willing to provide all kinds of enhancements ---including agent profiles for free.

Zillow takes listings from feeds and individual. No limit on photos, tours, videos or anything else. They even provide agent profiles for free. It's such a good deal, Zillow has seduced major franchisors Realogy and Keller Williams, along with ZipRealty, Prudential California and dozens of top regionals. In six months, they've added two million listings and counting.

If Realtor.com is supposed to be a member benefit, it's missing the mark, and making the NAR vulnerable. Franchises don't owe the NAR the time of day. They compete with the NAR to provide benefits to agents. And they just trumped the NAR big time with their own member benefit - unlimited listings and enhancements on Zillow!

Zillow isn't the number one real estate destination site yet, but it's got momentum. Realtor.com isn't bringing any game. They need to come up with something better than four free photos, and quick.

Published: May 20, 2008

Use of this article without permission is a violation of federal copyright laws.




Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment.

Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's.

Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68.


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Review - Honors

In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.

     

Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans.


Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR

"The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors

Coverage from WSMV, Nashville - 8-14-2007

That Interview Guy - Get Inside The Head Of Today's Generation
2007 AE Institute Session - To purchase
2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9
HouseValues Mastermind call - Parts 1 2

Blanche's fireside chat with Jeremy Conaway, HAR - Click here.

To contact Blanche, email her at .

For more articles by Blanche, click here.



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