David G. from Zillow — rumored to have implanted a chip in his brain that notifies him whenever a Technorati Zillow-tagged blog entry gets posted — noted in comments to my previous post that 86% of Zillow users own their own home, compared to the 69% nationwide average home ownership rate.
First, it makes good sense that the large majority of Zillow users are homeowners. I wouldn’t be surprised if the remaining 14% intend to become homeowners.
Secondly, since homeowners are on the whole more wealthy than renters, David G. points out that Zillow’s audience probably skews towards the higher end income bracket.
What does this mean for us real estate professionals? Quite simple: If Zillow is frequented by relatively wealth homeowners with a strong interest in real estate and by non-homeowners who for some reason also have a strong interest in real estate…then why the heck aren’t more of us advertising on there?
The usual real estate brokerage suspects are there — ZipRealty as well as everybody’s favorite punching bag Redfin, whose CEO Glenn Kelman was recently nominated by none other than Greg Swann as “the maverick of greatest contemporary influence on the real estate industry”.
Where are the others, the large, more traditional brokers? Where’s Coldwell Banker and its Cendant/Realogy Brethren Century 21, ERA, and Sotheby’s? What about Prudential and ReMax? What about my broker, Alain Pinel Realtors, a local powerhouse?
If your advertising dollars are worth spending on ads in print publications like Gentry and the Wall Street Journal, why not on Zillow?
Tags: Alain Pinel Realtors, Century 21, Coldwell Banker, ERA, Glenn Kelman, Online-real-estate-advertising, Real estate, Real-estate-advertising, Realogy, Redfin, ReMax, Sotheby's, Zillow, Zip Realty
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