Question Details

MEG SAHDALA, Real Estate Pro in Miami, FL

I am curious if anyone has experience with Zillow pay-per-zip code lead generation program. I would like to know how effective this REALLY is.

Asked by MEG SAHDALA, Miami, FL Wed Mar 6, 2013

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15
$9M a year in commissions? I've got to meet this guy.
Web Reference: http://www.archershomes.com
1 vote Thank Flag Link Fri Mar 8, 2013
I'm guessing this was supposed to read 9 million in sales? Even at that a great ROI
Flag Fri Oct 18, 2013
Thumbs up for Michael please Scott!
Flag Mon Mar 11, 2013
It's $9M/year in sales, which is also fantastic for $24K in advertising.
Flag Sun Mar 10, 2013
Can I give you 2 thumbs up? LOL
Flag Sat Mar 9, 2013
I had an agent in my last office that was spending 24K a year. 12k with zillow and 12 k with trulia and he was making 9 million a year.
1 vote Thank Flag Link Fri Mar 8, 2013
We use here in WI and i just updated our stats:

49 solid leads 1/1/14 - 4/1/14(Leads that left message, we called back and they had a convo with us)

Total ad spend: $2,376.18

Cost Per Lead: $48.49

Closed transactions thus far: 3 (2 more pending)

Zillow is def worth the cost. Plus we are hold for our main zip code so these stats are secondary markets.
0 votes Thank Flag Link Tue Apr 15, 2014
That's pretty impressive results. For my market, to get that many leads would probably run 3-4 times as much. Is this ~10% conversion rate typical for you?
Flag Tue Apr 15, 2014
not a home buyer, im an agent...messed that up in the create profile page :(
Flag Tue Apr 15, 2014
Really good info. I've been wondering the same thing!
0 votes Thank Flag Link Fri Oct 18, 2013
Overall I have found that Trulia generates more and for the most part, stronger leads.
0 votes Thank Flag Link Fri Oct 18, 2013
9 Million in Sales Volume I can see... 9 Million in GCI... Now that would be a different conversation all together. What's average median in this area?

9 Million in volume it would put his GCI somewhere in the 225-270K range. I could see it as a reality... 750K in closings monthly on an average. One closing a month at that price point with 2.5% commission would put him at 225K, or at 3% at 270K.
0 votes Thank Flag Link Thu Oct 17, 2013
Only question though is whether this is that agents reality.
Flag Thu Oct 17, 2013
Hi Meg,

Like most lead generation sites, you get what you put into it. If you are responsive to inquiries, consistent with your follow up and have a decent conversion rate, you will probably do well. However, I would caution you to thoroughly scrutinize the zip code you are purchasing. I purchased a zip code on Zillow that had a large mobile home community in it so many of the leads I received were for mobile home purchases which is a little outside of my wheelhouse!

Best of luck!

Barbara Grandolfo
0 votes Thank Flag Link Tue Mar 12, 2013
9 Mill a year.
10% industry average on advertising
Annual budget for advertising $900,000
It is very likely this mega star is in every real estate book, newspaper, billboard, bus bench, civic organization and little league team in the area. At this level, advertising is as much about denying your competition access as it is growing your business.

I would bet the 9 Mill man is not following up on aggregate website vapors but there is some intern looking to earn their wings developing the ability to work by the numbers, not the outcome.
0 votes Thank Flag Link Mon Mar 11, 2013
I'm not fond of Zillow for 2 reasons, they do not seem to be as user friendly to the general public as Trulia and they do not have as much exposure. I am not ready to venture away from Trulia as of yet.
0 votes Thank Flag Link Sat Mar 9, 2013
For some reason unknown to me no one has ever made contact with me through Zillow, ever! I am not paying for any of their featured programs but I am not "pro" here on Trulia and I am getting a huge number of leads on a daily basis. It is important Meg, that you only take into consideration any positive feedback from agents in our local market, Zillow may be very popular in other States but how about South Florida?
0 votes Thank Flag Link Thu Mar 7, 2013
I am using it and have found the return on my investment to be well worth the cost BUT and this is a big but, to be successful you need to dominate the zip code which I do for 2 of the 3 in my area. Also don't lose sight of the indirect business it will bring your way--yes, I get many leads from potential buyers but additionally I pick many listings because of the exposure I can provide to sellers in my area.
0 votes Thank Flag Link Thu Mar 7, 2013
Scott has hinted at the essential element.
You need to understand who is using Zillow and/or Trulia.
You must decide if are going to incubate or sort.
With this understanding you must make a business decision...chase vapors or implement the correct strategy for sorting out the duds. It's not rocket science.
You make no money chasing vapors.
You will make money with the proper self-selection mechanism.

Before you hand over your hard earned money, you would be WELL advised to run a shill through the process. This exercise will make clear what is smoke and what is real. Both Zillow and Trulia sales folk sell smoke. YOU MUST IDENTIFY WHAT IN THEIR SERVICE CAN BENEFIT YOU. It is not what they are selling. But, if you respond according to YOUR observation, you will generate the business from the segment you want. If you don't do this you will be spending way too much time responding to people who are unable, unqualified and will never be able to buy or sell. Be the buyer or seller you want to do business with and get the consumer experience. You will then see the fabric behind what others have written regarding the BEST way to leverage aggregate websites.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Thu Mar 7, 2013
You get many, but how good they are is the question. Alot of work going through the non qualified leads with out any results. You would have to pay to take the entire zip to to get all teh leads and work them correctly.
0 votes Thank Flag Link Thu Mar 7, 2013
Hi Meg.

I've heard from one or two agents that it's very, very effective, but only if you dominate a particular zip code.

It would be difficult to compare apples to apple with Trulia, no? They are probably both very close on ROI. You can try both at the same time, same budget, and track your results. Personally, I think it will wind up within a few dollars of each other when you finally tally your results.

GOOD LUCK.

Scott Miller
Realty Associates
Boca Raton-Miami Beach, FL
0 votes Thank Flag Link Thu Mar 7, 2013
When I used Zillow I received a total of ZERO leads. Trulia has proven to be a great lead generator and I would NOT trade Trulia for Zillow any time soon.
0 votes Thank Flag Link Thu Mar 7, 2013
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