Greater Alabama MLS and ListTrac put out a joint press release that you will find below. ListTrac is free, which makes it an attractive product for any MLS. We are keeping a close eye on them to see how it goes. Today, the voice of real estate seems to be the publisher sites – nobody is counting the traffic in the MLS or IDX sites. However, we know from looking at MLS activity, auto-email, MLS consumer website traffic, and, IDX site traffic that – if measured, equates to some significant consumer listing engagement. Under NDA, WAV Group has seen some of the early reports where ListTrac is installed, and the traffic is huge. Mid-sized MLS are sending out 6 million consumer emails every month at 80% open rates. MLSs have significant daily traffic and listing impression numbers. ListTrac pulls all of that data together so sales associates and brokers can include that information along with portal traffic in telling a seller how their listing is being marketed. I have not noticed any other ListTrac press releases, but I know that they are installed in a few markets because we have reviewed the reports. The console operates in real time – which is surprising.
I am interested to see how consumers react when they see how much marketing is being done in the MLS and IDX sites.
Listhub has been doing a great job of reporting on syndication sites. I am not sure if Listhub has been installed into any MLS system. I think that they are installed in piecemeal fashion on broker sites. Onboard tested the thesis that ListTrac is delivering in MRED a few years ago. From what I have seen so far, this product has some strong legs. Time will tell….
Press Release follows:
-New Capabilities Help REALTORS® Measure and Report on the Effectiveness of IDX, MLS, and Syndication Marketing
SAN DIEGO, CALIF., August 12, 2014 – The Greater Alabama MLS and Birmingham Association of REALTORS® have entered into an agreement to provide ListTrac™ as a member benefit to their broker and agent subscribers. With this new service, the Greater Alabama MLS will be monitoring and measuring engagement every place a listing is viewed by a REALTOR® or a consumer. Greater Alabama is joining a handful of other leading MLS in America who are pioneering this effort to improve the management of listing data online.
“As online advertising evolved, our industry became very good at supporting agents and brokers with marketing listings in the MLS and though Internet Data Exchange (IDX). We have also made great strides at supporting the marketing of listings on third party portals. Until now, what we have not been able to provide is the ability for a member to know the effectiveness of these marketing efforts, to be able to show their seller where their property is being viewed” says James Harwell, President of Greater Alabama MLS.
The ListTrac services works like a service akin to Google Analytics. A snippet of monitoring code is placed on websites that display MLS listing content. The MLS system itself also includes the snippet of monitoring code. The monitoring code sends information back to the ListTrac server where it is stored and accessed by the MLS and its members. The MLS, each member agent, and each participating broker is provided with a dashboard to view where listings are being viewed and where they are getting the most online exposure. REALTORS® may also invite their seller to have their own dashboard which shows how many impressions their property is getting online and where the impressions are coming from. There are three primary channels where listings are viewed online. The MLS, IDX powered agent and broker consumer websites, and portals. ListTrac is the first commercial service to measure listing engagement across all three.
“We have been a solutions provider in the real estate space for 12 years,” says Trent Gardner, co-founder of ListTrac. “We built ListTrac to measure engagement across the MLS, IDX sites, and the national portals – it occurred to us that every MLS service provider would want to monitor and report these online metrics to their members. The holistic reports offered by ListTrac provide the science for brokers and agents to make informed decisions about where their listing campaigns are being most effective – no one else provides this comprehensive view today.” With ListTrac, agents and brokers will no longer be guessing about where to market listings effectively online. They will be able to view engagement in real-time and transparently share that information with the seller.
ListTrac is a complimentary, monitoring and reporting platform for real estate brokers, REALTORS® and sellers to measure user engagement data related to their listing content. ListTrac provides a holistic view of where and how listing content is being interacted with across the Internet. Located in San Diego, California, ListTrac’s team has been exploring the real estate domain for novel tools for over 12 years.
About Greater Alabama MLS
The Greater Alabama MLS has approximately 3,200 members and providing service for 11 counties.
Greater Birmingham AOR and MLS