ListTrac, known as the “Google Analytics for real estate listings,” today unveiled its revenue model, a breakthrough for the real estate industry as it allows, for the first time, a method for real estate professionals to monetize their own listing content as it’s distributed across the Internet.
“Just as musicians are compensated each time their song is played on the Internet, ListTrac wants real estate professionals to be rewarded every time their listing is viewed on the Internet,” said Trent Gardner, CEO of ListTrac.
ListTrac is a free tool allowing real estate professionals to monitor their listing’s online performance in their MLS system, broker and agent IDX websites, and real estate portals. Rapidly growing ListTrac is now partnered with many of the nation’s largest Multiple Listing Service firms, providing listing metrics and reports to over 400,000 agents while monitoring over a half-million listings. According to comScore, real estate listing content across thousands of sites attracts some 300 million “eyeballs each month,” Gardner notes.
“For years, companies have taken listing content and assembled multi-billion dollar business models by monetizing the ‘eye-balls’ looking at this valuable content,” Gardner explains. “However, these business models don’t allow brokers to participate — so they have been sidelined watching others make millions of dollars in IPOs off of their content. ListTrac helps change that paradigm with a framework allowing real estate professionals to monitor andmonetize their listing content.”
Gardner notes that ListTrac went through an arduous process meeting with MLS tech committees, syndication task forces and MLS boards — all populated with agents and brokers — to ensure that no personal information would be shared and that no MLS listing content would be licensed or sold.
“ListTrac appealed to our leadership for two primary reasons; their commitment to security in guarding personal information and listings content, and their deep bench of analytics,” said James Harrison, CEO of MLSListings Inc. “The real estate professionals in our Silicon Valley marketplace are Google neighbors, so the bar for analytics is a high one. ListTrac and its growing list of participating portals gives our community what it needs to serve their clients,” said Harrison.
ListTrac has been awarded a U.S. Patent for both the method of measuring and monetizing real estate listings and the business process of sharing this revenue with the real estate professionals that are the content owners.
Through its patented-approved process, ListTrac, working with MLS firms, help brokers monetize their listing content through the new standard of online advertising known as ‘programmatic advertising.’ Programmatic advertising allows brands to reach consumers at the right time with the right product and the right message — better connecting the advertiser and the consumer.
“This truly is a win-win for real estate professionals and consumers alike,” Gardner says.
For brokers and agents, ListTrac is a free service offered in partnership with the MLS that gives members a single dashboard: One place showing all the websites on which each listed property is being viewed. It allows real estate agents and brokers to monitor and share reports with sellers that include metrics such as number of times a listing is viewed on each site, the average time someone spends viewing each listing, and the number of leads they are receiving from each site.
ListTrac’s business model — including revenue sharing agreements with all ListTrac customers — is currently scheduled for implementation by the end of 2015, with revenue generation expected to begin in early 2016.
ListTrac, known as the “Google Analytics for listings,” 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 and fully transparent view of where and how listing content is being interacted with across the Internet. Located in Southern California, ListTrac’s team has been building innovative and novel tools for the real estate and mortgage industries for over 12 years.
WAV Group for ListTrac