comScore

Web analytics

If you ask any REALTOR® about the relationship between online website traffic and sales volume, they will tell you that there is a direct relationship. The conviction among Realtors® is that companies that have the most amount of consumer website traffic sell the most amount of homes. This belief has stirred the root of Realtor® emotions, causing them to vilify the Zillow Group. A new entry of concern is Redfin®, a company that has long battled with Zip Realty® for online website domination. Redfin’s IPO has been a great success that is causing competing brokers to contemplate their future in this online real estate landscape. WAV Group just completed a case study to explore the correlation between online success of a brokerage and transaction volume. The results of our survey indicate that winning online does not correlate to transaction success. The methodology for our research used the Seattle marketplace. This is Redfin’s top marketplace of any city in America. The top 10 broker websites for Seattle were culled though research using comScore and Hitwise. These services combine a number of methodologies for estimating web traffic to broker sites. They are not exact, like Google Analytics – but they do accurately estimate the share of consumer voice. As a percentage of overall traffic, they are very accurate. Seattle Share of Voice The total share of voice for all sites becomes negligible when you get down below ½ of a percentile. The top 10 consumer sites in the Seattle area contribute 65% of all consumer traffic. Below the top 10 are thousands of agent and broker websites that combine to deliver the other 35% of consumer traffic. Zillow’s estimate traffic is about 850,000 users per month in Seattle. They have about 1/3 of all traffic, so the total consumer audience is about 2.5 million consumers a month. Zillow – 31.0% Redfin – 15.2% Trulia – 7.4% Realtor.com – 7.1% Windermere – 1.3% Homes – 1.3% John L. Scott 1.0% Movoto – .7% Estately .7% *Coldwell Banker would be in the same ballpark at Windermere and John L Scott if you combine the traffic from the multiple Coldwell Banker sites. Seattle Share of Market There are a number of ways that you can measure market share by real estate brokers. Some look at units, others look at volume. For the purposes of this evaluation, we have chosen to look at units in 2016. […]

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