Listtrac

The room was filled with brokers, eager to hear how the real estate industry is beginning to make great strides in wrangling Big Data to the benefits of everyone: Brokers, agents and consumers. The three panelists on stage represented a broad spectrum of the industry: Rainy Hake, a well respected brokerage leader who oversees the Technology, Marketing, Training and Strategy departments for Alain Pinel Realtors; Trent Gardner, the CEO of ListTrac, known as the “Google Analytics for Listings;” and Jeremy Crawford, the dynamic MLS leader who heads up RESO (Real Estate Standards Organization) and the chief evangelist for the Data Dictionary, real estate’s “Rosetta Stone.” Rainy shared a very telling observation during this session at San Francisco’s Real Estate Connect: How the self-reporting data does not match up well with their own tracking data. This comment has been haunting me ever since, because the two other panelists represent organizations – RESO and ListTrac – are about data standards, transparency and unbiased, accurate information. Standards are vital RESO has gained real traction and its trailblazing effort to standardize data fields for property information will be a welcome Godsend to real estate brokerages and technology firms. Back by the NAR mandate of adoption by MLS firms that are connected to NAR (which is almost all of them), come January 1, 2016, the industry will be taking a bold step forward toward fostering accelerated innovation and cost savings. For a brokerage in multiple markets that works with a dozen or more MLS firms, the RESO Data Dictionary is a huge step in standardization. For the newer startups, a company like TLCengine, they gain both development costs savings and a new ability to expand into more markets faster. During the panel’s session, the majority of questions from the brokers and agents in the audience were centered on property listing standards. It became very clear that agents and brokers are incredibly frustrated because of the lack of standards among MLS firms. In fact, Jeremy said that after the session, he answered questions off stage for another hour and had to take business cards for those who were still waiting to talk to him so he could follow up with them and not miss his next appointment. The need for transparency If there is a hunger in the real estate industry for data standards, there is an unquenchable thirst for transparency and unbiased information. At the […]

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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 […]

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New Tracking Tool Shows Where Real Estate Agents Get Their Most Leads San Diego – May 8, 2015 – ListTrac, known as the “Google Analytics for real estate listings,” today announced that Rapattoni Corporation (Rapattoni), a leader in providing software and services for real estate associations and MLS organizations, is the first MLS system provider to offer ListTrac integration nationally for MLS customers who subscribe to the ListTrac analytics service. The move allows real estate agents and brokers using participating MLS systems powered by Rapattoni to track consumer engagement and measure online performance for properties listed across the Internet. With 100-plus MLS clients serving approximately 200,000 users nationally, Rapattoni is providing ListTrac integration for all MLS customers who subscribe to the ListTrac service. Each MLS will individually sign up with ListTrac to receive the analytics service, with the San Francisco Association of REALTORS® (SFAR) scheduled to be the first Rapattoni customer to roll ListTrac out to its members. ListTrac will provide SFAR member brokers and agents with a consolidated dashboard that provides deep metrics for all listings with statistics for every website upon which their listings are featured. According to Madeleine Talbot-Leighton, Product Manager at Rapattoni, this new service can be a major benefit to MLS firms as their member brokers and agents can now show sellers an enormous amount of buyer engagement occurring inside their own MLS system, as well as throughout their IDX broker and agent websites. “In real estate, information is power,” said Talbot-Leighton. “MLS firms can now provide powerful analytics to their members who in turn can share this information with their clients. The impact is two-fold: MLS firms can demonstrate the value they deliver to their members every day, while their members can quantify for sellers the value they receive through the broker and agents online marketing activities.” Trent Gardner, CEO of ListTrac, sees Rapattoni filling a vital role in helping MLS firms immediately deploy a broker- and agent-centric technology that will help them improve their members productivity. “As the first MLS system to offer ListTrac analytics nationally, Rapattoni is resetting the bar for the kind of information that agents and brokers need to compete in today’s digital universe,” Gardner says. Gardner explains that within a single dashboard, agents and brokers will know how often a listing is viewed on each site, the average time someone spends looking at a listing, and the number of leads they receive […]

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  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 […]

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Build Broker Support of your MLS Consumer Website with this FREE tool! MLS Consumer Facing websites collectively deliver millions of leads and thousands of inquiries for their subscribers every year.  In every market that I have evaluated the MLS delivers 2 to 3 times the number of inquiries that any other leading third party site does including Zillow and Trulia.  Sadly, most brokers and agents are not aware of this amazing value they receive from their MLSs. I solidly believe that if MLSs did a better job of communicating the amazing marketing value of these sites, brokers of all sizes would be more supportive of the event.  In today’s climate where so many brokers are trying to find alternatives to third party sites, there is an even larger opportunity to promote the value that MLS consumer websites are providing.  I have been pleading with MLSs to share the great work they do with their brokers, but I have not seen much positive movement. Now the Realty Alliance is asking for the same thing I have been suggesting for a long time. Enter the new Fair Display Guidelines. In a nutshell, The Realty Alliance is asking that MLSs provide a consumer-facing website that follows a set of guidelines that allow brokers to control distribution of the leads from their listings and that no broker can secure an advantage over another broker.  The guidelines also require that an MLS share results of the listing exposure generated by their site. Rule 6 of the Guidelines states: Make Reports available to the broker, if available. Brokerages will receive or be able to access complete reports on any traceable activities related to their listings. This language was actually watered down because there are so FEW MLSs that actually provide an outbound report taking credit for the lead activity their site and the MLS and IDX generates for their subscribers. Since every MLS is struggling to maintain relevance and value for its brokers it makes no sense not to promote the business value that MLS provides. Everyone knows that the MLS is the #1 place to market a home, but the industry has not collected the proof points like third party sites have published. If the MLS aggregated that data, agents could demonstrate that value. HAR.com, the granddaddy of MLS consumer websites has offered their STAR report to their members for years.  Every month the organization […]

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