NRT, one of the nation’s largest real estate companies, is preparing to compete directly with powerhouse national lead-producing sites like Zillow, Trulia and Realtor.com, by consolidating its regional sites and launching its own property valuation/ IDX consumer services. The idea is to attack those top-ranked sites head-on, while reducing the need for NRT-owned brokerages, like Coldwell Banker, ERA and Sotheby’s, to pay for outside lead generation. Instead, NRT plans to generate its own “scrubbed” leads and sell them back to their own agents for 35% referral fees.
NRT generated about 1.5 million leads for its agents, last year, with almost 2/3 of those coming from sites like Zillow and Trulia. By consolidating and improving their websites, the plan is to reduce spending on those leads from outside sources, while increasing internally-generated leads. It will be interesting to see how that plays out alongside the recently-announced merger of Zillow and Trulia.
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