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Any realtors here attend the Inman conference

Discussion in 'General Business' started by NewComputer, Aug 22, 2004.

  1. #1
    This is not directed to realtors only and some of you may find this very interesting, but if there were any other realtors there they may be able to correct what I write if I miss quote.

    Basically, Google gave a little speak on their position of real estate on Google. There thoughts "If you are currently making money from search postings on your real estate website, be prepared to pay for your position"

    They went on to say that all these realtors, referral companies, interlopers etc... were making a lot of money on referrals because of their SE and that all these companies had better be prepared to buck up to maintain their current position.

    They were very arrogant in their delivery (I guess they have earned the right) and I suppose they have a point. There was a decent amount of panic from some of the realtors there. Anyways, I imagine there are a few companies that are making money like this (actually, we all are) so it will be interesting to see how they implement said changes.
     
    NewComputer, Aug 22, 2004 IP
  2. Dominic

    Dominic Well-Known Member

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    #2
    Sounds interesting - can you elaborate with out using industry terms (maybe give an example of what they are talking about
     
    Dominic, Aug 22, 2004 IP
  3. NewComputer

    NewComputer Well-Known Member

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    #3
    Realtors and real estate companies are notorious for trying to get the number one for position search terms like "homes for sale in city, state/province". From there, depending on whether they are a realtor (Atlanta realtor, myself and a few others), referral company (lending tree, service magic) or interloper (will be left nameless) a few things happen.

    Mostly, clients will be asked to fill out some personal information to before they view listings (either via VOW, IDX or some other means of listing delivery). Once that information is gathered, the realtor will call, the referral company and interloper will deliver the clients to a realtor for a referral fee.

    So Google is providing top postings for these sites, and in turn providing clients that these companies are selling of for anywhere from pay per lead to upwords of 35% of the closing commission.

    It is very lucrative and I think Google has had enough. I hope that made sense, I am pretty groggy today, I wrecked my shoulder working out and am taking enough painkillers to stun an elephant.
     
    NewComputer, Aug 22, 2004 IP
  4. digitalpoint

    digitalpoint Overlord of no one Staff

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    #4
    Hmmm... I should start a site that is #1 for san diego real estate. :) Who wants to pay me for my leads???
     
    digitalpoint, Aug 22, 2004 IP
  5. NewComputer

    NewComputer Well-Known Member

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    #5
    Shawn, as much as that would be great for you, both the US and Canada are very strict as to who can collect a referral. Now, if you wanted to work out a deal, we could go into business together ;)

    You should do it, just to see if you can rank number one for that term. I know between 4 -7 realtors who are actively trying to lockdown that spot, without paying for it with very little success. Would be an interesting study.
     
    NewComputer, Aug 22, 2004 IP
  6. digitalpoint

    digitalpoint Overlord of no one Staff

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    #6
    Actually, I don't think it would be terribly difficult to rank #1 (and #2) for it. But I'm not doing anything with it if I have no chance of making any money on it... heh
     
    digitalpoint, Aug 22, 2004 IP
  7. NewComputer

    NewComputer Well-Known Member

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    #7
    You could make money on it, you would just have to come to some sort of agreement with a realtor who posts on the DP boards (or another local realtor). Something like a webmastering fee for the postings, just think outside the box. Shawn, if you could get that position, and post #1 or #2, you would make a small fortune.
     
    NewComputer, Aug 22, 2004 IP
  8. digitalpoint

    digitalpoint Overlord of no one Staff

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    #8
    Okay, well if anyone wants to offer me an "agreement", then I'll do it. :)
     
    digitalpoint, Aug 22, 2004 IP
  9. jarvi

    jarvi Well-Known Member

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    #9
    NewComputer, if your interpretation is correct then google should decide what business they are in, or come out and say they want to be in the affiliate/referral business as well as the SE business. I fail to see why they should make people pay for listings just because the people happen to be making some dollars out of it for themselves.
     
    jarvi, Aug 22, 2004 IP
  10. NewComputer

    NewComputer Well-Known Member

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    #10
    My understanding was that they do NOT want to get into the referral business, but that they do want what they feel is their fair piece of the pie for providing all those eyeballs. The best way for them to get that? Make realtors pay for the positions on the most common search terms.

    It will be interesting to see if anything comes of it.
     
    NewComputer, Aug 22, 2004 IP
  11. digitalpoint

    digitalpoint Overlord of no one Staff

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    #11
    I don't think in the end Google will do it. The bad publicity they would get because of it would hurt them more than the money they would make. Google's biggest strength is the fact you can't buy you way to the top of the natural listings, and they know that. But who knows... {shrug}
     
    digitalpoint, Aug 22, 2004 IP
  12. Dominic

    Dominic Well-Known Member

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    #12
    Don't know if you guys are seeing it or only google Australia show it, but a search on the san diego phrase gives you this (where news usually shows at the top of the serps):

    Local results for real estate near San Diego, CA
    Rutter Michael G - < 0.1 miles NW - 1001 8th Ave - (619) 435-2102
    Home Loan Center - < 0.1 miles NE - 1027 10th Ave - (619) 858-1066
    London Group Realty - 0.2 miles SE - 825 10th Ave - (619) 325-5710

    Must be what they are talking about.

    'Local Results' I'd say this won't be limited to the 'real estate' stuff but google's new pay for inclusion system they are probably going to roll out accross the board IMO.

    If you guys aren't seeing it someone pm me and explain how to put a screen shot in.
     
    Dominic, Aug 22, 2004 IP
  13. Dominic

    Dominic Well-Known Member

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    #13
    Here we go - here it is:

    [​IMG]
     
    Dominic, Aug 22, 2004 IP
  14. Dominic

    Dominic Well-Known Member

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    #14
    Dominic, Aug 22, 2004 IP
  15. NewComputer

    NewComputer Well-Known Member

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    #15
    Dominic,

    I have figured out a way to be the number one spot within the local results for anywhere in the the US. The local results are not yet available in Canada, but there is a way to be number one there. The results in those local results are terrible anyways. The sites are are very irrelevant or serve very little usefullness, at least on the real estate side.

    That number one spot should be yours Shawn. If you build it, they will come...
     
    NewComputer, Aug 22, 2004 IP
  16. Dominic

    Dominic Well-Known Member

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    #16
    What's that - get a post office box at the dead centre of the city and list that as your location?
     
    Dominic, Aug 22, 2004 IP
  17. NewComputer

    NewComputer Well-Known Member

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    #17
    BINGO! That didn't take you long :) That is exactly what it is, but you look and listen out there and people (realtors) especially are in panic mode trying to figure it out.
     
    NewComputer, Aug 22, 2004 IP
  18. john_loch

    john_loch Rodent Slayer

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    #18
    Hmmm this could be fun ;)
     
    john_loch, Aug 22, 2004 IP
  19. NewComputer

    NewComputer Well-Known Member

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    #19
    JL, what are you up to.....
     
    NewComputer, Aug 22, 2004 IP
  20. john_loch

    john_loch Rodent Slayer

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    #20
    Shawn, you going to do it ?
     
    john_loch, Aug 22, 2004 IP