State of Real Estate Technology

Aug 10, 2016 6:07:47 PM

Industry Update

In today’s Mega Technology Camp, Vice President of Industry Development Cary Sylvester gave an update on listings – focusing on how KW associates’ listings are treated in syndication and the impact of the industry initiative Upstream.New Zillow Listing Treatment

While we know that the conversion rate of leads from online advertising is -32 percent, we also know that our consumers are visiting this sites. With that in mind, Keller Williams associates have the benefit of a negotiated listing treatment on Zillow Group sites: Zillow.com and Trulia.com.

Cary_Sylvester_State_of_Industry_2.jpgAll KW listings now prominently feature the name, photo and phone number of the listing agent, highlighting what matters most: the agent’s brand.

The goal in this negotiation was to create a win-win deal – one that creates the strongest possible branding opportunity for KW associates while allowing Zillow to follow their business model. As Sylvester reminded the audience, Zillow is a media company that sells advertising and their goal is to sell leads to agents, while our goal is to ensure that all leads go to the listing agent. Those two goals just don’t add up.

So we worked to negotiate the best possible solution. In return for being the only brand featured, KW associates will see an unbranded contact form that goes to a premier agent below the agent branding.

This new treatment prioritized creating the strongest possible branding for Keller Williams associates – better than any other franchise. In fact, we’re the only company today with this treatment.

So at Keller Williams, associates don’t have to pay to protect their listings.

Upstream

Upstream is a game-changing opportunity for our industry – transforming the way real estate data is entered, stored, edited and distributed. As Sylvester said, “When we talk about innovation in the industry, Upstream is the first, most critical step in streamlining the industry and creating an environment of innovation.” Keller Williams Realty has been driving this initiative from the very beginning and is dedicated to ensuring its success.

Cary_Sylvester_State_of_Industry.jpgCurrently in pilot testing, Sylvester announced the four Keller Williams offices participating in the Upstream pilot:

Keller Williams Realty Arlington

Keller Williams Realty Los Gatos Estates

Keller Williams Classic Realty Northwest

Keller Williams Realty of Eugene and Springfield

These offices will be the first in the country to have the opportunity to test and provide insights into the development of this transformative technology. We know the potential impact of Upstream is enormous, and the contributions these offices will be making to ensure its success are invaluable.

The Keller Williams commitment to growth, productivity and innovation is paving the way for our entire industry.

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