Realtor.com Showcase Listing Program and Training Class

6/22/2009

When we recently expanded, I found out that Prudential Classic was 100% subscribed at the agent level for the Showcase Listing plan at REALTOR.COM and the agents were clamoring for a continued presence in the Company Showcase program. Because of this, I have reviewed the Company Showcase program at REALTOR.COM to determine its value.

So, what is the difference between a regular listing on Realtor.com and a Showcase listing? Is the Company Showcase program significantly better for our clients and for you? Are we losing listings? Why am I hearing more and more that our clients want the enhanced listing package? Why can’t each agent make this decision instead of it being made at Company level?

REALTOR.COM requires 100% enrollment to participate and it cannot be broken apart by office locations. The price is a fraction of what you would normally pay on your own. Many of our competitors have already subscribed and have “raised the bar” at the compete level for listings. For example, Coldwell Banker, and almost all of the Century 21 offices are 100% subscribed to the program. In addition companies like ERA, GMAC, Phyllis Browning, Kuper and a host of other real estate companies are also subscribed. If you already participate in an enhanced agent listing package with REALTOR.COM, you will be pleased to know that your costs are going to be a fraction of what you already pay. In addition, you will receive a refund of your pro-rated investment in the program.

A company showcase listing allows the agent to enter up to 25 photos per listing. It should be noted that the default search results on realtor.com shows the homes with the most photos first. Second, company showcase listings allow the agent to modify the remarks. In addition, company showcase listings have a dynamic logo that links to our website. As you can see, your listing is much more likely to be seen by the consumer and we are more likely to capture buyers. It should also be noted, that most consumers prefer to view listings based on the number of photos according to realtor.com. A company showcase listing also shows the consumer the number of pictures they will be able to see on the thumbnail description of the listing – encouraging consumers to click-thru if there are lots of pictures. Regularly formatted listings are plain, including many advertisements and do not show how many photos there are. In addition, with Showcase Listings, on the detail page you will see the agent photo and contact information plus the company logo link to our webpage. Over the years, I have often heard of sellers complaining about the lack of opportunity to change the remarks on REALTOR.COM or ask why they can’t have more photos. With the showcase listings program the remarks can be changed to meet your clients needs. The ability to modify the remarks is a huge benefit. I know of agents investing as much as $700 to satisfy their clients and keep a listing. I have also seen agents relinquish a listing because they were not willing to invest in an expensive agent showcase listing program on REALTOR.COM.

If you are not a listing agent, how can the Company showcase program benefit you? First, showcase listings should allow us to successfully compete for more listings. More listings means more signs and more signs means more duty calls. Second, the default results format with the number of photos as the first sort means that company showcase listings will be seen first by consumers. Obviously, that is a huge advantage and will allow greater opportunities for duty agent's to receive calls off of REALTOR.COM searches. REALTOR.COM is the number one search site in the country. No other site comes close to matching them. The bottom line is we should have more listings and more duty calls. For those reasons, buyers agents also benefit from the showcase listing program.

When we all choose to invest in the showcase listings, there is a huge cost savings. Most agents choose not to invest at the individual level because of the significant costs. However, when the deal is negotiated and under contract at the company level the cost for agent is less than $.38 per day. The cost is $11.50 per month per agent. I realize most agents like to make this kind of decision on their own. Unfortunately, this is not possible. As I previously mentioned, REALTOR.COM requires 100% agent participation in order to take advantage of the very beneficial pricing. Some agents pay thousands of dollars per year to take advantage of an agent showcase program that is inferior to the Company showcase program. It is impossible for any agent to invest in the least expensive agent showcase program without paying almost $400 a month. As you can see, your investment is about a third of the lowest amount you might expect to pay individually.

After considerable thought, and after our discussion at our most recent sales meeting, I had to make a decision . I hope everyone understands and appreciates the decision. We have decided to follow the same path that Century 21, Coldwell Banker, Phyllis Browning, Kuper Realty, GMAC, ERA, and a host of other competitors have chosen to follow. I apologize to those who desire to make an individual decision in this matter. Unfortunately, REALTOR.COM requires 100% participation and I had to make a decision. Again, if you have any questions please do not hesitate to contact me.

There will be a training session Thursday, July 2nd at our sales meeting from 9:30 to 11:00 for the training portion. Realtor.com will provide a trainer.


Thanks,
Bernie Johnson