Recently, Minneapolis based Edina Realty pushed back against Trulia.com and Realtor.com. Edina’s CEO Bob Peltier decided that something was wrong with these aggregators scooping up listings from real estate companies to attract traffic or as the Internet world likes to say, “lots of eyeballs.” Once that traffic rolls in, the aggregators generate revenue in many ways, not the least of which is by selling advertising space.
At first, it may appear that Peltier’s gripe was with the integrity of the data in that there is no guarantee that the information consumers are seeing is accurate or up to date. Yet the real rub is that Trulia.com charges real estate agents fees to be able to “enhance” their listings. So therein lies the irony. Peltier, along with many other agents, feels no need for a middle man in that his company generates plenty of traffic best serving not only his agents, but more importantly his sellers.
Trulia.com fired back threatening that Edina’s sellers and agents would be put at a great disadvantage by losing the 17 million potential buyers that visit Trulia.com each month, but Peltier and Edina are holding tightly. Edina Realty also made a bold move away from print marketing altogether.
This is a battle worth paying attention to as the Internet plays a more significant in marketing to home buyers and sellers.
So what do you think? Do these aggregators really add value to Realtors and help them do more business or are they just taking advantage of the information that Realtors work hard to assemble!