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How Does the "Trulia" site work?

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Bear Creek03

  1. 1. Welcome
  2. 2. Michael J. Teather
  3. 3. <ul><li>Marketing/Technology </li></ul><ul><li>New Windermere .com </li></ul><ul><li>Upgrade to e-mail communication. </li></ul><ul><li>Approved Vendors </li></ul>
  4. 4. The Most Important Thing Understand that you don't get to decide what the market demands. The market does. Seth Godin
  5. 5. <ul><li>Slower market creates a stronger need for listing syndication. </li></ul><ul><li>80% of customers today are starting on-line </li></ul><ul><li>Non broker sites are rising to the top. </li></ul><ul><li>The need to compete on a national level. </li></ul><ul><li>Customer wants to see a strong brand. </li></ul>
  6. 6. <ul><li>Premier Program enhancement: </li></ul><ul><li>Leading Real Estate Companies of the World™ , the largest global network of premier locally branded companies. Together, this consortium of luxury home specialists has representation and luxury homes for sale in 25 countries and booked over $400 billion in U.S. luxury home sales last year, representing 1.4 million luxury home transactions. The Luxury Portfolio Fine Property Collection™ is the most comprehensive online source for luxury homes for sale. Site also features information on luxury trends, sales, destinations and blogs. </li></ul><ul><li>( ) </li></ul>
  7. 7. <ul><li>We are not against a national sites or an information database on real estate and related services. </li></ul><ul><li>In our collective best interest. </li></ul><ul><li>The middleman’s profit motive does not serve the consumer. </li></ul><ul><li>Keeps you, the real estate professional, as the first point of contact; </li></ul><ul><li>Doesn’t limit a consumer’s choice for representation to those offering rebates, discounts or air miles. </li></ul><ul><li>Main purpose is to allow consumers and real estate professionals the opportunity to educate one another. </li></ul>
  8. 9. <ul><li>TRULIA GROWS 3X IN 2007, BREAKS INTO COMSCORE TOP 10 </li></ul><ul><li>Edges out the competition by offering national and local real estate market data and personalized expert advice on buying, selling a home </li></ul><ul><li>SAN FRANCISCO, January 15, 2008 – Trulia ( ), the fastest growing residential real estate search engine, today announced that it is now one of the top 10 most-visited real estate website in the US, according to the most recent report released by comScore Networks Inc., an independent Internet audience measurement and consulting company. Trulia also pulled ahead of valuation site in the number of unique visitors to the site, as well as overall audience reach, according to the report. </li></ul><ul><li>Trulia has climbed 17 places in comScore’s rankings to become the seventh most-popular real estate brand for the month of December 2007—ahead of other real estate sites such as AOL Real Estate, HouseValues and ZipRealty. The total number of unique visitors to has nearly tripled in the past 12 months from 579,000 to more than 1.6 million in December 2007. According to Trulia’s internal traffic monitoring systems, between 3 and 4 million users will visit in January 2008. </li></ul><ul><li>as we help millions of consumers, our real estate partners and advertisers when they need us most.” </li></ul>
  9. 10. <ul><li>A national real estate search and listing aggregation website </li></ul><ul><li>4.9 million monthly site visitors </li></ul><ul><li>A marketing medium focused on real estate professionals marketing their brand and listings to attract clients. </li></ul><ul><li>A direct-to-agent model; they send contacts directly to the listing agent. </li></ul><ul><li>Providing real estate information to consumers at the local level to help them make better decisions. </li></ul>
  10. 11. Listings promoted on will also be available across their network of online partners Trulia also powers the real estate search for a number of online media publication websites.
  11. 12. *Statistics taken from December 2007 Hitwise Statistics of Trulia’s traffic from 3/06-1/08: <ul><li>Statistics* Snapshot: </li></ul><ul><li>Unique users per month: 3. million </li></ul><ul><li>Visits per month: 4.5 million </li></ul><ul><li>Homes for sale on site: 2.5 million </li></ul><ul><li>Property records on site: 58.0 million </li></ul><ul><li>Page views per month; results page 1: 10.0 million </li></ul><ul><li>Average time on site per visit: 12.0 minutes </li></ul>2006 2007 2008
  12. 13. <ul><li>The Trulia User: </li></ul><ul><li>Sellers: </li></ul><ul><li>Just listed their property 23% </li></ul><ul><li>Plan to list their property in next 6 months 40% </li></ul><ul><li>Buyers: </li></ul><ul><li>Plan to buy in next 12 months.: 81% </li></ul><ul><li>Plan to buy in next 6 months.: 57% </li></ul><ul><li>Pre-qualified for a mortgage: 52% </li></ul><ul><li>Profile: </li></ul><ul><li>Not yet working with an agent: 69% </li></ul><ul><li>35+ years old: 62% </li></ul><ul><li>Male/Female users: 55%/45% </li></ul><ul><li>Married/committed relationship: 75% </li></ul><ul><li>Have children: 38% </li></ul><ul><li>Annual Household income over $100K: 52% </li></ul><ul><li>Annual Household income over $200K: 14% </li></ul><ul><li>Current home owner: 63% </li></ul>
  13. 14. <ul><li>Beginning March 1 st , all Windermere listings will start appearing on </li></ul><ul><li>All properties listed by February 29, 2008 will appear as Featured Listings on for the life of the listing (compliments of Windermere and Trulia). </li></ul><ul><li>Agents in participating offices that have a complimentary Featured Listing on will receive an email on March 1 st with instructions on how to enhance their listing and profile on </li></ul>
  14. 15. <ul><li>Beginning March 1 st , agents in participating offices will be able to upgrade their listings as a Featured Listing via their MyTrulia account. </li></ul><ul><li>Featured Listings are shown in the top three positions on’s Search Results page. </li></ul><ul><li>Featured Listings will rotate depending on the number of Featured Listings in that area. </li></ul>
  15. 16. <ul><li>Listing will show in the top 3 based on search criteria, no CPM model, and featured listings get 7 times the traffic. </li></ul><ul><li>Direct link to Agent info and e-mail </li></ul><ul><li>A myTrulia account log in </li></ul><ul><li>Weekly report on click traffic on each featured listing. </li></ul><ul><li>Trulia Voices </li></ul><ul><li>Cost is $25 dollars for the life of the listing </li></ul>
  16. 17. Stats for each listing
  17. 18. <ul><li>With Trulia Voices you can establish a reputation as a knowledgeable real estate resource and neighborhood expert. </li></ul><ul><li>Connect with buyers, sellers, fellow real estate professionals and those just looking. </li></ul>
  18. 19. A True Story of Trulia Voices: The Wall Street Journal recently profiled a Windermere agent who connected with a client through Trulia Voices. The article stated, “…Lisa Suarez, an insurance broker from San Leandro, Calif., turned to a discussion board on recently after months of failing to find a buyer for her home. “ Ms. Suarez posted a message on Trulia Voices at 2 a.m. asking if anyone had any suggestions on how to speed up the process of selling her home. Within minutes, she says, she was contacted by a real-estate agent who offered some advice that Ms. Suarez liked, and the two agreed to meet. Ms. Suarez hired the agent, Cindi Hagley of Windermere Real Estate Services Co. in San Ramon, Calif., and within three weeks had two offers for her house that she is considering.” 1 1 Banjo, Shelly. “Doing Your Homework.” Wall Street Journal. 11 Dec. 2007: R6 .
  19. 20. <ul><li>How it works: </li></ul><ul><ul><li>When Trulia receives a new listing, agent will Login to their MyTrulia account </li></ul></ul><ul><ul><li>Then select listings they wish to upgrade as Featured Listings. </li></ul></ul><ul><li>Featured Listings will be good for the life of that listing. </li></ul><ul><li>Agents with a Featured Listing will receive a weekly email tracking the traffic on their Featured Listing. </li></ul>
  20. 21. Two banner positions available: a square banner on the right side of the webpage, and a tall “skyscraper” position on the left.
  21. 22. <ul><li>Three template options to select from </li></ul><ul><li>Banner will link to: </li></ul><ul><ul><li>1 st - the agent website listed on the Windermere roster by default </li></ul></ul><ul><ul><li>2 nd - to the agent’s Agent Bio page on if no website is indicated on the roster. </li></ul></ul><ul><li>Reports will be emailed monthly tracking performance. </li></ul><ul><li>Agents purchasing a banner for 12 months can upgrade their listings as Featured Listings free of charge. </li></ul><ul><li>Your banner will receive anywhere3 from 5 to 12 views a day on Trulia </li></ul>
  22. 23. <ul><li>Agents have the opportunity to own banner space for the year. </li></ul><ul><li>Limited number of banners </li></ul><ul><li>Pre sold for $1200 for the year. Includes all listings featured and no additional cost </li></ul><ul><li>You all know that very few people read newspapers really to find homes or agents today. However, you spend $200+ on a single ad on a newspaper. Now you can pay only $100 a month for much more exposure.&quot; </li></ul>
  23. 24. <ul><li>Listing Presentation Sheet will be available: </li></ul><ul><li>On the Windermere CMA Reports page </li></ul><ul><li>At WORC > Resources > Marketing > Advertising Opportunities and Resources > Trulia. </li></ul>
  24. 25. <ul><li>The Trulia folder on the WORC will have everything you need to get started. We’re adding helpful new materials each week during the launch period of this program. </li></ul><ul><li>Materials In Production: </li></ul><ul><ul><li>Trulia Opportunities Flyer – a quick description of the advertising opportunities. </li></ul></ul><ul><ul><li>Trulia Statistics – a one-page overview of Trulia. </li></ul></ul><ul><ul><li>Listing Presentation Sheet about Trulia available on the Windermere CMA. </li></ul></ul><ul><ul><li>Featured Listing -- How-to instructions. </li></ul></ul><ul><ul><li>Getting Started with Trulia Voices video – a short video with instructions and ideas for utilizing Trulia Voices. </li></ul></ul><ul><ul><li>Agent banners on . </li></ul></ul>
  25. 30. <ul><li>Microsoft Virtual Earth </li></ul>
  26. 31. <ul><li> redesign </li></ul><ul><ul><li>Herbert Research for user studies </li></ul></ul><ul><ul><li>Our goal will be to enhance the user experience </li></ul></ul><ul><ul><li>Get the customer to what they want as fast a possible with the most desired method. </li></ul></ul><ul><ul><li>Better photo viewers and enhanced listing information </li></ul></ul>
  27. 32. <ul><li> We have been in conversations with in response to many of you who have sellers demanding it. </li></ul>
  28. 33. <ul><li>Microsoft Exchange: In everyday terms this is Outlook which is the defacto standard around the world for messaging and calendaring. We are negotiating a price for owners and agents that will be unusually competitive and enable all 9,000 of us to be on the same communication server. Another way in which we are bringing efficiency and speed and ultimately better service to customers. </li></ul>
  29. 34. <ul><li>Vendor Relations </li></ul><ul><ul><li>Sprint 13% discounts </li></ul></ul><ul><ul><li>Verizon 19% discounts </li></ul></ul><ul><ul><li>AT&T 13% discounts </li></ul></ul><ul><ul><li>T Mobile 12% discounts </li></ul></ul><ul><ul><li>All information is located on the WORC site under keyword cell plan. </li></ul></ul>
  30. 35. <ul><li>What is most important? </li></ul><ul><li>Frankly, the future is unknown. </li></ul><ul><li>We do know that regardless of the economy Windermere tends to outperform its competition. </li></ul><ul><li>Regardless of technology, regardless of interest rates, regardless of the economy, our citizen agents continue to set the standard for how to treat customers. </li></ul><ul><li>It is that value which has sustained us and will always be our fuel for success. </li></ul>
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