Real Estate websites – The Problem With Big Tech

Real Estate websites – The Problem With Big Tech

by | Oct 22, 2020 | Uncategorized | 0 comments

 

 

So my name is Pete Thorpe. I am one of the co founders and partners of minutepages.com. So for me, minute pages is a means to an end. And by that, I mean a means to the end of corporations, Zillow, homelight.com, all these big tech companies and their hands being in my pocket. So we put a lot of time in as a real estate agent. We put in a ton of work, we put it into marketing, we put it into meeting with people. We put it into being just out in the world and engaging with people locally. And these large corporations, they basically paid pennies to Google and to other other search engines to go ahead and show up on the first page of Google. What they ended up doing though, is when the consumer goes, they find that site, they go ahead and click on that link. And then they are conduit that goes ahead and connects them with a realtor in doing that. They are essentially going and saying, well, we’re going to take 20, 25, 30, 35% of the commission that the agent makes by just making that introduction. So the idea is to bypass having to have that introduction because they don’t have anything else to do with the transaction.

In fact, most of their data is flawed. So they’re sending you old listings homes that aren’t for sale properties. They’ll never be for sale. If a home hits a pre foreclosure list, it’s going to sit on all those websites forever. And we’ve got clients that will reach out and be like, ”I want to see this house”, ”I want to buy this house”, but the house isn’t even available. So you end up having to sift through a lot of that stuff that consumers get upset about and they just click, keep clicking on that button to go to the next agent and we’ll show them the house that they want to see. You know, it doesn’t exist. They’re causing more confusion in the marketplace and in doing so, they’re also sticking their hands in the agent’s pocket to get paid for just making introduction that would have happened naturally. If they did a search in a local area and found an agent that way.

 

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