RE Sales pull listings from Zillow & Truilia Transactions Up!

[Meandering]

Five months after pulling its Memphis, Tennessee, listings from Zillow and Trulia, Crye-Leike Real Estate Services said it stopped providing information about homes its agents represent in two Arkansas markets — Little Rock and Hot Springs — to the national portals today.

The real estate brokerage firm had cited concerns about the portals’ accuracy and issues with their business models when it pulled nearly 3,000 listings in Memphis from Zillow and Trulia in January. The success of that decision compelled Crye-Leike to pull its listings from the two portals in Little Rock and Hot Springs.

Crye-Leike’s sales volume in the first quarter in Memphis was up 14 percent and its transaction sides were up 4 percent from the previous year, said Crye-Leike Executive Vice President Steve Brown. In addition, the firm’s share of listing inventory rose from 27.3 percent to 28 percent over the same period in the market, he said.

http://www.inman.com/2014/06/02/cry...40602&utm_medium=email&utm_campaign=newsflash


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[Terrel L. Shields]

They have internet in Little Rock? Amazing...

Seriously, these sites greed may be their downfall. When the investors in Zillow and Trulia, realize that perhaps these portals are not "producing", in fact, may be hurting sales, then the investors may panic as they lose a ton of Realtors bolting for the door...and they are the ones who make these outfits profitable.

Could result in the consolidation of any number of such sites.

 

[VolcanoLvr]

A friend's father is a licensed agent. Has decided to sell the house. Put it on Zillow rather than the local MLS.

But had initial hits, but no recent activity. Might relent & use the MLS.

Apparently LOTS of lookers & potential buyers use web sites first to find properties for sale, then go talk to an agent.