A WAV Media Group survey of over 6,400 consumers found that accuracy concerns are key, and that on some non-Realtor.com real estate search sites, listings show up seven to nine days after their posting to the market’s MLS, which in many markets is too late, given the reduced time on market of late. Further, the study reveals that third party portals can show as few as 63 percent of the homes actually available in that market.
Realtor.com has long been beating the drum that they’re the most accurate of the big three, but in response to rising consumer concerns (which naturally come from experience and comparing products), they will today launch two 30-second ad spots – “Mom” and “Doghouse Architects,” which will hit national airwaves, taking a strong position against competitors, touting the accuracy of their data.
Both ad spots
The following ads are set to run through 2014:
More than just a marketing blitz
We have long said that the only way consumers will become educated regarding accuracy is through Realtor.com’s efforts, and today, they have risen to the occasion. While competitors have massively improved their data accuracy in recent years, Realtor.com is widely thought of as the leader within the industry regarding accuracy when it comes to national real estate search sites, but getting consumer buy in is more important than ever.
The ad spots highlight the problematic out of date listings on competitor apps and websites, which consumers can easily connect with in such a tight market. In a statement, the company says they will roll out the second stage of this campaign later this year when they debut their collaborative campaign with the National Association of Realtors.
In a statement, the company noted, “The accuracy of realtor.com® is based on its unique, direct relationships with more than 800 multiple listing services that provide consumers with 98 percent of all for-sale properties listed in the U.S. The powerful combination of comprehensive information persistently updated every 15 minutes ensures that consumers using realtor.com® can make smart home buying and selling decisions.”
Consider this shot over the bow step one in the concept of data accuracy going mainstream. Consumers have now had long enough to try out various search options over the year, and Realtor.com has the benefit of a tight market right now. Watch for competitor press releases about the importance of, and tweaking of data accuracy to hit the wires in response, because they’ve all been working to improve on this very thing.