I have been watching big tech become involved in advertising and steering buyers and sellers to sites that claim they will help you find The Best Real Estate Agent in Gainesville VA, or The Best Real Estate Agent in Haymarket VA, or The Best Real Estate Agent in Manassas, feel free to add any town or city of choice to the headline or search, if you please. I am often invited to be featured on these conglomerate’s sites and listings as The Best Real Estate Agent in Bristow VA, for example, for a staggering fee or referral. Most consumers are unaware of the fees and payments made by agents to have the opportunity to obtain leads from these sources. These fees can be as high as 46% of the real estate commission. While, I truly don’t mind if an agent is willing to pay for leads or referrals, I do have concerns regarding the large tech companies boasting and puffing their partners as The Best Real Estate Agent in Ashburn VA, or The Best Real Estate Agent in Leesburg VA, I think you get the point.
Zillow features agents on their site for a large monthly advertising fee. They help push their Premier Agent partners’ advertisements by promoting testimonials and highlighting agent sales on their site. I used to pay Zillow almost $75,000 per year in advertising fees to have my name and contact information appear on other agent’s listings in the hopes that the consumer would call me for information or a showing. I would then be able to market to these leads and hopefully turn this consumer into a client. Most consumers didn’t mind that I was not the listing agent calling them back on an inquiry; a few did and were angry that I called instead of the actual listing agent. But since I was paying $6000 per month, I needed to follow up on those leads and potential clients! I know some large agents with teams that spend as much as $100,000 per month!!! Yes, that is $1,200,000 per year for these consumer buyer and seller lead opportunities. I stopped the Zillow madness 3 years ago and have found that focusing on my website and past clients have led to much happier and more satisfied clients!! Perhaps this has made me The Best Real Estate Agent in Willowsford! Or perhaps it has made me The Top Real Estate Agent focused on helping her clients without worrying about the cost for leads and referrals from big technology companies. I heard the CEO of Redfin the other day stating that Real Estate Agents make too much money. It makes sense that the CEO of a Real Estate Company that has lost $174.5 Million Dollars per year, was complaining about agent compensation. The costs to bring a home to market, sell a home, cover administrative support, cover broker fees, and licensing is significant. Without the support of Big Technology money, Venture Capital Dollars, and creative Investment Banking, Redfin would be bankrupt, in my opinion.
I personally like to keep my clients happy and am mindful of their expenditures. I am 100% local with all my resources focused on being the Best Real Estate Agent in Northern Virginia. I live here and I work here. I believe in outstanding knowledge, integrity, and service. Call me to discuss your real estate needs!
Northern Virginia REALTOR®
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