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Why Listing Portal Dominance is the Best Thing to Happen to Real Estate

December 16 2014

home cell laptop2014 has proven to be the year of the race to housing portal dominance. The real estate industry has seen unprecedented mergers and acquisitions among key players Zillow, Trulia, and Realtor.com. This activity has struck a chord with a plethora of agents, for better or for worse. However, one thing is certain--the change is forcing agents to prove their relevance in an age where housing information is literally littered all over the place. Real estate notoriously lags behind in technology adoption compared to other industries, but the fear of going the way of travel agents is empowering agents to reverse this trend.

Zillow and Trulia alone control about 70 percent of online real estate traffic, and I am not surprised at all. These companies have ruthlessly innovated on behalf of the consumer as major real estate players stood idle. This massive land grab has finally caught the attention of the industry and literally forced the industry to start building and creating the demand for innovative products. Over the next couple years, agents will have to adopt new tech to simply survive.

Starting in 2015, Millennials will represent the largest block of homebuyers. To no surprise, this demographic is also the largest users of smartphones. If these macro trends are any kind of indication for where real estate technology is headed, here are three tips to help empower agents in a world where portals dominate search and mobile is ubiquitous:

1. Leverage mobile technology to increase client retention

There is no better platform than mobile to stay top of mind with clients. Your brand is literally in their pocket all the time. This represents an opportunity to cut costs and increase effectiveness of their marketing dollars. Whether it be your own app or popular blog, creating a user experience worth experiencing is a tremendously powerful way to create "stickiness" with your clients.

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