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Buying Buyer Leads Will Soon Be Gone
Rupret Murdoch’s News Corp now owns Move.com, ListHub, and now controls Realtor.com. After spending 1 billion dollars to purchase the different real estate websites, Murdoch most certainly will consider cutting off the listings data and buyer lead information to “Zulia” (Trulia + Zillow). Move.com owns LiftHub, and LiftHub has exclusive relationships with 800 MOS’s across the United States. Those MOS’s provide listing data to LiftHub, and LiftHub sells that data to 150 to 200 different portals that feature the information including Trulia and Zillow.
The lifeblood of Zillow and Trulia is the listing data. If they don’t have that data, the websites have no reason to be there. So, if you were Murdoch, and these two companies, which recently combined, were your greatest competitors, wouldn’t you consider blocking that information from Zulia?
If NewsCorp Stops the Listing Feed to Zulia, Will People Still Visit?
No. The Property Data won’t be there.
If You’re an Agent Dependent on Buyer Leads, What Happens to You?
If you’re buying buyer leads now, going into next year for the next 6 to 12 months, you need to plan ahead here.
Zillow and Trulia are doing a lot of hiring and making attempts to prepare for this change. Murdoch is now working to change the rules. When Murdoch has purchased newspapers in the past, competing newspapers have gone out of businesses.
In the meantime, before Trulia and Zillow have to shut down there could be a short hayaday where the information is available. But, the important thing here is to prepare for the buyer leads to disappear.
Zulia will be trying to build personal relationships with Buyer Lead suppliers. Others have tried to do this in the past, and not had much luck. Even though Zillow has some brilliant people, they’re facing an insurmountable challenge to their business. When they lose this, they’re business will lose its entire value.
The data will be inconsistent because of the shut down of buyer information.
What You Need to Do
If you’ve been seduced into buying leads, you need to realize that that business model is disappearing. The lead costs will become extraordinarily expensive, and the quality will diminish greatly. If you’re in the real estate business, begin to prepare so you can spend your money wisely, and roll with the punches toward financial freedom.
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