What if America’s BIGGEST DATA GIANT were about to release your HIDDEN HOME DATA and I told you it was a GOOD thing? You’d still want the details, and I’ve them. I’m Carole Ellis. This is Episode 37.
Can it really be a GOOD THING that Zillow, the internet’s biggest real estate data and listings marketplace, is planning to open up the “HIDDEN DATA” on your home listings? You bet it can! I’ll tell you all about why this new move that sounds, on the face of it, like an invasion of privacy is actually nothing of the sort and could revolutionize your investing business if leveraged correctly. First, though, I have some other good news: I’ve got a new success story to share with you from a Massachusetts real estate investor who just figured out how to fully fund multi-family rehabs in REALLY cool way (that, by the way, doesn’t involve taking out loans!) Find out how he funded more than $128,000 in repairs on a rental property without private money, bank money, or a trust fund by visiting www.rei.today/FUNDING right now. Let me tell you, it’s good news worth bragging about.
Now, back to Zillow’s expose of your home data. First, the facts please! At present, when a homeowner lists a property on Zillow, they basically have to hope that they’ve created a listing that will attract buyers’ eyes, literally, to their property versus the millions of other listings on the website. Some homeowners attempt this by staging their homes in luxurious ways, investing big bucks in drone flyover videos (look out for the FAA folks!), or doing other unique things to the property in hopes of making their listing go viral. However, until now, the efficacy of these strategies has been difficult to measure, and results, good or bad, have been anecdotal at best. Now, however, Zillow has created a new tool called Owner Dashboard that lets you see just how well your listing methods are working from the second your property hits the Zillow Marketplace.
The Owner Dashboard is exactly what it sounds like. It enables sellers to monitor, in real time, how many people have seen their listing, if buyers are coming back for multiple views, and how their listing is faring against local competition. Perhaps even more exciting, if your listing isn’t doing well against competitors, Zillow will let you know what they have that you don’t: possibly you need more or better photos, a video tour, or additional home facts. The dashboard can also be set to send you daily reports on your listing performance and will integrate with many MLS systems. You can even create listings in advance and then schedule them for release at a later date.
So how can investors start benefitting from Zillow’s Owner Dashboard right away? Easy! For starters, use the analytics tools at your disposal. You’d be amazed at how many people do not evaluate their real estate investing methods and strategies even when the tools to do so are right in front of them. Hey, I understand: it’s often tempting to me to not scroll through daily doses of data too – I think it’s because we all have an inherent distaste for the possibility that the data might indicate something awesome we’re doing actually doesn’t work very well! Nevertheless, suck it up guys! Take a look at your results and determine what works in your listings and what doesn’t.
Second, leverage the internet’s biggest real estate player to send traffic to YOUR business! Zillow wants you to want Zillow, and so they’re constantly creating new tools like the dashboard that have components designed to bring you back time and again. One such feature on the dashboard is a link-creator that makes Zillow-powered links that lead from your Zillow listing to your own website, and they come with a great, professional looking listing graphic as well. Hidden gems like this, when used correctly, can give you credibility and increase traffic on your personal website instead of only fueling the massive drive to Zillow itself.
Finally, you can compare and contrast your strategies from one listing to the next by lining them all up and evaluating results based on differences between the listings. Zillow breaks down key stats for every listing on the dashboard so that you can easily see what is working, and what’s not.
So why is Zillow doing this? Well, as I said, Zillow wants you to want Zillow, and the best way to get you hooked is to provide the best, most comprehensive tools for listing online. What’s Zillow getting? Well, they’re getting YOU, and they’re also getting your listing data, which enables them to compile huge analytics reports, advertise more effectively, and keep growing their user base and data base. So no, the dashboard is not free, but I’d say it’s probably worth the trade since you almost certainly were going to list on Zillow anyway.
If you like the sound of the Zillow Dashboard, you can read the entire original, official press release and training about the subject in the REI Today Vault. Zillow released the materials to us this morning, and I’ll tell you: they’re pretty exciting! And if you’re not yet a member, no worries! text REITODAY no spaces, no periods, to 33444 I’ll provide you with fast, immediate access to all sorts of great trainings, news coverage, interviews, and lot more timely information that will help make your investing safer, faster, and more profitable.
And remember, when you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country. Text REITODAY no spaces no periods to 33444 or head over to www.rei.today/vault right now.
REI Nation, thanks for listening in and always remember this:
Your best investment is your own education.
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.