What Is Zillow & How Does It Work?
Zillow’s appeal is rooted in the fact that real estate is an extremely emotional experience. While buyers and sellers often think in terms of financial factors, the emotional aspects always weigh in on the side of the seller or buyer.
In many cases, people invest tens or even hundreds of thousands of dollars in a house and then want to sell it as quickly as possible, without taking into account the emotional impact of the sale or knowing what the house is truly worth. The problem is that the emotional and financial factors that drive a home sale can be very difficult to predict, with no clear answers at all. Zillow aims to change that with the help of real estate professionals who submit data about the homes for sale, and an online platform that allows people to search for and visualize homes as they would on the cover of a magazine.
How Much Does It Cost to Advertise on Zillow?
It’s a no-brainer that you can’t buy advertising space on Zillow or any other real estate website without paying for it. But how much can you expect to pay for a 1-day banner advertisement on Zillow? Obviously, the price will be influenced by the cryptocurrency you pay in.
The price of advertising on Zillow is usually measured in six ways:
Banner Ad Size & Dimensions
This is probably the most closely related to the size of the ad space. This ad size can be long-term or short-term. Most of the top-level companies and real estate agents prefer long-term banners for their site. It takes more time for the ad to get approved. However, the price of the long-term banner might be slightly higher than short-term banners.
How Do You Measure Zillow Ad Size?
Determining how big your banner should be (or how big your ad should be) is based on how much traffic you expect to see your ad and the average page views on your site.
Depends on the size of the ad and the format you choose (e.g. color vs. black & white) you’ll have to pay more for your banner graphics.
How to Successfully Advertise a Listing on Zillow in 10 Steps
Zillow’s search engine algorithm continues to evolve. In fact, Zillow’s algorithm could eventually become the biggest challenger to Google’s. In order to successfully market a home online in 2021, you’ll need to start following the evolving trends of search engine algorithms. In this post we discuss 10 ways to advertise your home online in 2021.
Make Sure Your Home Is Up to Code
This is the easiest way to make sure your home shows up in search results. After all, people searching for homes need to be sure they are moving to a safe, healthy, and relatively bug-free home. Make sure your home’s information matches the most updated listings in Zillow’s database. People will need to be sure that there are no deal breakers in the home’s information when they come to search for a home. Be sure that the home’s square footage and number of rooms match the proper documentation. This is a great way to get your home off to a good start and will help you show up in search results quickly.
Place Zillow Listings on Your Primary Social Media Channels
Sign Up for Zillow Premier Agent & Advertising
Create an Agent Profile
The first kind of listing is called an agent profile. They are private listings that attract attention only to agents who have built a solid reputation in your community.
Your real estate agency can create an agent profile for you to make it easy for your clients to find your expertise. But you can also create one for yourself to demonstrate your expertise.
Your agent profile includes information such as your name and logo, your expertise, your capabilities, and your services. Other information you can include on your agent profile include your website URL, your office location, your office phone number, and your office hours.
Of course, you need to make it easy for people to find this information as well. The easiest way to be found as an agent is to add an agent profile to your Zillow agent listing. Additionally, your agent profile can link to your website. Once your agent profile is live, simply follow the prompts on the Zillow platform to tell Zillow to include your agent profile as part of your real estate listing page.
For instance, look at this agent profile for a listing in Albuquerque, New Mexico. This is the agent profile and neighborhood guide for this listing. It provides a wealth of useful information to potential buyers, including photos of the property, a description of the home, the agent’s area of expertise, and the home’s history.
Claim Your Listings
There’s more to home-selling than showing off your design scheme, walk-in closet, and finished basement. You also need to prove that your property will sell quickly and attract a crowd. Zillow’s new home-selling guidelines often demand more – inventory data, detailed social media marketing and more – than a seller can always provide.
What if you weren’t limited by what you could produce in the way of listings? What if you could immediately set up a three-month listing on Zillow, and then take that listing down, and then set it up again, at midnight and at 6 a.m.?
Would you consider letting Zillow take over the task of selling your home while you hold a breath until it went up for sale?
Advertise your house for free on Zillow to get leads, and then use those leads, and Zillow’s tools, to generate traffic, promote the listing, and get your property ready for sale.
And no, you don’t have to ask your friends and family to list your house for you.
Zillow does it for you, for free.
Ensure All Listing Information Is Accurate
Zillow has a 70% accuracy rate when it comes to listing and selling your home. With a lack of local real estate knowledge, some homeowners have every right to call a home a great rental investment when in fact their home may be an eyesore instead. According to Inman, the real estate website, homeowners have a 27% chance of listing their home with both an accurate and inaccurate price. This is no surprise when it comes to real estate, as the history of real estate has a long-standing tradition of asymmetric information and the sellers guessed what the house was worth while the buyers guessed what the house was selling for.
All of this has shifted the balance of power between the buyer and the seller. We can now mark 0% and 100% off from the listing price, while our clients have to guess what our worst and best case scenarios are for the business, what the service and maintenance costs are going to be, and what the potential savings are going to be. If we guess wrong on the service and maintenance, the buyer’s agent will beat us up on the offer. If the savings are better than we think, the buyers will come back with a higher counteroffer. Overtime, the relationship between the two parties has changed and is called asymmetric information.
Fill Out the Home Description & Features Sections
Advertising on Zillow requires you to fill out several sections on your ad to help Zillow recommend the home to your target audience. This is the first step to advertising on Zillow and the easiest way to get it right the first time.
If you’re new to writing ads, here’s what you’ll need to do:
Download the Zillow Ad Builder
The Zillow Ad Builder helps you create a checklist for everything that you’ll need to complete to start advertising. The Ad Builder tool helps you build an ad by outlining all of the most important sections, with the ability to link in relevant information directly from the ads you’ve already created on Zillow. The Zillow Ad Builder not only provides you with all of the information you’ll need for advertising, it keeps track of what you’ve already completed so it can make sure you’re not missing out on important information.
Adjust the Asking Price to Increase Zillow Views
Zillow now allows you to set "Send Offers" (you can set any value you want to send them) to boost Zillow views, and increase your property’s view count. The best part is you don’t even have to leave your home, just set the price in the Asking range, set up the ad with the other information and you’re all set.
Add Compelling Professional Photography
People always want to buy from people they know and trust. So creating a professional catalog of your home’s photography is an important part of selling real estate.
Use your aerial drone for amazing unique photos of your home or contact your local aerial drone company to do this for you. They will use the drone, the professional camera equipment, and the experience to create eye-catching, professional, and compelling photography to put on your real estate listing… which will draw people to your listing and convince them to call you and schedule a showing!
There are tons of aerial drone photography sites that you can hire so hire the company that will take the best photos for you and your property.
Put your real estate agent’s contact information in your listing on Zillow… and give them your cell phone number.
When anyone calls who wants to see your home, give them your cell phone number and your real estate agent will take their information. Sales of real estate are built on this way.
Generate Bids from Multiple Real Estate Agents
One of the problems with working with a real estate agent is that only one agent can get paid if a sale is made. Many real estate agents are more interested in helping you sell your property than in getting paid if you sell it yourself.
Create a Video Walk-through
A picture is worth a thousand words but can show your home in a great light? Why not use video to add a touch of realism to the image. The idea of a video walk-through was born out of necessity for house shoppers who might desire a more in-depth tour of a home.
Perhaps you’re selling your home and want to show your best side, or your best areas. If you have a big project on your hands or are having trouble finding time to keep up with it, consider taking this 360-degree approach. People will fall in love with your home, no matter where they start.
Since Zillow’s early days of place-shopping, loyal users have been searching for the best deals and are hungry for house shopping information, plus they want to cover the cost of the mortgage. You will continue to do well for your advertising dollars if you appeal to the user’s desire for content and convenience. Help them navigate the overwhelming world of data and make it easy to find what they are searching for.
There are some brands that can pull off video, but it begs the question, can you? All you need is a set of good online tools that help you create your own videos. You will need a little investment of your own time and resources to make a professional video.
Leverage Open Houses for More Zillow Views
Your home is on the market and you’re showing it to potential buyers. So why aren’t they coming? Probably because they can’t find you. No, the house isn’t in the wrong zip code or the street sign’s misspelled. There’s another potential buyer’s house on the market too. You can’t compare apples to apples, but that doesn’t mean you can’t advertise on Zillow to get them to see your home.
If you have a house under contract and you’re showing it to buyers, don’t forget about the power of Open Houses. Since Zillow is able to track their visitors’ whereabouts, using Open Houses to advertise on Zillow in 2021 can be an effective way to get your house in the hands of people who are driving by and not taking the time to look at it. Simply list your home on Zillow and use the Open House feature to advertise your open house to potential buyers.
Follow Up With Leads Quickly
Make sure to follow up with leads as quickly as possible. The more quickly you follow up with leads, the higher your conversion rate will be. Leads that do not convert are not only a very large expense, they also give you the wrong impression about your company. In your follow up attempts, start with a call, though only if necessary. Be careful not to follow up with a call if you’ve already sent a polite email.
Pros & Cons of Zillow Premier Agent Advertising
Just like every other technology, advertisements on Zillow have evolved to meet both the same needs in the real estate industry and the needs of Zillow as a company. In fact, now that they are the dominant company in the industry, they have the power to either disrupt or stay in the same position for a long time.
On the one hand, they have had to reach out to an ever-expanding group of agents who all want the opportunity to advertise on their site. According to their site, in 2016, more than 11,000 agents used their service to sell their homes.
On the other hand, they have to compete with Google’s AdWords, which is more versatile and profound in its advertising power. They also have to compete with Facebook and Linkedin, which offer similar features to their ad space.
Therefore, they need to market to all these agents and not only convince them to advertise on their site but also get them to actually pay to advertise.
Determining whether or not to advertise on Zillow is a complicated process but a potential win-win one. They will determine your costs, set a baseline, create a menu of options, and alert you to which options provide more exposure in your area based on their KPI and analytics.
This information will help you decide if your time and money are best spent on ads on Zillow or on an alternative media.
Frequently Asked Questions (FAQs)
Do you have to advertise on Zillow to claim a listing?
Does it cost extra for the Zillow CRM?
If I add that to my advertising account, will I get the benefit for that cost?
Most people aren’t aware that any ad you buy through Zillow will come with a CRM subscription if you have one in your advertising account.
If you start buying that ad without the CRM subscription, you’ll have to pay for the CRM. This is an optional add-on. But if you start buying that ad with the CRM subscription, you’ll get the benefit of those CRM solutions for free!
What is the cost for the Zillow website?
The cost of advertising on Zillow website varies depending on regional economics and the number of people visiting its website. In the starting phase of this talk, the bell is not a good idea. But as time goes on and the site grow, this approach is a good one. Its easy and clear to remember. Blue
The site looks clean and neat.
Good grammar is used.
The cost of the advertising is not high.
The site looks like it is newer.
The topic is not forgotten.Orange
Although the site is new, it has a good grip.
The site is easy to understand.
The site makes it is easy for users to visit it and look for information.
The Site Has a Good Grasp on the Subject Matter
The site appears to be a non-judgmental source of information.
He topic is taken lightly. This makes it okay to mention it.
The site achieves the goal of mentioning a topic.
The site is a good place to start.
It is easy to remember this ad.
It is easy to visit the website.
The website is new and presents some fresh ideas about a topic.
It is easy to remember the ad and how to access the website.
It is easy to work with the website.
Zillow’s IPO in 2011 created a new world of real estate competition, so you need to understand the product, how to use it, and how to position yourself to get ahead. That, to me, is the overarching takeaway.
The future of advertising on Zillow is bright. Zillow’s audience is fed up with spammy ads and will quickly abandon galleries that become overcrowded and unfriendly to both visitors and potential home sellers. As a result, Zillow will provide more opportunities for advertisers to stand out and be present during the highest traffic times. Earned media opportunities are infinite on Zillow and are an avenue to put your brand in front of a highly targeted audience.