RISMedia's Real Estate Magazine

MAY 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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RISMedia's REAL ESTATE May 2019 69 The results of our pilot are in, and they're staggering: We achieved a 22-percent increase in Homesnap user sessions—nearly one million total Chicagoland user sessions—in addition to exceptional mobile app engagement. And, through our digital advertising efforts, our rookie cam - paign bested industry benchmarks for click-throughs and impressions. The most important result is the value we delivered to our members through our consumer campaign. In - dustry research tells us that the av- erage cost of advertising on a major real estate advertising portal in Chi - cago is about $300 per lead. By that calculus, MRED was able to deliver to its members an estimated $16 million in client leads. MRED mem - bers didn't have to pay third-party advertisers a dime for those leads. This is a glowing example of how ef - fective the Broker Public Portal can be at driving a cooperative alterna - tive to the advertising portals. BPP WITH HOMESNAP DELIVERS When you go into your preferred app store, all you have to do is read the consumer reviews to see how in love homebuyers and sellers are with the Homesnap app. They're more than just users; they're avid fans. One consumer will rave about the school map feature, while an - other will tout search by commute time. With our promotional activi - ties, we found that consumers are still wowed by the fact that all they have to do is take a photo, and the property's details pop up on their smartphone. Agents describe using the Homesnap Pro app as being addic- tive—and it makes them look more professional. When agents use Ho - mesnap Pro to walk a property with a prospect and show the property line live on their phone's GPS, pros - pects tend to turn into clients. NOW A MILLION AGENTS STRONG In just a couple of years, BPP with Homesnap has become one of the most successful industry-born real estate initiatives. Most importantly, it has become a movement. Call it the Million REALTOR® Movement, as a million REALTORS® now have ac - cess to Homesnap and Homesnap Pro through their MLSs. The reasons are clear: Com - petition is important, and agents shouldn't be forced to shell out hun - dreds or thousands or even tens of thousands of dollars each month to buy client leads. They should have options. MLSs can play a vital role in helping directly connect more con - sumers with agents. MORE DIRECT CONSUMER OUTREACH At MRED, we're at it again, working with all of our local REALTOR® As - sociation partners in Illinois this spring and summer on an expanded consumer engagement campaign to show the incredible power that the BPP with Homesnap offers buyers and sellers. We plan to connect tens of thousands more consumers di - rectly with agents. The goal is to deliver more value to local associations and our agent and broker members, because mak - ing sure consumers have the best, most accurate data is what an MLS does best. RE Rebecca Jensen is president and CEO of Midwest Real Estate Data (MRED), with 45,000 real estate professional members serving Chicagoland and its surrounding counties. She's on the board of the BPP, the Council of MLSs, and is the Board Chair of The MLS Grid. For more information, please visit www.brokerpublicportal.com or www.homesnap.com/bpp. BPP With Homesnap: 16 Million Reasons Why the Million REALTOR ® Movement Is Growing Commentary by Rebecca Jensen L ast summer in Chicagoland, Midwest Real Estate Data (MRED) broke new ground by piloting a first-of-its-kind consumer engagement campaign to promote Homesnap, the consumer face of the Broker Public Portal (BPP). As one of the earliest Broker Public Portal MLS adopters, we launched an aggressive, two-pronged campaign effort to promote Homesnap. Our first focus was driving agent and broker adoption of Homesnap as an MRED member benefit. The second prong was to drive consumers to Homesnap.com and the Homesnap mobile app.

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