RealTown's RealTalk

Hi Kate:

I can't possibly understand why REALTORS would post listing on Craigslist. Oh, sure, here come the usual answers: exposure, getting leads, blah, blah, blah. But has anyone considered: 

1.      The sellers may be really upset to see you promoting their homes on such a LOW QUALITY site surrounded by so much junk (criminal or not). I, for one, am not going to pay a professional to post my home's photos and details on a bulletin board that's essentially a junk-pile where the average presentation is a few sentences of text and a photo.  UGLY. I paid for your COMPANY BRAND and professional marketing. I didn't expect you'd spread my home's info around on places like Craigslist  next to refrigerators for sale and personals. YUK!

2.      Why would you want to promote traffic to CRAIGSLIST rather than your website? We're just doing it again, REALTORS  jumping on any site that comes along to promise a quick-cheap-buyer-lead. The same old argument: The traffic is already going there so why not just be there with it. If one of us jumps off the bridge, well, you get the idea. So, where else do you want to put your listings? If all you want is cheap traffic why not just go for the really skeeeezy sites? I'm not saying that CraigsList is skeezy but just that, where does it end? Whatever happened to all the upset REALTORS who were freaking out that REALTOR.COM or other sites were somehow taking their listings and using them  now we're just going to throw our listing data anywhere?

3.      Ask yourself why you don't see many other professional organizations advertising on Craigslist? Do you go there to purchase a Mercedes? Or book a night at the Ritz Carlton? In my mind, your advertising is a lot about the company you keep and in the seller's minds, they'd rather see you in the Robb Report than CraigsList.

4.      From what I can see from most of the inventory on Craigslist, it's plain text, a few photos and mostly plain and boring. No videos embedded. Minimal data. Why don't we just take out the Crayons and start mailing listing sheets on construction-paper to the local neighborhood again.

5.      I can't believe there's enough traffic there to justify the leads from it. Sure, here come all the success stories from a few of us who got leads from it  but if it were really a site with potential REAL ESTATE convertible traffic, it would be bought by someone now. Even Google can't make money with YouTube. So we're going to really get deals (except for the exceptions) from Craigslist???

Ok, you get the point. I'm just not convinced that advertising anywhere you can just because it's free is worth it. I even think it would turn off some sellers, and even some buyers (or perhaps let them think that listings appearing on bargain advertising sites are bargain listings). And for those REALTORS working for companies spending MILLIONS trying to create a brand in the mind of consumers, I can't believe this is consistent with their image/quality Identity Standards practices. Probably most managers don't know it's happening; and if the marketing departments found out, would they be happy?

Now, I'll sit back and brace for impact. GRIN.

-        Matthew

Matthew J. Ferrara, CEO

Matthew Ferrara & Company

Modernizing the Business of Real Estate Brokerage
(tel.)  978.291.1250  - (web)  Matthew Ferrara & Company -- (blog) http://blog.matthewferrara.com

What’s funny is you’ve described the conundrum with Craigslist.  Despite what we think is the world’s desire for bigger, better, snazzier, prettier, high tech-ier websites – Craigslist is a successful oxymoron.  It’s wildly successful and continues to be more and more successful all in the shape of a basic structure text based website.

It’s like Costco – basic structure – with lots of items, from lettuce to rolex.

BMW’s, Jaguar’s, Chevy, Ford . . .

http://losangeles.craigslist.org/car/

Entry level to estate homes . . .

http://losangeles.craigslist.org/rfs/

It’s the best place to post a job – from waitressing to CEO’s . . .

http://losangeles.craigslist.org/jjj/

Professionals posting their services . . .

http://losangeles.craigslist.org/bbb/

The thing is – it really appears you don’t know a whole lot about Craigslist, nor have you attempted to do any research.  You’ve formed an opinion based upon your assumptions, the majority of which are flat out wrong. 

FWIW, our area was only recently added to Craigslist.  Our owners/sellers (the majority of whom are 7 fig net worth individuals) WANT us to post their properties on craigslist.  It’s almost required by most of these people – because they live in or near major cities that CL has been in for several years.  They get it.  They understand it.  They know their habits and buyers habits.  And yes, we even put our high end homes on CL and surprise of all surprises, sold a 7fig property as a direct result of CL.

We post on CL because real estate buyers that buy and rent utilize it and we’ve documented (and continue to document) our ROI (yes it’s free, but it still takes time) and it’s AWESOME.

As a broker my job is simple, sell my client’s property at an acceptable price to him/her.

Craig’s List, as remedial and prehistoric as some think, works and works well.

My business is exclusively commercial brokerage and I get remarkable leads and have closed high-end deals with highly regarded Buyers.

Regards,

Richard Edwards, CCIM

Edwards Realty Services

Richard@EdwardsRealtyServices.com

Matthew in part said: 

“Ok, you get the point. I'm just not convinced that advertising anywhere you can just because it's free is worth it. I even think it would turn off some sellers, and even some buyers (or perhaps let them think that listings appearing on bargain advertising sites are bargain listings). And for those REALTORS working for companies spending MILLIONS trying to create a brand in the mind of consumers, I can't believe this is consistent with their image/quality Identity Standards practices. Probably most managers don't know it's happening; and if the marketing departments found out, would they be happy?”

Now, I'll sit back and brace for impact. GRIN.

Could this be “sour grapes” because By Referral Only members are using a form of this for advertising for Sellers who are serious about selling, who have given permission to having a story written to go with the information about their homes, and are allowing that story to be placed on Craigs List along with the 800 lead collection #?  I’d be interested in seeing what new and innovative methods you have for reaching that elusive Buyer in the “Buyer’s Market” that is not producing Buyers for those Sellers who really need to sell because of relocation, etc. Not that I’ve used Craig’s List but sometimes the glitz is not the only way to go. My mother told me once there is more than one way to skin a rabbit.

Louise Speck, ABR, CRS, e-PRO
Twin Oaks Realty, Inc.  
mailto:louise@MinneapolisHomesOnline.com

Matthew Ferrara writes in part:

…I'm just not convinced that advertising anywhere you can-- just because it's free-- is worth it. I even think it would turn off some sellers, and even some buyers ….

…for those REALTORS working for companies spending MILLIONS trying to create a brand in the mind of consumers, I can't believe this is consistent with their image/quality. standards….

Probably most managers don't know it's happening; and if the marketing departments found out, would they be happy?

Now, I'll sit back and brace for impact. GRIN.

Mark Jay comments:

I agree completely!  Craig’s list is just NOT an appropriate venue for Broker listed property or any other serious or professional marketer.  Any domain that carries images of genitalia—as Craigslist.com does-- is not a place YOU or your clients should be. 

For the most part Craig’s List is a freak show….

Mark Jay, e-Pro

REALTOR and Mortgage Consultant

414-771-7713  Voice

262-853-6001 Voice

Southeast Wisconsin MLS Region

Mark@MarkJayRealty.com