RealTown's RealTalk

iHOUSE Web Solutions has released a white paper with definitive data on the relationship between registration forms for viewing MLS information and lead generation. The question of whether to require registration in order to view MLS listings or to allow free access to website visitors has long been an issue for agents wanting to balance lead generation and a friendly user experience.

By analyzing registration data from over 5,000 IDXPro accounts during the third quarter of 2008, iHOUSE Web Solutions has provided a conclusive answer to this question, as well as information that could lead to 14x more IDX website leads.

To read the full White Paper on the effect of registration forms on IDX lead generation, click here.

 

This is not a cut and dry issue.  It has been debated hotly for many years.  It all depends on the agent and their market.

I have worked with clients who felt that this was a violation of the visitors privacy to require someone to register to see the MLS.   So no matter what the statistics say, if you feel that your website is detrimental by asking for registration, then you should not do so.  It will resonate with the guest when you speak with them, subtle ways will creep into your conversation when you pick up the phone to see if they need help.

Others swear by registration and are cold calling stud muffins when it comes to picking up the phone.  I would say your retired Marine is the perfect example.  Desperation doesn't work either, so be careful before you call.  Be sure that you call as quickly as possible and that there are no screaming kids in the background.  I know this is common sense, but you can blow the deal if you are not composed when calling someone.  If you are going for the registration process, then commit to being bold, and straight to the point.  I don't mean rough, and without empathy.  Alot of people appreciate a straightforward approach, not everyone has the gift when cold calling someone.

Here is the downside of requiring registration.  If you are in a luxury market, the Bill Gates or Donald Trump's of the world will not even waste their time on a site that requires registration.

If you are not in the high-end market, then stand behind your belief that registration is good for your visitors because you can give them prompt information via email until they are ready to buy.  Gathering contact information is very important and do not spam them with endless drip campaigns that every agent on the block is now sending them.  You are probably not the only website that they registered on, and we are all saturated with emails on a daily basis.

If they do opt to get information from their registration on your site by giving you a correct email, then be sure to send them interesting information.  Do not send doom and gloom market statistics so that they get a grip.  But perhaps compiling a weekly, bi-weekly or even monthly report that shows sales in the particular neighborhoods they are interested in.

This is a big subject and every agent has to feel comfortable with having someone register on their site or not.  My experience has been the better the site, the less you have to lock them into signing up.   They will contact you if they see what they need.

Sincerely,

Cherie Young
Online Marketing Strategies
www.CherieYoung.com
760.782.0103

We agree that it is not a cut and dry issue. There are many factors to consider when deciding whether to require registration on an MLS search page. However, as discussed in our White Paper, our research has shown that a registration form significantly increases the number of leads received without a drop in lead quality. This data does not analyze what area of the country someone is in, their target market, website quality, or any other detail of their business. While it may make sense for some REALTORS® to allow open access to their MLS, overall, we have found that for most people and most websites, lead generation is significantly higher with required registration.

Thanks for your response Cherie!

I have always required a guest book log in to see my IDX. It gives me an opportunity to start a dialog with possible clients. Sure you get a lot of Mickey Mouse names but most people fill it in correctly. When I disabled the guest book, I found my hits were staying the same but the leads drop off to nothing. The argument to not have a guest book is that people will not bother, then I suppose the are just lookers anyway

Lou Frey

Qualifying Broker

Santa Fe Land and Homes

505-670-5001

lafrey@msn.com

www.sfhomesandland.com

www.casaofsantafe.com

In response to the iHouse Registration White Page:

I use iHouse on my personal site, www.NestingInNashville.com. A couple of months ago they automatically changed my settings to require registration to see specific info (additional photos, stats, etc) on listings - something I hadn't been doing previously. At first I resisted the idea, finding it restrictive and just uncool. But they insisted that it was the best way so I decided to go with it for a while.

Let me tell ya, I'm now a believer!

My leads a have more than doubled since the registration change. I used to get maybe 10-15 registrations a month, now it's more than 40! I don't make each field mandatory, and many folks only answer the questions partially, but I do get valid e-mails at least! I send out a "first contact" e-mail, and add them to my monthly e-newsletter database.

Something else I've found interesting, is that more than half of my registrants says they don't plan to purchase for "more than a year."

While I can't specifically attribute any current sales to the registrations change, I feel confident that when the market rebounds, I'll have more business than I know what to do with! Now I'm just waiting for the media to either declare it's "bottom" or "over."

I also want to mention that I put a lot of energy into my site AND I have a niche. Urban condo buyers (and two resellers) accounted for 78% of my 4.3 million in business this year and most came initially from the Internet.

One of the never ending debates no matter what data is presented!

We have tried it all sorts of different ways. In our market, we find a "teaser" generates the most leads. You can view basic info, but sign-in for address and details.  That way they get an initial look at the site to see what's on it. If you have a site with value to the visitor and/or properties sorted by the way they want to view them, they will sign-in. Our site competes with many that do not require sign-in, yet we seem to do far more business. I was not a believer of requiring sign-in until I tested it and found out the results.. .sign-in makes a huge difference for us as far as generating leads and closed sales. 

I'd like to know the stats as far as number of unique visitors vs number that actually sign-in. I think 5% is realistic and achievable.  I have heard 8%-10% for a good site is realistic.
However,  is 1%, 3%, 5% a good ratio, 10% or what? So, for example, if 300 unique visitors a day, would 15 sign-in's be a good number or 3?
Does it vary by size of market, by area of country, by price range, retirement areas, second home communities, etc.?

I always liked the idea of letting website visitors search the listing and let them see the list of results, but then when they click on a listing for the detail page, ask them for their contact info then.

After they submit some info, send them to the listing details.

As everyone states, this is one of those things that preference seems to control as much as hard data. The iHouse paper uses a teaser approach, and that is a pretty good meld of preference and mandate.

We feel that Homepage registration should be optional, that viewing your listings should be optional, but that viewing MLS listings should be mandatory. We think MLS Listings access is the ONLY place on your site that should be mandatory.

Our best clients experience 7.5% or higher conversion rates; that is, for every hundred unique visitors, they receive at least 7.5 registrations, using this approach. We are trying mightily to get all our clients several hundred uniques monthly, but in this market, overall uniques are down about 50%. Those who have been with us a while, however, continue to have over 750 uniques monthly, and even a 3% conversion rate give lots of good quality leads to work.

I only mention this to detail what our research tells us: that a mixed approach seems to work best. Hard lead capture on its own is not recommended, except on MLS sign in.