The last thing web portals want is for you to have a strong database

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The function of web portals, such as Domain and REA, is to place value on the quality of leads they send to real estate agents. It’s called lead generation.

Just to be clear, lead generation is a commodity created by web portals around the world so that they can charge real estate agents money. The better the quality and quantity of the leads, the more money they will charge you. Their ultimate goal is to have all or as many leads as possible and repeatedly farm them out to agents on a pay-as-you-go basis.

Those leads are worth profoundly less if they are already in your database before being received from the portal. And they are worth nothing to the portals if you are already in contact with that customer in regards to that listing.

The major web portals are having a party at the moment because they hold the buyer’s audience captive due to the fact that they have aggregated listings. A huge disruption is set to occur as the nature of the internet will change in the not so distant future however, until such time, agents must focus on collecting valuable buyer data and staying connected.  

Using an App provided by a web portal to manage your buyers will give your buyer data to that web portal. Never give your buyer data to a web portal!

If you do this, don’t complain about their rising fees or when vendors negotiate their commission against your favour because you don’t have a unique database and therefore you don’t have a unique selling proposition. As a matter of fact, why list with you in the first place…. Better service?

Do you really think that better service helps then get a higher sale price?

Be vigilant, maintain your buyer data and stay connected with your customers. It’s up to you to flip the script.

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