You know what they say, Premier Agent, premier leads... right?
There is no debate that Zillow is constantly shaking up the real estate industry. It seems as though every time they announce a new feature everyone collectively panics. If you aren't a doomsday activists or anti-Zillow leader, then you may just be part of the group of agents that are angry because their Zillow lead quality is dropping as the premier agent spots become more competitive.
If you ask anyone that is a premier agent on Zillow they will likely say that they pay $1,200+ to be a premier agent on Zillow. In some markets that figure would land you the top spot and in others that may not even land you the 3rd spot. Luckily, if you have $1,200 to invest in advertising then you should be happy to know that there are other places to get leads online for that money. Today, we will compare Facebook advertisements and Zillow's Premier Agent program.
Today, we're going to examine another option: Facebook Advertisements.
Ease of Use -
Full transparency, Zillow has the easier advertising option for real estate agents. Just pay your monthly fee and wait for leads to be emailed to you. Facebook has a huge learning curve and requires knowledge of marketing and data analytics.
Data Control -
Now, this is an interesting topic to talk about because it is heavily based on personal preference. Some agents will pick ease of use every time while others want control over their systems.
In this category, Facebook takes the W. Facebook will allow you to target your audience based off of 4 main categories:
- Custom Audiences
I include custom audiences in this list because it is one of the most powerful features of Facebook advertising. When you advertise you can actually create your own sales funnel to gauge the interest of your targeted audience. Once you identify the most engaged audience you can then retarget them with ads to push them further down your sales funnel and ultimately capture their information. Of course, this works well with international/out-of-state buyers.
Quality of Leads -
This is by far the toughest point to analyze. There are countless reports of disgruntled agents who have paid astronomical prices on Zillow for months just to find that their lead quality has dropped. Most of the time it is due to competition rising on the platform and that agent no longer holds the spot they paid for. Other times, agents are very satisfied with leads coming through Zillow.
It can also be challenging to find qualified leads on Facebook. Without the right knowledge of building campaigns, developing landing pages, and creating enticing offers you could end up with zero leads. Facebook requires more hands-on attention but this can also be a huge benefit. When you get into the routine of running advertisements and find out what works for your market then you will have a well-oiled machine for positive ROI.
Winner: Facebook & Zillow (Tie)
If you are a hands-on agent that understands technology and learns quickly, you may favor Facebook. If you are not tech savvy then try to hire someone to run Facebook advertisements for you or invest into the Zillow Premier Agent program. Like everything else, it comes down to your personal preference and finding what works for you.