At the new Homes.com, we always present the listing agent and only the listing agent on any home for sale on our site. Our philosophy is that the leads on an agent’s listings are theirs and clearly not anyone else’s to pilfer and sell. This is not a new principle for us. CoStar Group has operated dozens of industry leading real estate websites for decades and has always operated on the “Your Listing, Your Lead” philosophy, because it is the right thing to do.
When a potential buyer reaches out to the listing agent on a home for sale it is a potentially valuable lead no agent should be forced to give up. If that lead comes in, the listing agent who knows the house best can answer any questions the buyer has and, if the buyer has a buyer’s agent, the listing agent can then work with the buyer’s agent to sell the house and earn a commission. But the buyer may not be represented yet and then the listing agent can earn a referral fee by referring the buyer to another agent in their brokerage to earn an additional commission. Of course, the agent receiving the referral is likely to return the favor generating future buyer agency commissions for the listing agent.
Many times, the home the agent is listing is not the perfect fit for the buyer, so the listing agent can offer their expertise in the market to the buyer as a buyer’s agent and find a better house for the client and earn another commission. Now while it may not be legal in all states or permitted at all firms, hundreds of thousands of agents are able to do dual agency and that listing lead can significantly increase their commission. The fact is that when portals like NewsCorp owned Realtor.com and Zillow unfairly divert leads from listing agents, they are taking billions of dollars of potential commission dollars from hard working agents.
The importance of portals respecting “Your Listing, Your Lead” goes beyond respecting an agent’s right to earn all the potential commission dollars from their listing leads. Agents put tens of thousands of hours of hard work into building their brands and reputations as real estate experts that deliver the best results for their clients. The most important asset an agent has is their reputation. What is the most important sign home buyers and sellers looking for an agent use as a signal that a real estate agent is a trusted expert? It is the listing sign that shows that someone else has entrusted that agent with selling their home. Like newspaper classifieds listings, signs in front lawns are no longer all that relevant. According to NAR, 100% of buyers are looking for their next home on the Internet so that is where agents need to be most visible.
Unfortunately, portals like Newscorp’s Realtor.com and Zillow have replaced the listing agent’s name with the words “email agent” or “contact agent” benefitting the portal’s agent at the expense of the listing agent. The actual listing agent’s name is no longer front and center making it harder for agents and brokers to build their brands in this environment that is hostile to agents. With “Your Listing, Your Lead“, Homes.com is the first and most agent friendly site that 100% of the time presents the listing agent, their photo, and their brand prominently letting the world know that that agent is a trusted expert. Homes.com has presented agent names to potential buyers and sellers 40 billion times so far this year.
Homes.com is committed to “Your Listing, Your Lead” because it is a more honest and transparent way to do business. Every seller, every buyer, every agent I speak with thinks “Your Listing, Your Lead” creates a better home shopping experience for all.
