Having been out of the prop tech game for a couple of years I was asked to rejoin ListingLogic [ a company I founded ] at the beginning of this year. With a fantastic team and a platform that continues to innovate ahead of the market I agreed...
Over the last couple of year there have been huge shifts in the market and across the prop tech sector. When I first started ListingLogic I was literally going agent by agent convincing people that social media was a legitimate channel to promote listings and find new homeowners. That Facebook could be a change maker when it came to the industry's complex relationship with the portals. Today I think we can all agree social media is a significant value add channel when handled the right way.
What is new however, is that portals now want to own your social media budget. It's become a strategic requirement to bolster their data advantage - which drives their pricing strategy. Over the last 12 months all regional portals have launched social media products aimed at redirecting the traffic and the data back to the portal [BAU]. Domain's acquisition of one of our old competitors is one end of the spectrum, when it comes to understanding how much value the portals now see in the social media opportunity. Thankfully, the majority of the sector understand all this and are building vendor/agent services that maximise their digital advantage as the first publisher of new listing content.
I founded ListingLogic to build solutions that benefit the agent, homeowner and agency. This will remain our reason for being. Don't underestimate the value your listings' data generates in social. Talk to us about how you, as the first publisher of your listing content can retain and maximise this value.
Neil
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