If you’re thinking about selling your home, then you know that technology can drastically affect the way your home is marketed, but did you know only 21% of listing agents in Ontario effectively marketed their listings online.
The Canadian Data Distribution Feed
The Canadian Data Distribution Feed (DDF) is a service agents subscribe to through the Canadian Real Estate Association (CREA). The DDF allows agents to share their listings on other real estate companies websites, on other Realtor’s websites, and on the following 15 third-party websites: Homefinder, Point2homes, CommNet, Cottage marketer, Efficiency Properties, Homezilla, Homiscity.com, Housing Block Inc., Listnet.ca, Ovlix, Snap Up Real Estate, The Real Estate Book, TradeHomes, World Properties, and YP.ca.
Why is this relevant?
In 2014, only 21% of homes were effectively marketed online.
The CREA DDF is a free service for real estate agents, however, in 2014 only 100,000 of the 350,000 listings on Realtor.ca were shared through the DDF, and only 75,000 were shared on third party websites. Homefinder alone receives 8 million unique visitors a month, so any property not on that site is not being marketed to its full potential.
I just uploaded my home and I can't find it online
The CREA Data Upload starts at 2am and ends at 9am, and it can take up to 24 hours for information to appear on Realtor.ca, The National Share Pool, Agent Websites, and Third Party Destinations.
Are there any other online marketing tools we should use?
In addition to the CREA DDF, Sotheby’s International Realty Canada allows us to market our listings to over 100 websites worldwide. Sotheby’s affiliates uphold strict listing criteria, so your home is only marketed among homes that also feature high-resolution professional photography and similar characteristics.
is there a way to measure the effectiveness of online marketing?
Sotheby’s International Realty offers their listing agents and clients a portal called a VIP Dashboard. This dashboard uses web analytics to detail the websites that are showing the property, and how many times the home is viewed on each website. The report works in real time, so you can log on at anytime to see how how advertising efforts are effecting your search results. The VIP report also shows all other marketing efforts, like print and open houses. Check out how Sotheby’s sells homes for top dollar here.
It’s important to educate yourself on the listing tools available to realtors, because not all realtors embrace the use of technology when listing a home. It was only a few decades ago that agents used to receive listings in a book, and buyers had to view the listing book in person. Embracing technology will increase the exposure, and demand for your home, and the higher demand the higher the chance of achieving a top sale price.
