Are you a real estate agent looking for ways to increase your lead funnel? Not a fan of cold calling FSBOs or sending out mailers? There are many ways to reach a larger audience online and Zillow Advertising is trying to streamline that process for real estate agents with an all-inclusive service. So, does it really work? Let’s take a look at the Zillow Premier Agent platform, its CRM tools and resources, and how to get the most out of their lead generation model.
Zillow Premier Agent
Zillow is a well-known site for real estate searches with 229 million monthly users and two-thirds of the market share online. Zillow Premier Agent is a paid status on the site, giving subscribed agents advertising priority and exclusivity on certain buyer searches and property listings.
Premier Agents can build their business on reviews through the site and reach higher priority access features with “Best of Zillow” status, achieved through “exceptional performance, customer experience, and operational readiness.” The price of this exclusive membership is determined by the number of impressions you want and the home prices and popularity of the zip codes you want ads to appear in.
Premier Agent Perks
Premier Agents will be the only agent with contact info advertised on their own listing. They will also appear on listings posted by non-Premier Agents, providing an opportunity to connect with more buyer leads. For seller leads, Premier Agents have access to the “Seller Boost” function for an additional fee.
Premier Agents will automatically appear as Featured Agents in the Agent Finder and can purchase advertisements on other agents’ listings in specific zip codes. You’ll pay for a percentage of visibility in buyer searches of that area and build a competitive profile of reviews and sales history to win over clients.
CRM Tools & Resources
The Premier Agent app provides insights from homes that buyers have viewed and allows you to set tasks and reminders for each client. The concierge service includes an auto-responder for quick replies when you are away from your phone. It functions as a basic CRM tool that is useful for keeping all your Zillow leads organized and your pipeline moving.
Zillow provides a “Best of Zillow” report with client feedback and conversion metrics to track business goals. There are scripts, templates, and client handouts that can be edited to your brand. They even have a co-marketing feature where the advertising costs and benefits can be shared with up to five of an agent’s preferred mortgage partners.
What Do the Reviews Say?
Is Zillow Premier Agent worth the cost? The answer is controversial. A quick search of reviews shows many results under 3 stars, citing disappointments such as low-quality leads, required long-term commitments, poor customer service, and accidental inquiries counting towards an agents’ lead quota. Zillow also has a reputation for outdated information, leaving sold properties as active listings well past the closing date.
Some agents make it work with smaller advertising campaigns, targeting one zip code away from higher-priced neighborhoods to spend less while building credibility in the area. Samantha Anthony, former Zillow employee and REALTOR® in Denver, says the key is making sure you have systems in place, so leads don’t fall through the cracks. Follow up and follow up again – because other Premier Agents may have access to the same leads, ready to scoop your client. The biggest argument in favor of Premier Agent is that agents need to go where the clients are, and the clients are searching on Zillow.
So, in answer to our question? Zillow Premier Agent could be a good fit for an agent or team with several of their own listings, to ensure only their contact info is shared with interested buyers. Agents with high conversion rates with phone leads tend to do well, as that’s the most likely way to reach Zillow buyer leads. It can be a catch-22 in that it takes success on the platform to generate more success, by way of raving reviews and a strong Zillow sales history. With any lead service, really think about how much you’re willing to spend on “bad” leads to get the one that closes the deal. Remember, you’re not just buying leads, you’re buying opportunities.