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Sign into your accountThe New Frontier of Internet Marketing, Part 2
July 14 2013
This is the second half of a new whitepaper from ListHub. View Part One here.
The Current State of Affairs
The quality of U.S. listing information on international websites around the world today is abysmal. We conducted a study in which we evaluated listing data accuracy on two major publishers in the UK that display U.S. listings, RightMove and Zoopla.
Here's what we did: we randomly selected 200 listings from the UK websites and checked each one for accuracy by comparing the listing information on the UK site to the listing information on realtor.com®. We chose sites in the UK for one simple reason: they are in English, and thus, easier for us to evaluate without translation. We checked five core fields for each listing: status, price, address, beds, and baths. If all five factors were correct for the listing, it was deemed "accurate."
And here is what we found:
- RightMove: 63% of listings were incorrect on at least one core field.
- Zoopla: 86% of the listings were incorrect on at least one core field.
- Overall: 75% of the listings were inaccurate, only 25% accuracy observed on international publishers.
75% OF THE LISTINGS OBSERVED ON INTERNATIONAL PUBLISHERS ARE INACCURATE; HALF OF THOSE WERE NOT EVEN ON MARKET
32% of all the listings we looked up (nearly half of the total inaccurate listings) were not even on the market, with "last sold" dates as long ago as 2007, 2005 and 1992!
Clearly, there are severe problems with current methodology used by today's brokers and agents to advertise their listings on international publishers. The question is, what can we do about it?