New Internet Tracking Reports from RESO
When a real estate agent posts a listing for sale across the Internet’s vast range of MLS, agent and consumer-direct tools, how do we measure the performance of that listing online?
Agents want to be able to inform their consumers about their overall listing exposure to potential buyers and compare the effectiveness of their advertising platforms.
RESO’s new Internet Tracking Summary Fields provides that opportunity. By displaying the engagement statistics about a listing’s performance on each Internet outlet that the listing is advertised on, agents and consumers can have candid conversations about where their listing promotion is most effective in reaching buyers.
Internet Tracking Summary Fields
Here is a quick peek of the Summary Fields in action:
Listings are advertised on portals like Zillow, Realtor.com and Homes.com. They get marketed on MLS portals and brokerage websites. They are shared with clients on MLS software platforms. Having a standard for displaying buyer engagement statistics allows for an apples-to-apples comparison in a single report.
An equal, standard measure across technology platforms can show real estate listing media impressions, views and user activities like favorites in one reporting view.
The Internet Tracking Workgroup at RESO
The RESO Internet Tracking Workgroup was chartered in 2015. Its initial standard implementation was a way for organizations to track Internet consumer interactions with individual real estate listings.
This standard allowed for the underlying, detailed tracking activity that can support the Summary Fields today. Organizations can use these underlying fields to fuel their summary field reporting, but any internal tracking data can also be formatted to fit the Summary Fields reporting model.
Taking each individual technology organization’s internal tracking stats and aggregating them into the RESO Internet Tracking Summary Fields, an organization’s consumer engagement data becomes formatted to be included in a Summary Fields comparison report.
ROI Analysis for Brokers, Agents and MLSs
By comparing the sum of all consumer activity related to a real estate listing in each advertising platform, professionals and consumers gain insights into how their online platforms are serving their needs in a new manner. This business intelligence will allow real estate agents and their clients to make better decisions about advertising choices. It also helps MLSs and brokers make more outcome-based decisions on their technology partners and marketing spending.
The RESO Internet Tracking Summary Fields are a bridge from isolated, proprietary data to holistic insights about how real estate internet marketing works. Talk to your technology vendors today, and ask them when they’re going to make this advancement in data reporting available to you.
Learn more in RESO’s Internet Tracking Summary Fields white paper.