The big third-party listing portals seem to get the bulk of the attention in the industry, but listing websites are everywhere. Most of them are agent and broker Internet data exchange (IDX) websites, powered by local multiple listing services.
Minneapolis-based WolfNet has become the first national IDX website provider to integrate a free listing monitoring tool that will help its more than 80,000 agent and broker customers measure just how well those IDX sites are working for them.
The tool, ListTrac, measures how many views and leads a listing receives from MLS public-facing sites and IDX websites and the average time someone spends looking at a listing. So far, some 300,000 agents are tracking 500,000 listings using ListTrac as the company continues to expand, the company said.
ListTrac fills a very big void by allowing agents to provide sellers with a single report showing what is and is not working to sell their home, WolfNet CEO Joel MacIntosh told Inman.
“If you had 2,500 views on the property but no leads, maybe something’s not right,” he said.
That shows the seller that maybe the price needs to come down or the photos need to be changed, he added.
The performance metrics will also show agents just how effective IDX and MLS sites really are at providing not just leads, but good leads, MacIntosh said.
“I think some eyebrows are going to raise. I think people will be surprised at how much traffic and how many leads the IDX sites really generate,” he said.
ListTrac will be incorporated into a brand-new property search platform from WolfNet, set to be completed nationwide by the end of June. The platform will eventually be available to all 80,000-plus of the company’s agent and broker customers who belong to more than 500 MLSs. Collectively, those 500-plus MLSs represent 95 percent of agents nationwide, MacIntosh said.
The ListTrac integration will include single sign-on, making it “fast and easy for WolfNet customers to access their ListTrac dashboards from the WolfNet lead management console,” MacIntosh said.
WolfNet’s new fully responsive property search platform is built on top of the company’s new IDX and VOW (virtual office website) API platform. The API offers more than 70 Web services that access data from all the MLSs the company serves nationwide, WolfNet said.
As part of the agreement, ListTrac will provide WolfNet with access to the ListTrac dashboard where WolfNet can view traffic analytics related to WolfNet IDX sites across all 500-plus MLSs — offering both aggregated views at the MLS level and granular site-level views for a specific brokerage, ListTrac said.